German Light Products UK Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 10

German Light Products UK Ltd

Company Information

Directors

Mr K Gissel Mr U Kunzler Ms K Tymms

Registered office

Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE

Auditors

PKF Francis Clark Statutory AuditorCentenary House Peninsula Park Rydon Lane Exeter EX2 7XE

German Light Products UK Ltd

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	134,733	166,011
Current assets
Stocks	5	386,705	449,020
Debtors	6	446,816	410,074
Cash at bank and in hand		241,539	314,056
		1,075,060	1,173,150
Creditors: Amounts falling due within one year	7	(1,412,903)	(1,347,111)
Net current liabilities		(337,843)	(173,961)
Total assets less current liabilities		(203,110)	(7,950)
Creditors: Amounts falling due after more than one year	7	(24,923)	(30,380)
Net liabilities		(228,033)	(38,330)
Capital and reserves
Called up share capital	9	25,000	25,000
Profit and loss account		(253,033)	(63,330)
Shareholders' deficit		(228,033)	(38,330)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 September 2025 and signed on its behalf by:
 

......................................... Ms K Tymms Director

Company Registration Number: 09998011

German Light Products UK Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

The principal place of business is:
Unit 23
The Io Centre
Salbrook Road
Redhill
RH1 5DY

These financial statements were authorised for issue by the Board on 25 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 Section 1A and the Companies Act 2006. There are no material departures.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The functional currency of German Light Products UK Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates.

Going concern

The company is reliant on continued financial support from its immediate parent company, German Light Products GmBH, who are the company’s major creditor, accounting for £1,280,400 of creditors at the balance sheet date. It has been confirmed that this support will be provided for a period of at least twelve months from the approval of these financial statements and therefore the directors continue to adopt the going concern basis in preparing the financial statements.

German Light Products UK Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, which is typically on dispatch of goods. Turnover from the rendering of services is recognised by reference to the stage of completion at the balance sheet date.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on used tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fittings	25% reducing balance
Leasehold improvements	Over the lease term
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Cost represents the purchase price.

Net realisable value is based on the estimated selling price in the ordinary course of business less anticipated costs of completion and selling costs.

German Light Products UK Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

German Light Products UK Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Amounts due to group undertakings;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Other than bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, are are subsequently carried at amortised cost using the effective interest method.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

German Light Products UK Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

5

Stocks

	2024 £	2023 £
Finished goods and goods for resale	386,705	449,020

6

Debtors

	2024 £	2023 £
Trade debtors	395,845	371,216
Prepayments	50,971	38,858
	446,816	410,074

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	5,461	5,461
Trade creditors		3,265	8,068
Amounts due to group undertakings		1,280,400	1,151,734
Taxation and social security		90,468	147,051
Accruals and deferred income		12,842	12,230
Other creditors		20,467	22,567
		1,412,903	1,347,111