Company registration number 00503995 (England and Wales)
VOLLMER UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
VOLLMER UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
VOLLMER UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
143,156
94,102
Current assets
Stocks
194,888
581,886
Debtors
5
1,157,359
636,728
Cash at bank and in hand
484,671
199,694
1,836,918
1,418,308
Creditors: amounts falling due within one year
6
(710,754)
(267,606)
Net current assets
1,126,164
1,150,702
Net assets
1,269,320
1,244,804
Capital and reserves
Called up share capital
7
750,000
750,000
Profit and loss reserves
519,320
494,804
Total equity
1,269,320
1,244,804

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 February 2024 and are signed on its behalf by:
Mr M J Cross
Director
Company registration number 00503995 (England and Wales)
VOLLMER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Vollmer Uk Limited is a private company limited by shares incorporated in England and Wales. The registered office is disclosed on the company information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

 

Sale of goods

Turnover from the sale of goods is recognised on delivery of goods, when all of the following

conditions are satisfied:

Rendering of services

Turnover from services is recognised in the period in which the service is provided to the customer. Costs in relation to servicing are expensed to the profit and loss account as incurred.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

 

Repairs and maintenance costs are charged to the profit and loss account during the period in which they are incurred.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
3.33% straight line
Plant and machinery
50% straight line
Fixtures and fittings
10 - 33.3% straight line
Motor vehicles
20 - 33.3% straight line
VOLLMER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and net realisable value on an average cost basis after making due allowance for obsolete and slow-moving stocks.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

VOLLMER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.11

Warranties

The company provides a warranty on their machinery. A provision is recognised in the financial statements for an estimate of the costs of making good machinery under warranty sold before the balance sheet date.

 

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Such estimates include that of bad debts, stock and warranty provisions.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
11
11
VOLLMER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
229,755
12,844
154,573
127,029
524,201
Additions
-
0
-
0
11,655
91,995
103,650
Disposals
-
0
-
0
-
0
(89,349)
(89,349)
At 31 December 2023
229,755
12,844
166,228
129,675
538,502
Depreciation and impairment
At 1 January 2023
171,303
11,490
151,857
95,449
430,099
Depreciation charged in the year
6,816
957
3,513
24,655
35,941
Eliminated in respect of disposals
-
0
-
0
-
0
(70,694)
(70,694)
At 31 December 2023
178,119
12,447
155,370
49,410
395,346
Carrying amount
At 31 December 2023
51,636
397
10,858
80,265
143,156
At 31 December 2022
58,452
1,354
2,716
31,580
94,102
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,149,388
627,574
Other debtors
7,971
9,154
1,157,359
636,728
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
367,182
67,493
Taxation and social security
75,272
156,718
Other creditors
268,300
43,395
710,754
267,606
VOLLMER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
500,000
500,000
500,000
500,000
Redeemable ordinary shares of £1 each
250,000
250,000
250,000
250,000
750,000
750,000
750,000
750,000

Ordinary and redeemable ordinary shares are entitled to one vote per share, a dividend and a return of capital upon winding up or distribution. The redeemable ordinary shares can be redeemed subject to certain conditions. Ordinary shares cannot be redeemed.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Melvin Bailey
Statutory Auditor:
Rogers Spencer
Date of audit report:
9 February 2024
9
Related party transactions

Transactions during the year and balances as at the year end with group associated entities were as follows:

Associated entity

Purchases From

Sales to

Debtor

Creditor

Loroch GmbH

£37,631

-

-

£4,787

SuS Schleiftechnik und Maschinenhandel GmbH

£1,141

£386,966

£169,071

-

Vollmer Werke Maschinenfabrik GmbH

£1,309,210

£1,445

-

£419,706

2023-12-312023-01-01false09 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedMr P C AllenMr M J Crossfalse005039952023-01-012023-12-31005039952023-12-31005039952022-12-3100503995core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3100503995core:PlantMachinery2023-12-3100503995core:FurnitureFittings2023-12-3100503995core:MotorVehicles2023-12-3100503995core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3100503995core:PlantMachinery2022-12-3100503995core:FurnitureFittings2022-12-3100503995core:MotorVehicles2022-12-3100503995core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3100503995core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3100503995core:CurrentFinancialInstruments2023-12-3100503995core:CurrentFinancialInstruments2022-12-3100503995core:ShareCapital2023-12-3100503995core:ShareCapital2022-12-3100503995core:RetainedEarningsAccumulatedLosses2023-12-3100503995core:RetainedEarningsAccumulatedLosses2022-12-3100503995core:ShareCapitalOrdinaryShares2023-12-3100503995core:ShareCapitalOrdinaryShares2022-12-3100503995bus:Director22023-01-012023-12-3100503995core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3100503995core:PlantMachinery2023-01-012023-12-3100503995core:FurnitureFittings2023-01-012023-12-3100503995core:MotorVehicles2023-01-012023-12-31005039952022-01-012022-12-3100503995core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3100503995core:PlantMachinery2022-12-3100503995core:FurnitureFittings2022-12-3100503995core:MotorVehicles2022-12-31005039952022-12-3100503995core:WithinOneYear2023-12-3100503995core:WithinOneYear2022-12-3100503995bus:PrivateLimitedCompanyLtd2023-01-012023-12-3100503995bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3100503995bus:FRS1022023-01-012023-12-3100503995bus:Audited2023-01-012023-12-3100503995bus:Director12023-01-012023-12-3100503995bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP