Company No:
Contents
Note | 31.12.2023 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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Tangible assets | 4 |
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224,483 | ||
Current assets | ||
Debtors | ||
- due within one year | 5 |
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- due after more than one year | 5 |
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Cash at bank and in hand |
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1,951,217 | ||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (197,443) | |
Total assets less current liabilities | 27,040 | |
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Hoffbauer Holding Ltd (registered number:
Mr J Hoffbauer
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Hoffbauer Holding Ltd (the Company) 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 is 16 Churchill Way, Cardiff, CF10 2DX, Wales, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Following incorporation of the Company on 16th December 2022, the reporting period length for the first financial period is 16th December 2022 to 31 December 2023.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
Trademarks, patents and licences |
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Plant and machinery |
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The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Period from 16.12.2022 to 31.12.2023 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Trademarks, patents and licences |
Total | ||
£ | £ | ||
Cost | |||
At 16 December 2022 |
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Additions |
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At 31 December 2023 |
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Accumulated amortisation | |||
At 16 December 2022 |
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Charge for the financial period |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 16 December 2022 |
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Additions |
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At 31 December 2023 |
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Accumulated depreciation | |||
At 16 December 2022 |
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Charge for the financial period |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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31.12.2023 | |
£ | |
Debtors: amounts falling due within one year | |
Amounts owed by related parties |
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Other debtors |
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Debtors: amounts falling due after more than one year | |
Amounts owed by related parties |
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31.12.2023 | |
£ | |
Amounts owed to Ultimate Parent undertakings |
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Amounts owed to directors |
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Accruals |
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31.12.2023 | |
£ | |
Allotted, called-up and not yet paid | |
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Transactions with owners holding a participating interest in the entity
31.12.2023 | |
£ | |
Amounts owed to Parent Company | 2,093,681 |
Transactions with the entity's directors
31.12.2023 | |
£ | |
Directors' Loan Account | (51,779) |
Other related party transactions
31.12.2023 | |
£ | |
Amounts owed by Associated Companies | (1,870,783) |
Parent Company:
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71a, Mühlstrasse, Mühltal, Hessen, Germany, D-64367 |