1 January 2023 false No description of principal activity Taxfiler 2024.5 true 10238828business:PrivateLimitedCompanyLtd2023-01-012023-12-31 102388282022-12-31 102388282023-01-012023-12-31 10238828business:AuditExemptWithAccountantsReport2023-01-012023-12-31 10238828business:FilletedAccounts2023-01-012023-12-31 102388282023-12-31 10238828business:Director12023-01-012023-12-31 10238828business:Director22023-01-012023-12-31 10238828business:Director32023-01-012023-12-31 10238828business:RegisteredOffice2023-01-012023-12-31 102388282022-12-31 10238828core:WithinOneYear2023-12-31 10238828core:WithinOneYear2022-12-31 10238828core:AfterOneYear2023-12-31 10238828core:AfterOneYear2022-12-31 10238828core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 10238828core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 10238828core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 10238828core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 10238828core:PreviouslyStatedAmount2023-12-31 10238828core:PreviouslyStatedAmount2022-12-31 10238828business:SmallEntities2023-01-012023-12-31 10238828countries:EnglandWales2023-01-012023-12-31 10238828core:PlantMachinery2023-01-012023-12-31 10238828core:FurnitureFittings2023-01-012023-12-31 10238828core:ComputerEquipment2023-01-012023-12-31 10238828core:PlantMachinery2022-12-31 10238828core:FurnitureFittings2022-12-31 10238828core:ComputerEquipment2022-12-31 10238828core:PlantMachinery2023-12-31 10238828core:FurnitureFittings2023-12-31 10238828core:ComputerEquipment2023-12-31 102388282022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 10238828 (England and Wales)
Fermac Cargo United Kingdom Ltd Unaudited accounts for the year ended 31 December 2023
Fermac Cargo United Kingdom Ltd Unaudited accounts Contents
Page
- 2 -
Fermac Cargo United Kingdom Ltd Company Information for the year ended 31 December 2023
Directors
Alejandro Casado Vidal Esther Hernando Barzano Gerardo Soto Santiago
Company Number
10238828 (England and Wales)
Registered Office
62 Heathfield North Twickenham London Middlesex TW2 7QW
- 3 -
Fermac Cargo United Kingdom Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,108 
2,040 
Current assets
Debtors
276,041 
199,921 
Cash at bank and in hand
30,601 
19,710 
306,642 
219,631 
Creditors: amounts falling due within one year
(688,885)
(507,915)
Net current liabilities
(382,243)
(288,284)
Total assets less current liabilities
(375,135)
(286,244)
Creditors: amounts falling due after more than one year
(55,493)
(42,855)
Net liabilities
(430,628)
(329,099)
Capital and reserves
Called up share capital
95,650 
95,650 
Profit and loss account
(526,278)
(424,749)
Shareholders' funds
(430,628)
(329,099)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by
Esther Hernando Barzano Director Company Registration No. 10238828
- 4 -
Fermac Cargo United Kingdom Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Fermac Cargo United Kingdom Ltd is a private company, limited by shares, registered in England and Wales, registration number 10238828. The registered office is 62 Heathfield North, Twickenham, London, Middlesex, TW2 7QW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standards 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 £1. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. the principal accounting policies adopted are set out below.
Going concern
At the balance sheet date the company had net liabilities, and is dependant upon the support of one its directors to continue trading. The Directors have concluded that with the right management actions and the continued support of the shareholder, the company is a going concern for at least 12 months following the signature of the financial statements. Accordingly the directors have prepared the financial statements on this basis.
Turnover
Turnover is represented by invoiced services net of any discount and input VAT received from customers in respect of goods forwarded. All sales income is derived from rendering of services
Tangible fixed assets and depreciation
Depreciation has been provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & machinery
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Computer equipment
33.33% Straight line
- 5 -
Fermac Cargo United Kingdom Ltd Notes to the Accounts for the year ended 31 December 2023
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets 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 taxation
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 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currencies
Monetary assets and liabilities 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all its financial instruments Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at the transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include trade and other payables are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financial transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
- 6 -
Fermac Cargo United Kingdom Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
- 
2,052 
7,763 
9,815 
Additions
7,304 
- 
- 
7,304 
At 31 December 2023
7,304 
2,052 
7,763 
17,119 
Depreciation
At 1 January 2023
- 
1,424 
6,351 
7,775 
Charge for the year
913 
157 
1,166 
2,236 
At 31 December 2023
913 
1,581 
7,517 
10,011 
Net book value
At 31 December 2023
6,391 
471 
246 
7,108 
At 31 December 2022
- 
628 
1,412 
2,040 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
223,334 
150,588 
Other debtors
52,707 
49,333 
276,041 
199,921 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
638,225 
432,315 
Taxes and social security
7,143 
7,292 
Other creditors
43,517 
68,308 
688,885 
507,915 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
55,493 
42,855 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
- 7 -