6
false
false
true
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
45,890
53,749
xbrli:pure
xbrli:shares
iso4217:GBP
05015359
2024-01-01
2024-12-31
05015359
2024-12-31
05015359
2023-12-31
05015359
2023-01-01
2023-12-31
05015359
2023-12-31
05015359
2022-12-31
05015359
core:LandBuildings
core:LongLeaseholdAssets
2024-01-01
2024-12-31
05015359
core:PlantMachinery
2024-01-01
2024-12-31
05015359
core:MotorVehicles
2024-01-01
2024-12-31
05015359
bus:RegisteredOffice
2024-01-01
2024-12-31
05015359
bus:OrdinaryShareClass1
2024-01-01
2024-12-31
05015359
bus:LeadAgentIfApplicable
2024-01-01
2024-12-31
05015359
bus:Director2
2024-01-01
2024-12-31
05015359
core:WithinOneYear
2024-12-31
05015359
core:WithinOneYear
2023-12-31
05015359
core:LandBuildings
core:LongLeaseholdAssets
2023-12-31
05015359
core:PlantMachinery
2023-12-31
05015359
core:MotorVehicles
2023-12-31
05015359
core:LandBuildings
core:LongLeaseholdAssets
2024-12-31
05015359
core:PlantMachinery
2024-12-31
05015359
core:MotorVehicles
2024-12-31
05015359
core:UKTax
2024-01-01
2024-12-31
05015359
core:UKTax
2023-01-01
2023-12-31
05015359
core:RetainedEarningsAccumulatedLosses
2023-12-31
05015359
core:RetainedEarningsAccumulatedLosses
2022-12-31
05015359
core:RetainedEarningsAccumulatedLosses
2024-12-31
05015359
core:RetainedEarningsAccumulatedLosses
2023-12-31
05015359
core:ShareCapital
2024-12-31
05015359
core:ShareCapital
2023-12-31
05015359
core:BetweenOneFiveYears
2024-12-31
05015359
core:BetweenOneFiveYears
2023-12-31
05015359
core:MoreThanFiveYears
2024-12-31
05015359
core:MoreThanFiveYears
2023-12-31
05015359
core:LandBuildings
core:LongLeaseholdAssets
2023-12-31
05015359
core:PlantMachinery
2023-12-31
05015359
bus:LeadAgentIfApplicable
2023-01-01
2023-12-31
05015359
bus:SmallEntities
2024-01-01
2024-12-31
05015359
bus:Audited
2024-01-01
2024-12-31
05015359
bus:SmallCompaniesRegimeForAccounts
2024-01-01
2024-12-31
05015359
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
05015359
bus:FullAccounts
2024-01-01
2024-12-31
05015359
bus:OrdinaryShareClass1
2024-12-31
05015359
bus:OrdinaryShareClass1
2023-12-31
05015359
core:OfficeEquipment
2024-01-01
2024-12-31
05015359
core:OfficeEquipment
2023-12-31
05015359
core:OfficeEquipment
2024-12-31
COMPANY REGISTRATION NUMBER:
05015359
Year ended 31 December 2024
|
Independent auditor's report to the members |
3 |
|
|
|
Statement of income and retained earnings |
7 |
|
|
|
Statement of financial position |
8 |
|
|
|
Notes to the financial statements |
9 |
|
|
Year ended 31 December 2024
The director presents his report and the financial statements of the company for the year ended
31 December 2024
.
Director
The director who served the company during the year was as follows:
Director's responsibilities statement
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
-
so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
5 March 2025
and signed on behalf of the board by:
|
Registered office: |
|
217 Long Lane |
|
Halesowen |
|
West Midlands |
|
B62 9JT |
|
|
Independent Auditor's Report to the Members of
Palziv UK Limited |
|
Year ended 31 December 2024
Opinion
We have audited the financial statements of Palziv UK Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the director's report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the director's report and from the requirement to prepare a strategic report.
Responsibilities of the director
As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identified areas of the company's activities that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations.We assessed the risk of each of these areas and carried out selected testing on all key areas of the company's financial statements. When carrying out selective testing, we set our sample sizes according to the assess risk levels, with higher risk areas being tested more rigourously through increased sample sizes, than lower risk areas. We communicated such areas throughout our team and remained alert to any indications of non-compliance throughout the audit, along with the assessed risk of each area. In some areas, internal control systems that may be commonplace at large organisations, such as segregation of duties for instance, are not feasible due to the size of the entity. We have considered this, as part of our ongoing understanding of the company, when assessing internal controls and their impact on the assessment of risk in key areas. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
|
Christopher Goldie BSc ACA |
|
(Senior Statutory Auditor) |
|
|
For and on behalf of |
|
Chartwells Accountants Limited |
|
Chartered Accountants & statutory auditor |
|
217 Long Lane |
|
Halesowen |
|
West Midlands |
|
B62 9JT |
|
5 March 2025
|
Statement of Income and Retained Earnings |
|
Year ended 31 December 2024
|
2024 |
2023 |
|
Note |
£ |
£ |
|
Turnover |
4,020,738 |
4,429,518 |
|
|
|
|
Cost of sales |
3,441,203 |
3,850,600 |
|
----------- |
----------- |
|
Gross profit |
579,535 |
578,918 |
|
|
|
|
Administrative expenses |
518,245 |
510,514 |
|
-------- |
-------- |
|
Operating profit |
61,290 |
68,404 |
|
|
|
|
|
-------- |
-------- |
|
Profit before taxation |
6 |
61,290 |
68,404 |
|
|
|
|
|
Tax on profit |
7 |
15,400 |
14,655 |
|
------- |
------- |
|
Profit for the financial year and total comprehensive income |
45,890 |
53,749 |
|
------- |
------- |
|
|
|
|
|
Retained earnings at the start of the year |
504,511 |
450,762 |
|
-------- |
-------- |
|
Retained earnings at the end of the year |
550,401 |
504,511 |
|
-------- |
-------- |
|
|
|
All the activities of the company are from continuing operations.
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
8 |
|
10,393 |
1,380 |
|
|
|
|
|
Current assets
|
Stocks |
659,223 |
|
785,713 |
|
Debtors |
9 |
998,575 |
|
906,671 |
|
Cash at bank and in hand |
143,849 |
|
162,311 |
|
----------- |
|
----------- |
|
1,801,647 |
|
1,854,695 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
10 |
1,259,343 |
|
1,351,541 |
|
----------- |
|
----------- |
|
Net current assets |
|
542,304 |
503,154 |
|
|
-------- |
-------- |
|
Total assets less current liabilities |
|
552,697 |
504,534 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
2,295 |
22 |
|
|
-------- |
-------- |
|
Net assets |
|
550,402 |
504,512 |
|
|
-------- |
-------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
11 |
|
1 |
1 |
|
Profit and loss account |
|
550,401 |
504,511 |
|
|
-------- |
-------- |
|
Shareholders funds |
|
550,402 |
504,512 |
|
|
-------- |
-------- |
|
|
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
5 March 2025
, and are signed on behalf of the board by:
Company registration number:
05015359
|
Notes to the Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 217 Long Lane, Halesowen, West Midlands, B62 9JT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepare in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Long Leasehold Property |
- |
10% straight line |
|
Plant and Machinery |
- |
20% straight line |
|
Motor Vehicles |
- |
25% straight line |
|
Office Equipment |
- |
15% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Auditor's remuneration
|
2024 |
2023 |
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
7,950 |
7,950 |
|
------ |
------ |
|
|
|
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2023:
6
).
6.
Profit before taxation
Profit before taxation is stated after charging:
|
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
2,803 |
879 |
|
------ |
---- |
|
|
|
7.
Tax on profit
Major components of tax expense
Current tax:
|
UK current tax expense |
13,127 |
14,801 |
|
|
|
Deferred tax:
|
Origination and reversal of timing differences |
2,273 |
(
146) |
|
------- |
------- |
|
Tax on profit |
15,400 |
14,655 |
|
------- |
------- |
|
|
|
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2023: lower than) the
standard rate of corporation tax in the UK
of
25
% (2023:
23.52
%).
|
2024 |
2023 |
|
£ |
£ |
|
Profit on ordinary activities before taxation |
61,290 |
68,404 |
|
------- |
------- |
|
Profit on ordinary activities by rate of tax |
15,322 |
16,088 |
|
Effect of expenses not deductible for tax purposes |
5 |
742 |
|
Effect of capital allowances and depreciation |
(
2,200) |
(
19) |
|
Effect of different UK tax rates on some earnings |
– |
(2,010) |
|
Deferred tax |
2,273 |
(
146)
|
|
------- |
------- |
|
Tax on profit |
15,400 |
14,655 |
|
------- |
------- |
|
|
|
8.
Tangible assets
|
Long leasehold property |
Plant and machinery |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
Cost |
|
|
|
|
|
|
At 1 January 2024 |
20,112 |
70,328 |
22,828 |
17,487 |
130,755 |
|
Additions |
– |
– |
11,816 |
– |
11,816 |
|
Disposals |
– |
– |
(
22,828) |
– |
(
22,828) |
|
------- |
------- |
------- |
------- |
-------- |
|
At 31 December 2024 |
20,112 |
70,328 |
11,816 |
17,487 |
119,743 |
|
------- |
------- |
------- |
------- |
-------- |
|
Depreciation |
|
|
|
|
|
|
At 1 January 2024 |
19,983 |
70,216 |
22,828 |
16,348 |
129,375 |
|
Charge for the year |
129 |
54 |
2,173 |
447 |
2,803 |
|
Disposals |
– |
– |
(
22,828) |
– |
(
22,828) |
|
------- |
------- |
------- |
------- |
-------- |
|
At 31 December 2024 |
20,112 |
70,270 |
2,173 |
16,795 |
109,350 |
|
------- |
------- |
------- |
------- |
-------- |
|
Carrying amount |
|
|
|
|
|
|
At 31 December 2024 |
– |
58 |
9,643 |
692 |
10,393 |
|
------- |
------- |
------- |
------- |
-------- |
|
At 31 December 2023 |
129 |
112 |
– |
1,139 |
1,380 |
|
------- |
------- |
------- |
------- |
-------- |
|
|
|
|
|
|
9.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
877,966 |
815,112 |
|
Prepayments and accrued income |
49,903 |
51,774 |
|
Other debtors |
70,706 |
39,785 |
|
-------- |
-------- |
|
998,575 |
906,671 |
|
-------- |
-------- |
|
|
|
10.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
23,973 |
26,162 |
|
Amounts owed to group undertakings |
1,131,267 |
1,247,448 |
|
Accruals and deferred income |
52,207 |
52,445 |
|
Corporation tax |
13,127 |
14,801 |
|
Social security and other taxes |
37,650 |
7,856 |
|
Other creditors |
1,119 |
2,829 |
|
----------- |
----------- |
|
1,259,343 |
1,351,541 |
|
----------- |
----------- |
|
|
|
11.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
1 |
1 |
1 |
1 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
12.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
110,533 |
109,129 |
|
Later than 1 year and not later than 5 years |
440,728 |
436,516 |
|
Later than 5 years |
100,035 |
209,164 |
|
-------- |
-------- |
|
651,296 |
754,809 |
|
-------- |
-------- |
|
|
|
13.
Related party transactions
During the year the company purchased goods with a value of £2,792,269 (2023: £3,556,490) from its parent company Palziv Ein Hanatziv Agricultural. At the year end the company owed £975,421 to the parent company (2023: £1,213,490) During the year the company purchased goods from its fellow subsidiary company Tropal Romania SRL of £229,263 (2023: £70,972) . As at 31 December 2024, there was an outstanding balance due to Tropal Romania SRL of £18,665 (2023: £33,958) During the year the company purchased goods from its fellow subsidiary company Palziv North America of £137,181 (2023: £Nil) . As at 31 December 2024, there was an outstanding balance due to Palziv North America of £137,181 (2023: £nil)
14.
Controlling party
The parent company of
Palziv UK Limited
is Palziv Ein Hanaziv Agricultural Co-Operative Society Limited, a company incorporated in Israel. Group financial statements are prepared and are available from: Ein Hanatziv M.P. Emek Hamaayanot 1080500 Israel