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REGISTERED NUMBER: 01704124 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

NEWTEC ODENSE(U.K.) LIMITED

NEWTEC ODENSE(U.K.) LIMITED (REGISTERED NUMBER: 01704124)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NEWTEC ODENSE(U.K.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr A B Petersen
Mr R S Mumford





REGISTERED OFFICE: 21 - 23 Fleet Road Industrial Estate
Fleet Road
Holbeach
Lincolnshire
PE12 8LY





REGISTERED NUMBER: 01704124 (England and Wales)





AUDITORS: Bronsens
Statutory Auditor
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

NEWTEC ODENSE(U.K.) LIMITED (REGISTERED NUMBER: 01704124)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 110,878 82,108

CURRENT ASSETS
Stocks 6 2,444,551 1,159,134
Debtors 7 2,095,810 1,142,609
Investments 8 406,931 406,931
Cash at bank and in hand 1,819,018 735,018
6,766,310 3,443,692
CREDITORS
Amounts falling due within one year 9 4,593,156 1,384,927
NET CURRENT ASSETS 2,173,154 2,058,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,284,032

2,140,873

CREDITORS
Amounts falling due after more than one
year

10

(23,951

)

-

PROVISIONS FOR LIABILITIES 11 (19,867 ) (14,191 )
NET ASSETS 2,240,214 2,126,682

CAPITAL AND RESERVES
Called up share capital 12 15,000 15,000
Retained earnings 2,225,214 2,111,682
SHAREHOLDERS' FUNDS 2,240,214 2,126,682

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Mr R S Mumford - Director


NEWTEC ODENSE(U.K.) LIMITED (REGISTERED NUMBER: 01704124)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Newtec Odense(U.K.) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The nature of the company's operations and principal activity is that of design and manufacture of high quality weighing, packing and sorting machinery. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Machine sales are recognised on delivery to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

NEWTEC ODENSE(U.K.) LIMITED (REGISTERED NUMBER: 01704124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Foreign currencies
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Current asset investments
Current assets investment are stated at cost and do not take into account any unrealised foreign exchange rate differences.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

NEWTEC ODENSE(U.K.) LIMITED (REGISTERED NUMBER: 01704124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 15,998 17,272 155,720 9,164 198,154
Additions - 9,307 73,136 - 82,443
Disposals - (2,536 ) (36,044 ) - (38,580 )
At 30 April 2024 15,998 24,043 192,812 9,164 242,017
DEPRECIATION
At 1 May 2023 7,968 16,653 84,854 6,571 116,046
Charge for year 2,073 2,353 36,001 1,084 41,511
Eliminated on disposal - (2,408 ) (24,010 ) - (26,418 )
At 30 April 2024 10,041 16,598 96,845 7,655 131,139
NET BOOK VALUE
At 30 April 2024 5,957 7,445 95,967 1,509 110,878
At 30 April 2023 8,030 619 70,866 2,593 82,108

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 44,930
At 30 April 2024 44,930
DEPRECIATION
Charge for year 8,986
At 30 April 2024 8,986
NET BOOK VALUE
At 30 April 2024 35,944

6. STOCKS
30.4.24 30.4.23
£    £   
Stocks 2,444,551 1,159,134

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 2,065,773 1,076,017
Prepayments 30,037 66,592
2,095,810 1,142,609

NEWTEC ODENSE(U.K.) LIMITED (REGISTERED NUMBER: 01704124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CURRENT ASSET INVESTMENTS

The investment relates to UK Treasury 2.75% bonds that mature on 7 September 2024.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 5,989 -
Trade creditors 247,702 72,817
Tax 171,081 62,509
Social security and other taxes 13,355 12,466
VAT 333,630 175,571
Amount owed to group companies 2,637,543 418,756
Deferred income - deposits 1,095,266 565,361
Accrued expenses 88,590 77,447
4,593,156 1,384,927

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 23,951 -

11. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 19,867 14,191

Deferred
tax
£   
Balance at 1 May 2023 14,191
Provided during year 5,676
Balance at 30 April 2024 19,867

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
15,000 Ordinary £1 15,000 15,000

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

The Report of the Auditors was unqualified.

Mr Mark Nicholas Winks (Senior Statutory Auditor)
for and on behalf of Bronsens

NEWTEC ODENSE(U.K.) LIMITED (REGISTERED NUMBER: 01704124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

15. ULTIMATE CONTROLLING PARTY

The controlling party is Newtec Holding A/S.

The company is under the control of its parent company Newtec Holding A/S, a company incorporated in Denmark, by virtue of their 100% shareholding. Consolidated accounts can be obtained from their registered office at Staermosegardsvej 18, DK 5230 Odense M, Denmark.