REGISTERED NUMBER: 05870176 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GLATTHAAR KELLER LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

R Heinzelmann

SECRETARY:

T Salomon

REGISTERED OFFICE:

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

BUSINESS ADDRESS:

1 Braeside

Addlestone

Surrey

KT15 3BJ

REGISTERED NUMBER:

05870176 (England and Wales)

AUDITORS:

Hartley Fowler LLP

Statutory Auditors

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Tangible assets

5

116,557

47,649

CURRENT ASSETS

Stocks

6

338,207

801,615

Debtors

7

99,264

551,089

Cash at bank

980,330

1,356,072

1,417,801

2,708,776

CREDITORS

Amounts falling due within one year

8

759,250

2,454,228

NET CURRENT ASSETS

658,551

254,548

TOTAL ASSETS LESS CURRENT LIABILITIES

775,108

302,197

CAPITAL AND RESERVES

Called up share capital

9

30,000

30,000

Retained earnings

745,108

272,197

SHAREHOLDERS' FUNDS

775,108

302,197

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 director and authorised for issue on 11 September 2025 and were signed by:

R Heinzelmann - Director

1.	STATUTORY INFORMATION

Glatthaar Keller Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

(i) Provisions for warranties.

The estimates used to establish provisions are based on historical experience, information from external professionals and other facts and reasonable assumptions under the circumstances.

(ii) Income recognition and work in progress.

Management has considered the criteria for the recognition of income according to FRS 102 section 23, in particular whether the company had transferred to the buyer the significant risks and rewards of ownership of the goods.

Income recognition

Income is recognised when contracts with customers are completed such that the risks and rewards of ownership have transferred to them. This occurs only on the delivery of the completed goods to the customer.

Income derived from contracts with a term falling in more than one accounting period, is recognised as and when the Company's right to consideration is obtained through performance of its work under the terms of the contract. Payments received in advance are treated as deferred income until such time as the Company's right to consideration is obtained through performance.

Other income includes:

(i) Interest on bank balances is included when receivable, this is normally upon notification of the interest paid or payable by the bank.

(iii) Rental income is recognised when receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Work in progress and raw materials

Work in progress comprises the construction of basements. Costs includes all direct expenditure and an appropriate proportion of fixed and variable overheads.The customer does not obtain control or the significant risks and rewards of ownership of the work in progress in its current state as construction progress. Transfer occurs only on delivery of the completed basement to the customer.

Costs that relate in securing the contract which are separately identified and measured reliably are recognised as an expense in the period in which the contract is secured.

Raw materials are stated at the lower of cost and selling price less costs to complete and sell, after making due allowance for obsolete and slow moving stock.

Basic financial instruments

Cash in hand is measured at transaction price.

Debtors. Trade and other debtors are measured at transaction price. Trade debtors are amounts due from

customers for goods or services performed in the ordinary course of business less any impairment provision.

These are recognised as current assets as collection is due within one year or less.

Creditors: amounts falling due within one year are measured at transaction price. Trade Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. These are classified as current liabilities as payment is due in one year or less.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

The financial statements are presented in sterling which is the company's presentational currency.

The items included in these financial statements relating to the company are measured using the functional currency, that is the currency of the primary economic environment in which the company operates. The director considers the company's "functional currency" to be sterling.

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the income statement on a straight-line basis over the lifetime 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.

Dividends

Dividends are recognised in the company's financial statements in the year in which they are approved.

Share capital

Ordinary shares are classified as equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 11 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

378,387

Additions

106,375

Disposals

(59,814

)

At 31 December 2024

424,948

DEPRECIATION

At 1 January 2024

330,738

Charge for year

37,467

Eliminated on disposal

(59,814

)

At 31 December 2024

308,391

NET BOOK VALUE

At 31 December 2024

116,557

At 31 December 2023

47,649

6.

STOCKS

2024

2023

£

£

Raw materials

107,657

147,759

Work-in-progress

230,550

653,856

338,207

801,615

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

18,490

377,403

Other debtors

80,774

173,686

99,264

551,089

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

15,461

37,357

Taxation and social security

148,271

28,978

Other creditors

595,518

2,387,893

759,250

2,454,228

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

30,000

Ordinary

£1

30,000

30,000

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

The Report of the Auditors was unqualified.

Julien Upson (Senior Statutory Auditor)

for and on behalf of Hartley Fowler LLP

11.	RELATED PARTY DISCLOSURES

During the year the company was charged £198,090 (2023: £367,062) for services and purchases provided by Glatthaar Keller GmbH and associated group companies. Included in creditors at the balance sheet date £69,010 (2023 £167,839) was outstanding.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Glatthaar Holding GmbH, a company incorporated in Germany and in which J Glatthaar has control of more than 25% but not more than 50%. The registered office of Glatthaar Holding GmbH is Joachim-Glatthaar-Platz 1, D-78713 Schramberg, Germany.