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REGISTERED NUMBER: 03143186 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

WEDI SYSTEMS (UK) LIMITED

WEDI SYSTEMS (UK) LIMITED (Registered number: 03143186)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WEDI SYSTEMS (UK) LIMITED

Company Information
for the Year Ended 31 December 2023







Directors: Mr F D Rechlin
Mr S J Neild





Registered office: Unit 4 Mercury Park
Mercury Park Way
Urmston
Manchester
M41 7LY





Registered number: 03143186 (England and Wales)





Auditors: Allen Mills Howard & Co (Statutory Auditors)
Chartered Certified Accountants
Library Chambers
48 Union Street
Hyde
Cheshire
SK14 1ND

WEDI SYSTEMS (UK) LIMITED (Registered number: 03143186)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 5,628 17,950

Current assets
Stocks 348,960 410,166
Debtors 5 516,120 415,250
Cash at bank and in hand 1,012,556 1,084,903
1,877,636 1,910,319
Creditors
Amounts falling due within one year 6 779,465 567,283
Net current assets 1,098,171 1,343,036
Total assets less current liabilities 1,103,799 1,360,986

Provisions for liabilities 610 2,672
Net assets 1,103,189 1,358,314

Capital and reserves
Called up share capital 7 2 2
Retained earnings 1,103,187 1,358,312
Shareholders' funds 1,103,189 1,358,314

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 23 February 2024 and were signed on its behalf by:





Mr S J Neild - Director


WEDI SYSTEMS (UK) LIMITED (Registered number: 03143186)

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

1. Statutory information

WEDI SYSTEMS (UK) 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.

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

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.
Fixtures, fittings & equipment - 25% on cost, 20% on cost and 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items, Cost is calculated on a weighted average basis.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

WEDI SYSTEMS (UK) LIMITED (Registered number: 03143186)

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

2. Accounting policies - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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.

3. Employees and directors

The average number of employees during the year was 11 (2022 - 11 ) .

4. Tangible fixed assets
Fixtures,
fittings
& equipment
£   
Cost
At 1 January 2023 137,254
Disposals (17,047 )
At 31 December 2023 120,207
Depreciation
At 1 January 2023 119,304
Charge for year 12,019
Eliminated on disposal (16,744 )
At 31 December 2023 114,579
Net book value
At 31 December 2023 5,628
At 31 December 2022 17,950

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 463,824 377,080
Other debtors 52,296 38,170
516,120 415,250

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 422,544 248,010
Taxation and social security 184,608 164,483
Other creditors 172,313 154,790
779,465 567,283

WEDI SYSTEMS (UK) LIMITED (Registered number: 03143186)

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

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

8. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Mr David Andrew Savidge (Senior Statutory Auditor)
for and on behalf of Allen Mills Howard & Co (Statutory Auditors)

9. Ultimate controlling party

The immediate parent company is WEDI GmbH (company registration number HRB 3782), a company incorporated in the Germany.

The immediate parent company of WEDI GmbH is ARDEX Group GmbH a company registered in Germany, with the results being consolidated into ARDEX Group GmbH, which is the smallest and largest company to prepare consolidated financial statements. The financial statements of ARDEX Group GmbH can be obtained at Friedrich-Ebert-Strasse 45 Witten, 58453 Germany the registered office.

The ultimate holding company is ARDEX Group GmbH (company registration number HRB 8187), incorporated in Germany