Lodige (United Kingdom) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01998269 (England and Wales)

Financial Statements

for the Year Ended 31 December 2018

for

Lodige (United Kingdom) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Baul

P P De Backer

Mrs M J Wells

SECRETARY:

Mrs M J Wells

REGISTERED OFFICE:

Laxton House Crabtree Office Village

Eversley Way

Egham

Surrey

TW20 8RY

REGISTERED NUMBER:

01998269 (England and Wales)

AUDITORS:

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

FIXED ASSETS

Tangible assets

4

8,445

33,576

Investments

5

10,000

10,000

18,445

43,576

CURRENT ASSETS

Debtors

6

3,852,923

4,165,575

Cash at bank and in hand

200,082

201,147

4,053,005

4,366,722

CREDITORS

Amounts falling due within one year

7

2,946,778

3,084,313

NET CURRENT ASSETS

1,106,227

1,282,409

TOTAL ASSETS LESS CURRENT LIABILITIES

1,124,672

1,325,985

CAPITAL AND RESERVES

Called up share capital

8

400,000

400,000

Retained earnings

9

724,672

925,985

SHAREHOLDERS' FUNDS

1,124,672

1,325,985

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 March 2019 and were signed on its behalf by:

Mrs M J Wells - Director

1.	STATUTORY INFORMATION

Lodige (United Kingdom) Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have not amortised the value of the rent deposit as required by FRS 102. The deposit is recoverable

when the lease comes to an end on 19th December 2024 and the amount of amortisation is considered to be

immaterial.

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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

50% on cost, 33% on cost and 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

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

balance sheet 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Investments

Investments comprise investments in unquoted equity instruments which are measured at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2017 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

49,664

117,265

166,929

Additions

-

6,204

6,204

Disposals

-

(22,750

)

(22,750

)

At 31 December 2018

49,664

100,719

150,383

DEPRECIATION

At 1 January 2018

43,600

89,753

133,353

Charge for year

4,733

18,387

23,120

Eliminated on disposal

-

(14,535

)

(14,535

)

At 31 December 2018

48,333

93,605

141,938

NET BOOK VALUE

At 31 December 2018

1,331

7,114

8,445

At 31 December 2017

6,064

27,512

33,576

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

10,000

NET BOOK VALUE

At 31 December 2018

10,000

At 31 December 2017

10,000

6.

DEBTORS

31.12.18

31.12.17

£

£

Amounts falling due within one year:

Trade debtors

844,748

751,035

Amounts owed by group undertakings

2,728,068

2,515,509

Other debtors

283,676

902,600

3,856,492

4,169,144

Amounts falling due after more than one year:

Trade debtors

(3,569

)

(3,569

)

Aggregate amounts

3,852,923

4,165,575

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

252,579

156,022

Amounts owed to group undertakings

414,623

510,628

Taxation and social security

277,485

430,299

Other creditors

2,002,091

1,987,364

2,946,778

3,084,313

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

400,000

Ordinary

£1

400,000

400,000

9.

RESERVES

Retained

earnings

£

At 1 January 2018

925,985

Profit for the year

298,687

Dividends

(500,000

)

At 31 December 2018

724,672

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

The Report of the Auditors was unqualified.

Mr Ashfaq Sharif BA FCA CTA (Senior Statutory Auditor)

for and on behalf of PB Associates

11.	RELATED PARTY DISCLOSURES

During the period the company recorded transactions with the following associated companies that are under

common control:

Overheads

Balance at

Sales

Recharged

Purchases

31.12.2018

£

£

£

£

Lodige Industries Gmbh

908

214,804

2,603,179

Lodige Ireland Limited

26,717

0

19,999

Lodige Asia

67

0

0

Lodige Systems (UK) Limited

0

0

10,000 Cr

Lodige Fordertechnik GmbH

24,056

0

0

Lodige Machine Warburg Gmbh

10,761

2,756,259

190,082 Cr

Lodige Machine SRL

1,166

451,697

808

Lodige Systems Gmbh

14,418

108,592

86,613 Cr

Lodige USA Inc

96,026

0

8,632

LogIT

0

577,343

45,893 Cr

Lodige Systems Middle East Limited

112,357

0

13,415

Lodige Benelux

15,805

16,027

0

Lodige Industries GmbH acts as a guarantor to the company's property lease.

In the previous period the transactions with associated companies were as follows:

Overheads

Balance at

Sales

Recharged

Purchases

31.12.2017

£

£

£

£

Lodige Industries Gmbh

0

231,239

2,482,311

Lodige Ireland Limited

8,391

0

9,435

Lodige Asia

18,659

0

0

Lodige Systems (UK) Limited

0

0

10,000 Cr

Lodige Fordertechnik GmbH

29,354

0

0

Lodige Machine Warburg Gmbh

19,811

2,069,568

282,150 Cr

Lodige Machine SRL

0

225,310

3,576 Cr

Lodige Systems Gmbh

55,712

37,982

166,309 Cr

Lodige USA Inc

101,972

0

7,536

LogIT

48

676,769

43,325 Cr

Lodige Systems Middle East Limited

6,375

0

0

Lodige Benelux

98,632

0

10,960

12.	ULTIMATE CONTROLLING PARTY

There is no individual ultimate controlling party, however the Dr R Lodige family together have ultimate control.