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Registrar

Registration number: 04216079

Trials Equipment (UK) Ltd

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Trials Equipment (UK) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Trials Equipment (UK) Ltd

Company Information

Directors

C Mauhart

G Rowe

C Schiehauer

Registered office

Hudson's Hill Hedingham Road
Wethersfield
Braintree
Essex
CM7 4EH

Bankers

NatWest
Bishops Stortford
7 North Street
Bishops Stortford
Hertfordshire
CM23 2TJ

Auditors

Lambert Chapman LLP
Chartered Accountants and Registered Statutory Auditors
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Trials Equipment (UK) Ltd

(Registration number: 04216079)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

127,293

494,721

Other financial assets

5

109,872

82,745

 

237,165

577,466

Current assets

 

Stocks

6

1,011,028

862,333

Debtors

7

549,760

1,189,299

Cash at bank and in hand

 

25,124

28,773

 

1,585,912

2,080,405

Creditors: Amounts falling due within one year

8

(473,615)

(1,005,346)

Net current assets

 

1,112,297

1,075,059

Total assets less current liabilities

 

1,349,462

1,652,525

Provisions for liabilities

(20,379)

(25,998)

Net assets

 

1,329,083

1,626,527

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,328,983

1,626,427

Shareholders' funds

 

1,329,083

1,626,527

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 February 2025 and signed on its behalf by:
 


 

C Mauhart
Director


 

G Rowe
Director

 

Trials Equipment (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and principal place of business is: Hudson's Hill Hedingham Road, Wethersfield, Braintree, Essex, CM7 4EH, United Kingdom.

These financial statements were authorised for issue by the Board on 17 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Summary of disclosure exemptions

The company has taken the following disclosure exemptions in these financial statements:

- Related party transaction disclosures in accordance with Section 33.1A of FRS 102.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 17 February 2025 was Nicholas Forsyth FCA, who signed for and on behalf of Lambert Chapman LLP.

Reclassification of comparative amounts

Foreign exchange losses totalling £2,002 have been reclassified from interest payable and similar expenses to turnover in the 2023 year. The directors consider the reallocation give a more accurate representation of the company's financial performance.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of Agricultural Equipment in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Trials Equipment (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

3% Straight line

Plant and machinery

20% Straight line

Motor vehicles

20% & 25% Straight line

Office equipment

10%, 20% & 33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Contractual holiday pay that has been accrued but not used by employees is recognised as an accrual at the balance sheet date calculated using employee salaries and unused holiday days including estimates of other employer costs such as National Insurance and pension contributions.

 

Trials Equipment (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases in which substantially all the risks and rewards of ownership are transferred to the lessee are classified as finance leases. Finance leases are separated into asset and financing components and treated separately in the financial statements.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Holiday pay accrual

The holiday year for the company ends on 31 December.

Any unused holiday can only be carried forward at the discretion of the directors. The cost of any unused entitlement is recognised in the period in which the employee's services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 18).

 

Trials Equipment (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Improvements to property
£

Office equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 January 2024

407,578

30,712

263,962

118,027

820,279

Additions

-

2,473

-

29,470

31,943

Disposals

(407,578)

-

-

(2,020)

(409,598)

At 31 December 2024

-

33,185

263,962

145,477

442,624

Depreciation

At 1 January 2024

69,906

22,276

142,599

90,777

325,558

Charge for the year

3,088

4,420

49,664

7,615

64,787

Eliminated on disposal

(72,994)

-

-

(2,020)

(75,014)

At 31 December 2024

-

26,696

192,263

96,372

315,331

Carrying amount

At 31 December 2024

-

6,489

71,699

49,105

127,293

At 31 December 2023

337,672

8,436

121,363

27,250

494,721

 

Trials Equipment (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Other financial assets (current and non-current)

Finance lease assets
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

82,745

82,745

Additions

111,126

111,126

Released

(83,999)

(83,999)

At 31 December 2024

109,872

109,872

Carrying amount

At 31 December 2024

109,872

109,872

6

Stocks

2024
£

2023
£

Work in progress

363,026

118,857

Stocks

648,002

743,476

1,011,028

862,333

7

Debtors

2024
£

2023
£

Trade debtors

368,381

1,123,482

Amounts owed by group undertakings and undertakings in which the company has a participating interest

445

-

Other debtors

169,754

35,415

Prepayments

11,180

30,402

549,760

1,189,299

 

Trials Equipment (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

49,200

199,220

Amounts owed to group undertakings and undertakings in which the company has a participating interest

213,039

363,346

Taxation and social security

125,499

301,768

Other creditors

64,447

4,306

Accruals and deferred income

21,430

136,706

473,615

1,005,346

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

On 4 September 2023, the total issued share capital of 100 Ordinary £1 shares were transferred from Wintersteiger AG to Wintersteiger Seedmech GmbH, being the immediate parent company.

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £234,000 (2023 - £288,000).

11

Parent and ultimate parent undertaking

The company's immediate parent is Wintersteiger Seedmech Gmbh, incorporated in Austria.

 The ultimate parent is Wintersteiger Holding AG, incorporated in Switzerland.

  These financial statements are available upon request from Wintersteigerstrasse 1, Ried im Innkreis, 4910 Austria.