Silverfin false false 30/12/2023 31/12/2022 30/12/2023 Dr GERHARD FRANZ XAVER PRÖBL 01/01/2019 18 August 2024 The principal activity of the Company during the financial year was design and prototyping services. 06873942 2023-12-30 06873942 bus:Director1 2023-12-30 06873942 2022-12-30 06873942 core:CurrentFinancialInstruments 2023-12-30 06873942 core:CurrentFinancialInstruments 2022-12-30 06873942 core:ShareCapital 2023-12-30 06873942 core:ShareCapital 2022-12-30 06873942 core:RetainedEarningsAccumulatedLosses 2023-12-30 06873942 core:RetainedEarningsAccumulatedLosses 2022-12-30 06873942 core:PlantMachinery 2022-12-30 06873942 core:OfficeEquipment 2022-12-30 06873942 core:PlantMachinery 2023-12-30 06873942 core:OfficeEquipment 2023-12-30 06873942 2022-12-31 2023-12-30 06873942 bus:FilletedAccounts 2022-12-31 2023-12-30 06873942 bus:SmallEntities 2022-12-31 2023-12-30 06873942 bus:AuditExemptWithAccountantsReport 2022-12-31 2023-12-30 06873942 bus:PrivateLimitedCompanyLtd 2022-12-31 2023-12-30 06873942 bus:Director1 2022-12-31 2023-12-30 06873942 core:PlantMachinery 2022-12-31 2023-12-30 06873942 core:OfficeEquipment 2022-12-31 2023-12-30 06873942 2021-12-31 2022-12-30 iso4217:GBP xbrli:pure

Company No: 06873942 (England and Wales)

SCHNEIDER PROTOTYPING (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 30 December 2023
Pages for filing with the registrar

SCHNEIDER PROTOTYPING (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 30 December 2023

Contents

SCHNEIDER PROTOTYPING (UK) LIMITED

BALANCE SHEET

As at 30 December 2023
SCHNEIDER PROTOTYPING (UK) LIMITED

BALANCE SHEET (continued)

As at 30 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 6,069 7,827
6,069 7,827
Current assets
Stocks 4 2,500 4,509
Debtors 5 213,405 231,914
Cash at bank and in hand 117,989 182,187
333,894 418,610
Creditors: amounts falling due within one year 6 ( 652,551) ( 861,836)
Net current liabilities (318,657) (443,226)
Total assets less current liabilities (312,588) (435,399)
Provision for liabilities ( 661) ( 1,111)
Net liabilities ( 313,249) ( 436,510)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 313,250 ) ( 436,511 )
Total shareholder's deficit ( 313,249) ( 436,510)

For the financial year ending 30 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of SCHNEIDER PROTOTYPING (UK) LIMITED (registered number: 06873942) were approved and authorised for issue by the Director on 18 August 2024. They were signed on its behalf by:

Dr GERHARD FRANZ XAVER PRÖBL
Director
SCHNEIDER PROTOTYPING (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 December 2023
SCHNEIDER PROTOTYPING (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SCHNEIDER PROTOTYPING (UK) LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 23 Woolsbridge Industrial Park, Oakfield Road, Wimborne, BH21 6FE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 5

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 31 December 2022 101,943 19,633 121,576
Additions 331 524 855
Disposals ( 628) ( 2,132) ( 2,760)
At 30 December 2023 101,646 18,025 119,671
Accumulated depreciation
At 31 December 2022 96,294 17,455 113,749
Charge for the financial year 1,436 666 2,102
Disposals ( 628) ( 1,621) ( 2,249)
At 30 December 2023 97,102 16,500 113,602
Net book value
At 30 December 2023 4,544 1,525 6,069
At 30 December 2022 5,649 2,178 7,827

4. Stocks

2023 2022
£ £
Stocks 2,500 4,509

5. Debtors

2023 2022
£ £
Trade debtors 181,105 199,600
Amounts owed by Group undertakings 500 500
Other debtors 31,800 31,814
213,405 231,914

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 481,196 685,926
Amounts owed to Group undertakings 85,431 86,188
Other taxation and social security 18,854 23,436
Other creditors 67,070 66,286
652,551 861,836

7. Ultimate controlling party

Parent Company:

Schneider International Holding Gmbh
Idsteiner Straße 78, 65232 Taunusstein, Deutschland