Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseleasing, maintenance and sale of product banding12falsetruefalse 09404332 2023-01-01 2023-12-31 09404332 2022-01-01 2022-12-31 09404332 2023-12-31 09404332 2022-12-31 09404332 c:Director1 2023-01-01 2023-12-31 09404332 d:MotorVehicles 2023-01-01 2023-12-31 09404332 d:MotorVehicles 2023-12-31 09404332 d:MotorVehicles 2022-12-31 09404332 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09404332 d:OfficeEquipment 2023-01-01 2023-12-31 09404332 d:OfficeEquipment 2023-12-31 09404332 d:OfficeEquipment 2022-12-31 09404332 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09404332 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09404332 d:CurrentFinancialInstruments 2023-12-31 09404332 d:CurrentFinancialInstruments 2022-12-31 09404332 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09404332 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09404332 d:ShareCapital 2023-12-31 09404332 d:ShareCapital 2022-12-31 09404332 d:RetainedEarningsAccumulatedLosses 2023-12-31 09404332 d:RetainedEarningsAccumulatedLosses 2022-12-31 09404332 c:FRS102 2023-01-01 2023-12-31 09404332 c:Audited 2023-01-01 2023-12-31 09404332 c:FullAccounts 2023-01-01 2023-12-31 09404332 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09404332 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09404332 2 2023-01-01 2023-12-31 09404332 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09404332










ATS-TANNER BANDING SYSTEMS (UK) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023


 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
REGISTERED NUMBER: 09404332

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,124
1,860

  
4,124
1,860

Current assets
  

Stocks
  
410,839
450,185

Debtors: amounts falling due within one year
 5 
192,031
308,096

Cash at bank and in hand
 6 
102,602
355,591

  
705,472
1,113,872

Creditors: amounts falling due within one year
 7 
(681,700)
(1,083,741)

Net current assets
  
 
 
23,772
 
 
30,131

Total assets less current liabilities
  
27,896
31,991

  

Net assets
  
27,896
31,991


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Profit and loss account
  
(72,104)
(68,009)

  
27,896
31,991


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 comprehensive income 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: 




Serge Tanner
Director

Date: 2 October 2024

The notes on pages 3 to 11 form part of these financial statements.
Page 1

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
REGISTERED NUMBER: 09404332
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


Page 2

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The entity is a private company limited by shares incorporated in England. The registered office is Catalyst House, 720 Centennial Court, Centennial Park, Elstree, Hertfordshire, United Kingdom, WD6 3SY which is also the principal place of business. The principal activity of the company during the year was the leasing, maintenance and sale of product banding machines.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in £ sterling, the functional currency, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The going concern basis is considered by the directors to be appropriate due to the confirmation of ongoing financial support provided by group companies for at least 12 months from the date of approval of the financial statements. 
The Directors have considered relevant information, including the impact of subsequent events in making their assessment. The parent company is also willing to support this entity financially.
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

Page 3

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

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

Page 4

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Taxation

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.9

Tangible fixed assets

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Office equipment
-
33%

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.

Page 6

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are
Page 7

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.



Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 8

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
27,500
5,890
33,390


Additions
-
3,214
3,214


Disposals
(27,500)
-
(27,500)



At 31 December 2023

-
9,104
9,104



Depreciation


At 1 January 2023
27,500
4,030
31,530


Charge for the year on owned assets
-
950
950


Disposals
(27,500)
-
(27,500)



At 31 December 2023

-
4,980
4,980



Net book value



At 31 December 2023
-
4,124
4,124



At 31 December 2022
-
1,860
1,860


5.


Debtors

2023
2022
£
£


Trade debtors
168,666
293,478

Other debtors
1,307
1,307

Prepayments and accrued income
22,058
13,311

192,031
308,096


Page 9

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
102,602
355,591



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,763
51,360

Corporation tax
-
154

Other taxation and social security
38,385
60,018

Amounts owed to group undertakings
618,583
928,509

Accruals and deferred income
17,969
43,700

681,700
1,083,741



8.


Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £440 (2022: £Nil). Contributions totalling £Nil (2022: £Nil) were payable to the fund at the reporting date.


9.


Related party transactions

The company has taken advantage of the exemption available in Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.


10.


Parent entity and controlling party

The immediate and ultimate parent undertaking is ATS Holding AG, a company registered in Switzerland.
The company was under the control of the owners of the ordinary shares of ATS Holding AG during the year and the prior year.

Page 10

 
ATS-TANNER BANDING SYSTEMS (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Auditors' information

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

The qualification in the audit report was as follows:
The death of one of the entity's key employees, responsible for stock management, resulted in the auditors being unable to reconcile the stock quantities per the physical stock take carried out on 24 January 2024, with the stock quantities held at year end.  These are included in the balance sheet at £410,839.

The audit report was signed on 4 October 2024 by Neil Stern FCA (Senior Statutory Auditor) on behalf of MHA.

 
Page 11