Elesa (UK) Ltd. Filleted accounts for Companies House (small and micro)

ELESA (UK) LTD.

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		383,114	406,828

Current assets

Stocks		805,874	815,368
Debtors	6	907,787	975,552
Cash at bank and in hand		476,704	730,820
		------------	------------
		2,190,365	2,521,740

Creditors: amounts falling due within one year	7	( 1,067,470)		( 1,270,294)
		------------		------------
Net current assets			1,122,895	1,251,446
			------------	------------
Total assets less current liabilities			1,506,009	1,658,274

Provisions

Taxation including deferred tax	( 14,517)	( 30,330)
	------------	------------
Net assets	1,491,492	1,627,944
	------------	------------

Capital and reserves

Called up share capital	4,000	4,000
Share premium account	175,861	175,861
Revaluation reserve	242,604	321,029
Profit and loss account	1,069,027	1,127,054
	------------	------------
Shareholders funds	1,491,492	1,627,944
	------------	------------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 9 May 2025 , and are signed on behalf of the board by:

Nigel Pritchett	Andrea Bertani
Director	Director

Company registration number: 00577223

ELESA (UK) LTD.

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 26 Moorlands Industrial Estate, Metheringham, Lincoln, Lincs, LN4 3HX.

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. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements There have been no judgements that management has made in the process of applying the entity's accounting policies that have had a significant effect on the amounts recognised in the financial statements. - Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - Stock provisions - The company sells parts and equipment and its materials can become subject to obsolescence due to manufacturing specifications and other factors. As a result it is necessary to consider the recoverability of the cost of certain stock items and the associated provision required. When making these assessments management considers the nature and condition of the stocks as well as considering the possible future applications. The value of stock provided for within the financial statements is £302,219 (2023 - £278,246). Revenue recognition The turnover shown in the profit and loss account represents goods sold during the year, exclusive of Value Added Tax, and is recognised on despatch. 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 material 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. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Tangible assets The company previously adopted a policy of revaluing freehold land and buildings and they were stated at their revalued amount less any subsequent depreciation and accumulated impairment losses. The company has adopted the transition exemption under FRS 102 paragraph 35.10(d) and has elected to use the previous revaluation as deemed cost. The difference between depreciation based on the deemed cost charged in the profit and loss account and the asset's original cost is transferred from the revaluation to retained earnings. All fixed assets are initially recorded at cost. 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:

Freehold property	-	25 years straight line
Plant and machinery	-	10 years straight line
Fixtures and fittings	-	4 to 10 years straight line

Land is not depreciated 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, on a first in first out basis. Cost is based on purchase price.

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.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

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. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2023: 18 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 January 2024	399,715	58,102	582,636	1,040,453
Additions	–	–	12,791	12,791
	---------	--------	---------	------------
At 31 December 2024	399,715	58,102	595,427	1,053,244
	---------	--------	---------	------------
Depreciation
At 1 January 2024	96,987	31,577	505,061	633,625
Charge for the year	15,989	2,653	17,863	36,505
	---------	--------	---------	------------
At 31 December 2024	112,976	34,230	522,924	670,130
	---------	--------	---------	------------
Carrying amount
At 31 December 2024	286,739	23,872	72,503	383,114
	---------	--------	---------	------------
At 31 December 2023	302,728	26,525	77,575	406,828
	---------	--------	---------	------------

Tangible assets held at valuation

The company applied the transitional arrangements of Section 35 of FRS 102 and used a previous valuation as the deemed cost for certain Freehold properties. The properties are being depreciated from the transition date. As the assets are depreciated or sold an appropriate transfer is made from the revaluation reserve to retained earnings. At 31 December 2024 the net book value of the revalued properties was £245,775 (2023 - £259,375).

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 December 2024
Aggregate cost	316,634
Aggregate depreciation	(313,463)
	---------
Carrying value	3,171
	---------

At 31 December 2023
Aggregate cost	316,634
Aggregate depreciation	(310,291)
	---------
Carrying value	6,343
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	838,964	904,740
Other debtors	68,823	70,812
	---------	---------
	907,787	975,552
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	179,899	254,005
Amounts owed to group undertakings and undertakings in which the company has a participating interest	434,301	550,657
Corporation tax	24,001	42,289
Social security and other taxes	220,009	215,681
Other creditors	209,260	207,662
	------------	------------
	1,067,470	1,270,294
	------------	------------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	27,334	26,635
Later than 1 year and not later than 5 years	45,209	38,236
	--------	--------
	72,543	64,871
	--------	--------

9. Summary audit opinion

The auditor's report dated 22 July 2025 was unqualified .

The senior statutory auditor was Mark Bradshaw , for and on behalf of Streets Audit LLP .

10. Related party transactions

The results of the company are included in the consolidated financial statements of Elesa International S.R.L. (a company incorporated in Italy) which is considered to be the ultimate parent company. The company is owned 40% by Elesa International S.R.L., and 60% by Elesa Holdings (UK) Ltd, a company registered in England and Wales number 01291489, which in turn is owned 100% by Elesa International S.R.L. A further related entity, Elesa S.p.A. (a company incorporated in Italy), is the main manufacturing entity of the group. The company has taken advantage of the exemption in FRS 102 for disclosure of transactions between group companies. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 (section 1A).

11. Controlling party

The immediate parent company is Elesa Holdings (UK) Ltd . a company under the control of Elesa International S.R.L a company registered in Italy. The consolidated financial statements of Elesa International S.R.L are available from Elesa International S.R.L Via Pompeii 29 Monza (MB) Italy 20900.