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Registered number: 13023698









Intermatic UK Limited









Financial statements

Information for filing with the registrar

For the year ended 31 December 2024

 
Intermatic UK Limited
Registered number: 13023698

Balance Sheet
As at 31 December 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
20,089
18,522

Cash at bank and in hand
 5 
11,587
6,213

  
31,676
24,735

Creditors: amounts falling due within one year
 6 
(10,121)
(8,718)

Net current assets
  
 
 
21,555
 
 
16,017

Total assets less current liabilities
  
21,555
16,017

  

Net assets
  
21,555
16,017


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
21,554
16,016

  
21,555
16,017


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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




A S Meister
Director

Date: 28 February 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Intermatic UK Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

1.


General information

Intermatic UK Limited is a private company limited by shares and incorporated in England and Wales, registered number 13023698. The address of the company's registered office is 3 Stockport Exchange, Stockport, Cheshire, SK1 3GG.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

Taxation

Tax is recognised in profit or loss 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.

Page 2

 
Intermatic UK Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

2.Accounting policies (continued)

 
2.6

Debtors

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

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 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.

 
2.8

Creditors

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

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
Financial liabilities
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. 


 

Page 3

 
Intermatic UK Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
Intermatic UK Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2024

4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
20,089
18,522



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
11,587
6,213



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
1,300
316

Accruals and deferred income
8,821
8,402

10,121
8,718



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 -1) Ordinary share of £1.00
1
1



8.


Controlling party

The company's ultimate parent undertaking is Intermatic Incorporated, a company incorporated in the United States of America and the registered office is 1950 Innovation Way, Suite 300 Libertyville, IL 60048 United States.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 3 March 2025 by Chris Stewardson (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

 
Page 5