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REGISTERED NUMBER: 13090033 (England and Wales)





















ASSMANN OFFICE FURNITURE LTD.

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ASSMANN OFFICE FURNITURE LTD. (REGISTERED NUMBER: 13090033)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 7


ASSMANN OFFICE FURNITURE LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A J Claydon
J Lebelt
T U Grosse-Frintrop





REGISTERED OFFICE: 69 Turnmill Street
London
EC1M 5RR





REGISTERED NUMBER: 13090033 (England and Wales)





AUDITORS: Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

ASSMANN OFFICE FURNITURE LTD. (REGISTERED NUMBER: 13090033)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,723 101,321

CURRENT ASSETS
Debtors 5 848,882 948,237
Cash at bank 2,462,986 964,884
3,311,868 1,913,121
CREDITORS
Amounts falling due within one year 6 4,673,773 2,993,922
NET CURRENT LIABILITIES (1,361,905 ) (1,080,801 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,278,182 ) (979,480 )

PROVISIONS FOR LIABILITIES 8 35,833 35,833
NET LIABILITIES (1,314,015 ) (1,015,313 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (1,314,016 ) (1,015,314 )
SHAREHOLDERS' FUNDS (1,314,015 ) (1,015,313 )

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 19 December 2024 and were signed on its behalf by:





T U Grosse-Frintrop - Director


ASSMANN OFFICE FURNITURE LTD. (REGISTERED NUMBER: 13090033)

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


1. STATUTORY INFORMATION

Assmann Office Furniture Ltd. 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 (£).


2. ACCOUNTING POLICIES

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

Going Concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the Company has a deficiency on total equity at the end of the year. The Company is reliant on ASSMANN Buromobel GmbH & CO.KG, a Group company, for support, including the continued supply of goods and working capital support, and by not recalling amounts owed by the Company until a date it has available funds. The Company has received a letter of financial support covering a period of at least twelve months from the date these financial statements were approved. Based on this the directors have concluded there is a reasonable expectation that the Company has adequate resources to continue in operation existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Other fixed assets - in accordance with the lease
Motor vehicles - 25-30% per annum

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 or deferred taxation assets and liabilities are not discounted.

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.


ASSMANN OFFICE FURNITURE LTD. (REGISTERED NUMBER: 13090033)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

ASSMANN OFFICE FURNITURE LTD. (REGISTERED NUMBER: 13090033)

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


4. TANGIBLE FIXED ASSETS
Other
fixed Motor
assets vehicles Totals
£    £    £   
COST
At 1 January 2023 35,833 93,747 129,580
Additions - 12,200 12,200
At 31 December 2023 35,833 105,947 141,780
DEPRECIATION
At 1 January 2023 7,662 20,597 28,259
Charge for year 3,760 26,038 29,798
At 31 December 2023 11,422 46,635 58,057
NET BOOK VALUE
At 31 December 2023 24,411 59,312 83,723
At 31 December 2022 28,171 73,150 101,321

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 588,822 583,220
Amounts owed by group undertakings 38,427 2,239
Other debtors 202,988 45,925
VAT 15,337 311,216
Prepayments and accrued income 3,308 5,637
848,882 948,237

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 202,567 221,840
Amounts owed to group undertakings 4,144,805 2,600,308
Other creditors 100,137 28,630
Accruals and deferred income 226,264 143,144
4,673,773 2,993,922

ASSMANN OFFICE FURNITURE LTD. (REGISTERED NUMBER: 13090033)

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


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 198,179 198,179
Between one and five years 606,612 634,791
In more than five years 358,181 528,181
1,162,972 1,361,151

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Other provisions 35,833 35,833

Dilap-
idation
£   
Balance at 1 January 2023 35,833
Balance at 31 December 2023 35,833

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 ordinary 1 1 1

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

The Report of the Auditors was unqualified.

Stuart Armstrong FCCA (Senior Statutory Auditor)
for and on behalf of Phipps Henson McAllister

11. 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.

ASSMANN OFFICE FURNITURE LTD. (REGISTERED NUMBER: 13090033)

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


12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Assmann Buromobel GmbH & Co KG, registered in Germany.