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Registered number: 07021098










M. BRAUN UK LIMITED










DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
M. BRAUN UK LIMITED
 
 
COMPANY INFORMATION


Directors
P Bane 
D Kacerovsky 
P Bieger (resigned 11 December 2024)
H Mayrhofer (appointed 11 December 2024)




Registered number
07021098



Registered office
Room 405
Mansfield Business Centre

Ashfield Avenue

Mansfield

Nottinghamshire

NG18 2AE




Independent auditor
MHA
Statutory Auditors

11 Merus Court

Meridian Business Park

Leicester

LE19 1RJ




Bankers
HSBC Bank Plc
1 Leeming Street

Mansfield

Nottinghamshire

NG18 1LU





 
M. BRAUN UK LIMITED
 

CONTENTS



Page
Directors' Report
 
1 - 2
Independent Auditor's Report
 
3 - 6
Statement of Comprehensive Income
 
7
Balance Sheet
 
8 - 9
Statement of Changes in Equity
 
10
Notes to the Financial Statements
 
11 - 22


 
M. BRAUN UK LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors

The directors who served during the year were:

P Bane 
D Kacerovsky 
P Bieger (resigned 11 December 2024)
H Mayrhofer (appointed 11 December 2024)

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

The auditor, MHAwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Page 1

 
M. BRAUN UK LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf.
 





................................................
P Bane
Director

Date: 29 January 2025

Room 405
Mansfield Business Centre
Ashfield Avenue
Mansfield
Nottinghamshire
NG18 2AE

Page 2

 
M. BRAUN UK LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF M. BRAUN UK LIMITED
 

Opinion


We have audited the financial statements of M. Braun UK Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
M. BRAUN UK LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF M. BRAUN UK LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Page 4

 
M. BRAUN UK LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF M. BRAUN UK LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
 
enquiry of management and those charged with governance around actual, potential or suspected litigation, claims, non-compliance with applicable laws and regulations and fraud;
enquiry of entity staff in tax and compliance functions and external advisors to identify any instances of non-compliance with laws and regulations;
performing audit work over the risk of management override, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
reviewing the financial statements disclosures and testing these to supporting documentation to assess compliance with applicable laws and regulations; and
discussions amongst the engagement team in relation to how and where fraud might occur in the financial statements and any potential indicators of fraud.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Page 5

 
M. BRAUN UK LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF M. BRAUN UK LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Liam Hammond FCA (Senior Statutory Auditor)
  
for and on behalf of 
MHA, Statutory Auditor
 
Leicester, United Kingdom

Date: 29 January 2025
MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313).
Page 6

 
M. BRAUN UK LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
725,908
886,710

Gross profit
  
725,908
886,710

Administrative expenses
  
(622,966)
(663,659)

Operating profit
 5 
102,942
223,051

Tax on profit
 9 
(24,674)
(53,137)

Profit for the financial year
  
78,268
169,914

There were no recognised gains and losses for 2024 or 2023 other than those included in the Statement of Comprehensive Income.

There was no other comprehensive income for 2024 (2023: £NIL).

The notes on pages 11 to 22 form part of these financial statements.

Page 7

 
M. BRAUN UK LIMITED
REGISTERED NUMBER: 07021098

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 11 
12,495
7,104

  
12,495
7,104

Current assets
  

Debtors: amounts falling due within one year
 12 
245,718
336,012

Cash at bank and in hand
 13 
44,653
48,558

  
290,371
384,570

Current liabilities
  

Creditors: amounts falling due within one year
 14 
(206,806)
(308,882)

Net current assets
  
 
 
83,565
 
 
75,688

Total assets less current liabilities
  
96,060
82,792

  

Net assets
  
96,060
82,792


Capital and reserves
  

Called up share capital 
 15 
1
1

Profit and loss account
  
96,059
82,791

  
96,060
82,792


Page 8

 
M. BRAUN UK LIMITED
REGISTERED NUMBER: 07021098
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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




................................................
P Bane
Director

Date: 29 January 2025

The notes on pages 11 to 22 form part of these financial statements.

Page 9

 
M. BRAUN UK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
1
62,877
62,878


Comprehensive income for the year

Profit for the year
-
169,914
169,914

Dividends: Equity capital
-
(150,000)
(150,000)



At 1 January 2024
1
82,791
82,792


Comprehensive income for the year

Profit for the year
-
78,268
78,268

Dividends: Equity capital
-
(65,000)
(65,000)


At 31 December 2024
1
96,059
96,060


The notes on pages 11 to 22 form part of these financial statements.

Profit and loss account
Includes all current and prior period retained profit and losses. All amounts distributable.

Page 10

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

M. Braun UK Limited is a company limited by shares which is incorporated in England and Wales, registration number 07021098. The registered office is Room 405, Mansfield Business Centre, Ashfield Avenue, Mansfield, Nottinghamshire, NG18 2AE.
The principal activity of the Company throughout the year continued to be that of commission based sales and technical services for inert-gas systems. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied for all years presented unless otherwise stated.

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; and
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of INDUS Holding AG as at 31 December 2024 and these financial statements may be obtained from www.indus.de.

 
2.3

Going concern

After reviewing the Company's forecasts, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Based on the continued profitability and working capital, the directors consider the Company has the ability to continue as a going concern for the next 12 months and have not identified any material uncertainity in relation to going concern. The financial statements are therefore prepared on a going concern basis.

Page 11

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is British Pound Sterling (£).

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 the Statement of Comprehensive Income 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 administration expenses.

 
2.5

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:

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.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

Page 12

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
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.
 
 
2.8

Taxation

Tax is recognised in the Statement of Comprehensive Income 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.

 
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:

Fixtures and fittings
-
3 years straight line per annum
Office equipment
-
3 years straight line per annum

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 the Statement of Comprehensive Income.

 
2.10

Debtors

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

Page 13

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. 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.

 
2.12

Creditors

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

 
2.13

Financial instruments

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a  inancing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate  or measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 14

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Sales commission
521,705
677,413

Provision of technical services
204,203
209,297

725,908
886,710


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
725,908
868,200

Rest of the World
-
18,510

725,908
886,710


Page 15

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
4,638
3,329

Exchange differences
373
673

Other operating lease rentals
40,307
40,979


6.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2024
2023
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
13,750
12,500

2024
2023
£
£

Fees payable to the Company's auditor and its associates in respect of:


Other services supplies pursuant to such legislation
14,664
7,899

14,664
7,899

Page 16

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Employees

2024
2023
£
£

Wages and salaries
380,021
397,799

Social security costs
42,378
47,920

Cost of defined contribution scheme
36,165
31,220

458,564
476,939


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
3



Administration
5
4

8
7


8.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
168,325
191,120

Company contributions to defined contribution pension schemes
10,508
11,246

178,833
202,366


During the year retirement benefits were accruing to 1 director (2023: 1) in respect of defined contribution pension schemes.


9.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
24,674
53,137


24,674
53,137


Total current tax
24,674
53,137

Page 17

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
9.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023: lower than) the standard rate of corporation tax in the UK of25% (2023: 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
102,942
223,051


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023: 25%)
25,736
55,763

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
286
177

Capital allowances for year in excess of depreciation
(1,348)
539

Adjustment for change in UK tax rate leading to a decrease in the tax charge
-
(3,342)

Total tax charge for the year
24,674
53,137

Page 18

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
9.Taxation (continued)


Factors that may affect future tax charges

From 1 April 2023, the Corporation Tax main rate was increased to 25% for profits over £250,000. A small profits rate has also been introduced for profits of £50,000 or less, charging Corporation Tax at 19%. Profits between £50,000 and £250,000 will be taxed at the main rate reduced by a marginal relief providing a gradual increase in the effective Corporation Tax rate. Deferred tax has been calculated at 25%.

BEPS 2.0 Pillar 2 Legislation
M. Braun UK Limited is part of a group that operates in a number of jurisdictions. The standard tax rate in the UK at the end of financial year 2024 was 25% (2023: 25%). The effective tax rate for the financial year 2023 was 24% (2023: 24%). The difference is due to a combination of non-deductible expenses, capital allowances in excess of depreciation, and a change in the UK rate of corporation tax part way through the year.
For periods commencing on or after 1 January 2024, new tax legislation will apply to ensure the effective tax rate of the UK companies within the group will be at least 15%, subject to various complex calculations. This is in line with the minimum taxation rules announced by the G7 and progressed by the OECD Inclusive Framework on Base Erosion and Profit Shifting. These rules have been implemented in the UK via the Domestic Top Up Tax legislation during the year.
Historically M. Braun UK Limited’s effective rate has been above 15% and the company has assessed its future exposure to Domestic Top Up Tax to be immaterial. In addition, the temporary exemption has been taken in relation to recognising any deferred tax assets or liabilities in relation to the OECD pillar two income taxes.


10.


Dividends

2024
2023
£
£


Dividends paid on Ordinary Shares
65,000
150,000

65,000
150,000

Page 19

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
18,900
8,223
27,123


Additions
2,040
7,989
10,029


Disposals
(980)
-
(980)



At 31 December 2024

19,960
16,212
36,172



Depreciation


At 1 January 2024
13,224
6,795
20,019


Charge for the year on owned assets
1,956
2,682
4,638


Disposals
(980)
-
(980)



At 31 December 2024

14,200
9,477
23,677



Net book value



At 31 December 2024
5,760
6,735
12,495



At 31 December 2023
5,676
1,428
7,104

Page 20

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
222,141
312,862

Other debtors
6,062
3,932

Prepayments and accrued income
17,515
19,218

245,718
336,012



13.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
44,653
48,558

44,653
48,558



14.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
66,302
150,000

Corporation tax
-
1,437

Other taxation and social security
10,504
9,968

Accruals and deferred income
130,000
147,477

206,806
308,882


A provision of £25,000 (2023: £25,000) has been included in accruals to cover expected remedial works required on an installation. The provision is based on management’s best estimate of the hours required to complete the remedial work and the associated costs of repair and testing. The estimate has been determined based on similar circumstances in other group companies, current costs, and the specific circumstances of the installation.
Management has reviewed the adequacy of the provision and considers it to be appropriate as at the balance sheet date. Given the nature of the provision, the actual costs incurred may differ from this estimate, and any changes in the provision will be recognised in the financial statements as they arise.

Page 21

 
M. BRAUN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023: 1) Ordinary share of £1
1
1

The shares have attached to them full voting, dividend and capital distribution (including on wind up) rights; they do not confer any rights of redemption.



16.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £36,165 (2023: £31,220). Contributions totalling £NIL (2023: £NIL) were payable to the fund at the balance sheet date.


17.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
18,781
26,588

Later than 1 year and not later than 5 years
4,497
22,484

23,278
49,072


18.


Related party transactions

In accordance with FRS102 33.1A, as a wholly owned subsidiary of M. Braun Inertgas-Systeme GmbH, which is wholly owned by INDUS Holding AG, the Company is exempt from the requirements to disclose transactions with other members of the group that are wholly owned by INDUS Holding AG.


19.


Controlling party

The Directors consider INDUS Holding AG, a company incorporated in Germany, to be the ultimate holding company and controlling party. The immediate parent company is M. Braun Inertgas-Systeme GmbH, a company incorporated in Germany. INDUS Holding AG are based in Kolner Strasse 32, D 51429, Bergisch, Gladbach, Germany.
 
Page 22