Haimer UK Ltd 09702189 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is agents involved in the sale of machinery and parts. Digita Accounts Production Advanced 6.30.9574.0 true true true 09702189 2023-01-01 2023-12-31 09702189 2023-12-31 09702189 core:RetainedEarningsAccumulatedLosses 2023-12-31 09702189 core:ShareCapital 2023-12-31 09702189 core:CurrentFinancialInstruments 2023-12-31 09702189 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09702189 core:FurnitureFittingsToolsEquipment 2023-12-31 09702189 core:LandBuildings 2023-12-31 09702189 bus:SmallEntities 2023-01-01 2023-12-31 09702189 bus:Audited 2023-01-01 2023-12-31 09702189 bus:FilletedAccounts 2023-01-01 2023-12-31 09702189 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09702189 bus:RegisteredOffice 2023-01-01 2023-12-31 09702189 bus:Director1 2023-01-01 2023-12-31 09702189 bus:Director2 2023-01-01 2023-12-31 09702189 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09702189 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 09702189 core:LandBuildings 2023-01-01 2023-12-31 09702189 core:LeaseholdImprovements 2023-01-01 2023-12-31 09702189 core:OfficeEquipment 2023-01-01 2023-12-31 09702189 1 2023-01-01 2023-12-31 09702189 countries:EnglandWales 2023-01-01 2023-12-31 09702189 2022-12-31 09702189 core:FurnitureFittingsToolsEquipment 2022-12-31 09702189 core:LandBuildings 2022-12-31 09702189 2022-01-01 2022-12-31 09702189 2022-12-31 09702189 core:RetainedEarningsAccumulatedLosses 2022-12-31 09702189 core:ShareCapital 2022-12-31 09702189 core:CurrentFinancialInstruments 2022-12-31 09702189 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09702189 core:FurnitureFittingsToolsEquipment 2022-12-31 09702189 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 09702189

Haimer UK Ltd

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Haimer UK Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Haimer UK Ltd

(Registration number: 09702189)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

70,996

93,639

Current assets

 

Stocks

5

50,914

15,547

Debtors

6

587,448

596,208

Cash at bank and in hand

 

378,145

286,125

 

1,016,507

897,880

Creditors: Amounts falling due within one year

7

(779,732)

(951,631)

Net current assets/(liabilities)

 

236,775

(53,751)

Total assets less current liabilities

 

307,771

39,888

Provisions for liabilities

(16,698)

-

Net assets

 

291,073

39,888

Capital and reserves

 

Called up share capital

70,250

70,250

Retained earnings

220,823

(30,362)

Shareholders' funds

 

291,073

39,888

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 September 2024 and signed on its behalf by:
 

.........................................
A Haimer
Director

.........................................
C Haimer
Director

 

Haimer UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3 Kestrel Court
Network 65 Business Park
Burnley
Lancashire
BB11 5NA
England

These financial statements were authorised for issue by the Board on 12 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern
The directors have confirmed the wider Group will provide continuing financial support to this company, if and when required.

The directors consider that this continuing support, as well as the continued growth of the company and its strong cash position, places the company in a position to overcome the challenges that may arise over the forthcoming 12 months. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

The financial statements do not inclue any adjustments that may result if these assumptions do not prove to be correct.

 

Haimer UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 12 September 2024 was Richard Robinson BA FCA, who signed for and on behalf of MacMahon Leggate Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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 in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Haimer UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

over the period of the lease

Fixtures, fittings and equipment

25% reducing balance

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Haimer UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 7).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

2,330

211,894

214,224

Additions

-

525

525

At 31 December 2023

2,330

212,419

214,749

Depreciation

At 1 January 2023

2,330

118,255

120,585

Charge for the year

-

23,168

23,168

At 31 December 2023

2,330

141,423

143,753

Carrying amount

At 31 December 2023

-

70,996

70,996

At 31 December 2022

-

93,639

93,639

 

Haimer UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Stocks

2023
£

2022
£

Other inventories

50,914

15,547

6

Debtors

Current

2023
£

2022
£

Trade debtors

549,182

557,634

Prepayments

38,266

21,753

Other debtors

-

16,821

 

587,448

596,208

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

628,987

829,739

Taxation and social security

118,247

98,904

Accruals and deferred income

23,004

20,748

Other creditors

5,333

2,240

Owed by/(from) group undertakings

4,161

-

779,732

951,631

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £187,477 (2022 - £115,378).

9

Parent and ultimate parent undertaking

The company's immediate parent is Haimer GMBH, incorporated in Germany.