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Registration number: 11855407

Sampa UK & Ireland Ltd

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Sampa UK & Ireland Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 7

 

Sampa UK & Ireland Ltd

Company Information

Director

Mr Kemal Kahraman

Registered office

Unit 14 Central Park Trading Estate
Mosley Road
Trafford Park
Manchester
M17 1PG

Auditors

Beever and Struthers
The Beehive
Lions Drive
Shadsworth Business Park
Blackburn
Lancashire
BB1 2QS

 

Sampa UK & Ireland Ltd

(Registration number: 11855407)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

113,131

140,319

Current assets

 

Stocks

1,183,987

2,255,269

Debtors

5

1,189,799

1,295,905

Cash at bank and in hand

 

92,063

43,379

 

2,465,849

3,594,553

Creditors: Amounts falling due within one year

6

(392,549)

(869,909)

Net current assets

 

2,073,300

2,724,644

Net assets

 

2,186,431

2,864,963

Capital and reserves

 

Called up share capital

3,750,000

3,750,000

Retained earnings

(1,563,569)

(885,037)

Shareholders' funds

 

2,186,431

2,864,963

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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 21 March 2025
 

.........................................
Mr Kemal Kahraman
Director

   
     
 

Sampa UK & Ireland Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Unit 14 Central Park Trading Estate
Mosley Road
Trafford Park
Manchester
M17 1PG

These financial statements were authorised for issue by the director on 21 March 2025.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 21 March 2025 was Suzanne Lomax BA FCA, who signed for and on behalf of Beever and Struthers.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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 goods are delivered.

 

Sampa UK & Ireland Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fixtures and fittings

Over 10 years straight line

Office equipment

Over 1 - 10 years straight line

Leasehold improvements

Over 10 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials. 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.

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.

 

Sampa UK & Ireland Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2022 - 22).

 

Sampa UK & Ireland Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

56,868

164,130

220,998

At 31 December 2023

56,868

164,130

220,998

Depreciation

At 1 January 2023

17,374

63,304

80,678

Charge for the year

5,858

21,331

27,189

At 31 December 2023

23,232

84,635

107,867

Carrying amount

At 31 December 2023

33,636

79,495

113,131

At 31 December 2022

39,493

100,826

140,319

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

687,624

880,870

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

153,976

-

Prepayments

 

95,067

128,159

Other debtors

 

253,132

286,876

   

1,189,799

1,295,905

Less non-current portion

 

(216,000)

(216,000)

 

973,799

1,079,905

 

Sampa UK & Ireland Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,896

134,165

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

-

437,032

Taxation and social security

 

22,018

52,147

Accruals and deferred income

 

321,437

241,635

Other creditors

 

47,198

4,930

 

392,549

869,909

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of operating lease commitments not included in the balance sheet is £1,380,000 (2022 - £1,620,000). This is the remainder of a 10 year operating lease.

8

Related party transactions

Summary of transactions with parent

The company has taken advantage of the exemption contained within FRS102 and has not therefore disclosed transactions or balances concerning related parties as the company is a wholly owned subsidiary of Sampa Otomotiv Sanayi Ve Ticaret A.S.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Sampa Otomotiv Sanayi Ve Ticaret A.S., incorporated in Turkey.