| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| Schaffner Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| Schaffner Limited |
| Schaffner Limited (Registered number: 01817704) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Schaffner Limited |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Registered Auditors |
| Chartered Accountants |
| 10a White Hart Parade |
| London Road |
| Blackwater |
| Camberley |
| Surrey |
| GU17 9AD |
| Schaffner Limited (Registered number: 01817704) |
| Balance Sheet |
| 30 September 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Schaffner Limited (Registered number: 01817704) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Schaffner Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of commission received and expenses recharged, exclusive of Value Added Tax and trade discounts. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Schaffner Limited (Registered number: 01817704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Share- based payments |
| Certain employees are entitled to participate in restricted share plans operated by Schaffner Holding AG. The directors have considered Financial Reporting Standard number 20 and have concluded that the expense and any resulting disclosure relating to these options would not be material to these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| Schaffner Limited (Registered number: 01817704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 5. | DEBTORS |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Trade creditors | ( |
) | ( |
) |
| Taxation and social security | ( |
) |
| Other creditors |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| We draw your attention to Note 10 to the financial statements which explains that the assets and trade of the company have been sold to Tyco Electronics UK Ltd on 29 March 2025 and the company will therefore not be a going concern for a period of at least twelve months from when the financial statements are authorised for issue. The directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in note 10. Our opinion is not modified in respect of this matter. |
| for and on behalf of |
| Schaffner Limited (Registered number: 01817704) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 8. | PENSION COMMITMENTS |
| The company operates a defined contribution 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 amounted to £62,684 (2023 £48,638). Contributions totalling £9,895 (2023: £9,570) were payable to the fund at the balance sheet date and are included in other creditors. |
| 9. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 10. | POST BALANCE SHEET EVENTS |
| As of 1 January 2025, all employees of Schaffner Limited were transferred to Tyco Electronics UK Ltd, a subsidiary of Tyco Electronics UK Holdings Ltd. |
| On 29 March 2025, the company sold its trade and assets to Tyco Electronics UK Ltd. The consideration was the assumption by the company of a liability to Tyco Electronics Ltd, determined by the sale and purchase agreement. Assets were transferred at net book value. |
| 11. | ULTIMATE CONTROLLING PARTY |
| Previously, the company's ultimate parent was Schaffner Holding AG, a company incorporated in Germany. On 25th September 2024 the company's parent company became Tyco Electronics UK Holdings Ltd, a company registered in the UK. |
| The company's ultimate parent company is TE Connectivity Public Limited Company, incorporated in Ireland. |
| The most senior parent entity producing publicly available financial statements is TE Connectivity Public Limited Company. These financial statements are available upon request from Company Secretary, Parkmore Business Park West, Parkmore, Ballybrit, Galway, H91VN2T, Ireland. |