REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
KNOELL UK HOLDINGS LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
KNOELL UK HOLDINGS LIMITED |
KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491) |
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 |
KNOELL UK HOLDINGS LIMITED |
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditor |
Cedar House |
63 Napier Street |
Sheffield |
S11 8HA |
KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491) |
Balance Sheet |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | COMPANY INFORMATION |
Knoell UK Holdings Limited is a |
The company's principal activities and nature of its operations are disclosed in the Directors' Report. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. |
Preparation of consolidated financial statements |
The financial statements contain information about Knoell UK Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 399 of the Companies Act 2006 not to prepare consolidated financial statements. |
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 group companies on the grounds that the company is a wholly owned subsidiary undertaking of the group who prepare consolidated financial statements that are publicly available. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. |
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities. |
KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
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 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 enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. 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. |
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors 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 payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand 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. |
Fixed asset investments |
Fixed asset investments are included in the balance sheet at cost after provision for any permanent diminution in value. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
Share Capital |
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2022 |
Impairments | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
During the year the Company's investment in its subsidiaries were impaired to their underlying net asset value. |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Bath House, 6-8 Bath Street, Bristol, BS1 6HL, UK |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Bath House, 6-8 Bath Street, Bristol, BS1 6HL, UK |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS |
2022 | 2021 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
VAT |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
KNOELL UK HOLDINGS LIMITED (REGISTERED NUMBER: 04665491) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for disclaimer of opinion |
We have been unable to place appropriate reliance on the adequacy of the audit work undertaken by the predecessor auditors of the company's financial statements for the year ended 31 December 2021. Our audit opinion on the current period's financial statements is therefore modified because of the pervasive effect this matter has both on the comparability and accuracy of the reported results for the current period's figures and the corresponding figures. |
Matters required to report by exception |
Notwithstanding our disclaimer of an opinion on the financial statements, in the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's report. |
Arising from the limitation of our work referred to above: |
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and |
- we were unable to determine whether adequate accounting records have been kept. |
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: |
- returns adequate for our audit have not been received from branches not visited by us; or |
- the financial statements are not in agreement with the accounting records and returns; or |
- certain disclosures of Director's remuneration specified by law are not made; or |
- we have not received all the information and explanations we require for our audit. |
for and on behalf of |
9. | PARENT COMPANY |
Knoell Germany GmbH, a company incorporated in Germany, is the parent company of the group for which consolidated financial statements are drawn up of which the company is a member. Copies of these financial statements are available from the ultimate parent company's registered office of Eastsite XII, Konrad-Zuse-Ring 25, 68163 Mannheim, Germany. |