Acrelec UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07210638 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Acrelec Uk Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

J G M Mangeot

J Souissi

SECRETARY:

Castlegate Secretaries Limited

REGISTERED OFFICE:

East Wing, Focus 31

Mark Road

Hemel Hempstead

Hertfordshire

HP2 7BW

REGISTERED NUMBER:

07210638 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

FIXED ASSETS

Tangible assets

4

138,764

137,404

CURRENT ASSETS

Stocks

777,131

167,402

Debtors

5

2,702,940

1,771,613

Cash at bank

579,421

198,050

4,059,492

2,137,065

CREDITORS

Amounts falling due within one year

6

4,134,083

2,959,473

NET CURRENT LIABILITIES

(74,591

)

(822,408

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,173

(685,004

)

PROVISIONS FOR LIABILITIES

26,365

-

NET ASSETS/(LIABILITIES)

37,808

(685,004

)

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

27,808

(695,004

)

SHAREHOLDERS' FUNDS

37,808

(685,004

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 on 10 September 2019 and were signed on its behalf by:

J G M Mangeot - Director

1.	STATUTORY INFORMATION

Acrelec Uk 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A

"Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in

the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been

prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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 etc

-

33% on cost and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

213,205

Additions

28,647

At 31 December 2018

241,852

DEPRECIATION

At 1 January 2018

75,801

Charge for year

27,287

At 31 December 2018

103,088

NET BOOK VALUE

At 31 December 2018

138,764

At 31 December 2017

137,404

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

2,597,241

1,460,163

Other debtors

105,699

311,450

2,702,940

1,771,613

A charge is registered at Companies House by HSBC UK Bank PLC in relation to a security over cash

deposits held.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

3,387,082

1,256,979

Taxation and social security

492,860

1,135,378

Other creditors

254,141

567,116

4,134,083

2,959,473

7.	LEASING AGREEMENTS

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

31.12.18

31.12.17

£

£

Between one and five years

-

219,640

In more than five years

461,244

-

461,244

219,640

8.	RELATED PARTY DISCLOSURES

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, nor transactions with

directors conducted at a market rate.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Acrelec Group.

Acrelec Group are incorporated in France and regarded by the directors as being the Company's

ultimate parent company.

3 Rue Louis de Broglie,

77400 Saint-Thibault-des-Vignes

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Acrelec Uk Limited for the year ended 31 December 2018 which

comprise the Income Statement, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Acrelec Uk Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Acrelec Uk Limited and state those matters that we have agreed to state to the Board of Directors of Acrelec Uk Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Acrelec Uk Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Acrelec Uk Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Acrelec Uk Limited. You consider that Acrelec Uk Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Acrelec Uk Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

Date: .............................................