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REGISTERED NUMBER: 02815561 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Lutze Limited

Lutze Limited (Registered number: 02815561)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lutze Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: U Lutze
R Piesiur





SECRETARY: Mrs L V Hall





REGISTERED OFFICE: 3 Sandy Hill Park
Amington
Tamworth
Staffordshire
B77 4DU





REGISTERED NUMBER: 02815561 (England and Wales)





AUDITORS: Barnett Ravenscroft Limited, Statutory Auditor
13 Portland Road
Edgbaston
Birmingham
West Midlands
B16 9HN

Lutze Limited (Registered number: 02815561)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,381 46,078

CURRENT ASSETS
Stocks 1,718,495 1,222,284
Debtors 5 1,332,956 1,513,273
Cash at bank 265,437 343,064
3,316,888 3,078,621
CREDITORS
Amounts falling due within one year 6 1,492,539 1,600,776
NET CURRENT ASSETS 1,824,349 1,477,845
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,875,730

1,523,923

PROVISIONS FOR LIABILITIES 8,100 4,400
NET ASSETS 1,867,630 1,519,523

CAPITAL AND RESERVES
Called up share capital 7 490,801 490,801
Retained earnings 1,376,829 1,028,722
SHAREHOLDERS' FUNDS 1,867,630 1,519,523

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:





R Piesiur - Director


Lutze Limited (Registered number: 02815561)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Lutze Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable accounting standards.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when significant risks and rewards of ownership of the goods have been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 50% on cost and 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Lutze Limited (Registered number: 02815561)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 19 ) .

Lutze Limited (Registered number: 02815561)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 284,152
Additions 20,825
Disposals (92,911 )
At 31 December 2023 212,066
DEPRECIATION
At 1 January 2023 238,074
Charge for year 15,522
Eliminated on disposal (92,911 )
At 31 December 2023 160,685
NET BOOK VALUE
At 31 December 2023 51,381
At 31 December 2022 46,078

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,275,337 1,442,778
Amounts owed by group undertakings 35 8,056
Other debtors 57,584 62,439
1,332,956 1,513,273

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 281,027 383,295
Amounts owed to group undertakings 850,657 832,624
Taxation and social security 281,477 301,905
Other creditors 79,378 82,952
1,492,539 1,600,776

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
490,801 Ordinary £1 490,801 490,801

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Gold (Senior Statutory Auditor)
for and on behalf of Barnett Ravenscroft Limited, Statutory Auditor

Lutze Limited (Registered number: 02815561)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £224,102 (2022 - £259,171), which predominantly relates to property rental lease obligations.

As at 31 December 2023, the company had outstanding pension commitments of £18,921 (2022 - £26,222).

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 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.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Luetze International GmbH, a company incorporated in Germany.

The ultimate controlling party is U Lutze.

Lutze International GmbH address is Postfach 12 24, Bruckwiesenstrasse 17-19, D - 71384 Weinstadt, Germany.