3 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 5058747 2022-07-01 2023-06-30 5058747 2023-06-30 5058747 2022-06-30 5058747 2021-07-01 2022-06-30 5058747 2022-06-30 5058747 bus:Director1 2022-07-01 2023-06-30 5058747 core:WithinOneYear 2023-06-30 5058747 core:WithinOneYear 2022-06-30 5058747 core:ShareCapital 2023-06-30 5058747 core:ShareCapital 2022-06-30 5058747 core:RetainedEarningsAccumulatedLosses 2023-06-30 5058747 core:RetainedEarningsAccumulatedLosses 2022-06-30 5058747 core:BetweenOneFiveYears 2023-06-30 5058747 bus:SmallEntities 2022-07-01 2023-06-30 5058747 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 5058747 bus:FullAccounts 2022-07-01 2023-06-30 5058747 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 5058747 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 5058747
Dr Schutz UK Limited
Filleted Unaudited Financial Statements
30 June 2023
Dr Schutz UK Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
82
244
Current assets
Stocks
39,861
39,632
Debtors
6
70,328
38,410
Cash at bank and in hand
48,116
31,061
--------
--------
158,305
109,103
Creditors: amounts falling due within one year
7
142,851
76,448
--------
--------
Net current assets
15,454
32,655
-------
-------
Total assets less current liabilities
15,536
32,899
-------
-------
Net assets
15,536
32,899
-------
-------
Capital and reserves
Called up share capital
200
200
Profit and loss account
15,336
32,699
-------
-------
Shareholders funds
15,536
32,899
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 October 2023 , and are signed on behalf of the board by:
Mr S P Grimwood
Director
Company registration number: 5058747
Dr Schutz UK Limited
Notes to the Financial Statements
Year ended 30th June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
(d) Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
(g) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(h) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1st July 2022 and 30th June 2023
1,377
1,377
------
------
Depreciation
At 1st July 2022
1,133
1,133
Charge for the year
162
162
------
------
At 30th June 2023
1,295
1,295
------
------
Carrying amount
At 30th June 2023
82
82
------
------
At 30th June 2022
244
244
------
------
6. Debtors
2023
2022
£
£
Trade debtors
61,027
35,147
Other debtors
9,301
3,263
-------
-------
70,328
38,410
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
14,221
6,716
Amounts owed to holding company
112,598
53,278
Social security and other taxes
4,580
3,856
Other creditors
11,452
12,598
--------
-------
142,851
76,448
--------
-------
Amounts owed to holding company includes a loan of €35,000. The loan is unsecured and carries interest at 3.75% over the bank base interest rate of the United Kingdom.
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
23,442
2,690
Later than 1 year and not later than 5 years
36,410
-------
------
59,852
2,690
-------
------
9. Controlling party
The company's ultimate holding company is Dr Schutz GmbH, a company incorporated in Germany.