Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31372023-01-01falseSale of car lubricant products to UK and Ireland customers.32truetruefalse 06714738 2023-01-01 2023-12-31 06714738 2022-01-01 2022-12-31 06714738 2023-12-31 06714738 2022-12-31 06714738 2022-01-01 06714738 c:Director2 2023-01-01 2023-12-31 06714738 d:Buildings 2023-01-01 2023-12-31 06714738 d:Buildings 2023-12-31 06714738 d:Buildings 2022-12-31 06714738 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06714738 d:PlantMachinery 2023-01-01 2023-12-31 06714738 d:PlantMachinery 2023-12-31 06714738 d:PlantMachinery 2022-12-31 06714738 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06714738 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06714738 d:CurrentFinancialInstruments 2023-12-31 06714738 d:CurrentFinancialInstruments 2022-12-31 06714738 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06714738 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06714738 d:ShareCapital 2023-01-01 2023-12-31 06714738 d:ShareCapital 2023-12-31 06714738 d:ShareCapital 2022-01-01 2022-12-31 06714738 d:ShareCapital 2022-12-31 06714738 d:ShareCapital 2022-01-01 06714738 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2023-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2022-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2022-01-01 06714738 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06714738 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06714738 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 06714738 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 06714738 d:RetirementBenefitObligationsDeferredTax 2023-12-31 06714738 d:RetirementBenefitObligationsDeferredTax 2022-12-31 06714738 d:OtherDeferredTax 2023-12-31 06714738 d:OtherDeferredTax 2022-12-31 06714738 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 06714738 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-12-31 06714738 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06714738 c:OrdinaryShareClass1 2023-12-31 06714738 c:OrdinaryShareClass1 2022-12-31 06714738 c:FRS102 2023-01-01 2023-12-31 06714738 c:Audited 2023-01-01 2023-12-31 06714738 c:FullAccounts 2023-01-01 2023-12-31 06714738 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06714738 d:WithinOneYear 2023-12-31 06714738 d:WithinOneYear 2022-12-31 06714738 d:BetweenOneFiveYears 2023-12-31 06714738 d:BetweenOneFiveYears 2022-12-31 06714738 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06714738 2 2023-01-01 2023-12-31 06714738 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06714738









TUNAP (UK) LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TUNAP (UK) LIMITED
REGISTERED NUMBER: 06714738

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
382,250
427,395

  
382,250
427,395

Current assets
  

Stocks
 6 
884,390
981,799

Debtors: amounts falling due within one year
 7 
817,627
1,052,602

Cash at bank and in hand
  
25,356
29,940

  
1,727,373
2,064,341

Creditors: amounts falling due within one year
 8 
(1,208,622)
(1,345,547)

Net current assets
  
 
 
518,751
 
 
718,794

Total assets less current liabilities
  
901,001
1,146,189

Provisions for liabilities
  

Deferred tax
 9 
-
(27,166)

Dilapidation provision
 10 
(51,648)
(51,648)

  
 
 
(51,648)
 
 
(78,814)

Net assets
  
849,353
1,067,375


Capital and reserves
  

Called up share capital 
 11 
863,616
863,616

Profit and loss account
  
(14,263)
203,759

  
849,353
1,067,375


Page 1

 
TUNAP (UK) LIMITED
REGISTERED NUMBER: 06714738
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.

Mrs E A Rozario
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 2

 
TUNAP (UK) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
863,616
4,653
868,269


Comprehensive income for the year

Profit for the year
-
199,106
199,106
Total comprehensive income for the year
-
199,106
199,106



At 1 January 2023
863,616
203,759
1,067,375


Comprehensive income for the year

Loss for the year
-
(218,022)
(218,022)
Total comprehensive income for the year
-
(218,022)
(218,022)


At 31 December 2023
863,616
(14,263)
849,353


The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Tunap (UK) Limited is a private Company, limited by shares, incorporated in England and Wales, there registered number is 06714738. The registered office is, Unit 12 Tonbridge Trade Park, Ingot Way, Tonbridge, Kent, TN9 1GN which is the same address as the place of business.
The financial statements are prepared in sterling, which is the functional currency of the Company and  rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company meets its day to day working capital requirements through a rolling three month loan facility from its sister company, Wurth Finance International B.V., a company incorporated in the Netherlands, whenever this is required. 
The directors have considered the Company's position at the time of signing the financial statements, including a review of forecasts for at least the next 12 months from approval. The directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Page 4

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

These conditions are met on the date goods are dispatched from the warehouse and therefore revenue is recognised at this point.

 
2.5

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 5

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.7

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 

  
2.8

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
 -    The recognition of deferred tax assets is limited to the extent that it is probable that they will be        recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 -    Any deferred tax balances are reversed if and when all conditions for retaining associated tax       allowances have been met.

Page 6

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
5 to 10 years
Plant and machinery
-
3 to 10 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Finished goods include landing and duty costs.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from other third parties.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an 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.

Page 8

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for income and expenditure during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. No judgements (apart from those involving estimates) have been made when preparing the financial statements.
The key assumptions concerning the future and other key sources of estimating uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:
Tangible Fixed Assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. The depreciation charge for the totalled £63,735 (2022: £16,318).
Dilapidation Provision
The company leases their operating premises over a contractual period of time. A clause in the contract, as the lessee, is to restore the premises back to its original state at the end of the lease. Management have made alterations to the premises during their lease term and would be contractually obliged to restore to its original state. The cost to restore has been estimated by an independent, suitably qualified, building contractor, of which management deem their estimate to be reliable at the balance sheet date. The provision for these costs totalled £51,648 at the year-end (2022: £51,648).


4.


Employees

The average monthly number of employees, including directors, during the year was 32 (2022 - 37).

Page 9

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Leasehold improve-ments
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
291,917
194,323
486,240


Additions
1,336
17,254
18,590



At 31 December 2023

293,253
211,577
504,830



Depreciation


At 1 January 2023
4,373
54,472
58,845


Charge for the year
34,866
28,869
63,735



At 31 December 2023

39,239
83,341
122,580



Net book value



At 31 December 2023
254,014
128,236
382,250



At 31 December 2022
287,544
139,851
427,395


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
884,390
981,799


The replacement value of stock is not materially different to the carrying value.

Page 10

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
505,969
712,961

Amounts owed by group undertakings
16,376
-

Other debtors
7,284
7,072

Prepayments and accrued income
254,493
332,569

Deferred taxation
33,505
-

817,627
1,052,602



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
70,217
163,565

Amounts owed to group undertakings
827,621
794,152

Other taxation and social security
140,946
118,871

Other creditors
3,909
3,907

Accruals and deferred income
165,929
265,052

1,208,622
1,345,547



9.


Deferred taxation




2023


£






At beginning of year
(27,166)


Credited to the profit or loss
60,671



At end of year
33,505

Page 11

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(47,205)
(53,863)

Tax losses carried forward
65,519
21,259

Provisions
(410)
3,019

Non-trading loan relationship losses carried forward
15,601
2,419

33,505
(27,166)


10.


Provisions




Dilapidation provision

£





At 1 January 2023
51,648



At 31 December 2023
51,648


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



863,616 (2022 - 863,616) Ordinary shares of £1.00 each
863,616
863,616



12.


Reserves

Profit and loss account

This reserve comprises of all other net distributable gains and losses, transactions with owners, e.g. dividends, and other adjustments which are not recognised elsewhere.

Page 12

 
TUNAP (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £25,520 (2022 - £25,890). Contributions totalling £3,909 (2022 - £3,712) were payable to the fund at the balance sheet date and are included in creditors.


14.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
334,617
308,468

Later than 1 year and not later than 5 years
758,235
792,635

1,092,852
1,101,103


15.


Controlling party

The immediate parent undertaking is RUC-Holding GmbH, a company incorporated in Austria. The registered office is Wurth Strasse 1, 3071 Boheimkirchen, Austria. The ultimate parent undertaking is Wurth Promotion Ges.m.b.H, a company incorporated in Austria. The consolidated financial statements can be obtained from the ultimate parent's registered office. The ultimate parent is controlled by the Wurth Private Trust. 


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 23 September 2024 by Aaron Widdows ACA FCCA (Senior Statutory Auditor) on behalf of Price Bailey LLP.

 
Page 13