REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
C. GERHARDT UK LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
C. GERHARDT UK LIMITED |
C. GERHARDT UK LIMITED (REGISTERED NUMBER: 02144566) |
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 |
C. GERHARDT UK LIMITED |
Company Information |
for the year ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Claydons Barns |
11 Towcester Road |
Whittlebury |
Northamptonshire |
NN12 8XU |
BANKERS: |
1 Town Hall Buildings |
Bridge Street |
Banbury |
Oxfordshire |
0X16 5JS |
SOLICITORS: |
Midland House |
West Way |
Botley |
Oxford |
OX2 0PH |
C. GERHARDT UK LIMITED (REGISTERED NUMBER: 02144566) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the director and authorised for issue on |
C. GERHARDT UK LIMITED (REGISTERED NUMBER: 02144566) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
C. Gerhardt UK Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related third parties and investments in non-puttable ordinary shares. |
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 taxation |
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. |
C. GERHARDT UK LIMITED (REGISTERED NUMBER: 02144566) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Included in cost of land and buildings is freehold land of £ 18,500 (2022 - £ 18,500 ) which is not depreciated. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
C. GERHARDT UK LIMITED (REGISTERED NUMBER: 02144566) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | OTHER FINANCIAL COMMITMENTS |
At 31 December 2023 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £29,386 (2022 - £24,408). |
9. | RELATED PARTY DISCLOSURES |
The company is a wholly owned subsidiary of C. Gerhardt GmbH & Co. KG, 53639 Königswinter, Cäsariusstrasse 97, Germany. |
The company traded with its German parent throughout the year, all trade having been conducted on normal commercial terms. During the year, goods totalling £282,190 were purchased from and goods totalling £1,677 were sold to its German parent.(2022 - £243,000 and Nil respectively). |
Mr Jan Macke, Director, has a 50% interest in C. Gerhardt GmbH & Co. KG, (2022 - 50%). |
The Financial Statements of C. Gerhardt UK Limited are not consolidated in the Financial Statements of its German Parent. |
During the year the company advanced the sum of £200,000 to its German Parent under the terms of a Loan Agreement dated 15 March 2023, Interest is payable at the rate of 3% per annum. The duration of the Loan is indefinite but the Lender can call in the loan by giving three months notice on August 31st or February 28th in any year. The loan was to be applied exclusively for the purposes of research and development of new products, |
10. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |