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Company registration number: 10256400







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


GRUPOTEC DESIGN & BUILD LIMITED






































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GRUPOTEC DESIGN & BUILD LIMITED
 


 
COMPANY INFORMATION


Director
V R Forment 




Registered number
10256400



Registered office
Parkshot House
5 Kew Road

Richmond

London

TW9 2PR




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

2nd Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


GRUPOTEC DESIGN & BUILD LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 5


 


GRUPOTEC DESIGN & BUILD LIMITED
REGISTERED NUMBER:10256400



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
752,143
786,722

Bank and cash balances
  
37,770
186,066

  
789,913
972,788

Creditors: amounts falling due within one year
 6 
(880,888)
(1,029,399)

Net current liabilities
  
 
 
(90,975)
 
 
(56,611)

Total assets less current liabilities
  
(90,975)
(56,611)

  

Net liabilities
  
(90,975)
(56,611)


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Profit and loss account
  
(110,975)
(76,611)

  
(90,975)
(56,611)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
V R Forment
Director

Date: 1 August 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


GRUPOTEC DESIGN & BUILD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Grupotec Design & Build Limited is a private Company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006, and registered in England and Wales. The registered office can be found on the Company Information page and there is no principal place of activity.
The prinicipal activity of the Company continues to be to provide constructive and design solutions for industrial constructions, currently focusing on the development of supermarkets.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has net current liabilities of £90,975 (2023: net current liabilities £56,611) and has received confirmation of support from Grupotec Servicios Avanzados, S.A. and a related subsidiary in respect of the intercompany loan owed of £852,467 not being recalled for a period of at least 12 months from the date of signing these financial statements.
As a result of the actions described above, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 


GRUPOTEC DESIGN & BUILD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

There is a firm sales contract, and the buyer and seller enter obligations. There is also a specifically negotiated agreement for the construction of an asset, defined through the specific technical specifications. That individual is the agreement and through which a systematic and substantial transfer of risks and benefits take place, to the extent that the contractor completes its activities and the customer participates in the basic design and may substantially modify it at the start and during work.

The amount of the income may be reliably measured.

There are no doubts regarding the solvency if the customer or any other factor that could affect the likelihood of obtaining profits or financial yields from the transaction.

The degree of completion may be reliably measured , which involves identifying the percentage of costs incurred at least at each closing date compared with the total costs to be incurred.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


Page 3

 


GRUPOTEC DESIGN & BUILD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of the accounting policies and the reported amounts of assets and liabilities, revenues and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods effected.
The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
CIS debtor recoverability:
The Company has a CIS balance suffered in prior years which it is seeking to recover from HMRC. Management are satisfied that the balance is considered to be recoverable and that no provision should be made as the balance is not an estimate but instead factual and the judgement is made upon its recovery which HMRC have not returned their claim as being invalid. Therefore management has considered that it is virtually certain that they will recover the balance of £748,312 it is just the timing of receiving the payment following the necessary claim process.


4.


Employees

2024
2023
£
£

Wages and salaries
24,141
35,500

Social security costs
2,704
3,644

Cost of defined contribution scheme
576
855

27,421
39,999


The average monthly number of employees, including directors, during the year was 1 (2023 - 2).


5.


Debtors

2024
2023
£
£


Other debtors
752,143
770,255

Prepayments and accrued income
-
16,467

752,143
786,722


Page 4

 


GRUPOTEC DESIGN & BUILD LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
371
363

Amounts owed to group undertakings
852,467
991,780

Other taxation and social security
-
23,517

Other creditors
-
289

Accruals and deferred income
28,050
13,450

880,888
1,029,399



7.


Related party transactions

The Company forms part of a wholly owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.


8.


Controlling party

The parent of the smallest group for which consolidated financial statements are drawn up is Grupotec Servicios Avanzados S.A. The address of their registered office is Avda. de los Naranjos 33, 46011 Valencia, España. Financial statements of Grupotec Servicious Avanzados S.A. can be obtained from the registrar of companies in Spain, Registro Mercantil Central.


9.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 1 August 2025 by Tom Woods FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 5