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REGISTERED NUMBER:
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EBROFROST UK LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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REGISTERED NUMBER:
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EBROFROST UK LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 7 |
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EBROFROST UK LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
82 High Street |
Tenterden |
Kent |
TN30 6JG |
EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743) |
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BALANCE SHEET |
31ST DECEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Ebrofrost UK Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors believe it is appropriate to prepare the financial statements on a going concern basis |
as the company has a solvent balance sheet and the high level of losses incurred during recent |
years are not anticipated to continue into 2018. The company has received its BRC accreditation |
which will allow it to sell its products to third parties and operate at full capacity. In the short term |
the company is able to meet its liabilities but, should it be required, the company will continue to |
be financially supported by its parent company Ebrofrost Holdings GmbH. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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The company adds to the carrying amount of an item of fixed assets the cost of replacing part of |
such an item when that cost is incurred if the replacement part is expected to provide incremental |
future benefits to the company. The carrying amount of the replacement part is derecognised. |
Repairs and maintenance are charged to the profit or loss during the period in which they are |
incurred. |
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No depreciation is provided on assets in the course of construction until the asset is brought into |
use. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance |
sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. |
Those held under finance leases are depreciated over their estimated useful lives or the lease |
term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st January 2017 |
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Additions |
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Disposals | ( |
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At 31st December 2017 |
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DEPRECIATION |
At 1st January 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
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COST |
At 1st January 2017 |
and 31st December 2017 |
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DEPRECIATION |
At 1st January 2017 |
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Charge for year |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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5. | STOCKS |
2017 | 2016 |
£ | £ |
Finished goods |
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Raw materials |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 9) |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts (see note 9) |
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EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase |
contracts |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 2,968,796 | 2,968,796 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | RELATED PARTY DISCLOSURES |
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As a wholly owned subsidiary of Ebro Foods S.A. the company is exempt from the requirements to |
disclose transactions to other wholly owned members of the group headed by Ebro Foods S.A. |
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Ebrofrost Holdings GmbH: |
Ebrofrost Holdings GmbH has lent a further €460,000 (2016 - €1,500,000) to Ebrofrost UK Limited |
during the year. At the year end €1,060,000 (2016 - €600,000) was outstanding. The loan was |
granted for an unlimited period of time and may be terminated at the end of any month on giving |
nine months notice of termination. Interest is charged at 3% per annum. |
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Herba Foods S.L: |
Herba Foods S.L provides a cash pooling arrangement with the company, at the year end the |
company owed Herba Foods S.L. £170,262 (2016 - £nil). The arrangement was granted for an |
unlimited period of time and may be terminated on demand. Interest is charged at 2% per |
annum.. |
EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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13. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Ebrofrost Holding GmbH, a company incorporated in Germany, which |
holds 100% of the issued share capital of Ebrofrost UK Limited. |
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The ultimate parent company and controlling party is Ebro Foods S.A., a company incorporated in |
Spain. |
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The financial statements of Ebro Foods S.A. which represent the smallest and largest group in |
which the company is consolidated, are available from Ebro Foods S.A., Paseo de Castellana, 20, |
28046, Madrid, Spain. |