Wenzel UK Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 02931730 (England and Wales)

WENZEL UK LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Dr H Wenzel

Mr R Burrows

REGISTERED OFFICE:

Unit 9 Apollo Court

Vulcan Way

Coalville

Leicestershire

LE67 3FD

REGISTERED NUMBER:

02931730 (England and Wales)

AUDITORS:

Folkes Worton LLP

Chartered Accountants and Statutory Auditor

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

FIXED ASSETS

Tangible assets

4

79,983

80,456

CURRENT ASSETS

Stocks

11,938

20,616

Debtors

5

224,885

266,736

Cash at bank

103,234

24,498

340,057

311,850

CREDITORS

Amounts falling due within one year

6

2,388,642

2,164,341

NET CURRENT LIABILITIES

(2,048,585

)

(1,852,491

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,968,602

)

(1,772,035

)

CREDITORS

Amounts falling due after more than one
year

7

25,082

30,732

NET LIABILITIES

(1,993,684

)

(1,802,767

)

CAPITAL AND RESERVES

Called up share capital

9

706,606

Retained earnings

(2,700,290

)

(2,509,373

)

SHAREHOLDERS' FUNDS

(1,993,684

)

(1,802,767

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

Dr H Wenzel - Director

1.	STATUTORY INFORMATION

Wenzel UK 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost and 12.5% on cost

Fixtures and fittings

-

36.5% on cost and 10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern

Notwithstanding net liabilities of £2,048,585 the financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment alongside the financial support provided by the company's parent company, Wenzel International AG.

The parent company has indicated its intention to continue to make available such funds as are needed by the company for a period or at least 12 months from the date of signed accounts. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue, although at the date of approval of these financial statements, they have no reason to believe that it will not do.

Consequently, the directors are confident that the company will have sufficient funds to continue to meet its

liabilities as they fall due for at least 12 months from the date of approval of the financial statements and

therefore the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

92,132

23,385

47,795

22,284

185,596

Additions

17,598

-

2,708

20,306

Disposals

-

(1,531

)

(1,531

)

At 31 December 2024

109,730

23,385

47,795

23,461

204,371

DEPRECIATION

At 1 January 2024

66,197

21,217

3,186

14,540

105,140

Charge for year

8,183

247

9,559

2,241

20,230

Eliminated on disposal

-

(982

)

(982

)

At 31 December 2024

74,380

21,464

12,745

15,799

124,388

NET BOOK VALUE

At 31 December 2024

35,350

1,921

35,050

7,662

79,983

At 31 December 2023

25,935

2,168

44,609

7,744

80,456

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

47,795

DEPRECIATION

At 1 January 2024

3,186

Charge for year

9,559

At 31 December 2024

12,745

NET BOOK VALUE

At 31 December 2024

35,050

At 31 December 2023

44,609

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

205,408

248,540

Other debtors

19,477

18,196

224,885

266,736

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts (see note 8)

5,650

Trade creditors

102,252

37,232

Amounts owed to group undertakings

2,038,174

2,028,811

Taxation and social security

48,563

65,726

Other creditors

194,003

26,922

2,388,642

2,164,341

Finance leases are secured on the assets to which they relate.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Hire purchase contracts (see note 8)

25,082

30,732

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

Gross obligations repayable:

Within one year

8,818

Between one and five years

33,530

42,348

51,166

Finance charges repayable:

Within one year

3,168

Between one and five years

8,448

11,616

14,784

Net obligations repayable:

Within one year

5,650

Between one and five years

25,082

30,732

36,382

Non-cancellable operating

leases

2024

2023

£

Within one year

9,653

15,304

Between one and five years

-

9,653

24,957

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

706,606

Ordinary

£1

706,606

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

The Report of the Auditors was unqualified.

Mr Nigel Meredith (Senior Statutory Auditor)

for and on behalf of Folkes Worton LLP

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Wenzel International AG.

The ultimate controlling party is Wenzel Group GmbH & Co. KG, a company incorporated in Germany.

The registered office address of the controlling part Wenzel International AG is Rheinfelsstrasse 1, CH-7007 Chur, Switzerland.