Company registration number 01878633 (England and Wales)
TEMA ISENMANN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TEMA ISENMANN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TEMA ISENMANN LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
180,676
207,332
Current assets
Stocks
1,741,303
2,182,457
Debtors
4
2,632,213
2,551,557
Cash at bank and in hand
216,700
543,226
4,590,216
5,277,240
Creditors: amounts falling due within one year
5
(1,909,073)
(2,609,223)
Net current assets
2,681,143
2,668,017
Total assets less current liabilities
2,861,819
2,875,349
Provisions for liabilities
(11,958)
(15,476)
Net assets
2,849,861
2,859,873
Capital and reserves
Called up share capital
66,000
66,000
Profit and loss reserves
2,783,861
2,793,873
Total equity
2,849,861
2,859,873
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime of the Companies Act 2006.
The financial statements were approved by the board of directors and authorised for issue on 24 July 2024 and are signed on its behalf by:
Mr J P Cranston
Director
Company registration number 01878633 (England and Wales)
TEMA ISENMANN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Tema Isenmann Limited is a private company limited by shares incorporated in England and Wales. The registered office is noted on the company information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures & fittings
10% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
35% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
TEMA ISENMANN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents
Cash at bank and in hand are basic financial assets which 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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.7
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.
1.8
Retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
1.9
Foreign exchange
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 the transaction. Exchange differences are taken into account in arriving at the operating profit.
TEMA ISENMANN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
16
17
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
113,413
28,768
237,670
379,851
Additions
6,030
9,161
28,526
43,717
Disposals
(4,324)
(21,205)
(25,529)
At 31 December 2023
119,443
33,605
244,991
398,039
Depreciation and impairment
At 1 January 2023
64,339
18,091
90,089
172,519
Depreciation charged in the year
5,269
3,506
57,334
66,109
Eliminated in respect of disposals
(3,462)
(17,803)
(21,265)
At 31 December 2023
69,608
18,135
129,620
217,363
Carrying amount
At 31 December 2023
49,835
15,470
115,371
180,676
At 31 December 2022
49,074
10,677
147,581
207,332
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,613,191
2,514,475
Amounts owed by group undertakings
4,119
6,289
Prepayments and accrued income
14,903
30,793
2,632,213
2,551,557
TEMA ISENMANN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
34,684
48,033
Amounts owed to group undertakings
1,521,446
2,154,595
Corporation tax
34,154
25,204
Other taxation and social security
303,076
348,278
Accruals and deferred income
15,713
33,113
1,909,073
2,609,223
6
Audit report information
As the profit and loss account has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The audit report in respect of these accounts was unqualified with no emphasis of matter. The Senior Statutory Auditor was Charlotte Toemaes of Ellacotts Audit Services Limited.
Senior Statutory Auditor:
Charlotte Toemaes BSc FCA
Statutory Auditor:
Ellacotts Audit Services Limited
Date of audit report:
2 September 2024
7
Related party transactions
In accordance with FRS102, the company has not disclosed transactions with other group companies as its results are consolidated into the financial statements of the ultimate parent undertaking, which are publicly available.
8
Parent company
The immediate parent company is Siebtechnik Tema Limited, a company registered in England and Wales. The parent company of Siebtechnik Tema Limited is Tema Holding NV, by virtue of holding 69.1% of the company's share capital, the remaining 30.9% is held by Isenmann Siebe GmbH.
The ultimate parent company of Tema Isenmann Limited is Stafag International GmbH. Stafag International GmbH group accounts can be obtained from Platanenallee 46, 45478 Mulheim an der Ruhr, Germany.