Pemsa UK Limited 04358743 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the sale of electrical cable housing. Digita Accounts Production Advanced 6.30.9574.0 true true 04358743 2024-01-01 2024-12-31 04358743 2024-12-31 04358743 core:RetainedEarningsAccumulatedLosses 2024-12-31 04358743 core:ShareCapital 2024-12-31 04358743 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04358743 core:FurnitureFittingsToolsEquipment 2024-12-31 04358743 bus:SmallEntities 2024-01-01 2024-12-31 04358743 bus:Audited 2024-01-01 2024-12-31 04358743 bus:FilletedAccounts 2024-01-01 2024-12-31 04358743 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04358743 bus:RegisteredOffice 2024-01-01 2024-12-31 04358743 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 04358743 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04358743 bus:Agent1 2024-01-01 2024-12-31 04358743 core:FurnitureFittings 2024-01-01 2024-12-31 04358743 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 04358743 core:OfficeEquipment 2024-01-01 2024-12-31 04358743 core:ParentEntities 2024-01-01 2024-12-31 04358743 1 2024-01-01 2024-12-31 04358743 countries:AllCountries 2024-01-01 2024-12-31 04358743 2023-12-31 04358743 core:FurnitureFittingsToolsEquipment 2023-12-31 04358743 2023-01-01 2023-12-31 04358743 2023-12-31 04358743 core:RetainedEarningsAccumulatedLosses 2023-12-31 04358743 core:ShareCapital 2023-12-31 04358743 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04358743 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 04358743

Pemsa UK Limited

Annual Report and Financial Statements

For The Year Ended 31 December 2024

 

Pemsa UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Pemsa UK Limited

(Registration number: 04358743)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

6

 

10,696

 

13,394

Current assets

   

 

Stocks

7

1,600,186

 

1,424,854

 

Debtors

8

1,979,459

 

1,828,955

 

Cash at bank and in hand

 

811,358

 

1,076,813

 

 

4,391,003

 

4,330,622

 

Creditors: Amounts falling due within one year

9

(2,054,601)

 

(2,464,480)

 

Net current assets

   

2,336,402

 

1,866,142

Total assets less current liabilities

   

2,347,098

 

1,879,536

Provisions for liabilities

 

(2,674)

 

-

Net assets

   

2,344,424

 

1,879,536

Capital and reserves

   

 

Called up share capital

1,500,000

 

1,500,000

 

Profit and loss account

844,424

 

379,536

 

Total equity

   

2,344,424

 

1,879,536

These financial statements have been prepared and 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 18 March 2025 and signed on its behalf by:
 

.........................................
Mr J.J. Martinez Domenech
Company secretary and director

 

Pemsa 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:
1 Sussex Avenue
Hunslet
Leeds
West Yorkshire
LS10 2LF
United Kingdom

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

These financial statements show only transactions for Pemsa UK Limited.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The presentation currency is £ sterling.

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 18 March 2025 was Julie M Konczyk BFP FCA FCCA, who signed for and on behalf of Farrar Smith Limited.

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

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 value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Foreign currency transactions and balances

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

 

Pemsa UK Limited

Notes to the Financial Statements For The Year Ended 31 December 2024

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.

Tangible assets

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

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

15% reducing balance

Office equipment

33% 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 first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials and, where applicable any costs 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

 

Pemsa UK Limited

Notes to the Financial Statements For The Year Ended 31 December 2024

4

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

5,200

5,000


 

5

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,098

3,470

6

Tangible assets

Fixtures & fittings and office equipment
 £

Total
£

Cost or valuation

At 1 January 2024

46,190

46,190

Additions

1,399

1,399

At 31 December 2024

47,589

47,589

Depreciation

At 1 January 2024

32,796

32,796

Charge for the year

4,097

4,097

At 31 December 2024

36,893

36,893

Carrying amount

At 31 December 2024

10,696

10,696

At 31 December 2023

13,394

13,394

7

Stocks

2024
£

2023
£

Stocks

1,600,186

1,424,854

 

Pemsa UK Limited

Notes to the Financial Statements For The Year Ended 31 December 2024

8

Debtors

Current

2024
£

2023
£

Trade debtors

1,821,073

1,681,746

Prepayments

76,655

75,679

Other debtors

81,731

71,530

 

1,979,459

1,828,955

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

365,969

421,464

Amounts owed to group undertakings.

1,136,668

1,478,314

Taxation and social security

425,346

385,118

Other creditors

126,618

179,584

2,054,601

2,464,480

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £208,409 (2023 - £207,227). Vehicle Leases £10,909 (2023 : £23,757), Premises Rent £197,500 (2023 : £183,470)

 

Pemsa UK Limited

Notes to the Financial Statements For The Year Ended 31 December 2024

11

Related party transactions

Summary of transactions with parent

Pemsa Cable Management, S.A.U. - Parent company

Trading address and registered office of parent company is:

Polígono Industrial de La Garena
Calle Galileo Galilei, 22-24
28806 ALCALA DE HENARES
MADRID
During the period the company purchased goods from Pemsa Cable Management SAU its parent company, these were all concluded under normal market conditions and were all arms length transactions.

During the year administrative and management support was provided by the parent company with no charge being made.

12

Parent and ultimate parent undertaking

The company is a wholly owned subsidiary and it's immediate parent is Pemsa Cable Management SAU, incorporated in Spain.

 The ultimate parent is Coax Gestion SL, incorporated in Spain.