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REGISTERED NUMBER: 03114289 (England and Wales)










Strategic Report, Report of the Directors and

Financial Statements

For The Year Ended 31 December 2023

for

Dohler (UK) Limited

Dohler (UK) Limited (Registered number: 03114289)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Dohler (UK) Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: S R H Fletcher
C T Melton
M Walsh





REGISTERED OFFICE: 1a Opal Court
Opal Drive Fox Milne
Milton Keynes
Buckinghamshire
MK15 0DF





REGISTERED NUMBER: 03114289 (England and Wales)





AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Dohler (UK) Limited (Registered number: 03114289)

Strategic Report
For The Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
In the opinion of the directors, the general performance and financial position of Doehler UK has been excellent, given the economic conditions that the business has faced.

2023 2022 2021 2020

Turnover £63.32M £58.32M £62.59M £15.60M
Gross Profit £6.95M £8.05M £6.09M £4.69M
Profit Before Tax £2.32M £2.78M £2.39M £1.23M

PRINCIPAL RISKS AND UNCERTAINTIES
Like all F&B businesses, during 2023 Dohler (UK) Ltd experienced considerable volatility within our global supply chain. It is the opinion that the business worked closely with customers to mitigate and manage these challenges. We have strengthened our existing customer relationships in conjunction with the development of a number of new business streams and are well placed to continue to deliver exceptional quality, service and value.

Dohler recognises the current external headwinds that customers and consumers are facing, and we continue to work closely together, to identify areas of opportunity, and to develop exciting propositions and alternatives to alleviate these pressures.

ON BEHALF OF THE BOARD:





C T Melton - Director


13 June 2024

Dohler (UK) Limited (Registered number: 03114289)

Report of the Directors
For The Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

S R H Fletcher
C T Melton
M Walsh

FINANCIAL INSTRUMENTS
The Company's activities expose it to a number of financial risks including cash flow risk, credit risk and liquidity risk. The use of financial derivatives is governed by the Company's policies approved by the board of directors. The Company does not use derivative financial instruments for speculative purposes.

Cash flow risk
The Company's activities expose it primarily to the financial risks of changes in foreign currency exchange rates. The Company manages its sales and supply side contracts regularly to limit exposure.

Credit risk
The Company's principal financial instruments comprise bank balances, bank overdrafts, group loans, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations.

The Company's credit risk is primarily attributable to trade debtors. These are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amount outstanding for both time and credit limits. The currency risk arising out of overseas sales invoiced in local currencies is not considered significant.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The Company has no significant concentration of credit risk.

Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the Company uses available group finance.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.


Dohler (UK) Limited (Registered number: 03114289)

Report of the Directors
For The Year Ended 31 December 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Kingscott Dix Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C T Melton - Director


13 June 2024

Report of the Independent Auditors to the Members of
Dohler (UK) Limited

Opinion
We have audited the financial statements of Dohler (UK) Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Dohler (UK) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident.

At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud.

Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud.

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors, and inspection of the Company's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit.

Report of the Independent Auditors to the Members of
Dohler (UK) Limited


The company is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including related companies, distributable profits and taxation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements.

The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety including employment laws, GDPR, COSHH, Food Safety Regulations and environmental laws and regulations recognising the nature of the company's activities. Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Directors and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen Baily (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

17 June 2024

Dohler (UK) Limited (Registered number: 03114289)

Income Statement
For The Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 63,319,480 58,315,554

Cost of sales 56,373,043 50,267,633
GROSS PROFIT 6,946,437 8,047,921

Administrative expenses 4,703,741 5,177,024
OPERATING PROFIT 5 2,242,696 2,870,897

Interest receivable and similar income 206,583 -
2,449,279 2,870,897

Interest payable and similar expenses 6 132,879 91,422
PROFIT BEFORE TAXATION 2,316,400 2,779,475

Tax on profit 7 312,464 279,154
PROFIT FOR THE FINANCIAL YEAR 2,003,936 2,500,321

Dohler (UK) Limited (Registered number: 03114289)

Other Comprehensive Income
For The Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

PROFIT FOR THE YEAR 2,003,936 2,500,321


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,003,936

2,500,321

Dohler (UK) Limited (Registered number: 03114289)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 338,839 324,595
Tangible assets 9 116,572 134,893
455,411 459,488

CURRENT ASSETS
Stocks 10 294,010 387,737
Debtors 11 16,954,072 20,254,157
Cash at bank and in hand 601,777 586,345
17,849,859 21,228,239
CREDITORS
Amounts falling due within one year 12 6,996,310 12,382,703
NET CURRENT ASSETS 10,853,549 8,845,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,308,960

9,305,024

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 16 11,308,860 9,304,924
SHAREHOLDERS' FUNDS 11,308,960 9,305,024

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2024 and were signed on its behalf by:





C T Melton - Director


Dohler (UK) Limited (Registered number: 03114289)

Statement of Changes in Equity
For The Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 6,804,603 6,804,703

Changes in equity
Total comprehensive income - 2,500,321 2,500,321
Balance at 31 December 2022 100 9,304,924 9,305,024

Changes in equity
Total comprehensive income - 2,003,936 2,003,936
Balance at 31 December 2023 100 11,308,860 11,308,960

Dohler (UK) Limited (Registered number: 03114289)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Dohler (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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned entities within the group.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Where the Company acts as principal when incurring product related taxes such as excise duties, which are then invoiced to customers, those invoiced amounts are included in turnover.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Dohler (UK) Limited (Registered number: 03114289)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Classification of financial liabilities
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.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.


Dohler (UK) Limited (Registered number: 03114289)

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

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods in the revision affects both current and future periods.

4. EMPLOYEES AND DIRECTORS
31.12.23 31.12.22
£    £   
Wages and salaries 3,187,696 3,114,653
Social security costs 309,198 358,792
Other pension costs 165,404 160,682
3,662,298 3,634,127

Dohler (UK) Limited (Registered number: 03114289)

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

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.12.23 31.12.22

Management 2 2
Admin and Support 17 16
Sales 19 17
Technical 8 8
46 43

31.12.23 31.12.22
£    £   
Directors' remuneration 341,261 340,113
Directors' pension contributions to money purchase schemes 38,551 41,316

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
31.12.23 31.12.22
£    £   
Emoluments etc 207,081 202,684
Pension contributions to money purchase schemes 19,980 19,890

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.23 31.12.22
£    £   
Depreciation - owned assets 44,576 37,395
Profit on disposal of fixed assets (4,176 ) (72,923 )
Development costs amortisation 103,103 97,623
Auditors' remuneration 25,029 36,743
Auditors' remuneration for non audit work 12,810 13,920
Research and development 1,892,660 2,365,826

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.23 31.12.22
£    £   
Bank interest - 104
Other loan interest 132,879 91,318
132,879 91,422

Dohler (UK) Limited (Registered number: 03114289)

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

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 307,117 526,472
Overprovsion in prior year 5,347 (251,457 )
Total current tax 312,464 275,015

Deferred tax - 4,139
Tax on profit 312,464 279,154

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.23 31.12.22
£    £   
Profit before tax 2,316,400 2,779,475
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

579,100

528,100

Effects of:
Expenses not deductible for tax purposes (65,207 ) 2,738
Capital allowances in excess of depreciation - (22,914 )
Depreciation in excess of capital allowances 126 -
Adjustments to tax charge in respect of previous periods 5,347 (251,457 )
Research and development tax credit 83,593 18,548
Deferred tax 355 4,139
Change in taxation rate (35,386 ) -
Underprovision of tax liability (255,464 ) -
Total tax charge 312,464 279,154

Dohler (UK) Limited (Registered number: 03114289)

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

8. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 January 2023 524,956
Additions 117,347
At 31 December 2023 642,303
AMORTISATION
At 1 January 2023 200,361
Amortisation for year 103,103
At 31 December 2023 303,464
NET BOOK VALUE
At 31 December 2023 338,839
At 31 December 2022 324,595

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 126,316 31,396 249,004 135,392 542,108
Additions - - 27,829 - 27,829
Disposals - - (12,092 ) (31,350 ) (43,442 )
At 31 December 2023 126,316 31,396 264,741 104,042 526,495
DEPRECIATION
At 1 January 2023 112,641 31,396 145,166 118,012 407,215
Charge for year 502 - 33,509 10,565 44,576
Eliminated on disposal - - (10,518 ) (31,350 ) (41,868 )
At 31 December 2023 113,143 31,396 168,157 97,227 409,923
NET BOOK VALUE
At 31 December 2023 13,173 - 96,584 6,815 116,572
At 31 December 2022 13,675 - 103,838 17,380 134,893

10. STOCKS
31.12.23 31.12.22
£    £   
Stocks 294,010 387,737

Dohler (UK) Limited (Registered number: 03114289)

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

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 12,868,774 12,083,735
Amounts owed by group undertakings 4,059,673 8,151,638
Prepayments 25,625 18,784
16,954,072 20,254,157

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 13) - 851,401
Trade creditors 166,406 638,277
Amounts owed to group undertakings 4,141,531 8,912,927
Corporation tax 307,117 306,472
Social security and other taxes 1,779,625 1,269,782
Accrued expenses 601,631 403,844
6,996,310 12,382,703

13. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 851,401

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 122,153 114,636
Between one and five years 207,201 306,178
329,354 420,814

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

Dohler (UK) Limited (Registered number: 03114289)

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

16. RESERVES
Retained
earnings
£   

At 1 January 2023 9,304,924
Profit for the year 2,003,936
At 31 December 2023 11,308,860

17. ULTIMATE PARENT COMPANY

The company's immediate parent undertaking at the balance sheet date is Continental Fruit B.V. which is incorporated in the Netherlands. In the directors opinion, the company's ultimate parent undertaking is Dohler Group SE, a company registered in Germany. These accounts are consolidated within the group accounts of the ultimate parent company.

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the shareholders of Dohler Group SE, a company registered in Germany.