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Röwer & Rüb (UK) Ltd

Annual Report and Financial Statements
Year Ended 31 December 2023

Registration number: 11952254

 

Röwer & Rüb (UK) Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Röwer & Rüb (UK) Ltd

Balance Sheet

31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,366

11,365

Current assets

 

Stocks

5

4,000

-

Debtors

6

265,441

124,277

Cash at bank and in hand

 

60,548

207,831

 

329,989

332,108

Creditors: Amounts falling due within one year

7

(402,175)

(409,549)

Net current liabilities

 

(72,186)

(77,441)

Total assets less current liabilities

 

(59,820)

(66,076)

Creditors: Amounts falling due after more than one year

7

(13,427)

(24,167)

Net liabilities

 

(73,247)

(90,243)

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

(73,347)

(90,343)

Shareholders' deficit

 

(73,247)

(90,243)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................
Mr J A Bennett
Director

Company Registration Number: 11952254

 

Röwer & Rüb (UK) Ltd

Notes to the Financial Statements

Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Towngate House
2-8 Parkstone Road
Poole
Dorset
BH15 2PW
England

The principal place of business is:
Unique House
Stanley Green Road
Poole
BH15 3AH
England

These financial statements were authorised for issue by the Board on 20 March 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, rounded to the nearest whole pound.

Going concern

The company has net current liabilities of £72,186 at year end which includes £101,770 owed to Röwer & Rüb GmbH. The directors consider that with the support of Röwer & Rüb GmbH there is sufficient working capital to meet the core overhead requirements of the business, along with scheduled borrowing repayments, for a period of at least twelve months from the date of approval of these financial statements. Following this review, based on the information available to date the directors are satisfied that the company has sufficient cash balances to meet these requirements and, accordingly, the directors continue to adopt the going concern basis of presentation.

 

Röwer & Rüb (UK) Ltd

Notes to the Financial Statements

Year Ended 31 December 2023

Revenue recognition

Turnover represents the amounts chargeable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns and discounts.

Turnover with respect to the sale of goods is recognised at the point in which the goods arrive at customer premises. Turnover in relation to the provision of services, provided by subcontractors, is recognised by reference to the stage of completion. Stage of completion is determined by reviewing costs incurred to date as a percentage of total costs to complete the contract.

The amounts not invoiced at the year end are included in accrued income. Products and services that are billed in advance are included in deferred income.

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.

Tax

The current corporation 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

he cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

Straight line over 4 years

Office equipment

Straight line over 4 years

Other property, plant and equipment

20% reducing balance basis

 

Röwer & Rüb (UK) Ltd

Notes to the Financial Statements

Year Ended 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 stocks 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.

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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Röwer & Rüb (UK) Ltd

Notes to the Financial Statements

Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

3,203

15,474

18,677

Additions

225

3,731

3,956

At 31 December 2023

3,428

19,205

22,633

Depreciation

At 1 January 2023

1,418

5,894

7,312

Charge for the year

741

2,214

2,955

At 31 December 2023

2,159

8,108

10,267

Carrying amount

At 31 December 2023

1,269

11,097

12,366

At 31 December 2022

1,785

9,580

11,365

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

4,000

-

6

Debtors

2023
£

2022
£

Trade debtors

131,532

91,012

Prepayments

120,385

8,806

Other debtors

13,524

24,459

265,441

124,277

 

Röwer & Rüb (UK) Ltd

Notes to the Financial Statements

Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Trade creditors

 

24,936

33,848

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

11

101,770

245,604

Taxation and social security

 

99,767

82,794

Accruals and deferred income

 

164,121

27,420

Other creditors

 

1,581

9,883

 

402,175

409,549

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

13,427

24,167

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

13,427

24,167

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

 

Röwer & Rüb (UK) Ltd

Notes to the Financial Statements

Year Ended 31 December 2023

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

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 £1,138 (2022 - £948). This relates to the lease of a vehicle being expensed under car hire costs.

11

Related party transactions

Summary of transactions with parent

Purchases were made totalling £886,004 (2022: £717,225) from Röwer & Rüb GmbH. Included in trade creditors at year end was £141,316 (2022: £321,187).

Sales were made totalling £120,486 (2022 - £16,901) to Röwer & Rüb GmbH. Included in trade debtors due at year end was £50,296 (2022 - £86,333).

Dividends declared to the parent in the year were £nil (2022 - £nil). Included in creditors is a balance of £10,750 (2022 - £10,750). The total amount due to the parent is £101,770 (2022: £245,604).

 

12

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Daniel Tout FCA, who signed for and on behalf of PKF Francis Clark on 24 March 2025.

13

Parent and ultimate parent undertaking

The company's immediate parent is Röwer & Rüb GmbH, incorporated in Germany.

 The ultimate parent is Niantic Holding GmbH, incorporated in Germany.

 The ultimate controlling party is Dr Walther Andreas Jacobs.