| REGISTERED NUMBER: |
| Strategic Report, Report of the Directors and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| WEIG-KARTON UK LIMITED |
| REGISTERED NUMBER: |
| Strategic Report, Report of the Directors and |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| WEIG-KARTON UK LIMITED |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 3 |
| Report of the Independent Auditors | 5 |
| Statement of Comprehensive Income | 7 |
| Balance Sheet | 8 |
| Statement of Changes in Equity | 9 |
| Cash Flow Statement | 10 |
| Notes to the Cash Flow Statement | 11 |
| Notes to the Financial Statements | 12 |
| WEIG-KARTON UK LIMITED |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants & Registered Auditors |
| Suite 1, Unit 2 |
| Stansted Courtyard |
| Parsonage Road |
| Takeley |
| Essex |
| CM22 6PU |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Strategic Report |
| for the Year Ended 31 December 2024 |
| The directors present their strategic report for the year ended 31 December 2024. |
| REVIEW OF BUSINESS |
| The results for the year and the financial position at the year end were considered satisfactory by the directors. Due to the lack of business opportunity available, it was agreed on 31 December 2016, that the company was to cease its operations and all UK business was to be managed directly by the parent company. The company commenced trading again as of 1 January 2021 due to Brexit as increased business opportunities arose. During 2024 no direct supplies were made to the UK customers and its income solely came from work carried out for the parent company. |
| The directors use a number of financial measures to monitor the performance of the company. The key financial measures are turnover, profit before tax and net assets and the figures for all these measures can be readily ascertained from the financial statements. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The principal risks and uncertainties facing the company are the economic climate domestically and overseas, negative impacts on general business confidence arising from political or other external events and fluctuations in foreign currency exchange rates. |
| Additional factors fundamental to the ongoing development of the company are the normal risks facing any such business, namely the continued stability of existing relationships with major clients, development and retention of new clients, the availability of technical resources throughout the various market places and the retention of existing, and recruitment of additional, key personnel to manage and develop the business. |
| STRATEGIC RISK MANAGEMENT |
| The directors of the company continually monitor the risks and remain vigilant to identify new risks when they arise. The directors have systems in place to manage risk, taking advice and responding as necessary |
| BUSINESS ENVIRONMENT AND PERFORMANCE |
| Despite the economic downturn, demand for the company's products remains high and is expected to remain high. |
| ON BEHALF OF THE BOARD: |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Report of the Directors |
| for the Year Ended 31 December 2024 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2024. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of the import and sale of packaging products. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 31 December 2024. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report. |
| FINANCIAL INSTRUMENTS |
| The company uses a variety of financial instruments including cash, equity investments and other items, such as trade debtors and trade creditors, which arise directly from its operation. The purpose of these financial instruments is to provide working capital for the company's operations. The directors consider that the main risks arising from the company's financial instruments are liquidity risk. The directors set and review policies for managing this risk and they have remained unchanged from previous years. The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Strategic Report, the Report of the Directors 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: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| 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. |
| The directors are required to state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Report of the Directors |
| for the Year Ended 31 December 2024 |
| AUDITORS |
| The auditors, Smithfield Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| Weig-Karton UK Limited |
| Opinion |
| We have audited the financial statements of Weig-Karton UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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: |
| - | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| 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. |
| In connection with our audit of the financial statements, 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 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. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| 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 Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Report of the Independent Auditors to the Members of |
| Weig-Karton UK Limited |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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. |
| Auditors' 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 a Report of the Auditors 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: |
| There is always a risk that fraud or irregularity would not be detected in an audit, but we believe that this would take a significant collusion that would be unlikely to go undetected by management or the audit team. The compliance with import requirements, and company and tax law is assessed during audit. The audit team is always vigilant to look out for money laundering or other unexpected financial activity. For this reason, we believe that our procedures are suitable. |
| As part of an audit in accordance with ISAs (UK), the auditor exercises professional judgement and maintains professional scepticism throughout the audit. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| 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 a Report of the Auditors 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. |
| for and on behalf of |
| Chartered Accountants & Registered Auditors |
| Suite 1, Unit 2 |
| Stansted Courtyard |
| Parsonage Road |
| Takeley |
| Essex |
| CM22 6PU |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Statement of Comprehensive Income |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses | ( |
) | ( |
) |
| (9,725 | ) | (9,301 | ) |
| Other operating income | 3 |
| OPERATING LOSS and |
| LOSS BEFORE TAXATION | ( |
) | ( |
) |
| Tax on loss | 6 |
| LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE LOSS FOR THE YEAR |
( |
) |
( |
) |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium | 10 |
| Capital redemption reserve | 10 | ( |
) | ( |
) |
| Retained earnings | 10 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Statement of Changes in Equity |
| for the Year Ended 31 December 2024 |
| Called up | Capital |
| share | Retained | Share | redemption | Total |
| capital | earnings | premium | reserve | equity |
| £ | £ | £ | £ | £ |
| Balance at 1 January 2023 | ( |
) | ( |
) |
| Changes in equity |
| Total comprehensive loss | - | ( |
) | - | ( |
) |
| Balance at 31 December 2023 | ( |
) | ( |
) |
| Changes in equity |
| Total comprehensive loss | - | ( |
) | - | ( |
) |
| Balance at 31 December 2024 | ( |
) | ( |
) | ( |
) |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Cash Flow Statement |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | ( |
) |
| Net cash from operating activities | ( |
) |
| (Decrease)/increase in cash and cash equivalents | ( |
) |
| Cash and cash equivalents at beginning of year |
2 |
10,602 |
| Cash and cash equivalents at end of year | 2 | 5,907 | 10,834 |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Notes to the Cash Flow Statement |
| for the Year Ended 31 December 2024 |
| 1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Loss before taxation | ( |
) | ( |
) |
| (Increase)/decrease in trade and other debtors | ( |
) |
| Increase in trade and other creditors |
| Cash generated from operations | ( |
) |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 December 2024 |
| 31.12.24 | 1.1.24 |
| £ | £ |
| Cash and cash equivalents | 5,907 | 10,834 |
| Year ended 31 December 2023 |
| 31.12.23 | 1.1.23 |
| £ | £ |
| Cash and cash equivalents | 10,834 | 10,602 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.1.24 | Cash flow | At 31.12.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 10,834 | (4,927 | ) | 5,907 |
| 10,834 | ( |
) | 5,907 |
| Total | 10,834 | (4,927 | ) | 5,907 |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Weig-Karton UK Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted, as the effects of discounting are inmaterial to the accounts. |
| 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. |
| 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. |
| Going concern |
| The company has adequate resources to settle all its obligations and has the support of its parent company Moritz J Weig GMBH & Co. KG, which will enable it to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements. |
| 3. | OTHER OPERATING INCOME |
| 2024 | 2023 |
| £ | £ |
| Market Research |
| 4. | EMPLOYEES AND DIRECTORS |
| There were no employees and no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023. |
| WEIG-KARTON UK LIMITED (REGISTERED NUMBER: 00390660) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | OPERATING LOSS |
| The operating loss is stated after charging: |
| 2024 | 2023 |
| £ | £ |
| Auditors' remuneration |
| 6. | TAXATION |
| No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023 due to loss relief. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| VAT |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Accruals and deferred income |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 8,613 | 8,613 |
| 10. | RESERVES |
| Capital |
| Retained | Share | redemption |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2024 | ( |
) | ( |
) | (5,739 | ) |
| Deficit for the year | ( |
) | ( |
) |
| At 31 December 2024 | ( |
) | ( |
) | (9,964 | ) |
| 11. | ULTIMATE PARENT COMPANY |
| The controlling party is Moritz J Weig GmBH & Co. KG, a company incorporated in Germany by virtue of its shareholding of 100% of the ordinary share capital of £1.00 each. |
| The parent company, Moritz J Weig GmBH & Co.KG, draws up consolidated accounts. |
| The registered office of the parent company is:- |
| Moritz J Weig GmBH & Co.KG |
| Polcher Strasse 113 |
| Mayen 56727 |
| Germany |