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REGISTERED NUMBER: 01938195 (England and Wales)















Audited Financial Statements for the Year Ended 31 December 2024

for

Schmidt Groupe UK Limited

Schmidt Groupe UK Limited (Registered number: 01938195)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Schmidt Groupe UK Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Ms C Leitzgen
Ms A Leitzgen





SECRETARY: Pramex International Ltd





REGISTERED OFFICE: C/O Pramex Int Ltd 8th Floor South
11 Old Jewry
London
EC2R 8DU





REGISTERED NUMBER: 01938195 (England and Wales)





AUDITORS: TC Group
Kings House
9 - 10 Haymarket
London
England
SW1Y 4BP

Schmidt Groupe UK Limited (Registered number: 01938195)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 158,253 273,679
Investments 5 - -
158,253 273,679

CURRENT ASSETS
Debtors 6 1,306,408 998,674
Cash at bank 187,967 243,688
1,494,375 1,242,362
CREDITORS
Amounts falling due within one year 7 1,561,426 1,309,350
NET CURRENT LIABILITIES (67,051 ) (66,988 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,202

206,691

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 90,202 205,691
SHAREHOLDERS' FUNDS 91,202 206,691

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





Ms A Leitzgen - Director


Schmidt Groupe UK Limited (Registered number: 01938195)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Schmidt Groupe UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

All amounts are rounded to the nearest £.


Going Concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The company is dependent upon the continued financial support of its parent company which has undertaken to financially support the company for the at least 12 months after the date of the signing of these accounts and for the foreseeable future.The company therefore continues to adopt the going concern basis in preparing its financial statements.



Jugements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are condidered to be relevant. Actuel results may differ from these estimates.

The estimates underlying assumptions are reviewed on an oingoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affect both current and future periods.

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

Schmidt Groupe UK Limited (Registered number: 01938195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured at 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 turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probably that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Fixtures and Fittings (Head office) 10%
Fixtures and Fittings (other) 5%
Office Equipment 25%

Depreciation is provided on a straight line basis.

Schmidt Groupe UK Limited (Registered number: 01938195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, prepayments, amounts owed from fellow group companies, 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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, accruals and taxes 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Schmidt Groupe UK Limited (Registered number: 01938195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

Schmidt Groupe UK Limited (Registered number: 01938195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 310,970 32,499 343,469
Disposals (93,173 ) - (93,173 )
At 31 December 2024 217,797 32,499 250,296
DEPRECIATION
At 1 January 2024 51,768 18,022 69,790
Charge for year 42,069 6,249 48,318
Eliminated on disposal (26,065 ) - (26,065 )
At 31 December 2024 67,772 24,271 92,043
NET BOOK VALUE
At 31 December 2024 150,025 8,228 158,253
At 31 December 2023 259,202 14,477 273,679

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 January 2024
and 31 December 2024 10,000
PROVISIONS
At 1 January 2024
and 31 December 2024 10,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Schmidt Groupe UK Limited (Registered number: 01938195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 515,382 636,612
Doubtful Debt (444,537 ) (520,334 )
Amounts owed by group undertakings 1,170,823 791,965
Other debtors 40,357 52,178
Accrued income and prepayments 24,383 38,253
1,306,408 998,674

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 199,519 2,549
Amounts owed to group undertakings 197,774 6,488
Tax 86,149 1,172
Social security and other taxes 34,131 24,871
VAT 360,485 669,498
Other creditors 617,691 265,770
Accruals 65,677 339,002
1,561,426 1,309,350

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Philip Clark (Senior Statutory Auditor)
for and on behalf of TC Group

10. 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.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of the immediate and ultimate controlling party Schmidt Groupe SAS, a company incorporated in France. Copies of the consolidated financial statements can be obtained from 5 rue Clemenceau, 68660 Liepvre, France.