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REGISTERED NUMBER: 03655618 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2024

for

Esteban UK Ltd

Esteban UK Ltd (Registered number: 03655618)






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 4


Esteban UK Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr S J Szabo



SECRETARY: Ms A L Teese



REGISTERED OFFICE: Second Avenue
Redwither Business Park
Wrexham
Clwyd
LL13 9XQ



REGISTERED NUMBER: 03655618 (England and Wales)



AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Alexandra House
43 Alexandra St
Nottingham
Nottinghamshire
NG5 1AY



BANKERS: HSBC Bank plc
St David's Business Park
Ewloe
Flintshire
CH5 3UZ

Esteban UK Ltd (Registered number: 03655618)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,079 26,052

CURRENT ASSETS
Stocks 490,946 371,527
Debtors 5 2,406,468 1,178,929
Cash at bank and in hand 1,109,730 1,994,147
4,007,144 3,544,603
CREDITORS
Amounts falling due within one year 6 766,567 595,321
NET CURRENT ASSETS 3,240,577 2,949,282
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,243,656

2,975,334

PROVISIONS FOR LIABILITIES - 4,875
NET ASSETS 3,243,656 2,970,459

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 3,143,656 2,870,459
3,243,656 2,970,459

Esteban UK Ltd (Registered number: 03655618)

Statement of Financial Position - continued
31 December 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





Mr S J Szabo - Director


Esteban UK Ltd (Registered number: 03655618)

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

1. STATUTORY INFORMATION

Esteban UK Ltd 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Warranty provision - this involves judgement as to the extent of the provision required to account for the potential costs of warranty issues.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% - 20% on cost
Fixtures, fittings and equipment - 10% - 20% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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

Cost comprises the average purchase price or direct production costs and other costs incurred in bringing the stocks to their present location and condition.

Esteban UK Ltd (Registered number: 03655618)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Esteban UK Ltd (Registered number: 03655618)

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

2. ACCOUNTING POLICIES - continued

Going concern
The directors have confirmed that there is a possibility that the assets and liabilities of the company will be transferred to Isringhausen (GB) Limited through a merger deal between the two companies, both of which are currently under common control in a group. If this is the case then the company will cease to trade.

At this stage, the company continues to trade and the directors are still in negotiations for the two companies to combine. The accounts are prepared on a going concern basis.

The board have assessed the statement of financial position and have concluded that it is unlikely that any impairments or other adjustments would be required as all assets and liabilities would be transferred to Isringhausen (GB) Limited at book value.

In the event that the merger does not take place then Esteban UK Limited will continue to trade as a separate business. The directors are satisfied that current trading performance and cash flow, when taken in conjunction with budgets and forecasts for the foreseeable future, are sufficient for them to conclude that the going concern basis remains appropriate should this be the case.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and and
machinery equipment Totals
£    £    £   
COST
At 1 January 2024 343,841 40,295 384,136
Additions 3,000 - 3,000
At 31 December 2024 346,841 40,295 387,136
DEPRECIATION
At 1 January 2024 317,789 40,295 358,084
Charge for year 25,973 - 25,973
At 31 December 2024 343,762 40,295 384,057
NET BOOK VALUE
At 31 December 2024 3,079 - 3,079
At 31 December 2023 26,052 - 26,052

Esteban UK Ltd (Registered number: 03655618)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,540,334 740,344
Other debtors 866,134 438,585
2,406,468 1,178,929

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 54,762 72,369
Amounts owed to group undertakings 605,060 408,192
Taxation and social security 95,209 103,559
Other creditors 11,536 11,201
766,567 595,321

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Newman LLB BFP FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

8. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available from disclosing transactions and balances with other group companies on the basis that Esteban UK Limited is a wholly owned subsidiary.

9. ULTIMATE CONTROLLING PARTY

The company is wholly owned by Aunde Esteban S.A in Spain and the ultimate holding company is Isringhausen GmbH & Co. KG in Germany.

The director considers that the company is controlled by the directors of Aunde Esteban S.A.

The only group in which the results of the company are consolidated is that headed by Isringhausen GmbH & Co. KG, the ultimate holding company.