REGISTERED NUMBER: |
BALLUFF LTD |
Financial Statements for the Year Ended 31 December 2021 |
REGISTERED NUMBER: |
BALLUFF LTD |
Financial Statements for the Year Ended 31 December 2021 |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BALLUFF LTD |
Company Information |
for the Year Ended 31 December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
170 Edmund Street |
Birmingham |
West Midlands |
B3 2HB |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Balance Sheet |
31 December 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
Balluff Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
All amounts have been rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The company is not required to prepare consolidated accounts on the basis that the inclusion of its subsidiaries are not material for the purpose of giving a true and fair view. Accordingly, these financial statements present information about Balluff Limited on an individual basis. |
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. |
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 |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charges as an interest expense in the profit and loss account. |
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. |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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. |
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. |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Share based payments |
The company operates an equity-settled, share-based compensation plan, under which the entity received services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services is measure by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed os recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. |
The proceeds received, net of any directly attributable transaction costs, are credited to share capital (nominal value) and share premium when the options are exercised. |
Investments |
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are | initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. |
Interest income on debt securities, where applicable, is recognised in income using the effective interest | method. Dividends on equity securities are recognised in income when receivable. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid | investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
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. |
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. |
Dividends |
Dividend distribution to the company’s shareholders is recognised in the financial statements in the reporting | period in which the dividends are paid. |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Included in cost of land and buildings is freehold land of £ 100,000 (2020 - £ 100,000 ) which is not depreciated. |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 20 Cheshire Avenue, Lostock Gralam, Northwich, Cheshire, CW9 7UA |
Nature of business: |
% |
Class of shares: | holding |
31.12.21 | 31.12.20 |
£ | £ |
Aggregate capital and reserves |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
5. | FIXED ASSET INVESTMENTS - continued |
Registered office: 20 Cheshire Avenue, Lostock Gralam, Northwich, Cheshire, CW9 7UA |
Nature of business: |
% |
Class of shares: | holding |
31.12.21 | 31.12.20 |
£ | £ |
Aggregate capital and reserves |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Tax |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Accrued expenses |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary | 1 | 34,444 | 34,444 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
BALLUFF LTD (REGISTERED NUMBER: 01349404) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
The company's parent company is Gebhard Balluff Holding GmbH Neuhausen a.d.F., incorporated in Germany |
The ultimate parent company is Balluff Verwaltungs GmbH Neuhausen a.d.F., incorporated in Germany. |
The most senior parent entity producing publicly available financial statements is Balluff Verwaltungs GmbH Neuhausen a.d.F. These financial statements are available upon request from www.handelsregister.de. |