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REGISTERED NUMBER: 02645469 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Tadano Demag UK Ltd

Tadano Demag UK Ltd (Registered number: 02645469)






Contents of the Financial Statements
for the year ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tadano Demag UK Ltd

Company Information
for the year ended 31 December 2022







DIRECTORS: T Motoyama
H Harnack





REGISTERED OFFICE: 14 Hikers Way
Crendon Industrial Park
Long Crendon
Aylesbury
Buckinghamshire
HP18 9RW





REGISTERED NUMBER: 02645469 (England and Wales)





AUDITORS: Paul Howley & Co Ltd
Chartered Certified Accountants
Statutory Auditors
42 Pitt Street
Barnsley
South Yorkshire
S70 1BB

Tadano Demag UK Ltd (Registered number: 02645469)

Balance Sheet
31 December 2022

31.12.22 31.12.21
as restated
Notes £    £   
CURRENT ASSETS
Debtors 4 6,509,886 176,547
Cash at bank 1,676,999 8,258,810
8,186,885 8,435,357
CREDITORS
Amounts falling due within one year 5 1,213,290 1,462,324
NET CURRENT ASSETS 6,973,595 6,973,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,973,595

6,973,033

CAPITAL AND RESERVES
Called up share capital 7,690,350 7,690,350
Retained earnings (716,755 ) (717,317 )
SHAREHOLDERS' FUNDS 6,973,595 6,973,033

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 19 October 2023 and were signed on its behalf by:





H Harnack - Director


Tadano Demag UK Ltd (Registered number: 02645469)

Notes to the Financial Statements
for the year ended 31 December 2022

1. STATUTORY INFORMATION

Tadano Demag UK 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.

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.

Going concern - Basis other than going concern
The company is part of a group that has undertaken a restructuring process following on from which the directors intend to liquidate the company in the next 12 months and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern. The financial statements do not include any amendments as a result of being prepared on a basis other than going concern.

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(I) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by group undertakings, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method. ·

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and amounts owed to group undertakings 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.

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

Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Tadano Demag UK Ltd (Registered number: 02645469)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
as restated
£    £   
Amounts owed by group undertakings 6,500,000 -
Other debtors 9,886 176,547
6,509,886 176,547

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
as restated
£    £   
Amounts owed to group undertakings 1,076,508 1,330,772
Taxation and social security 125,777 125,777
Other creditors 11,005 5,775
1,213,290 1,462,324

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

The Report of the Auditors was unqualified.

Paul Berry (Senior Statutory Auditor)
for and on behalf of Paul Howley & Co Ltd

Tadano Demag UK Ltd (Registered number: 02645469)

Notes to the Financial Statements - continued
for the year ended 31 December 2022

7. ULTIMATE CONTROLLING PARTY

The controlling party is Tadano Demag GmbH, a company incorporated in Germany.

The ultimate controlling party is Tadano Ltd, a company incorporated in Japan.

The parent undertaking of the largest group for which consolidated financial statements are prepared is Tadano Ltd, the group's financial statements are available to the public at www.tadano.com