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REGISTERED NUMBER: 01325473 (England and Wales)















Report of the Directors and

Financial Statements for the Year Ended 31 December 2021

for

Bauer Kompressoren UK Limited

Bauer Kompressoren UK Limited (Registered number: 01325473)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Report of the Directors 2

Balance Sheet 4

Notes to the Financial Statements 5


Bauer Kompressoren UK Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Dr M C Bayat
P Bayat
J E Armour



REGISTERED OFFICE: Unit 410
Haydock Lane
Haydock
St Helens
Merseyside
WA11 9TH



REGISTERED NUMBER: 01325473 (England and Wales)



SENIOR STATUTORY AUDITOR: Imran Farooq



AUDITORS: Rödl & Partner Limited
Statutory Auditor
170 Edmund Street
Birmingham
B3 2HB

Bauer Kompressoren UK Limited (Registered number: 01325473)

Report of the Directors
for the Year Ended 31 December 2021

The directors present their report with the financial statements of the company for the year ended 31 December 2021.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the assembly and supply of air and gas compressor packages and life support equipment.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report.

Dr M C Bayat
P Bayat
J E Armour

CONTINUED FINANCIAL SUPPORT
The directors are delighted to report the continued financial support in the company by the ultimate holding company, BAUER COMP Holding AG.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Rödl & Partner Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.


Bauer Kompressoren UK Limited (Registered number: 01325473)

Report of the Directors
for the Year Ended 31 December 2021

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:



Dr M C Bayat - Director


25 April 2022

Bauer Kompressoren UK Limited (Registered number: 01325473)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 37,846 15,823

CURRENT ASSETS
Stocks 1,242,260 848,444
Debtors 6 1,042,427 1,151,954
Cash at bank and in hand 252,801 293,149
2,537,488 2,293,547
CREDITORS
Amounts falling due within one year 7 3,950,679 3,562,302
NET CURRENT LIABILITIES (1,413,191 ) (1,268,755 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,375,345

)

(1,252,932

)

PROVISIONS FOR LIABILITIES 9 6,196 1,942
NET LIABILITIES (1,381,541 ) (1,254,874 )

CAPITAL AND RESERVES
Called up share capital 10 770,000 770,000
Retained earnings (2,151,541 ) (2,024,874 )
SHAREHOLDERS' FUNDS (1,381,541 ) (1,254,874 )

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2022 and were signed on its behalf by:




P Bayat - Director



Dr M C Bayat - Director


Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Bauer Kompressoren 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.

The presentation currency of the financial statements is the Pound Sterling (£).


All amounts have been rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 (Section 1a) '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
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:-

a) Work in progress - Including levels of completion and provisions

b) Debtor recoverability - including provisions for bad debts.

The directors have considered key assumptions concerning the future and other key sources of estimation and uncertainty at the end of the reporting period and do not consider there are any areas where there is a material risk of adjustment to the carrying amounts of assets and liabilities within the next financial year.

Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued

Turnover
Revenue from the sale of goods shall be recognised when all the following conditions have been satisfied:
- the entity has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the entity retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the sale of goods is generally recognised when they are handed over to the transport firms which, under the terms of current contracts, mark the time when the above risks and rewards are transferred.

Revenue is not recognised if its recoverability is considered to be uncertain.

Revenue is stated net of discounts, allowances, rebates and returns, and does not include the proceeds from the disposal of raw materials and scrap.

Revenue includes also minor cost connected with the sales process, such as certification, recoveries of cost of transport, packaging, insurances etc

Revenue for services rendered is recorded in the profit & loss when the service has been provided to the customer.

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 - 25% to 50% on cost
Fixtures and fittings - 15% - 33% on cost
Motor vehicles - 25% straight line per annum
Computer equipment - 15% - 33% on cost

Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued

Stocks
Stocks have been valued at the lower of cost and net realisable value, after allowing for a provision for obsolete and slow moving stock items. Cost has been determined by the AVCO method and is based on purchase price. Work in progress has been valued at the lower of cost and net realisable value. Cost has been determined by the AVCO method and is based on purchase price, including related fixed and variable overheads and depreciation. Net realisable value is based on estimated selling price less the cost of disposal.


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.

Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with bank, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforcible right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the net asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.


Impairment of financial assets
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Foreign Currencies
Monetary 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
Assets held under hire purchase agreements and finance leases are capitalised and the capital element of future repayments is included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the lease period.

Pension costs and other post-retirement benefits
The company operates a defined contributions pension scheme and contributions payable to the scheme are charged to the profit and loss account in the period to which they relate.

Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
A provision is recognised in the balance sheet when the company has a constructive or legal obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at the current time value of money.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2020 - 25 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 253,576 226,481 12,300 87,684 580,041
Additions 28,579 800 - 5,833 35,212
At 31 December 2021 282,155 227,281 12,300 93,517 615,253
DEPRECIATION
At 1 January 2021 253,537 220,016 12,300 78,365 564,218
Charge for year 3,735 4,108 - 5,346 13,189
At 31 December 2021 257,272 224,124 12,300 83,711 577,407
NET BOOK VALUE
At 31 December 2021 24,883 3,157 - 9,806 37,846
At 31 December 2020 39 6,465 - 9,319 15,823

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 757,740 293,267
Amounts owed by group undertakings 255,140 592,647
Other debtors 1,299 4,549
Corporation tax 1,410 -
Prepayments and accrued income 26,838 261,491
1,042,427 1,151,954

Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Payments on account 883,368 911,141
Trade creditors 108,152 146,601
Amounts owed to group undertakings 2,504,882 654,356
Social security and other taxes 38,310 31,739
VAT 126,069 143,283
Other creditors 1,011 528
Bank loans 255,997 1,639,308
Accrued expenses 32,890 35,346
3,950,679 3,562,302

8. SECURED DEBTS

The bank loan is supported by a cross guarantee from the Ultimate Holding Company.

9. PROVISIONS FOR LIABILITIES
31.12.21 31.12.20
£    £   
Deferred tax
Accelerated capital allowances 6,196 1,942

Deferred
tax
£   
Balance at 1 January 2021 1,942
Provided during year 4,254
Balance at 31 December 2021 6,196

Movement in the year is in respect of calculated accelerated capital allowances.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
770,000 Ordinary £1 770,000 770,000

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

The Report of the Auditors was unqualified.

Imran Farooq (Senior Statutory Auditor)
for and on behalf of Rödl & Partner Limited

Bauer Kompressoren UK Limited (Registered number: 01325473)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

12. ULTIMATE CONTROLLING PARTY

The controlling party is BAUER COMP Holding GmbH.

The ultimate controlling party is Dr M C Bayat.

The results of the company have been consolidated within the financial statements of BAUER COMP Holding GmbH. This is the smallest group in which the results of the company are consolidated. Copies of the consolidated accounts are available from the registered office of that company.

BAUER COMP Holding GmbH heads up the largest group in which the results of Bauer Kompressoren UK Limited and its subsidiaries are consolidated. Copies of the consolidated accounts are available from the registered office of that company.

13. GOING CONCERN

The company has a deficit of net liabilities of £1,381,541 at 31 December 2021 (2020: £1,254,874) and as such, the company is dependent upon the continued financial support from its parent company. The directors have obtained written confirmation from the parent company that it will provide or procure such funding as may be required by the company to settle all external liabilities as they fall due for a period of at least twelve months from the approval of these financial statements.

After making enquiries and considering the uncertainties, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the financial statements.