Auma Actuators Limited 01012852 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of the distribution of valve actuators manufactured by its ultimate parent company in Germany Digita Accounts Production Advanced 6.30.9574.0 true false true 01012852 2023-01-01 2023-12-31 01012852 2023-12-31 01012852 bus:OrdinaryShareClass1 2023-12-31 01012852 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 01012852 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 01012852 core:CurrentFinancialInstruments 2023-12-31 01012852 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01012852 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 01012852 core:FurnitureFittings 2023-12-31 01012852 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 01012852 core:MotorVehicles 2023-12-31 01012852 core:OfficeEquipment 2023-12-31 01012852 core:PlantMachinery 2023-12-31 01012852 bus:SmallEntities 2023-01-01 2023-12-31 01012852 bus:Audited 2023-01-01 2023-12-31 01012852 bus:FilletedAccounts 2023-01-01 2023-12-31 01012852 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01012852 bus:RegisteredOffice 2023-01-01 2023-12-31 01012852 bus:Director1 2023-01-01 2023-12-31 01012852 bus:Director3 2023-01-01 2023-12-31 01012852 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01012852 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01012852 core:RetainedEarningsAccumulatedLosses core:LandBuildings 2023-01-01 2023-12-31 01012852 core:RevaluationReserve core:LandBuildings 2023-01-01 2023-12-31 01012852 core:Buildings 2023-01-01 2023-12-31 01012852 core:FurnitureFittings 2023-01-01 2023-12-31 01012852 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01012852 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01012852 core:MotorVehicles 2023-01-01 2023-12-31 01012852 core:OfficeEquipment 2023-01-01 2023-12-31 01012852 core:PlantMachinery 2023-01-01 2023-12-31 01012852 1 2023-01-01 2023-12-31 01012852 countries:AllCountries 2023-01-01 2023-12-31 01012852 countries:Germany 2023-01-01 2023-12-31 01012852 2022-12-31 01012852 core:FurnitureFittings 2022-12-31 01012852 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 01012852 core:MotorVehicles 2022-12-31 01012852 core:OfficeEquipment 2022-12-31 01012852 core:PlantMachinery 2022-12-31 01012852 2022-01-01 2022-12-31 01012852 2022-12-31 01012852 bus:OrdinaryShareClass1 2022-12-31 01012852 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 01012852 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 01012852 core:CurrentFinancialInstruments 2022-12-31 01012852 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01012852 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 01012852 core:FurnitureFittings 2022-12-31 01012852 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 01012852 core:MotorVehicles 2022-12-31 01012852 core:OfficeEquipment 2022-12-31 01012852 core:PlantMachinery 2022-12-31 01012852 core:RevaluationReserve core:LandBuildings 2022-01-01 2022-12-31 01012852 core:LandBuildings 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01012852

Auma Actuators Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Auma Actuators Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 12

 

Auma Actuators Limited

Company Information

Directors

P L Hopkins

F Dirnhofer

Registered office

Generation House
Yeo Bank 3
Kenn Road
Clevedon
North Somerset
BS21 6TH

Auditors

Roberts & Co (Bristol) Limited
Chartered Accountants & Statutory Auditors
24 High Street
Chipping Sodbury
Bristol
BS37 6AH

 

Auma Actuators Limited

(Registration number: 01012852)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,012,355

2,008,052

Investment property

5

-

340,000

 

2,012,355

2,348,052

Current assets

 

Stocks

6

1,478,956

1,535,043

Debtors

7

2,027,461

2,412,621

Cash at bank and in hand

 

1,692,750

1,348,796

 

5,199,167

5,296,460

Creditors: Amounts falling due within one year

8

(1,382,512)

(2,111,341)

Net current assets

 

3,816,655

3,185,119

Total assets less current liabilities

 

5,829,010

5,533,171

Creditors: Amounts falling due after more than one year

8

-

(256)

Provisions for liabilities

(165,836)

(150,071)

Net assets

 

5,663,174

5,382,844

Capital and reserves

 

Called up share capital

9

60,000

60,000

Revaluation reserve

-

136,103

Retained earnings

5,603,174

5,186,741

Shareholders' funds

 

5,663,174

5,382,844

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 March 2024 and signed on its behalf by:
 

.........................................
P L Hopkins
Director

 

Auma Actuators Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Generation House
Yeo Bank 3
Kenn Road
Clevedon
North Somerset
BS21 6TH
England

These financial statements were authorised for issue by the Board on 27 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 taking advantage of the disclosure exemptions in Section 1A - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Auma Actuators Limited

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

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 27 March 2024 was Peter Roberts, who signed for and on behalf of Roberts & Co (Bristol) Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of actuators and related products and the provision of associated support and maintenance services, in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Auma Actuators Limited

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

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Freehold property

2% straight line

Office furniture and equipment

20% reducing balance

Motor vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors based on readily available market information, including the use of professional valuers where required. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct material and service costs incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Auma Actuators Limited

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

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Rental income receivable under operating leases is charged to the profit and loss account on a straight line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Auma Actuators Limited

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

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2022 - 29).

 

Auma Actuators Limited

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

4

Tangible assets

Land and buildings
£

Office furniture and equipment
£

Plant and machinery
£

Computer equipment
£

Cost

At 1 January 2023

2,029,548

280,181

431,891

421,232

Additions

-

10,616

8,216

13,560

Disposals

-

-

-

-

At 31 December 2023

2,029,548

290,797

440,107

434,792

Depreciation

At 1 January 2023

484,814

211,411

380,498

357,723

Charge for the year

40,594

13,248

12,275

12,812

Eliminated on disposal

-

-

-

-

At 31 December 2023

525,408

224,659

392,773

370,535

Carrying amount

At 31 December 2023

1,504,140

66,138

47,334

64,257

At 31 December 2022

1,544,734

68,770

51,393

63,509

 

Auma Actuators Limited

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

4

Tangible assets (continued)

Motor vehicles
 £

Total
£

Cost

At 1 January 2023

389,244

3,552,096

Additions

160,655

193,047

Disposals

(76,386)

(76,386)

At 31 December 2023

473,513

3,668,757

Depreciation

At 1 January 2023

109,598

1,544,044

Charge for the year

80,354

159,283

Eliminated on disposal

(46,925)

(46,925)

At 31 December 2023

143,027

1,656,402

Carrying amount

At 31 December 2023

330,486

2,012,355

At 31 December 2022

279,646

2,008,052

Included within the net book value of land and buildings above is £1,504,140 (2022 - £1,544,734) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

At 1 January

340,000

Disposals

(340,000)

At 31 December

-

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

1,478,956

1,535,043

 

Auma Actuators Limited

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

7

Debtors

Current

2023
£

2022
£

Trade debtors

1,794,436

2,279,908

Prepayments

233,025

132,713

 

2,027,461

2,412,621

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

-

1,919

Trade creditors

 

37,760

102,778

Amounts owed to group undertakings

756,135

1,379,034

Taxation and social security

 

411,597

486,969

Accruals and deferred income

 

177,020

140,641

 

1,382,512

2,111,341

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

-

256

 

Auma Actuators Limited

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

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

60,000

60,000

60,000

60,000

       

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Retained earnings
£

Surplus/deficit on property, plant and equipment revaluation

(136,103)

136,103

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

30,000

30,000

 

Auma Actuators Limited

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

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

-

256

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

-

1,919

12

Parent and ultimate parent undertaking

The company's immediate parent is Auma Armaturenantrreibe GmbH, incorporated in Germany.

 The ultimate parent is Auma Riester GmbH & Co KG, incorporated in Germany.

 

The parent of the largest group in which these financial statements are consolidated is Auma Riester GmbH & Co KG, incorporated in Germany.

The address of Auma Riester GmbH & Co KG is:
Aumastrasse1
D-79379
Mullheim