REGISTERED NUMBER: |
Gregal (UK) Limited |
Audited Financial Statements |
for the Year Ended 30 September 2024 |
REGISTERED NUMBER: |
Gregal (UK) Limited |
Audited Financial Statements |
for the Year Ended 30 September 2024 |
Gregal (UK) Limited (Registered number: 02995690) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Company information | 1 |
Statement of financial position | 2 |
Notes to the financial statements | 3 | to | 6 |
Gregal (UK) Limited |
Company Information |
for the Year Ended 30 September 2024 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Gregal (UK) Limited (Registered number: 02995690) |
Statement of Financial Position |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | 10 |
Shareholders' funds |
The financial statements were approved by the Board of Directors and authorised for issue on |
Gregal (UK) Limited (Registered number: 02995690) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | Statutory information |
Gregal (UK) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
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. |
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. |
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: |
Fixtures, fittings and office equipment | - | 25% straight line |
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. |
Gregal (UK) Limited (Registered number: 02995690) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
3. | Accounting policies - continued |
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 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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 |
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. |
Operating leases |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
lease term. |
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. |
4. | Employees and directors |
The average number of employees during the year was |
Gregal (UK) Limited (Registered number: 02995690) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
5. | Tangible fixed assets |
Fixtures, |
fittings |
and |
office |
equipment |
£ |
Cost |
At 1 October 2023 |
and 30 September 2024 |
Depreciation |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
Net book value |
At 30 September 2024 |
At 30 September 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Accruals and deferred income |
8. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 98 | 191 |
Gregal (UK) Limited (Registered number: 02995690) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
8. | Provisions for liabilities - continued |
Deferred |
tax |
£ |
Balance at 1 October 2023 |
Provided during year | ( |
) |
Balance at 30 September 2024 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | Reserves |
Retained |
earnings |
£ |
At 1 October 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 September 2024 |
11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the auditors was unqualified. |
for and on behalf of |
12. | Pension commitments |
The company operates a defined contribution pension scheme for the benefit of the employees. The |
assets of the scheme are administered by trustees in a fund independent from those of the company. |
The pension cost charge for the period was £11,956 (2023: £11,516). |
13. | Related parties |
The ultimate parent undertaking and controlling related party of this company is Gregal Sociedad Co-operativa which is registered in Spain at the following address: Carril Los Perez, Torre Pacheco, Murcia, Spain, 30700. |
Transactions during the year with entities which control or hold significant influence over the company were as follows: |
Goods costing £7,192,595 (2023: £5,956,725) were purchased during the year. |
A balance of £362,112 (2023: £641,662) was owing to related parties at the balance sheet date. |