Company registration number 02506662 (England and Wales)
HETTICH LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HETTICH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HETTICH LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
96,874
91,967
Creditors: amounts falling due within one year
5
(1,298)
(1,925)
Net current assets
95,576
90,042
Capital and reserves
Called up share capital
6
6,000
6,000
Profit and loss reserves
89,576
84,042
Total equity
95,576
90,042
The notes on pages 2 to 4 form part of these financial statements.
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 8 March 2024 and are signed on its behalf by:
C L J M Courcel
Director
Company Registration No. 02506662
HETTICH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Hettich Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 200, Metroplex Business Park, Broadway, Salford, M50 2UE.
The Company is the general partner of Hettich UK Limited Partnership and it has no other trading activity.
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 £.
These financial statements present information about the Company only. The Company is a general partner of Hettich UK Limited Partnership, but is not deemed to exercise control over this entity and therefore is not consolidated in accordance with the requirements of FRS102.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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.
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.
Having assessed the nature and form of the ownership structure of Hettich Limited and Hettich UK Limited Partnership, the directors do not consider Hettich Limited to exercise control for the purposes of FRS 102 over Hettich UK Limited Partnership. As a consequence of this judgement, management consider it inappropriate to consolidate the results of Hettich UK Limited Partnership within Hettich Limited.
HETTICH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
3
Employees
The Company has no employees other than the directors, who did not receive any remuneration (2022: £Nil).
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
96,874
91,967
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,298
1,925
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
6,000
6,000
6,000
6,000
There is a single class of ordinary shares. There are no restrictions on dividends and the repayment of capital.
7
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:
Alexander Kelly
Statutory Auditor:
MHA Moore and Smalley
8
Capital commitments
The directors have confirmed that there were no capital commitments which should be disclosed at 31 December 2023 or 31 December 2022.
9
Financial commitments, guarantees and contingent liabilities
The directors have confirmed that there were no contingent liabilities which should be disclosed at 31 December 2023 or 31 December 2022.
HETTICH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
10
Related party transactions
Transactions with related parties
During the year the Company received income of £7,032 (2022: £14,167) from Hettich UK Limited Partnership. At the year end the amount owed by Hettich UK Limited Partnership was £96,874 (2022: £91,967).
11
Parent company
The Company's parent organisation is Anton Hettich Auslandsbeteilligungs - Verwaltungs GmbH, incorporated in Germany. The ultimate parent organisations are Dr Erwin Hettich GmbH & Co and Anton Hettich GmbH & Co, both of which are resident in Germany. The results of the Company are included in the consolidated accounts of the above mentioned partnership. The consolidated accounts are not available to the public.