Wallbox UK Limited - Period Ending 2019-12-30
Wallbox UK Limited - Period Ending 2019-12-30
Registration number:
Wallbox UK Limited
for the Period from 1 April 2019 to 30 December 2019
Wallbox UK Limited
(Registration number: 11267771)
Balance Sheet as at 30 December 2019
Note |
2019 |
2019 |
|
Current assets |
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Stocks |
|
|
|
Debtors |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
3,000 |
3,000 |
|
Profit and loss account |
(393,197) |
(275,886) |
|
Total equity |
(390,197) |
(272,886) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Wallbox UK Limited
Notes to the Financial Statements for the Period from 1 April 2019 to 30 December 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the parent company that it will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of the signing of these financial statements.
On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.
Due to the widespread pandemic and medium to long term impact of the corona virus, future results may be adversely affected. The director, where possible, has implemented cost cutting measures in an attempt to reduce the loss from any reduction in income. As stated, the director will financially support the company when applicable.
Wallbox UK Limited
Notes to the Financial Statements for the Period from 1 April 2019 to 30 December 2019
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Wallbox UK Limited
Notes to the Financial Statements for the Period from 1 April 2019 to 30 December 2019
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Stocks |
2019 |
2019 |
|
Other inventories |
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Wallbox UK Limited
Notes to the Financial Statements for the Period from 1 April 2019 to 30 December 2019
Debtors |
2019 |
2019 |
|
Trade debtors |
|
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Other debtors |
- |
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2019 |
|
Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
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Taxation and social security |
|
- |
|
Accruals and deferred income |
|
- |
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Other creditors |
|
- |
|
|
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Parent and ultimate parent undertaking |
The company's immediate parent is
The registered office is C/Anabel Segura 7 H1, Alcobendas, Madrid, Spain, CP28108.