REGISTERED NUMBER: 13090033 (England and Wales)

ASSMANN OFFICE FURNITURE LTD.

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

A J Claydon

J Lebelt

A Epping

Dr F Quirll

REGISTERED OFFICE:

69 Turnmill Street

London

EC1M 5RR

REGISTERED NUMBER:

13090033 (England and Wales)

AUDITORS:

Phipps Henson McAllister

Chartered Accountants

and Statutory Auditors

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

80,525

83,723

CURRENT ASSETS

Debtors

5

1,259,092

848,882

Cash at bank

548,933

2,462,986

1,808,025

3,311,868

CREDITORS

Amounts falling due within one year

6

3,367,013

4,673,773

NET CURRENT LIABILITIES

(1,558,988

)

(1,361,905

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,478,463

)

(1,278,182

)

PROVISIONS FOR LIABILITIES

8

59,333

35,833

NET LIABILITIES

(1,537,796

)

(1,314,015

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(1,537,797

)

(1,314,016

)

SHAREHOLDERS' FUNDS

(1,537,796

)

(1,314,015

)

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 Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

A J Claydon - Director

1.	STATUTORY INFORMATION

Assmann Office Furniture 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.	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.

Going Concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the Company has a deficiency on total equity at the end of the year. The Company is reliant on ASSMANN Buromobel GmbH & CO.KG, a Group company, for support, including the continued supply of goods and working capital support, and by not recalling amounts owed by the Company until a date it has available funds. The Company has received a letter of financial support covering a period of at least twelve months from the date these financial statements were approved. Based on this the directors have concluded there is a reasonable expectation that the Company has adequate resources to continue in operation existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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.

Other fixed assets

-

in accordance with the lease

Motor vehicles

-

25-30% per annum

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 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.

Hire purchase and leasing commitments

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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Other

fixed

Motor

assets

vehicles

Totals

£

£

£

COST

At 1 January 2024

35,833

105,947

141,780

Additions

36,000

-

36,000

Disposals

(12,500

)

-

(12,500

)

At 31 December 2024

59,333

105,947

165,280

DEPRECIATION

At 1 January 2024

11,422

46,635

58,057

Charge for year

8,450

24,526

32,976

Eliminated on disposal

(6,278

)

-

(6,278

)

At 31 December 2024

13,594

71,161

84,755

NET BOOK VALUE

At 31 December 2024

45,739

34,786

80,525

At 31 December 2023

24,411

59,312

83,723

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,130,398

588,822

Amounts owed by group undertakings

43,718

38,427

Other debtors

74,364

202,988

VAT

-

15,337

Prepayments and accrued income

10,612

3,308

1,259,092

848,882

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

146,363

202,567

Amounts owed to group undertakings

3,119,373

4,144,805

VAT

57,677

-

Other creditors

26,881

100,137

Accruals and deferred income

16,719

226,264

3,367,013

4,673,773

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

375,929

198,179

Between one and five years

1,290,972

606,612

In more than five years

273,181

358,181

1,940,082

1,162,972

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Other provisions

59,333

35,833

Dilap-

idation

£

Balance at 1 January 2024

35,833

Provided during year

36,000

Utilised during year

(12,500

)

Balance at 31 December 2024

59,333

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

ordinary

1

1

1

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

The Report of the Auditors was unqualified.

Stuart Armstrong FCCA (Senior Statutory Auditor)

for and on behalf of Phipps Henson McAllister

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Assmann Buromobel GmbH & Co KG, registered in Germany.