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REGISTERED NUMBER: 01817704 (England and Wales)















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: J Harrison
Ms S M H D S Albin
S C Cooper



REGISTERED OFFICE: Company Secretariat
Faraday Road
Dorcan
Swindon
SN3 5HH



REGISTERED NUMBER: 01817704 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Margaret Turner



AUDITORS: Turner & Co
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 - 16,727

CURRENT ASSETS
Debtors 5 699,446 745,524
Cash at bank 18,892 199,666
718,338 945,190
CREDITORS
Amounts falling due within one year 6 131,212 145,250
NET CURRENT ASSETS 587,126 799,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

587,126

816,667

PROVISIONS FOR LIABILITIES - 1,330
NET ASSETS 587,126 815,337

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 537,126 765,337
SHAREHOLDERS' FUNDS 587,126 815,337

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:




S C Cooper - Director


Schaffner Limited (Registered number: 01817704)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Schaffner Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 25% on cost
Plant and machinery etc - 33% on cost and 25% on cost

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 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 17,594 43,800 61,394
Disposals (17,594 ) (43,800 ) (61,394 )
At 30 September 2024 - - -
DEPRECIATION
At 1 October 2023 10,557 34,110 44,667
Charge for year 3,518 2,012 5,530
Eliminated on disposal (14,075 ) (36,122 ) (50,197 )
At 30 September 2024 - - -
NET BOOK VALUE
At 30 September 2024 - - -
At 30 September 2023 7,037 9,690 16,727

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 83,808 129,694
Other debtors 15,638 15,830
99,446 145,524

Amounts falling due after more than one year:
Amounts owed by group undertakings 600,000 600,000

Aggregate amounts 699,446 745,524

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.9.24 30.9.23
£    £   
Trade creditors (4,872 ) (1,179 )
Taxation and social security (21,434 ) 15,284
Other creditors 157,518 131,145
131,212 145,250

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.

Margaret Turner (Senior Statutory Auditor)
for and on behalf of Turner & Co

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.