REGISTERED NUMBER: 07754143 (England and Wales)

HRANIPEX LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Mitchell

Z Ryzner

REGISTERED OFFICE:

Unit 2 Radial Park

Solihull Parkway

Birmingham Business Park

Birmingham

West Midlands

B37 7WN

REGISTERED NUMBER:

07754143 (England and Wales)

AUDITORS:

Sephton & Company LLP

Chartered Certified Accountants

Statutory Auditors

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

FIXED ASSETS

Tangible assets

4

206,191

252,202

CURRENT ASSETS

Stocks

621,796

595,752

Debtors

5

1,175,551

1,316,652

Cash at bank and in hand

227,343

1,077,337

2,024,690

2,989,741

CREDITORS

Amounts falling due within one year

6

4,096,972

4,610,758

NET CURRENT LIABILITIES

(2,072,282

)

(1,621,017

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,866,091

)

(1,368,815

)

CREDITORS

Amounts falling due after more than one year

7

728,315

756,509

NET LIABILITIES

(2,594,406

)

(2,125,324

)

CAPITAL AND RESERVES

Called up share capital

5

5

Fair value reserve

24,545

29,152

Retained earnings

(2,618,956

)

(2,154,481

)

SHAREHOLDERS' FUNDS

(2,594,406

)

(2,125,324

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:

S Mitchell - Director

1.	STATUTORY INFORMATION

Hranipex Limited 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises turnover at the point of goods despatch in line with their invoicing procedures. It does not have any material amounts of deferred income recognised in its liabilities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

straight line over the life of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct purchase costs, are based on the method most appropriate to the type of inventory class, but usually on a weighted average basis. Estimated selling price less costs to complete and sell is based on the estimated selling price of the goods less any estimated completion or selling costs likely to be incurred on the sale.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to estimated selling price less costs to complete and sell and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stock is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 balance sheet 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.

Going concern

At the balance sheet date the company was insolvent. However, the accounts have been prepared under the going concern basis, on the assumption that continued support will be forthcoming from the parent company. The parent company has provided written confirmation that they will provide financial support necessary to enable Hranipex Limited to meet its financial commitments as and when they fall due. The guarantee is valid for one year from the signing of these accounts. The parent company will not request payment for any amounts due to them from the company, if it will cause the company undue financial strain or result in the company not being able to meet its commitments to creditors.

Financial instruments

The company activities expose it to the financial risks of changes in foreign exchange rates. Forward currency contracts are used to manage this risk. Forward currency contracts are initially measured at fair value on the contract date (usually Zero value) and are subsequently remeasured to fair value at each reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

17,353

19,472

299,621

205,326

541,772

Additions

-

656

-

286

942

Disposals

-

(569

)

-

-

(569

)

At 31 December 2024

17,353

19,559

299,621

205,612

542,145

DEPRECIATION

At 1 January 2024

4,700

4,873

92,405

187,592

289,570

Charge for year

1,735

2,240

31,082

11,819

46,876

Eliminated on disposal

-

(492

)

-

-

(492

)

At 31 December 2024

6,435

6,621

123,487

199,411

335,954

NET BOOK VALUE

At 31 December 2024

10,918

12,938

176,134

6,201

206,191

At 31 December 2023

12,653

14,599

207,216

17,734

252,202

5.

DEBTORS

31/12/24

31/12/23

£

£

Amounts falling due within one year:

Trade debtors

948,550

1,035,815

Other debtors

108,325

162,161

1,056,875

1,197,976

Amounts falling due after more than one year:

Other debtors

118,676

118,676

Aggregate amounts

1,175,551

1,316,652

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

3,748,378

4,218,567

Taxation and social security

303,413

287,007

Other creditors

45,181

105,184

4,096,972

4,610,758

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Amounts owed to group undertakings

658,187

674,693

Other creditors

70,128

81,816

728,315

756,509

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

£

Within one year

199,439

214,408

Between one and five years

603,571

670,920

In more than five years

183,891

321,644

986,901

1,206,972

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

The Report of the Auditors was unqualified.

Darren Paul Carter (Senior Statutory Auditor)

for and on behalf of Sephton & Company LLP

10.	ULTIMATE PARENT COMPANY

The ultimate parent undertaking and controlling party is Hranipex a.s, a company incorporated in the Czech Republic. The registered address of Hranipex a.s is J. Ryznerove 97, Komorovice, 396 01 Humpolec, Czech Republic.