Company registration number 11095713 (England and Wales)
SAMAIPATA UK LIMITED
Unaudited financial statements
For the year ended 31 December 2023
Pages for filing with registrar
SAMAIPATA UK LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
SAMAIPATA UK LIMITED
STATEMENT OF FINANCIAL POSITION
As at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
2,742
4,162
Current assets
Trade and other receivables
5
6,073
18,024
Cash and cash equivalents
29,409
20,967
35,482
38,991
Current liabilities
6
(11,088)
(22,733)
Net current assets
24,394
16,258
Net assets
27,136
20,420
Equity
Called up share capital
1
1
Retained earnings
27,135
20,419
Total equity
27,136
20,420

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
Mr J Puerta
Director
Company registration number 11095713 (England and Wales)
SAMAIPATA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2023
- 2 -
1
Accounting policies
Company information

Samaipata UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, London, SW19 7JY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
Straight line over 4 years
1.4
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SAMAIPATA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade payables are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

SAMAIPATA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2023
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2023
7,235
Disposals
(1,553)
At 31 December 2023
5,682
Depreciation and impairment
At 1 January 2023
3,073
Depreciation charged in the year
1,420
Eliminated in respect of disposals
(1,553)
At 31 December 2023
2,940
Carrying amount
At 31 December 2023
2,742
At 31 December 2022
4,162
5
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Other receivables
6,073
18,024
SAMAIPATA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2023
5
Trade and other receivables
(Continued)
- 5 -
6
Current liabilities
2023
2022
£
£
Trade payables
1,497
635
Corporation tax
1,913
2,293
Other taxation and social security
2,183
9,373
Other payables
5,495
10,432
11,088
22,733
7
Parent company

At 31 December 2023 the Company was fully under the control of Samaipata Ventures, SGEIC, S.A, a company incorporated in Spain, their registered office is C/ Salustiano Olózaga 5, Esc Izq, 3º, 28001 Madrid (Spain)

 

2023-12-312023-01-01false17 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr J PuertaK J Millinerfalsefalse110957132023-01-012023-12-31110957132023-12-31110957132022-12-3111095713core:OtherPropertyPlantEquipment2023-12-3111095713core:OtherPropertyPlantEquipment2022-12-3111095713core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3111095713core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3111095713core:CurrentFinancialInstruments2023-12-3111095713core:CurrentFinancialInstruments2022-12-3111095713core:ShareCapital2023-12-3111095713core:ShareCapital2022-12-3111095713core:RetainedEarningsAccumulatedLosses2023-12-3111095713core:RetainedEarningsAccumulatedLosses2022-12-3111095713bus:Director12023-01-012023-12-3111095713core:ComputerEquipment2023-01-012023-12-31110957132022-01-012022-12-3111095713core:OtherPropertyPlantEquipment2022-12-3111095713core:OtherPropertyPlantEquipment2023-01-012023-12-3111095713core:WithinOneYear2023-12-3111095713core:WithinOneYear2022-12-3111095713bus:PrivateLimitedCompanyLtd2023-01-012023-12-3111095713bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111095713bus:FRS1022023-01-012023-12-3111095713bus:AuditExemptWithAccountantsReport2023-01-012023-12-3111095713bus:Director22023-01-012023-12-3111095713bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP