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REGISTERED NUMBER: 05877422 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BORGER UK LIMITED

BORGER UK LIMITED (REGISTERED NUMBER: 05877422)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


BORGER UK LIMITED (REGISTERED NUMBER: 05877422)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,301 3,730

CURRENT ASSETS
Stocks - finished goods 153,787 171,707
Debtors 5 883,221 1,177,328
Cash at bank and in hand 3,390,802 3,070,529
4,427,810 4,419,564
CREDITORS
Amounts falling due within one year 6 1,597,237 2,187,478
NET CURRENT ASSETS 2,830,573 2,232,086
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,834,874

2,235,816

PROVISIONS FOR LIABILITIES 1,000 1,000
NET ASSETS 2,833,874 2,234,816

CAPITAL AND RESERVES
Called up share capital 9 34,430 34,430
Retained earnings 2,799,444 2,200,386
SHAREHOLDERS' FUNDS 2,833,874 2,234,816

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 director and authorised for issue on 16 August 2024 and were signed by:





D H Brown - Director


BORGER UK LIMITED (REGISTERED NUMBER: 05877422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Borger UK Limited is a private company, limited by shares, registered in England and Wales, registration number 05877422. The registered office is East Wing Old School, Watling Street, Gailey, Staffordshire, ST19 5PR.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The following principal accountancy policies have been applied consistently.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and that it can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised from the sale of goods when the entity has transferred to the buyer the significant risks and rewards of ownership of the goods. This occurs when the buyer takes possession of the goods.

Revenue from the provision of services is recognised when the service have been provided and the obligations under the contract have been met.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Repairs and maintenance are charged to the income statement during the period in which they are incurred.

Depreciation on assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. The depreciation policies range as follows:

Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on cost and 25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the income statement.

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.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its net realisable value. The impairment loss is recognised immediately in the income statement.

BORGER UK LIMITED (REGISTERED NUMBER: 05877422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets
Financial assets comprise cash at bank and in hand, trade debtors and other debtors; these are initially recorded at cost on the date they originate and are subsequently recorded at cost less provisions for impairment. The company considers evidence of impairment for all individual trade and other debtors, and any subsequent impairment is recognised in the income statement.

Impairment of financial assets
Impairment provisions are recognised when there is objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes significant financial difficulties of the counterparty, default or significant delays in payment.

Impairment provisions represent the difference between the net carrying amount of a financial asset and the value of the expected future cash receipts from that asset.

Financial liabilities
Financial liabilities comprise trade creditors, amounts owed to group undertakings and other creditors; these are initially recorded, and subsequently carried, at amortised cost.

Current and deferred taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except that a change attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Deferred tax balances are not discounted.

Foreign currencies
Monetary 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.

Operating leases
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.

BORGER UK LIMITED (REGISTERED NUMBER: 05877422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Accounting policy judgements and key sources of estimation uncertainty
In preparing these financial statements, the director has had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income expenses.

The estimates and associated assumptions are based on historic experiences and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. The judgements, estimates and assumptions which have a significant risk of material adjustment to the carrying amount of assets and liabilities are:

Stock provisions
The company has recognised amounts for the impairment of stock. The judgements, estimates and associated assumptions necessary to calculate these provisions are based on historical experience and other reasonable factors.

Trade debtor recoverability
The company recognises provisions against specific trade debtor balances. The judgements and estimates necessary to calculate these provisions are based on historical experience and other reasonable factors. This provision is based on the age of debtor balances and the assessed recoverability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 53,089
Additions 1,604
At 31 December 2023 54,693
DEPRECIATION
At 1 January 2023 49,359
Charge for year 1,033
At 31 December 2023 50,392
NET BOOK VALUE
At 31 December 2023 4,301
At 31 December 2022 3,730

BORGER UK LIMITED (REGISTERED NUMBER: 05877422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 865,351 1,161,835
Other debtors 17,870 15,493
883,221 1,177,328

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 61,582 26,760
Amounts owed to group undertakings 977,221 1,728,115
Taxation and social security 441,255 348,329
Other creditors 117,179 84,274
1,597,237 2,187,478

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 6,708 6,708

8. FINANCIAL INSTRUMENTS

The company's financial instruments may be analysed as follows:
2023 2022
£ £
Financial assets
Financial assets measured at cost less provision 4,274,022 4,247,857
Financial liabilities
Financial liabilities measured at costs 1,155,982 1,839,149


Financial assets comprise cash at bank and in hand, trade debtors, and other debtors; these are initially recorded at cost on the date they originate and are subsequently recorded at cost less provision for impairment.

Financial liabilities comprise bank overdrafts, trade creditors, amounts owed to group undertakings, finance leases and other creditors and accruals; these are initially recorded, and subsequently carried, at cost on the date they originate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
34,430 Ordinary £1 34,430 34,430

BORGER UK LIMITED (REGISTERED NUMBER: 05877422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Brassington BA FCA (Senior Statutory Auditor)
For and on behalf of Blackthorns

11. RELATED PARTY DISCLOSURES

31.12.23 31.12.22
Borger Gmbh £    £   
(Parent company)

Purchases from related party 2,505,960 2,401,050
Late payment charges paid to related party 37,780 11,362
Amount due to related party at the balance sheet date 977,221 1,728,115

Key management personnel are considered to be the director, who has authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel is as disclosed in note 3 of the financial statements plus employer's national insurance of £12,696 (2022 - £15,499).

12. CONTROL

The ultimate controlling party is Borger Gmbh.

The company is an 80% subsidiary of Borger GmbH. Borger GmbH is a 100% subsidiary pf Borger Beteiligungs GmbH & Co. KG, which is not under the control of any one individual.

The largest and smallest group in which the results of the company are consolidated is that headed by Borger Beteiligungs GmbH & Co. KG., the ultimate parent company of Borger GmbH, and incorporated in Germany. The company's principal place of business is Simmlerstrasse, 12 75172, Pforzheim, Baden-Wúrttemberg, Germany. Consolidated accounts of this company are available to the public and may be obtained from http://www.bundesanzeiger.de.