HOERBIGER UK LIMITED

Company Registration Number:
02072970 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

HOERBIGER UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

HOERBIGER UK LIMITED

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal activities of the company

Sale and distribution of compressor parts, compressor component repair and the overhaul, maintenance, upgrading and revamping of compressors and other rotating equipment.

Company policy on disabled employees

The company give full consideration to applications for employment of disabled persons where the requirements of the job can be adequately fulfilled by a handicapped person. Where existing employees become disabled, it it the company's policy, wherever practicable to provide continuing employment under normal terms and conditions and to provide training, career development and promotion to disabled employees wherever appropriate.



Directors

The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022

Richard Yates
Lars Westlund
Anne Howker


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
7 March 2024

And signed on behalf of the board by:
Name: Anne Howker
Status: Director

HOERBIGER UK LIMITED

Profit And Loss Account

for the Period Ended 31 December 2022

2022 2021


£

£
Turnover: 3,131,215 2,831,373
Cost of sales: ( 1,618,894 ) ( 1,875,326 )
Gross profit(or loss): 1,512,321 956,047
Administrative expenses: ( 1,840,514 ) ( 1,168,889 )
Other operating income: 498,668 300,217
Operating profit(or loss): 170,475 87,375
Interest receivable and similar income: 1,330,000
Interest payable and similar charges: ( 440,837 ) ( 398,005 )
Profit(or loss) before tax: 1,059,638 (310,630)
Tax: 32,510 52,993
Profit(or loss) for the financial year: 1,092,148 (257,637)

HOERBIGER UK LIMITED

Balance sheet

As at 31 December 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 138,422 135,687
Investments: 4 19,226,401 19,226,401
Total fixed assets: 19,364,823 19,362,088
Current assets
Stocks: 5 105,973 99,753
Debtors: 6 1,356,322 1,166,917
Cash at bank and in hand: 6,971 64
Total current assets: 1,469,266 1,266,734
Creditors: amounts falling due within one year: 7 ( 2,680,319 ) ( 2,067,200 )
Net current assets (liabilities): (1,211,053) (800,466)
Total assets less current liabilities: 18,153,770 18,561,622
Creditors: amounts falling due after more than one year: 8 ( 4,500,000 ) ( 6,000,000 )
Total net assets (liabilities): 13,653,770 12,561,622
Capital and reserves
Called up share capital: 4,600,000 4,600,000
Other reserves: 97,719 97,719
Profit and loss account: 8,956,051 7,863,903
Total Shareholders' funds: 13,653,770 12,561,622

The notes form part of these financial statements

HOERBIGER UK LIMITED

Balance sheet statements

For the year ending 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 7 March 2024
and signed on behalf of the board by:

Name: Anne Howker
Status: Director

The notes form part of these financial statements

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents amounts chargeable, excluding value added tax and trade discounts, in respect of the sale of goods and services to customers. Turnover from the sale of goods is recognised when the goods are physically dispatched to the customer. Turnover relating to service activity is recognised on completion of service work in line with HOERBIGER group accounting policy.

    Tangible fixed assets depreciation policy

    Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

    Intangible fixed assets amortisation policy

    Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

    Other accounting policies

    The details of those accounting policies can be find in the statutory accounts report, section 2.

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 16 15

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2022 95,969 1,488,387 1,584,356
Additions 31,726 31,726
Disposals
Revaluations 12,300 12,300 0
Transfers
At 31 December 2022 108,269 1,507,813 1,616,082
Depreciation
At 1 January 2022 39,236 1,409,433 1,448,669
Charge for year 6,788 22,203 28,991
On disposals
Other adjustments
At 31 December 2022 46,024 1,431,636 1,477,660
Net book value
At 31 December 2022 62,245 76,177 138,422
At 31 December 2021 56,733 78,954 135,687

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Fixed assets investments note

Investments in subsidiary companies £19,226,401, related to IEP Technologies Limited and Newson Gale Limited.Class of shares: ordinary, HOERBIGER UK holding 100%

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Stocks

2022 2021
£ £
Stocks 105,973 99,753
Total 105,973 99,753

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

6. Debtors

2022 2021
£ £
Trade debtors 1,083,734 943,365
Prepayments and accrued income 32,877 53,182
Other debtors 239,711 170,370
Total 1,356,322 1,166,917

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

7. Creditors: amounts falling due within one year note

2022 2021
£ £
Bank loans and overdrafts 1,500,000 1,500,130
Trade creditors 117,490 60,885
Taxation and social security 212,611 151,282
Accruals and deferred income 116,175 95,404
Other creditors 734,043 259,499
Total 2,680,319 2,067,200

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

8. Creditors: amounts falling due after more than one year note

2022 2021
£ £
Other creditors 4,500,000 6,000,000
Total 4,500,000 6,000,000

HOERBIGER UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

9. Financial Commitments

The company had future minimum lease payments due under non-cancellable operating leases.