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Registration number: 02495276

Extruflex UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Extruflex UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

Extruflex UK Limited

Company Information

Directors

P Chambriard

W Adams

A Lasch

Company secretary

P Chambriard

Registered office

Unit 2J, Carlton Drive
Pen-Y-Fan Industrial Estate
Crumlin
Newport
Gwent
NP11 4EA

Auditors

Roberts & Co (Bristol) Limited
Chartered Accountants & Statutory Auditors
24 High Street
Chipping Sodbury
Bristol
BS37 6AH

 

Extruflex UK Limited

(Registration number: 02495276)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

24,326

60,722

Tangible assets

5

43,414

54,991

 

67,740

115,713

Current assets

 

Stocks

6

584,886

494,146

Debtors

7

318,050

331,057

Cash at bank and in hand

 

62,776

292,149

 

965,712

1,117,352

Creditors: Amounts falling due within one year

8

(244,887)

(274,182)

Net current assets

 

720,825

843,170

Total assets less current liabilities

 

788,565

958,883

Provisions for liabilities

(7,998)

(9,884)

Net assets

 

780,567

948,999

Capital and reserves

 

Called up share capital

9

102,500

102,500

Retained earnings

678,067

846,499

Shareholders' funds

 

780,567

948,999

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2025 and signed on its behalf by:
 

.........................................
P Chambriard
Company secretary and director

 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 2J, Carlton Drive
Pen-Y-Fan Industrial Estate
Crumlin
Newport
Gwent
NP11 4EA
Wales

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 5 March 2025 was Peter Roberts, who signed for and on behalf of Roberts & Co (Bristol) Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

10% straight line

Plant and machinery

10% straight line

Fixtures and fittings

10% straight line

Office equipment

10% - 25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

Trademarks, patents and licences

5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

4

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2024

1,011,129

82,000

1,093,129

At 31 December 2024

1,011,129

82,000

1,093,129

Amortisation

At 1 January 2024

950,407

82,000

1,032,407

Amortisation charge

36,396

-

36,396

At 31 December 2024

986,803

82,000

1,068,803

Carrying amount

At 31 December 2024

24,326

-

24,326

At 31 December 2023

60,722

-

60,722

 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 January 2024

40,291

38,567

10,895

127,874

Additions

-

-

-

5,230

At 31 December 2024

40,291

38,567

10,895

133,104

Depreciation

At 1 January 2024

24,835

28,945

8,017

100,839

Charge for the year

4,032

2,712

348

9,715

At 31 December 2024

28,867

31,657

8,365

110,554

Carrying amount

At 31 December 2024

11,424

6,910

2,530

22,550

At 31 December 2023

15,456

9,622

2,878

27,035

Total
£

Cost or valuation

At 1 January 2024

217,627

Additions

5,230

At 31 December 2024

222,857

Depreciation

At 1 January 2024

162,636

Charge for the year

16,807

At 31 December 2024

179,443

Carrying amount

At 31 December 2024

43,414

At 31 December 2023

54,991

 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

584,886

494,146

7

Debtors

Current

2024
£

2023
£

Trade debtors

313,451

326,610

Prepayments

4,599

4,447

 

318,050

331,057

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

69,167

96,196

Taxation and social security

136,074

138,521

Accruals and deferred income

39,646

39,465

244,887

274,182

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

102,500

102,500

102,500

102,500

       
 

Extruflex UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

39,375

40,143

Later than one year and not later than five years

-

39,375

39,375

79,518

The amount of non-cancellable operating lease payments recognised as an expense during the year was £39,375 (2023 - £40,143).

11

Parent and ultimate parent undertaking

The company's immediate parent is Extruflex SAS, incorporated in France.

 The ultimate parent is Extruflex Industries SAS, incorporated in France.