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REGISTERED NUMBER: 04381120 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SCHUBERT UK LIMITED

SCHUBERT UK LIMITED (REGISTERED NUMBER: 04381120)






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


SCHUBERT UK LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTOR: M F Stepney





SECRETARY: P Gabriel





REGISTERED OFFICE: One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB





REGISTERED NUMBER: 04381120 (England and Wales)





AUDITORS: Dafferns LLP
Chartered Accountants
Statutory Auditor
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

SCHUBERT UK LIMITED (REGISTERED NUMBER: 04381120)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 729,290 734,675

CURRENT ASSETS
Debtors 6 3,558,277 3,064,351
Cash at bank and in hand 5,109,589 5,835,677
8,667,866 8,900,028
CREDITORS
Amounts falling due within one year 7 5,057,068 5,969,408
NET CURRENT ASSETS 3,610,798 2,930,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,340,088

3,665,295

PROVISIONS FOR LIABILITIES 23,000 12,000
NET ASSETS 4,317,088 3,653,295

CAPITAL AND RESERVES
Called up share capital 8 95,724 95,724
Retained earnings 9 4,221,364 3,557,571
SHAREHOLDERS' FUNDS 4,317,088 3,653,295

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2024 and were signed by:





M F Stepney - Director


SCHUBERT UK LIMITED (REGISTERED NUMBER: 04381120)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Schubert 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Machines:
Revenue from the sale of machines is recognised when the machine has been approved for delivery following full acceptance by the customer.

Spares:
Revenue from the sale of spares and parts is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, typically on dispatch of the goods.

Servicing and training:
Revenue from the rendering of services is recognised in the period in which services are provided

Commission
Commissions receivable represent sales secured in a designated area but facilitated by another group entity and is allocated to other operating income in the statement of comprehensive income

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

Long leasehold-2% on cost
Fixtures and fittings-20% straight line
Computer equipment-33.33% straight line

Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place.

SCHUBERT UK LIMITED (REGISTERED NUMBER: 04381120)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

Operating leases
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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 in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 14 ) .

SCHUBERT UK LIMITED (REGISTERED NUMBER: 04381120)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 829,102 51,554 60,321 940,977
Additions - 16,666 7,487 24,153
At 31 December 2023 829,102 68,220 67,808 965,130
DEPRECIATION
At 1 January 2023 113,865 51,430 41,007 206,302
Charge for year 16,581 2,239 10,718 29,538
At 31 December 2023 130,446 53,669 51,725 235,840
NET BOOK VALUE
At 31 December 2023 698,656 14,551 16,083 729,290
At 31 December 2022 715,237 124 19,314 734,675

The long leasehold property relates to a property purchased in 2015 over a 999 year lease.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,804,449 1,128,107
Other debtors 1,691,103 1,925,135
Prepayments 62,725 11,109
3,558,277 3,064,351

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 62,504 19,691
Tax 104,728 55,442
Social security and other taxes 568,011 634,055
Other creditors 2,554,317 2,291,023
Amounts due to group companies 1,661,664 2,900,864
Accrued expenses 105,844 68,333
5,057,068 5,969,408

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150,000 Ordinary €1 95,724 95,724

SCHUBERT UK LIMITED (REGISTERED NUMBER: 04381120)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. RESERVES
Retained
earnings
£   

At 1 January 2023 3,557,571
Profit for the year 663,793
At 31 December 2023 4,221,364

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

The Report of the Auditors was unqualified.

Lucy Hatton FCCA (Senior Statutory Auditor)
for and on behalf of Dafferns LLP

11. FINANCIAL COMMITMENTS

Total financial commitments and guarantees which are not included in the balance sheet amount to £215,538 (2022: £29,821).

12. ULTIMATE PARENT COMPANY

The Company is a wholly-owned subsidiary of Gerhard Schubert GmbH which is also its ultimate parent company.

The registered office and principal place of business of Gerhard Schubert GmbH is, Industriegebiet Sudost, Hofackerstrasse 7, 74564 Crailsheim, Germany, from which group accounts can be obtained.

13. RELATED PARTY DISCLOSURES

Transactions between the company and its holding company Gerhard Schubert GmbH have not been disclosed as the company is a wholly owned subsidiary of Gerhard Schubert GmbH and is included within the consolidated accounts of the group.