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Company No: 07016684 (England and Wales)

CERAP UK LTD

Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

CERAP UK LTD

Financial Statements

For the financial year ended 31 December 2023

Contents

CERAP UK LTD

COMPANY INFORMATION

For the financial year ended 31 December 2023
CERAP UK LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Daniel Asselot
Fabrice Jehan Charles Quemener (Appointed 17 October 2023)
REGISTERED OFFICE Wilberforce House
Station Road
London
NW4 4QE
England
United Kingdom
COMPANY NUMBER 07016684 (England and Wales)
AUDITOR Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
CERAP UK LTD

BALANCE SHEET

As at 31 December 2023
CERAP UK LTD

BALANCE SHEET (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Debtors 3 460,453 166,588
Cash at bank and in hand 118,121 134,870
578,574 301,458
Creditors: amounts falling due within one year 4 ( 416,785) ( 301,914)
Net current assets/(liabilities) 161,789 (456)
Total assets less current liabilities 161,789 (456)
Net assets/(liabilities) 161,789 ( 456)
Capital and reserves
Called-up share capital 5 5,000 5,000
Profit and loss account 156,789 ( 5,456 )
Total shareholders' funds/(deficit) 161,789 ( 456)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Cerap UK Ltd (registered number: 07016684) were approved and authorised for issue by the Board of Directors on 04 October 2024. They were signed on its behalf by:

Fabrice Jehan Charles Quemener
Director
CERAP UK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
CERAP UK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cerap UK Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wilberforce House, Station Road, London, NW4 4QE, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

Turnover from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 5

3. Debtors

2023 2022
£ £
Trade debtors 196,066 88,165
Prepayments and accrued income 260,388 69,950
Corporation tax 0 6,162
Other debtors 3,999 2,311
460,453 166,588

4. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 11
Trade creditors 4,878 131,567
Amounts owed to Group undertakings 245,712 47,163
Taxation and social security 103,131 55,279
Other creditors 63,064 67,894
416,785 301,914

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
500 Ordinary shares of £ 10.00 each 5,000 5,000

6. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 2,785 0
between one and five years 696 0
3,481 0

7. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts owed to group companies 8,745 0

Amounts bear no interest and are repayable on demand.

8. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

9. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2023 was unqualified.

The audit report was signed by Christopher Blunn on behalf of Praxis.

10. Ultimate controlling party

The ultimate parent company of Cerap UK is Altrad, incorporated in France with a principal office at 150, rue Le Pérugin, 34000 Montpellier, France.