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Registered number: 02814464










PFANNENBERG (UK) LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
PFANNENBERG (UK) LIMITED
REGISTERED NUMBER: 02814464

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,283
28,839

  
23,283
28,839

Current assets
  

Stocks
 5 
265,878
137,808

Debtors: amounts falling due within one year
 6 
470,948
492,772

Cash at bank and in hand
  
654,095
844,136

  
1,390,921
1,474,716

Creditors: amounts falling due within one year
 7 
(557,997)
(534,897)

Net current assets
  
 
 
832,924
 
 
939,819

Total assets less current liabilities
  
856,207
968,658

  

Net assets
  
856,207
968,658


Capital and reserves
  

Called up share capital 
  
25,500
25,500

Profit and loss account
  
830,707
943,158

  
856,207
968,658


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 income and retained earnings 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 on 13 May 2025.




M Rosten-Edwards
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
PFANNENBERG (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Pfannenberg (UK) Limited is a Company limited by shares, incorporated in England and Wales. Its registered office is Unit 6C Aspen Court, Bessemer Way, Centurion Business Park, Rotherham, S60 1FB. The principal activity of the Company throughout the year continued to be that of the sale and distribution of electrical components.

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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
PFANNENBERG (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
straight line
Fixtures and fittings
-
15%
straight line
Computer equipment
-
33%
straight line

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 profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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.

Page 3

 
PFANNENBERG (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

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.


 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 January 2024
9,351
19,811
13,317
42,479


Additions
350
498
1,166
2,014



At 31 December 2024

9,701
20,309
14,483
44,493



Depreciation


At 1 January 2024
-
8,493
5,148
13,641


Charge for the year on owned assets
1,452
2,215
3,902
7,569



At 31 December 2024

1,452
10,708
9,050
21,210



Net book value



At 31 December 2024
8,249
9,601
5,433
23,283



At 31 December 2023
9,351
11,319
8,169
28,839

Page 4

 
PFANNENBERG (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
265,878
137,808

265,878
137,808



6.


Debtors

2024
2023
£
£


Trade debtors
388,360
457,461

Amounts owed by group undertakings
33,532
441

Other debtors
1,903
712

Prepayments and accrued income
47,153
34,158

470,948
492,772



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
52,537
31,295

Amounts owed to group undertakings
85,974
126,314

Corporation tax
64,204
23,699

Other taxation and social security
110,973
100,938

Other creditors
244,309
252,651

557,997
534,897



8.


Pension commitments

The Company operates a defined contributions 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 £13,022 (2023 - £13,022). Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 5

 
PFANNENBERG (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


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
37,519
26,833

Later than 1 year and not later than 5 years
47,668
71,502

85,187
98,335


10.


Controlling party

The ultimate parent Company is Pfannenberg Group Holding GmbH, which is incoporated in Werner-Witt-Straße 1 21035 Hamburg, Germany.


11.


Auditors' information

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

The audit report was signed on 13 May 2025 by Howard K Freeman (Senior Statutory Auditor) on behalf of Shorts.

 
Page 6