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Company registration number: 00198501







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2022


REINHART & CO LIMITED






































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REINHART & CO LIMITED
 


 
COMPANY INFORMATION


Directors
Thomas Glaus 
Mark Jonathan Hipshon 
Adrian Caspar Reinhart 
Jurg Reinhart 




Company secretary
Thomas Glaus



Registered number
00198501



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

Surrey

TW17 4BP




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


REINHART & CO LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 4


 


REINHART & CO LIMITED
REGISTERED NUMBER:00198501



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
As restated - 2021
Note
$
$

  

Current assets
  

Stocks
 4 
641,450
-

Debtors: amounts falling due within one year
 5 
162,173
429,842

Cash at bank and in hand
  
272,797
-

  
1,076,420
429,842

Creditors: amounts falling due within one year
 6 
(752,626)
(4,655)

Net current assets
  
 
 
323,794
 
 
425,187

Total assets less current liabilities
  
323,794
425,187

  

Net assets
  
323,794
425,187


Capital and reserves
  

Called up share capital 
  
158
158

Profit and loss account
  
323,636
425,029

  
323,794
425,187


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Thomas Glaus
Director

Date: 31 July 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 


REINHART & CO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Reinhart & Co Limited is a private company, limited by shares and incorporated in England. The address of the registered office is disclosed on the company information page. As the company did not trade throughout the year, there is no principal place of business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional currency is GBP. This differs from the presentational currency which is USD. The year end exchange rate used in the accounts was $1.20704:£1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised when the risk and rewards of products are transferred to the buyer upon delivery of the goods to the buyer.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 2

 


REINHART & CO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans
to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees during the year was 1 (2021 - 0).


4.


Stocks

2022
2021
$
$

Stock in transit
503,950
-

Agricultural products
137,500
-

641,450
-



5.


Debtors

2022
As restated - 2021
$
$


Trade debtors
139,530
-

Amounts owed by group undertakings
-
429,842

Prepayments and accrued income
22,643
-

162,173
429,842


Amounts owed to group undertakings of $9,136 were reclassified from Amounts owed to group undertakings to Amounts owed by group undertakings in prior year as these amounts belong to same group company.

Page 3

 


REINHART & CO LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

2022
As restated - 2021
$
$

Trade creditors
529,621
-

Amounts owed to group undertakings
209,979
-

Other taxation and social security
2,859
-

Accruals and deferred income
10,167
4,655

752,626
4,655


Amounts owed to group undertakings of $9,136 were reclassified from Amounts owed to group undertakings to Amounts owed by group undertakings in prior year as these amounts belong to same group company.


7.


Commitments under operating leases

At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
$
$


Not later than 1 year
7,886
-

7,886
-


8.


Parent Company

Paul Reinhart AG, a company incorporated in Switzerland, is the parent company of the smallest group for which consolidated financial statements are drawn up. Their registered office is Technikumstrasse 82, 8400 Winterthur, Switzerland. 


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 31 July 2024 by Sophie Said FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 4