Company registration number 05014168 (England and Wales)
BAUWERK GROUP UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BAUWERK GROUP UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BAUWERK GROUP UK LIMITED
COMPANY INFORMATION
Directors
Mr P Minns
Mr P Schmitter
Mr P Hardy
Mr M W R Kummer
Secretary
Mr D Stephens
Company number
05014168
Registered office
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP
Auditor
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
BAUWERK GROUP UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
29,049
6,626
Current assets
Stocks
140,394
181,483
Debtors
5
1,378,635
1,191,559
Cash at bank and in hand
188,584
296,137
1,707,613
1,669,179
Creditors: amounts falling due within one year
6
(221,835)
(224,192)
Net current assets
1,485,778
1,444,987
Net assets
1,514,827
1,451,613
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
1,514,825
1,451,611
Total equity
1,514,827
1,451,613

The directors of the company have 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 5 February 2024 and are signed on its behalf by:
Mr P  Schmitter
Director
Company registration number 05014168 (England and Wales)
BAUWERK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Bauwerk Group UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.

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 represents net invoiced sales of goods , excluding value added tax. Turnover is recognised once the stock is despatched from the factory or warehouse.

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.

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:

Leasehold improvements
Period of lease
Fixtures and fittings
20% - 50% on cost
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 valued at the lower of cost and net realisable value on an average basis, making allowance for obsolete and slow moving stock.

Cost is determined using the weighted average cost formula.

1.6
Financial instruments
Basic financial assets

Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Classification of financial liabilities

Creditors are not interest bearing and are included at their nominal value.

BAUWERK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

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

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.

1.8
Retirement benefits

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

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

 

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
6
6
BAUWERK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2023
57,008
27,780
84,788
Additions
28,607
3,190
31,797
Disposals
(35,730)
(1,726)
(37,456)
At 31 December 2023
49,885
29,244
79,129
Depreciation and impairment
At 1 January 2023
54,394
23,768
78,162
Depreciation charged in the year
5,717
3,657
9,374
Eliminated in respect of disposals
(35,730)
(1,726)
(37,456)
At 31 December 2023
24,381
25,699
50,080
Carrying amount
At 31 December 2023
25,504
3,545
29,049
At 31 December 2022
2,614
4,012
6,626
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
413,010
419,496
Amounts owed by group undertakings
935,157
738,768
Other debtors
30,468
33,295
1,378,635
1,191,559

Included in the above is a loan of £840,360 (2022 - £732,674) to the parent company Bauwerk Parkett AG. This loan bears interest at 2.5%, is repayable on demand, and is unsecured.

 

6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
28,817
10,919
Amounts owed to group undertakings
1,288
6,225
Taxation and social security
124,068
124,070
Other creditors
67,662
82,978
221,835
224,192
BAUWERK GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Creditors: amounts falling due within one year
(Continued)
- 5 -

 

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statementstrue, 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:
Timothy Neale
Statutory Auditor:
Kirk Rice LLP
Date of audit report:
23 February 2024
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
159,469
115,258
9
Parent company

The ultimate parent company is Bauwerk Parkett AG and its registered office is:

 

CH-9430 St Margrethen
Switzerland

10
Prior period adjustment
A reclassification of expenditure in the prior year was made to give a better representation of the company's gross and operating profit margins. Costs of £50,900 were transferred to administrative expenses from cost of sales, representing group recharges for IT and telecommunications services. This did not impact the operating profit for the year, nor any transfer pricing arrangement.
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