Company registration number 04266620 (England and Wales)
GERSTAECKER UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GERSTAECKER UK LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
GERSTAECKER UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
224,075
249,056
Current assets
Stocks
288,306
277,019
Debtors falling due after more than one year
5
220,861
239,532
Debtors falling due within one year
5
140,673
172,544
Cash at bank and in hand
143,713
189,148
793,553
878,243
Creditors: amounts falling due within one year
6
(2,028,018)
(1,900,744)
Net current liabilities
(1,234,465)
(1,022,501)
Net liabilities
(1,010,390)
(773,445)
Capital and reserves
Called up share capital
7
1,800,000
1,800,000
Profit and loss reserves
(2,810,390)
(2,573,445)
Total equity
(1,010,390)
(773,445)

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Mr C A Geyer
Director
Company registration number 04266620 (England and Wales)
GERSTAECKER UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
1,800,000
(2,302,005)
(502,005)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(271,440)
(271,440)
Balance at 31 December 2023
1,800,000
(2,573,445)
(773,445)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(236,945)
(236,945)
Balance at 31 December 2024
1,800,000
(2,810,390)
(1,010,390)
GERSTAECKER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Gerstaecker UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Greatart Head Office, 41-49 Kingsland Road, London, E2 8AG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

In drawing their conclusion on the appropriateness of the going concern assumption, the directors have been mindful of the company having net current liabilities of £1,234,465 (2023: £1,022,501), net liabilities of £1,010,390 (2023: £773,445) and that it generated losses for the financial year of £236,945 (true 2 023: £271,440).

Within the net current liabilities noted above are significant intercompany balances of £1,730,968 due to Johannes Gerstacker Verlag GmbH which are repayable on demand. The parent company, Johannes Gerstacker Verlag GmbH, has confirmed to the directors it will not seek to recall the loan until the company has sufficient cash reserves to repay it.

In addition, Johannes Gerstacker Verlag GmbH, has confirmed its intention to provide sufficient financial support to the company in order to meet its liabilities for at least 12 months from the date of signing these financial statements.

Taking the above into consideration, the directors have a reasonable expectation that the company has adequate resources and support to continue in operational existence for the foreseeable future and therefore, they continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

GERSTAECKER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Remaining term of lease
Fixtures, fittings and equipment
3-15 years straight line
Computer equipment and software
3-5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials valued using the weighted average cost method, and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 and 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.

GERSTAECKER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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. A m ounts 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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
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 stock or 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.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

GERSTAECKER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2
Judgements 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 considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing 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 affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Stock valuation and obsolescence

Stocks are valued at the lower of cost and net realisable value. Cost is based on the purchase cost using a weighted average cost method. Estimated selling price less costs to complete and sell, includes, where necessary, provisions for slow moving and obsolete stocks. Calculation of these provisions requires estimates to be made, which include the forecasted customer demand, competitive and economic environment as well as the ageing of stock. These variables are monitored by the directors and a provision is in place to mitigate the relevant risk.

Useful economic lives of non-current assets

The useful economic lives of non-current assets have been derived from the judgement of the directors, using their best estimate of the write-down period.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
19
21
GERSTAECKER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
124,688
559,939
684,627
Additions
-
0
29,006
29,006
At 31 December 2024
124,688
588,945
713,633
Depreciation and impairment
At 1 January 2024
49,961
385,610
435,571
Depreciation charged in the year
10,391
43,596
53,987
At 31 December 2024
60,352
429,206
489,558
Carrying amount
At 31 December 2024
64,336
159,739
224,075
At 31 December 2023
74,727
174,329
249,056
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
62,283
74,001
Other debtors
78,390
98,543
140,673
172,544
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
220,861
239,532
Total debtors
361,534
412,076
GERSTAECKER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
55,126
62,536
Amounts owed to group undertakings
1,730,969
1,565,325
Taxation and social security
80,964
79,830
Other creditors
160,959
193,053
2,028,018
1,900,744
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1,800,000
1,800,000
1,800,000
1,800,000

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified

Opinion

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.

Senior Statutory Auditor:
Samantha Daniels
Statutory Auditor:
Shaw Gibbs (Audit) Limited
Date of audit report:
9 September 2025
9
Events after the reporting date

In April 2025 there was a £300,000 loan agreed and provided from the parent company in order to renovate the basement of the Great Art UK Shop. The first £200,000 was received on the 4th April 2025, and the remaining £100,000 was received on the 18th June 2025. Renovations have now begun within the shop to repair the basement.

The loan is subject to an annual interest rate of 2% above Euribor. Interest will be calculated quarterly using the graduated interest method.

GERSTAECKER UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
10
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
1,922,010
2,054,806

The parent company Johannes Gerstäcker Verlag Gmbh has provided a guarantee in respect of the lease.

11
Related party transactions

The company has taken advantage of the exemption provided by FRS102 Section 33, not to disclose transactions and outstanding balances with Gerstäcker Management GmbH & Co. KG and its 100% directly and indirectly controlled subsidiary undertakings.

12
Parent company

The company is a wholly owned subsidiary of Johannes Gerstäcker Verlag GmbH, a company registered in Germany. The parent company's registered office is Wecostraße 4, D-53783 Eitorf, Germany.

The ultimate parent company during the period was Gerstäcker Management GmbH & Co. KG, a company registered in Germany. The ultimate parent company's registered office is Gerstäcker Management GmbH & Co. KG, at Wecostraße 4, D-53783 Eitorf, Germany.

The smallest and largest group which draws up consolidated financial statements including Gerstaecker UK Limited, is headed by Gerstäcker Management GmbH & Co. KG. Copies of the group accounts can be obtained from Gerstäcker Management GmbH & Co. KG, at Wecostraße 4, D-53783 Eitorf, Germany.

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