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REGISTERED NUMBER: 02120680 (England and Wales)














Financial Statements

for the Year Ended 31 December 2023

for

Deister Electronic (UK) Limited

Deister Electronic (UK) Limited (Registered number: 02120680)

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 to 7


Deister Electronic (UK) Limited

Company Information
for the Year Ended 31 December 2023







Directors: A M Stobbe
N Stobbe





Secretary: D R Harrold





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Stapleton Way
Enterprise Park
Spalding
Lincolnshire
PE11 3YQ





Registered number: 02120680 (England and Wales)





Auditors: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Deister Electronic (UK) Limited (Registered number: 02120680)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 142,479 87,758
Investments 6 - -
142,479 87,758

Current assets
Stocks 1,046,958 872,062
Debtors 7 713,479 394,787
Cash in hand 778,648 483,490
2,539,085 1,750,339
Creditors
Amounts falling due within one year 8 1,097,769 594,597
Net current assets 1,441,316 1,155,742
Total assets less current liabilities 1,583,795 1,243,500

Provisions for liabilities 34,520 15,655
Net assets 1,549,275 1,227,845

Capital and reserves
Called up share capital 10 61,000 61,000
Retained earnings 1,488,275 1,166,845
Shareholders' funds 1,549,275 1,227,845

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 8 April 2024 and were signed on its behalf by:




A M Stobbe - Director



N Stobbe - Director


Deister Electronic (UK) Limited (Registered number: 02120680)

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


1. Statutory information

Deister Electronic (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 (£).


The company's trading address is Stapleton Way, Pinchbeck, Spalding, Lincolnshire, PE11 3YQ.

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually of 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.

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-25/33% on a reducing balance
Fixtures and fittings-25% on a reducing balance
Motor vehicles-25% on a reducing balance
Computer equipment-20% on a straight line basis

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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.

Deister Electronic (UK) Limited (Registered number: 02120680)

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


3. Accounting policies - continued

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.

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 tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
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.

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.

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
Lease payments are recognised as an expense over the lease term on straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in the profit or loss.

Deister Electronic (UK) Limited (Registered number: 02120680)

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


3. Accounting policies - continued

Impairment of fixed assets
The carrying values of tangible fixed assets are reviewed for impairment annually by the directors without revaluing the assets. Where the aggregate value of those assets is less than the aggregate that they are stated in the company's accounts, a provision will be made for any material impairment.

4. Employees and directors

The average number of employees during the year was 15 (2022 - 13 ) .

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2023 188,644 13,733 - 14,750 217,127
Additions 66,843 19,756 915 - 87,514
At 31 December 2023 255,487 33,489 915 14,750 304,641
Depreciation
At 1 January 2023 112,390 5,179 - 11,800 129,369
Charge for year 26,341 3,273 229 2,950 32,793
At 31 December 2023 138,731 8,452 229 14,750 162,162
Net book value
At 31 December 2023 116,756 25,037 686 - 142,479
At 31 December 2022 76,254 8,554 - 2,950 87,758

6. Fixed asset investments
Other
investments
£   
Cost
At 1 January 2023
and 31 December 2023 70
Provisions
At 1 January 2023
and 31 December 2023 70
Net book value
At 31 December 2023 -
At 31 December 2022 -

Deister Electronic (UK) Limited (Registered number: 02120680)

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


7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 620,375 317,445
Prepayments 93,104 77,342
713,479 394,787

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 105,262 87,343
Amounts owed to group undertakings 206,548 126,002
Corporation tax 209,045 35,255
Social security and other taxes 48,872 43,885
VAT 283,683 91,410
Accrued expenses 244,359 210,702
1,097,769 594,597

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 122,776 121,653
Between one and five years 8,593 14,024
131,369 135,677

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
61,000 Ordinary Shares £1 61,000 61,000

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

The Report of the auditors was unqualified.

Heather Bright (FCA) (Senior Statutory Auditor)
for and on behalf of Moore Thompson

Deister Electronic (UK) Limited (Registered number: 02120680)

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


12. Controlling party

Deister Electronic (UK) Limited is a 100% subsidiary of Deister International GmbH, a company registered in Germany. Deister International GmbH was formerly known as M.S.T. Electronik B.V. and registered in The Netherlands.

Deister International GmbH is a 100% subsidiary of Deister Holding A.G., a company based in Germany.

Both Deister International GmbH and Deister Holding A.G. are based at Hermann-Bahlsen Strasse 11, 30890 Barsinghauseu, Germany.

The ultimate controlling party is A Stobbe.