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REGISTERED NUMBER: 00738226 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

AFRISO EUROGAUGE LIMITED

AFRISO EUROGAUGE LIMITED (REGISTERED NUMBER: 00738226)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AFRISO EUROGAUGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: E Fritz
W B Lawther





REGISTERED OFFICE: Unit 4
Satellite Business Village
Crawley
West Sussex
RH10 9NE





REGISTERED NUMBER: 00738226 (England and Wales)





AUDITORS: Currie Accountancy Limited
Chartered Accountants
Statutory Auditors
First Floor
13a High Street
Edenbridge
Kent
TN8 5AB

AFRISO EUROGAUGE LIMITED (REGISTERED NUMBER: 00738226)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 55,737 31,882

CURRENT ASSETS
Inventories 266,581 236,198
Debtors 5 191,414 283,706
Cash at bank and in hand 671,491 622,849
1,129,486 1,142,753
CREDITORS
Amounts falling due within one year 6 600,729 827,067
NET CURRENT ASSETS 528,757 315,686
TOTAL ASSETS LESS CURRENT
LIABILITIES

584,494

347,568

PROVISIONS FOR LIABILITIES 8 32,621 -
NET ASSETS 551,873 347,568

CAPITAL AND RESERVES
Called up share capital 121,700 121,700
Retained earnings 430,173 225,868
SHAREHOLDERS' FUNDS 551,873 347,568

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th August 2024 and were signed on its behalf by:





W B Lawther - Director


AFRISO EUROGAUGE LIMITED (REGISTERED NUMBER: 00738226)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Afriso Eurogauge Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on the going concern basis on the basis that the holding company, AFRISO-WERK Georg Fritz GmbH & Co KG has confirmed that it will of itself and through this company's fellow subsidiary, Afriso Euro-Index GmbH, continue to support this company.

Significant judgements and estimates
Exchange rate
In order to translate the assets and liabilities held in euros at the balance sheet date, the directors not only review the different exchange rates obtainable online but also consider the variance in the exchange rate after the year end to confirm that the rate used is not speculative. The company uses a default rate of 1.15 in the records.

Stock obsolescence
Stock by its nature does not deteriorate but individual items may not sell for some years. Management review the stock on a line by line basis and provide for items which have been superceded or where minimal sales are made.

Stock valuation
Stock is recorded at purchase price. An additional 4% is added to include the overheads required to bring the stock to its current condition and location.

Provision for dilapidations and discount rate
The current lease for the company premises expires on 28th September 2027. Under the terms of the lease the company must make good any works required to return the premises to their pre-let state (dilapidations). A dilapidation report has been prepared but this does not include costs. An estimate has been made of these costs based on a RICS dilapidation forum survey of £9.54 per square foot. The total provision amounts to £39,651.The net present value of this provision is calculated using a market rate of interest of 5%.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when goods are despatched.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value, over their expected lives on a straight line basis at rates of 20% to 33% per annum.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

AFRISO EUROGAUGE LIMITED (REGISTERED NUMBER: 00738226)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Costs, which comprise production costs including an estimate of applicable overheads, are based on the method most appropriate to the type of inventory class, but usually on a first in first out basis Net realisable value is calculated for individual stock items as the likely selling price with a deduction for the costs of bringing the item to a condition in which it can be sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. All differences are taken into account in arriving at the operating result Non-monetary items that are measured at historic cost in a foreign currency are not retranslated at the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

AFRISO EUROGAUGE LIMITED (REGISTERED NUMBER: 00738226)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. PROPERTY, PLANT AND EQUIPMENT
Fixtures,
fittings
Short Plant and and
leasehold machinery equipment
£    £    £   
COST
At 1st January 2023 - 11,125 133,419
Additions 31,067 - -
Impairments - - (12,359 )
At 31st December 2023 31,067 11,125 121,060
DEPRECIATION
At 1st January 2023 - 11,125 130,481
Charge for year 7,249 - 2,939
Impairments - - (12,360 )
At 31st December 2023 7,249 11,125 121,060
NET BOOK VALUE
At 31st December 2023 23,818 - -
At 31st December 2022 - - 2,938

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 37,765 39,311 221,620
Additions - 12,177 43,244
Impairments - (18,856 ) (31,215 )
At 31st December 2023 37,765 32,632 233,649
DEPRECIATION
At 1st January 2023 22,427 25,705 189,738
Charge for year 6,624 2,578 19,390
Impairments - (18,856 ) (31,216 )
At 31st December 2023 29,051 9,427 177,912
NET BOOK VALUE
At 31st December 2023 8,714 23,205 55,737
At 31st December 2022 15,338 13,606 31,882

AFRISO EUROGAUGE LIMITED (REGISTERED NUMBER: 00738226)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 164,621 256,968
Other debtors 26,793 26,738
191,414 283,706

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 543,165 705,264
Taxation and social security 44,313 64,256
Other creditors 13,251 57,547
600,729 827,067

Trade creditors includes £478,836 (2022 £613,013) which is due to fellow subsidiaries.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 54,800 54,800
Between one and five years 150,287 205,087
205,087 259,887

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Other provisions
Dilapidations 32,621 -

Other
provisions
£   
Provided during year 31,067
Charge to Income Statement during year 1,554
Balance at 31st December 2023 32,621

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Isobel Currie (Senior Statutory Auditor)
for and on behalf of Currie Accountancy Limited

AFRISO EUROGAUGE LIMITED (REGISTERED NUMBER: 00738226)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


10. RELATED PARTY DISCLOSURES

AFRISO-WERK Georg Fritz GmbH & Co KG is this company's immediate and ultimate parent company. It is incorporated in Germany and prepares group financial statements. This group is the largest and the smallest group which includes Afriso Eurogauge Limited. Copies of the group accounts can be obtained from the registered office of AFRISO-WERK Georg Fritz GmbH & Co KG at Lindenstrasse 20, 74363 Guglingen, Germany.

11. ULTIMATE CONTROLLING PARTY



This company's ultimate controlling parties are the brothers Elmar and Jurgen Fritz by virtue of their controlling interest in this company's ultimate parent company.