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REGISTERED NUMBER: 02661167 (England and Wales)















Financial Statements

for the Year Ended 31 December 2024

for

ELUMATEC UNITED KINGDOM LIMITED

ELUMATEC UNITED KINGDOM LIMITED (REGISTERED NUMBER: 02661167)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ELUMATEC UNITED KINGDOM LIMITED

Company Information
for the year ended 31 December 2024







Directors: N Parton
N Wosel





Secretary: S L Neasham





Registered office: Unit 1 Integra
Thornton Chase
Linford Wood
Milton Keynes
Buckinghamshire
MK14 6FD





Registered number: 02661167 (England and Wales)





Auditors: Duncan & Toplis Audit Limited, Statutory Auditor
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

ELUMATEC UNITED KINGDOM LIMITED (REGISTERED NUMBER: 02661167)

Statement of Financial Position
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 50,671 60,784

Current assets
Stocks 674,909 373,034
Debtors 5 1,742,750 2,884,804
Cash at bank and in hand 192,915 197,768
2,610,574 3,455,606
Creditors
Amounts falling due within one year 6 1,379,107 2,275,264
Net current assets 1,231,467 1,180,342
Total assets less current liabilities 1,282,138 1,241,126

Provisions for liabilities 8,976 11,230
Net assets 1,273,162 1,229,896

Capital and reserves
Called up share capital 8 50,000 50,000
Retained earnings 9 1,223,162 1,179,896
Shareholders' funds 1,273,162 1,229,896

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





N Parton - Director


ELUMATEC UNITED KINGDOM LIMITED (REGISTERED NUMBER: 02661167)

Notes to the Financial Statements
for the year ended 31 December 2024


1. Statutory information

Elumatec United Kingdom 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating the warranty provision. A review of the warranty provision is carried out by management regularly. Whilst every attempt is made to ensure that the warranty provision is as accurate as possible, there remains a risk that the provision does not match the warranty claims relating to the period.

There is estimation uncertainty in calculating the stock provision. A full line by line review of stock depreciation report is carried out by management regularly. Whilst every attempt is made to ensure that the stock provision is as accurate as possible, there remains a risk that stock is not valued at the correct net realisable value.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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

Turnover represents net invoiced sales of goods excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold- Straight line over 10 years
Plant and Machinery- 25% on reducing balance
Fixtures, fittings & equipment- 35% on reducing balance and 25% on reducing balance

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

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


ELUMATEC UNITED KINGDOM LIMITED (REGISTERED NUMBER: 02661167)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 18 (2023 - 18 ) .

4. Tangible fixed assets
Fixtures,
Short Plant and fittings &
leasehold machinery equipment Totals
£ £ £ £
Cost
At 1 January 2024 54,615 42,396 86,977 183,988
Additions - - 6,500 6,500
At 31 December 2024 54,615 42,396 93,477 190,488
Depreciation
At 1 January 2024 27,308 28,012 67,884 123,204
Charge for year 5,461 3,596 7,556 16,613
At 31 December 2024 32,769 31,608 75,440 139,817
Net book value
At 31 December 2024 21,846 10,788 18,037 50,671
At 31 December 2023 27,307 14,384 19,093 60,784

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 47,139 27,315
Amounts owed by group undertakings 1,516,222 2,686,772
Other debtors 179,389 170,717
1,742,750 2,884,804

ELUMATEC UNITED KINGDOM LIMITED (REGISTERED NUMBER: 02661167)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 283,995 821,483
Amounts owed to group undertakings 522,785 593,761
Taxation and social security 320,301 587,880
Other creditors 252,026 272,140
1,379,107 2,275,264

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 128,207 100,330
Between one and five years 260,165 195,328
In more than five years 21,587 77,194
409,959 372,852

The company had total commitments under non-cancellable operating leases as above.

8. Called up share capital

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £ £
50,000 Share capital 1 £1 50,000 50,000

9. Reserves
Retained
earnings
£

At 1 January 2024 1,179,896
Profit for the year 553,266
Dividends (510,000 )
At 31 December 2024 1,223,162

10. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Hassan Behcet (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11. Pension costs

The company operates a defined contribution 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 £67,006 (2023: £79,416). Contributions outstanding at the balance sheet date amounted to £768 (2023: £970).

12. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

ELUMATEC UNITED KINGDOM LIMITED (REGISTERED NUMBER: 02661167)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


13. Ultimate controlling party

The immediate parent company is elumatec AG, registered office Pinacher Strasse 61, 75417 Muhlacker, Germany: a company incorporated in Germany. Elumatec AG heads the smallest group of which Elumatec United Kingdom Limited is a subsidiary. The ultimate parent company is Voilap Holding S.p.a, a company incorporated in Italy and which heads up the largest group of which Elumatec United Kingdom Limited is a subsidiary. It is privately owned by various individuals of which none hold individual control of the company. The company's registered address is as follows: Via Archimede, 10 - 41019 Limidi di Soliera (MO) Italy.