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REGISTERED NUMBER: SC360107 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Eickhorn-Solingen Limited

Eickhorn-Solingen Limited (Registered number: SC360107)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Eickhorn-Solingen Limited

Company Information
for the Year Ended 31 December 2020







DIRECTOR: S Kerr





REGISTERED OFFICE: c/o Alastair Dunn
48 St Vincent Street
BTO
Glasgow
G2 5HS





REGISTERED NUMBER: SC360107 (Scotland)





ACCOUNTANTS: Locke Williams Associates LLP
Chartered Accountants
c/o Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL

Eickhorn-Solingen Limited (Registered number: SC360107)

Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes €    €    €    €   
FIXED ASSETS
Intangible assets 4 - 2,891
Tangible assets 5 - 421,243
Investments 6 1,046,675 -
1,046,675 424,134

CURRENT ASSETS
Stocks - 435,002
Debtors 7 - 225,430
Cash at bank - 101,775
- 762,207
CREDITORS
Amounts falling due within one year 8 - 323,359
NET CURRENT ASSETS - 438,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,046,675

862,982

CREDITORS
Amounts falling due after more than one
year

9

-

23,700
NET ASSETS 1,046,675 839,282

CAPITAL AND RESERVES
Called up share capital 11,594 11,594
Share premium 744,359 744,359
Retained earnings 290,722 83,329
SHAREHOLDERS' FUNDS 1,046,675 839,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Eickhorn-Solingen Limited (Registered number: SC360107)

Balance Sheet - continued
31 December 2020


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 director and authorised for issue on 31 March 2022 and were signed by:





S Kerr - Director


Eickhorn-Solingen Limited (Registered number: SC360107)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

Eickhorn-Solingen Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The company operates from its base in Germany and has no activities or presence in the United Kingdom . Its operations are based at Kolumbus Strasse 6, Solingen, Germany D42655. As at the year end the company's trade and all of its assets and liabilities have been transferred to a company registered and operating in Germany, Eickhorn-Solingen GmbH. Accordingly this company is now a holding company in respect of its investment in the new subsidiary.

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 financial statements contain information about Eickhorn-Solingen Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the net invoiced sales of goods, excluding value added tax. All of the company's activities are in Germany and therefore are external to the UK.

Patents and licences
The costs of acquiring patent and licence rights are written off over a period of 4 years, which is deemed to be the expected useful life of these.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is charged on the company's assets in accordance with the tax law applicable in Germany. The rates fall within the following ranges

Buildings over 50 years
Machinery over 3 to 15 years
Vehicles over 2 to 4 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Eickhorn-Solingen Limited (Registered number: SC360107)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year, which arises solely in Germany, comprises current taxation only as no deferred liabilities arise. 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 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.

Foreign currencies
The accounts are presented in Euros which represents the operational currency of the company. For the purposes of conversion of the accounts to sterling, a balance sheet rate of €1.1064 (2019 €1.1705) would be applicable and the average rate for the trading figures for the year to 31st December 2020 was €1.1289 (2019 €1.1342)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2019 - 17 ) .

Eickhorn-Solingen Limited (Registered number: SC360107)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
€   
COST
At 1 January 2020 110,333
Disposals (110,333 )
At 31 December 2020 -
AMORTISATION
At 1 January 2020 107,442
Charge for year 1,424
Eliminated on disposal (108,866 )
At 31 December 2020 -
NET BOOK VALUE
At 31 December 2020 -
At 31 December 2019 2,891

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
€    €    €   
COST
At 1 January 2020 465,717 562,811 1,028,528
Additions - 2,891 2,891
Disposals (465,717 ) (565,702 ) (1,031,419 )
At 31 December 2020 - - -
DEPRECIATION
At 1 January 2020 71,608 535,677 607,285
Charge for year 7,464 10,732 18,196
Eliminated on disposal (79,072 ) (546,409 ) (625,481 )
At 31 December 2020 - - -
NET BOOK VALUE
At 31 December 2020 - - -
At 31 December 2019 394,109 27,134 421,243

Eickhorn-Solingen Limited (Registered number: SC360107)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
€   
COST
Additions 1,046,675
At 31 December 2020 1,046,675
NET BOOK VALUE
At 31 December 2020 1,046,675

The investment refers to the net asset value of the company's balance sheet which has been transferred to a new subsidiary company Eickhorn-Solingen GmbH. This value therefore represents the cost of this investment at the time of the transfer in December 2020.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
€    €   
Trade debtors - 119,860
Other debtors - 105,570
- 225,430

The amount that was owed in 2018 by the company's immediate parent company was settled by a Euro 499,140 reduction in the share premium account. This reduction reflects the excess paid for the company upon acquisition which will be treated as a reduction in that company's investment in Eickhorn Solingen.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
€    €   
Trade creditors - 160,671
Taxation and social security - 24,433
Other creditors - 138,255
- 323,359

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.20 31.12.19
€    €   
Other creditors - 23,700

10. ULTIMATE CONTROLLING PARTY

The controlling party is S Kerr.

The company is controlled by the director, S Kerr, by virtue of his holding in the ultimate parent company as at the date of these accounts.