Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsetrueNo description of principal activity162023-01-0120falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08915340 2023-01-01 2023-12-31 08915340 2023-12-31 08915340 2022-01-01 2022-12-31 08915340 2022-12-31 08915340 1 2023-01-01 2023-12-31 08915340 d:Director11 2023-01-01 2023-12-31 08915340 d:Director11 2023-12-31 08915340 d:Director12 2023-01-01 2023-12-31 08915340 d:Director12 2023-12-31 08915340 d:RegisteredOffice 2023-01-01 2023-12-31 08915340 c:PlantMachinery 2023-01-01 2023-12-31 08915340 c:PlantMachinery 2023-12-31 08915340 c:PlantMachinery 2022-12-31 08915340 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08915340 c:ComputerSoftware 2023-12-31 08915340 c:ComputerSoftware 2022-12-31 08915340 c:CurrentFinancialInstruments 2023-12-31 08915340 c:CurrentFinancialInstruments 2022-12-31 08915340 c:Non-currentFinancialInstruments 2023-12-31 08915340 c:Non-currentFinancialInstruments 2022-12-31 08915340 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 08915340 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 08915340 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 08915340 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 08915340 c:ShareCapital 2023-12-31 08915340 c:ShareCapital 2022-12-31 08915340 c:SharePremium 2023-12-31 08915340 c:SharePremium 2022-12-31 08915340 c:RetainedEarningsAccumulatedLosses 2023-12-31 08915340 c:RetainedEarningsAccumulatedLosses 2022-12-31 08915340 d:FRS102 2023-01-01 2023-12-31 08915340 d:Audited 2023-01-01 2023-12-31 08915340 d:FullAccounts 2023-01-01 2023-12-31 08915340 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08915340 d:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08915340 c:ComputerSoftware c:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 08915340







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)



































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GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


 
COMPANY INFORMATION


Directors
I Patterson (appointed 2 September 2024)
O Sadchykov (appointed 2 September 2024)




Registered number
08915340



Registered office
Fourth Floor
Abbots House

Abbey Street

Reading

Berkshire

RG1 3BD




Trading Address
Halifax House
Cressex Business Park

Coronation Road

High Wycombe

HP12 3SE






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditors

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 9


 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
REGISTERED NUMBER:08915340



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
5,666
12,143

Tangible assets
 5 
17,993
19,694

  
23,659
31,837

Current assets
  

Stocks
  
313,227
273,029

Debtors: amounts falling due within one year
 6 
4,148,123
2,820,889

Cash at bank and in hand
  
218,562
75,526

  
4,679,912
3,169,444

Creditors: amounts falling due within one year
 7 
(3,049,162)
(2,067,701)

Net current assets
  
 
 
1,630,750
 
 
1,101,743

Total assets less current liabilities
  
1,654,409
1,133,580

Creditors: amounts falling due after more than one year
 8 
(335,601)
(302,973)

Provisions for liabilities
  

Other provisions
  
(31,545)
(4,560)

  
 
 
(31,545)
 
 
(4,560)

Net assets
  
1,287,263
826,047


Capital and reserves
  

Called up share capital 
  
564,244
564,244

Share premium account
  
99,999
99,999

Profit and loss account
  
623,020
161,804

  
1,287,263
826,047


Page 1

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
REGISTERED NUMBER:08915340


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by by 




................................................
I Patterson
Director

Date: 30 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


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

1.


General information

Grundfos Water Treatment UK Ltd. (formerly known as Culligan Commercial (UK) Limited) is a private Company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is shown on the Company Information page.
The principal activities of the Company are that of water treatment goods and services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

Page 3

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


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

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover includes amounts recoverable on contracts in progress at the balance sheet date depending on the stage of completion.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


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

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and 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 in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Intangible assets are set to be amortised over a period of 4 years. 

Page 5

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


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

2.Accounting policies (continued)

 
2.9

Tangible fixed asset

Tangible fixed assets under the cost model 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or 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 in profit or loss.

 
2.10

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 6

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


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

3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2022 - 16).


4.


Intangible assets




Computer software

£



Cost


At 1 January 2023
19,430



At 31 December 2023

19,430



Amortisation


At 1 January 2023
7,287


Charge for the year on owned assets
6,477



At 31 December 2023

13,764



Net book value



At 31 December 2023
5,666



At 31 December 2022
12,143



Page 7

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


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

5.


Tangible fixed assets





Plant and machinery

£



Cost 


At 1 January 2023
104,101


Additions
9,684



At 31 December 2023

113,785



Depreciation


At 1 January 2023
84,407


Charge for the year on owned assets
11,385



At 31 December 2023

95,792



Net book value



At 31 December 2023
17,993



At 31 December 2022
19,694


6.


Debtors

2023
2022
£
£


Trade debtors
2,223,263
793,615

Amounts owed by group undertakings
1,846,501
1,908,408

Other debtors
-
4,950

Prepayments and accrued income
50,283
89,734

Deferred taxation
28,076
24,182

4,148,123
2,820,889


Page 8

 


GRUNDFOS WATER TREATMENT UK LTD. (FORMERLY CULLIGAN COMMERCIAL (UK) LIMITED)
 


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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
103,402
113,529

Amounts owed to group undertakings
1,625,011
1,504,617

Corporation tax
7,228
56,567

Other taxation and social security
298,306
65,954

Other creditors
148,702
135,950

Accruals and deferred income
866,513
191,084

3,049,162
2,067,701



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
335,601
302,973

335,601
302,973



9.


Post balance sheet events

On 6 September 2024, the Company was acquired by Grundfos Holding A/S.


10.


Parent company

The company is a member of a group. The parent of the smallest group which prepares consolidated financial statements of which the company is a member is Osmosis Holdings LP. 
The registered office address is: 9399 W.Higgins Rd, Suite 1100 Rosemont, IL60018, USA.
On 6 September 2024, the Company was acquired by Grundfos Holding A/S. The registered office address is: Poul Due Jensens Vej 7, DK-8850, Bjerringbro, Denmark.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 30 September 2024 by Tom Woods FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 9