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REGISTERED NUMBER: 01349404 (England and Wales)















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: K Stegmaier-Hermle
A Sorsby





REGISTERED OFFICE: 20 Cheshire Avenue
Lostock Gralam
Northwich
Cheshire
CW9 7UA





REGISTERED NUMBER: 01349404 (England and Wales)





AUDITORS: Rödl & Partner Limited
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 1,182,440 1,248,877
Investments 5 4 4
1,182,444 1,248,881

CURRENT ASSETS
Debtors 6 1,670,386 1,762,224
Cash at bank 1,668,500 2,752,928
3,338,886 4,515,152
CREDITORS
Amounts falling due within one year 7 1,973,956 2,505,113
NET CURRENT ASSETS 1,364,930 2,010,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,547,374

3,258,920

PROVISIONS FOR LIABILITIES 97,585 79,336
NET ASSETS 2,449,789 3,179,584

CAPITAL AND RESERVES
Called up share capital 8 34,444 34,444
Retained earnings 2,415,345 3,145,140
SHAREHOLDERS' FUNDS 2,449,789 3,179,584

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 and authorised for issue on 6 September 2022 and were signed on its behalf by:





A Sorsby - Director


BALLUFF LTD (REGISTERED NUMBER: 01349404)

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


1. STATUTORY INFORMATION

Balluff Ltd 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 pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2.5% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33.33% on cost

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 21 (2020 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 1,408,771 293,829 79,585 1,782,185
Additions - 1,278 583 1,861
At 31 December 2021 1,408,771 295,107 80,168 1,784,046
DEPRECIATION
At 1 January 2021 232,634 229,897 70,777 533,308
Charge for year 32,719 30,994 4,585 68,298
At 31 December 2021 265,353 260,891 75,362 601,606
NET BOOK VALUE
At 31 December 2021 1,143,418 34,216 4,806 1,182,440
At 31 December 2020 1,176,137 63,932 8,808 1,248,877

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 4
NET BOOK VALUE
At 31 December 2021 4
At 31 December 2020 4

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Multiswitch Limited
Registered office: 20 Cheshire Avenue, Lostock Gralam, Northwich, Cheshire, CW9 7UA
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
31.12.21 31.12.20
£    £   
Aggregate capital and reserves 2 2

BALLUFF LTD (REGISTERED NUMBER: 01349404)

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


5. FIXED ASSET INVESTMENTS - continued

Multiprox Limited
Registered office: 20 Cheshire Avenue, Lostock Gralam, Northwich, Cheshire, CW9 7UA
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
31.12.21 31.12.20
£    £   
Aggregate capital and reserves 2 2

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 1,596,807 1,712,108
Amounts owed by group undertakings - 4,411
Other debtors 4,133 5,188
Tax 39,215 -
Prepayments 30,231 40,517
1,670,386 1,762,224

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 251,042 506,950
Amounts owed to group undertakings 1,027,235 863,609
Tax - 45,428
Social security and other taxes 672,704 1,065,287
Accrued expenses 22,975 23,839
1,973,956 2,505,113

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
34,444 Ordinary 1 34,444 34,444

9. 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

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 R Hermle.

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.