Stockmeier Urethanes UK Limited
for the Year Ended 28 February 2026
Stockmeier Urethanes UK Limited
Contents
|
Company Information |
|
|
Strategic Report |
|
|
Directors' Report |
|
|
Independent Auditor's Report |
|
|
Profit and Loss Account (incorporating the Statement of Income and Retained Earnings |
|
|
Balance Sheet |
|
|
Statement of Cash Flows |
|
|
Notes to the Financial Statements |
Stockmeier Urethanes UK Limited
Company Information
|
Directors |
Mr T L Blundell Mr C Martinkat Mr G Keegan |
|
Registered office |
|
|
Auditors |
|
Stockmeier Urethanes UK Limited
Strategic Report
for the Year Ended 28 February 2026
The directors present their strategic report for the year ended 28 February 2026.
Principal activity
The principal activity of the company is the formulation, manufacture and distribution of polyurethane and epoxy polymer systems. The polymeric systems are used in encapsulating, casting, potting, adhering, sealing and binding processes. Customers operate in many industrial segments including manufacturing, construction, decorative, sport and safety surfacing. Further information is available at www.stockmeier-urethanes.com.
Fair review of the business
The company uses a range of financial and non-financial indicators to measure the performance of the business. Financial Key Performance indicators include turnover, gross margin and net profit.
Overall, another robust year; whilst turnover decreased by 7% to £9.5m as compared to the previous reporting period, gross margin, as a percentage of sales remained consistent with the previous year. The resultant gross profit therefore decreased by 8% on the prior year. The total overheads remained comparable with the previous year, decreasing by 1%. Total net profit before tax was £882k which, although slightly down on the previous year, is still a healthy profit.
The balance sheet continues to be strong with over £2.2m cash at bank, and shareholder’s funds increasing slightly to £4.28m.
Stockmeier Urethanes UK Limited
Strategic Report
for the Year Ended 28 February 2026 (continued)
Principal risks and uncertainties
Key risks and uncertainties of the company are considered throughout the year. The principal, external risks faced by the company are from competition and raw material availability. To reduce these risks the company is dedicated to producing quality products at competitive prices, whilst maintaining robust levels of raw materials with strong business relationships.
The company believes in continuously improving products, processes and people and endeavours to create a positive and safe workplace with core values of innovation, integrity, teamwork, ownership and leadership.
The company operates a rigorous internal environmental, health and safety policy which is supported by a health and safety committee, management reviews and audits from external bodies.
There is a positive outlook for the year ahead following the previous investment to increase production capacities and storage facilities. The company will also continue the strategy of prioritising customers’ requirements with superb levels of technical support and service. The aim is to continue with growth through new product development and expansion of market share.
Approved and authorised by the
|
......................................... |
Stockmeier Urethanes UK Limited
Directors' Report
for the Year Ended 28 February 2026
The directors present their report and the financial statements for the year ended 28 February 2026.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments and risk management
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are mainly conducted in sterling. The company does not enter into any hedging transactions.
Future developments
There have been no significant events since the year end.
Research and development
The company continually designs and develops its products to diversify into new markets and obtain new customers, as outlined in the Strategic Report.
Stockmeier Urethanes UK Limited
Directors' Report
for the Year Ended 28 February 2026 (continued)
Statement of Directors' Responsibilities
The directors are responsible for preparing the Strategic Report, Directors’ Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
|
• |
select suitable accounting policies and apply them consistently; |
|
• |
make judgements and accounting estimates that are reasonable and prudent; |
|
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
|
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
|
......................................... |
Stockmeier Urethanes UK Limited
Independent Auditor's Report to the Members of Stockmeier Urethanes UK Limited
Opinion
We have audited the financial statements of Stockmeier Urethanes UK Limited (the 'company') for the year ended 28 February 2026, which comprise the Profit and Loss Account (incorporating the Statement of Income and Retained Earnings), Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 28 February 2026 and of its profit 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. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Stockmeier Urethanes UK Limited
Independent Auditor's Report to the Members of Stockmeier Urethanes UK Limited (continued)
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
|
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Stockmeier Urethanes UK Limited
Independent Auditor's Report to the Members of Stockmeier Urethanes UK Limited (continued)
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to:
i) Laws and regulations generally recognized to have a direct effect on the determination of material amounts and disclosures in the financial statements:
• The financial operating framework FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
• The Companies Act 2006
• Tax legislations - various
• Employment law
• Pension Prudential Regulation Authority
ii) Laws and regulations which provides the legal framework within which the company conducts its business and which is central to the company’s ability to conduct its business:
• ISO:9001 2015 certification
We assessed the risks of material misstatement in respect of fraud through:
i) enquiries with management and those charged with governance
ii) the audit team initial discussions on fraud to identify particular areas that were susceptible to misstatement
Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.
The audit team was assessed to have the appropriate competence and capability to identify or recognise non-compliance with laws and regulation.
Stockmeier Urethanes UK Limited
Independent Auditor's Report to the Members of Stockmeier Urethanes UK Limited (continued)
Our approach to understanding the company’s policies and procedures for compliance with those laws and regulations and to gaining an understanding of how instances of non-compliance with laws and regulations or knowledge of actual, suspected, or alleged fraud is documented was via enquiry with management.
We corroborated our enquiries through:
i) review of correspondence with HMRC and Companies House (and their respective websites)
ii) review of correspondence from the pension regulator
iii) review of relevant regulatory websites
iv) review of signed agreements / contracts
Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. The audit tests implemented involved checks with compliance on various company and employment laws and regulations.
We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries and accounting estimates into our audit approach. Any unusual transactions were investigated further and relevant documentary evidence obtained where deemed necessary.
We considered the risk of fraud through the selection and application of accounting policies by the company, particularly those related to subjective measurements and complex transactions, which may be indicative of fraudulent financial reporting resulting from management’s effort to manage earnings. In response, in our audit approach we reviewed the application of accounting policies, in particular those associated with accounting estimates, for reasonableness and correct application within the financial statements.
Audit test sample selection process involves random selection to incorporate an element of unpredictability in the selection of audit procedures.
Based on our approach and procedures in place explained above, we can provide reasonable assurance that any irregularities, including fraud, would likely be detected. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect irregularities.
Because of the inherent limitations of an audit, there is always a risk that we will not detect all irreglarities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Stockmeier Urethanes UK Limited
Independent Auditor's Report to the Members of Stockmeier Urethanes UK Limited (continued)
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
Rosemount House
Huddersfield Road
Elland
West Yorkshire
HX5 0EE
Stockmeier Urethanes UK Limited
Profit and Loss Account
(Incorporating the Statement of Income and Retained Earnings)
for the Year Ended 28 February 2026
|
Note |
2026 |
2025 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar charges |
( |
( |
|
|
(29,156) |
(32,077) |
||
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Retained earnings brought forward |
4,227,027 |
4,025,246 |
|
|
Dividends paid |
( |
( |
|
|
Retained earnings carried forward |
4,281,138 |
4,227,027 |
|
Stockmeier Urethanes UK Limited
Balance Sheet
as at 28 February 2026
|
Note |
2026 |
2025 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Capital redemption reserve |
|
|
|
|
Profit and loss account |
|
|
|
|
Total equity |
|
|
Approved and authorised by the
|
......................................... |
(Registration number: 01651365)
Stockmeier Urethanes UK Limited
Statement of Cash Flows
for the Year Ended 28 February 2026
|
Note |
2026 |
2025 |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease in stocks |
|
|
|
|
Decrease/(increase) in trade debtors |
|
( |
|
|
Increase/(decrease) in trade creditors |
|
( |
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Acquisition of intangible assets |
( |
( |
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Proceeds from bank borrowing draw downs |
( |
( |
|
|
Payments to finance lease creditors |
( |
|
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
|
Cash and cash equivalents at 1 March |
|
|
|
|
Cash and cash equivalents at 28 February |
2,180,414 |
1,828,213 |
|
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026
|
General information |
The company is a private company limited by share capital, incorporated in England within the United Kingdom.
The address of its registered office is:
|
Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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 been transferred to the buyer.
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
2 |
Accounting policies (continued) |
Foreign currency transactions and balances
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred 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 unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.
Tangible assets
Tangible assets are stated in the balance sheet at cost (or deemed cost) less any accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties, over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Land |
not depreciated |
|
Buildings |
4% per annum on a straight line basis |
|
Leasehold property improvements |
25% per annum on a straight line basis |
|
Plant and machinery |
25% per annum on a straight line basis |
|
Fixtures, fittings and equipment |
25% per annum on a straight line basis |
|
Motor vehicles |
25% per annum on a straight line basis |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Computer software |
25% per annum on a straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock levels are maintained using the first in first out method and cost is determined using a rolling weighted average for all stock items held.
Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Trade debtors
Trade debtors are amounts due from customers for goods supplied in the ordinary course of business. If collection is expected in one year or less they are classified as current assets. If not, they are presented as non-current assets.
Trade debtors are recognised at the transaction price.
Cash and bank balances
Cash and bank balances include cash in hand and deposits held with banks, and are disclosed within current assets.
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
2 |
Accounting policies (continued) |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. They are classed 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 at cost.
Borrowings
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Leases
Rentals in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Sale of goods |
|
|
The analysis of the company's Turnover for the year by market is as follows:
|
2026 |
2025 |
|
|
UK |
|
|
|
Europe |
|
|
|
Rest of world |
|
|
|
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2026 |
2025 |
|
|
Miscellaneous other operating income |
|
|
|
Operating profit |
Arrived at after charging/(crediting)
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Operating lease expense |
49,192 |
48,515 |
|
Profit on disposal of property, plant and equipment |
( |
( |
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Other interest receivable and similar income |
|
2026 |
2025 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2026 |
2025 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Foreign exchange (losses)/gains |
( |
|
|
|
|
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Production |
|
|
|
Administration and support |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
313,339 |
331,828 |
During the year the number of directors who were receiving benefits was as follows:
|
2026 |
2025 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
9 |
Directors' remuneration (continued) |
In respect of the highest paid director:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Audit of the financial statements |
|
|
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2026 |
2025 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK of
The differences are reconciled below:
|
2026 |
2025 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Expenses not deductable for tax purposes |
|
|
|
Tax increase from effect of depreciation and loss on disposal of assets not qualifying for capital allowances |
|
|
|
Total tax charge |
|
|
The deferred tax creditor is made up of a credit balance of £37,595 (2025: £20,855) relating to accelerated capital allowances.
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Intangible assets |
|
Computer software |
Total |
|
|
Cost or valuation |
||
|
At 1 March 2025 |
|
|
|
Additions acquired separately |
|
|
|
At 28 February 2026 |
|
|
|
Amortisation |
||
|
At 1 March 2025 |
|
|
|
Amortisation charge |
|
|
|
At 28 February 2026 |
|
|
|
Carrying amount |
||
|
At 28 February 2026 |
|
|
|
At 28 February 2025 |
|
|
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Tangible assets |
|
Land and buildings |
Fixtures, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
|||||
|
At 1 March 2025 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
( |
( |
( |
( |
|
At 28 February 2026 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 March 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
( |
( |
( |
( |
|
At 28 February 2026 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 28 February 2026 |
|
|
|
|
|
|
At 28 February 2025 |
|
|
|
|
|
Included within the net book value of land and buildings above is £1,115,113 (2025 - £1,138,972) in respect of freehold land and buildings.
|
Stocks |
|
2026 |
2025 |
|
|
Raw materials and consumables |
|
|
|
Finished goods and goods for resale |
|
|
|
|
|
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Debtors |
|
Current |
Note |
2026 |
2025 |
|
Trade debtors |
|
|
|
|
Other debtors |
|
- |
|
|
Prepayments |
|
|
|
|
Income tax asset |
|
- |
|
|
|
|
|
Cash and bank balances |
|
2026 |
2025 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
Creditors |
|
Note |
2026 |
2025 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts due to related parties |
|
|
|
|
Social security and other taxes |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Corporation tax liability |
- |
87,528 |
|
|
|
|
||
|
Due after one year |
|||
|
Bank loans and overdrafts |
|
|
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 March 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 28 February 2026 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £34,232 (2025 - £34,552).
|
Share capital |
Allotted, called up and fully paid shares
|
2026 |
2025 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
4,901 |
|
4,901 |
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Loans and borrowings |
|
2026 |
2025 |
|
|
Current loans and borrowings |
||
|
Bank borrowings |
|
|
|
HP and finance lease liabilities |
|
|
|
|
|
|
|
2026 |
2025 |
|
|
Non-current loans and borrowings |
||
|
Bank borrowings |
|
|
|
HP and finance lease liabilities |
- |
|
|
|
|
|
Included in the loans and borrowings are the following amounts due after more than five years:
|
2026 |
2025 |
|
|
After more than five years by instalments |
|
|
|
- |
- |
Bank borrowings
|
The loan is secured by all monies held in a business current account, by way of a debenture and a first legal charge over Mylestone House. |
Stockmeier Urethanes UK Limited
Notes to the Financial Statements
for the Year Ended 28 February 2026 (continued)
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2026 |
2025 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Related party transactions |
Transactions between group companies, which are related parties, have been eliminated on consolidation and are not disclosed in this note.
|
Parent and ultimate parent undertaking |
The ultimate parent companies who each control 50% of Stockmeier Urethanes GmbH & Co. KG. are:
(i) Stockmeier Holding GmbH, a company incorporated in Germany. Their registered office, from where group accounts can be obtained, is Am Stadtholz 37, 33609 Bielefeld, Germany.
(ii) Martinkat Vermogensverwaltungsgellschaft mbH & Co. KG, a limited liability partnership formed in Germany. The registered office from where the accounts can be obtained is Marktsraße 7, 33609 Bielefeld, Germany.