Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-315Manufacture and sale of motors and motor parts2023-01-015falsetruetrue 04073573 2023-01-01 2023-12-31 04073573 2022-01-01 2022-12-31 04073573 2023-12-31 04073573 2022-12-31 04073573 2022-01-01 04073573 c:CompanySecretary1 2023-01-01 2023-12-31 04073573 c:Director1 2023-01-01 2023-12-31 04073573 c:RegisteredOffice 2023-01-01 2023-12-31 04073573 c:Agent1 2023-01-01 2023-12-31 04073573 d:MotorVehicles 2023-01-01 2023-12-31 04073573 d:MotorVehicles 2023-12-31 04073573 d:MotorVehicles 2022-12-31 04073573 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04073573 d:FurnitureFittings 2023-01-01 2023-12-31 04073573 d:FurnitureFittings 2023-12-31 04073573 d:FurnitureFittings 2022-12-31 04073573 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04073573 d:OfficeEquipment 2023-01-01 2023-12-31 04073573 d:OfficeEquipment 2023-12-31 04073573 d:OfficeEquipment 2022-12-31 04073573 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04073573 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04073573 d:CurrentFinancialInstruments 2023-12-31 04073573 d:CurrentFinancialInstruments 2022-12-31 04073573 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04073573 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04073573 d:ShareCapital 2023-12-31 04073573 d:ShareCapital 2022-12-31 04073573 d:RetainedEarningsAccumulatedLosses 2023-12-31 04073573 d:RetainedEarningsAccumulatedLosses 2022-12-31 04073573 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 04073573 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 04073573 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04073573 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04073573 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04073573 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 04073573 c:FRS102 2023-01-01 2023-12-31 04073573 c:Audited 2023-01-01 2023-12-31 04073573 c:FullAccounts 2023-01-01 2023-12-31 04073573 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04073573 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04073573 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04073573









STOBER DRIVES LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
STOBER DRIVES LIMITED
 
 
COMPANY INFORMATION


Director
Mr P Stober 




Company secretary
Mr G Schiemann



Registered number
04073573



Registered office
Centrix House
Keys Park Road

Hednesford

Cannock

Staffordshire

WS12 2HA




Trading Address
Centrix House
Upper Keys Business Village

Keys Park Road

Cannock

Staffordshire

WS12 2HA






Independent auditors
Ashon Limited
Chartered Accountants & & Statutory Auditors

125 Knoll Crescent

Northwood

Middlesex

HA6 1HX




Bankers
HSBC UK Bank Plc
36 Fore Street

Hertford

Hertfordshire

SG14 1BS





 
STOBER DRIVES LIMITED
REGISTERED NUMBER: 04073573

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,243
1,992

  
4,243
1,992

Current assets
  

Stocks
  
151,265
83,050

Debtors: amounts falling due within one year
 6 
1,042,092
920,420

Cash at bank and in hand
 7 
54,138
150,682

  
1,247,495
1,154,152

Creditors: amounts falling due within one year
 8 
(160,828)
(279,969)

Net current assets
  
 
 
1,086,667
 
 
874,183

Total assets less current liabilities
  
1,090,910
876,175

  

Net assets
  
1,090,910
876,175

Page 1

 
STOBER DRIVES LIMITED
REGISTERED NUMBER: 04073573
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
1,000,000
1,000,000

Profit and loss account
  
90,910
(123,825)

  
1,090,910
876,175


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 February 2024.




................................................
Mr P Stober
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number:                04073573
Registered office address:     Centrix House
                                           Keys Park Road
                                           Hednesford
                                           Cannock
                                           Staffordshire
                                           England WS12 2HA

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Straight line basis
Fixtures and fittings
-
20%
Straight line basis
Office equipment
-
20%
Straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 6

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2023
2022
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
5,000
4,750

5,000
4,750

Fees payable to the Company's auditor and its associates in respect of:

Audit-related assurance services
1,650
2,100

Taxation compliance services
300
1,000

All other services
1,000
1,500

2,950
4,600









4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 7

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
13,483
9,510
1,198
24,191


Additions
-
-
4,002
4,002



At 31 December 2023

13,483
9,510
5,200
28,193



Depreciation


At 1 January 2023
12,893
9,094
212
22,199


Charge for the year on owned assets
590
213
948
1,751



At 31 December 2023

13,483
9,307
1,160
23,950



Net book value



At 31 December 2023
-
203
4,040
4,243



At 31 December 2022
590
416
986
1,992


6.


Debtors





2023
2022
£
£

Due within one year

Trade debtors
382,639
233,852

Amounts owed by group undertakings
650,000
650,000

Other debtors
2,623
12,846

Prepayments and accrued income
5,223
-

Deferred taxation
1,607
23,722

1,042,092
920,420


Page 8

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
54,138
150,682

54,138
150,682



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
20,884
65,523

Amounts owed to group undertakings
5,658
160,348

Corporation tax
36,565
-

Other taxation and social security
10,087
7,306

Other creditors
13,547
-

Accruals and deferred income
74,087
46,792

160,828
279,969



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
54,138
150,682



Page 9

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
23,722
25,581


Charged to profit or loss
(22,115)
(1,859)



At end of year
1,607
23,722

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
1,607
2,094

Tax losses carried forward
-
21,628

1,607
23,722


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £15,800 (2022: £9,811).
Contributions totalling £1,021 (2022: £Nil) were payable to the fund at the reporting date and are included in creditors.


12.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Stardard 102
"The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related
party transactions with wholly owned subsidiaries within the group.


13.


Controlling party

The company's immediate and ultimate parent undertaking is Stoeber Antriebstechnik GmbH+Co. KG, a
company incorporated in Germany. Copies of its group accounts can be obtained from Stober
Antriebstechnik GmbH+Co. KG, Kieselbronner Str. 12, D-75177 Pforzheim, Germany.

Page 10

 
STOBER DRIVES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 29 February 2024 by Mr Ashvinkumar Shonchhatra FCA Mr Ashvinkumar Shonchhatra FCA (Senior statutory auditor) on behalf of Ashon Limited.

 
Page 11