Company registration number 03805576 (England and Wales)
SCHEIDT & BACHMANN (UK) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
SCHEIDT & BACHMANN (UK) LIMITED
COMPANY INFORMATION
Directors
Mr J Heilingbrunner
Mr K E Cameron
Mr A Grix
Mr A Raeschmeier
Mr M Bemba
(Appointed 1 January 2025)
Secretary
Mr K E Cameron
Company number
03805576
Registered office
Unit 7 Silverglade Business Park
Leatherhead Road
Chessington
Surrey
KT9 2QL
Auditor
Perrys Audit Limited
Chartered Accountants
4th Floor
399-401 Strand
London
United Kingdom
WC2R 0LT
SCHEIDT & BACHMANN (UK) LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3
Directors' responsibilities statement
4
Profit and loss account
5
Statement of comprehensive income
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 18
Independent auditor's report
19 - 21
SCHEIDT & BACHMANN (UK) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

The company's principal activity during the year continued to be that of the supply, installation and maintenance of automated revenue systems.

Principal risks and uncertainties

The usual principal risks are the continuing economic conditions and the competitive markets that the company continues to operate within but remains confident that with its history, products and high quality service it is well places to maintain strong results.

The exit of the UK from the European Single Market was a challenging period with exchange rate uncertainty and additional bureaucracy resulting. The company has been able to manage these issues and is confident the turbulence from this is now in the past.

Predictions regarding an economic downturn in the UK and recent, ongoing high interest rates and change in Government may have an impact on the company's position and resources in the coming year.

 

The directors consider that the company is in a strong position to deal with the above and has the structure to take any necessary decisions quickly to protect itself, the workforce and clients.

 

Exposure to liquidity, credit, price and cashflow risk

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The company aims to mitigate liquidity risk by managing cash generation by its operations and by applying consistent procedures for collecting debtors as they fall due.

 

Cashflow risk is the risk of exposure to variability in cashflows that is attributable to a particular risk associated with a recognised asset or liability, such as future interest payments on a variable rate debt. The company manages this risk by ensuring that there are sufficient ongoing cash reserves to meet obligations.

 

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The key credit risk is potential non payment by a customer. However, historically bad debts have been low and the company will continue to maintain its strict internal controls to minimise such risk.

Development and performance

We have continued to see a return to higher levels of capital expenditure by our Customers and this has resulted in higher turnover and we expect this to continue in future years. The company continues to assess its cost base and structure to ensure it is well positioned for future growth.

Key Performance Indicators

 

2024

2023

2022

Sales revenue

£19.5 million

£17.8 million

£16.5 million

Gross profit

£12.7 million

£12.2 million

£ 10.9 million

Gross profit margin

65.26%

68.17%

66.38%

Net profit before tax

£1,213,085

£ 1,147,844

£ 1,013,092

 

 

 

 

SCHEIDT & BACHMANN (UK) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

On behalf of the board

Mr K E Cameron
Director
25 March 2025
SCHEIDT & BACHMANN (UK) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

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

Principal activities

The principal activity of the company in the year under review was that of supply, installation and maintenance of automated revenue systems.

Results and dividends

The results for the year are set out on page 5.

Ordinary dividends were paid amounting to £750,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr J Heilingbrunner
Mr M Kammler
(Resigned 31 December 2024)
Mr K E Cameron
Mr A Grix
Mr A Raeschmeier
Mr M Bemba
(Appointed 1 January 2025)
Future developments

The company is confident the quality of its products and services will allow it to achieve further growth in its current markets whilst using these strengths to explore new markets.

Auditor

In accordance with the company's articles, a resolution proposing that Perrys Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr K E Cameron
Director
25 March 2025
SCHEIDT & BACHMANN (UK) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

The directors are responsible for preparing the annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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:

 

 

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They 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.

SCHEIDT & BACHMANN (UK) LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2024
2023
Notes
£
£
Turnover
2
19,512,328
17,843,449
Cost of sales
(6,778,985)
(5,678,967)
Gross profit
12,733,343
12,164,482
Administrative expenses
(11,530,436)
(11,035,880)
Operating profit
3
1,202,907
1,128,602
Interest receivable and similar income
7
22,591
28,058
Interest payable and similar expenses
8
(12,413)
(8,816)
Profit before taxation
1,213,085
1,147,844
Tax on profit
9
(346,875)
(130,778)
Profit for the financial year
866,210
1,017,066

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SCHEIDT & BACHMANN (UK) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2024
2023
£
£
Profit for the year
866,210
1,017,066
Other comprehensive income
-
-
Total comprehensive income for the year
866,210
1,017,066
SCHEIDT & BACHMANN (UK) LIMITED (REGISTERED NUMBER: 03805576)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
166,551
178,118
Current assets
Stocks
12
2,391,352
2,660,845
Debtors
13
3,652,574
5,216,119
Cash at bank and in hand
2,698,206
2,034,572
8,742,132
9,911,536
Creditors: amounts falling due within one year
14
(6,781,396)
(8,075,431)
Net current assets
1,960,736
1,836,105
Total assets less current liabilities
2,127,287
2,014,223
Provisions for liabilities
Deferred tax liability
15
27,056
30,202
(27,056)
(30,202)
Net assets
2,100,231
1,984,021
Capital and reserves
Called up share capital
17
10,000
10,000
Profit and loss reserves
2,090,231
1,974,021
Total equity
2,100,231
1,984,021

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Mr K E Cameron
Director
SCHEIDT & BACHMANN (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
10,000
2,456,955
2,466,955
Year ended 31 December 2023:
Profit and total comprehensive income
-
1,017,066
1,017,066
Dividends
10
-
(1,500,000)
(1,500,000)
Balance at 31 December 2023
10,000
1,974,021
1,984,021
Year ended 31 December 2024:
Profit and total comprehensive income
-
866,210
866,210
Dividends
10
-
(750,000)
(750,000)
Balance at 31 December 2024
10,000
2,090,231
2,100,231
SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
1
Accounting policies
Company information

Scheidt & Bachmann (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Silverglade Business Park, Leatherhead Road, Chessington, Surrey, KT9 2QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from presenting a statement of cash flow and related notes and disclosures.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue represents income receivable for the performance of services and for the supply of goods. For supply and installation activities, turnover is recognised when the supply and installation is completed. For maintenance activities, turnover is accrued and recognised evenly over the period of the maintenance contract.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
over period of lease
Plant and equipment
20% on cost
Fixtures and fittings
20% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
1.5
Stocks

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

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Turnover
2024
2023
£
£
Turnover analysed by class of business
Supply, installation and maintenance of automated revenue systems
19,512,328
17,843,449
SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
3
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange losses
10,040
8,065
Depreciation of owned tangible fixed assets
91,960
73,227
Operating lease charges
329,634
285,647
4
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
20,120
19,160
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Management, administration and sales
50
50
Engineers
85
82
Total
135
132

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
7,085,514
6,324,469
Social security costs
733,545
752,167
Pension costs
387,759
427,946
8,206,818
7,504,582
SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
374,277
345,389
Company pension contributions to defined contribution schemes
30,064
23,064
404,341
368,453

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
205,814
196,484
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
20,351
18,917
Other interest income
2,240
9,141
Total income
22,591
28,058
8
Interest payable and similar expenses
2024
2023
£
£
Other interest
12,413
8,816
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
340,378
292,359
Adjustments in respect of prior periods
9,643
(162,379)
Total current tax
350,021
129,980
SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Taxation
2024
2023
£
£
(Continued)
- 15 -
Deferred tax
Origination and reversal of timing differences
(3,146)
798
Total tax charge
346,875
130,778
2024
2023
£
£
Profit before taxation
1,213,085
1,147,844
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
303,271
269,743
Tax effect of expenses that are not deductible in determining taxable profit
33,320
23,085
Permanent capital allowances in excess of depreciation
3,787
(725)
Under/(over) provided in prior years
9,643
(162,379)
Deferred tax adjustments in respect of prior years
(3,146)
798
Tax at marginal rate
-
0
256
Taxation charge for the year
346,875
130,778
10
Dividends
2024
2023
£
£
Interim paid
750,000
1,500,000
SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
11
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2024
452,542
22,204
96,469
486,098
1,057,313
Additions
14,167
582
4,999
60,645
80,393
Disposals
-
0
-
0
-
0
(48,197)
(48,197)
At 31 December 2024
466,709
22,786
101,468
498,546
1,089,509
Depreciation and impairment
At 1 January 2024
376,688
18,775
69,712
414,020
879,195
Depreciation charged in the year
26,348
1,334
10,412
53,866
91,960
Eliminated in respect of disposals
-
0
-
0
-
0
(48,197)
(48,197)
At 31 December 2024
403,036
20,109
80,124
419,689
922,958
Carrying amount
At 31 December 2024
63,673
2,677
21,344
78,857
166,551
At 31 December 2023
75,854
3,429
26,757
72,078
178,118
12
Stocks
2024
2023
£
£
Raw materials and consumables
2,377,648
2,638,424
Work in progress
13,704
22,421
2,391,352
2,660,845
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,187,788
4,377,279
Corporation tax recoverable
545,738
366,746
Other debtors
20,673
3,809
Prepayments and accrued income
898,375
468,285
3,652,574
5,216,119
SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
14
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
286,490
262,132
Amounts owed to group undertakings
3,179,534
4,359,982
Taxation and social security
607,065
662,506
Other creditors
230,798
370,628
Accruals and deferred income
2,477,509
2,420,183
6,781,396
8,075,431
15
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
27,056
30,202
2024
Movements in the year:
£
Liability at 1 January 2024
30,202
Credit to profit or loss
(3,146)
Liability at 31 December 2024
27,056
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
387,759
427,946

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

SCHEIDT & BACHMANN (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 18 -
17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
18
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
641,436
625,903
Between two and five years
625,846
1,007,486
1,267,282
1,633,389
19
Related party transactions

Scheidt & Bachmann (UK) Limited accounts are included as part of the group company financial statements and therefore this company has taken advantage of the exemptions conferred by Financial Reporting Standard 102 from the requirement to make disclosures concerning related party transactions with other group companies.

20
Ultimate controlling party

The ultimate parent company and controlling company is Scheidt & Bachmann GmbH, a company registered in Germany. The group company accounts can be viewed at the offices of the ultimate parent company which is 132 Breite Strasse, 41238, Mönchengladbach, Germany.

SCHEIDT & BACHMANN (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SCHEIDT & BACHMANN (UK) LIMITED
- 19 -
Opinion

We have audited the financial statements of Scheidt & Bachmann (UK) Limited (the 'company') for the year ended 31 December 2024 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The 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:

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 UK, including the FRC’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.

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 report. Our 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.

SCHEIDT & BACHMANN (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SCHEIDT & BACHMANN (UK) LIMITED (CONTINUED)
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Opinions on other matters prescribed by the Companies Act 2006

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

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 strategic report or 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:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

SCHEIDT & BACHMANN (UK) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SCHEIDT & BACHMANN (UK) LIMITED (CONTINUED)
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We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud.

 

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

 

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

 

We did not identify any key audit matters relating to irregularities, including fraud. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 2006. Our 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.

Declan McCusker
Senior Statutory Auditor
For and on behalf of Perrys Audit Limited
Chartered Accountants
Statutory Auditor
4th Floor
399-401 Strand
London
United Kingdom
WC2R 0LT
7 April 2025
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