Deister Electronic (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02120680 (England and Wales)

Financial Statements

for the Year Ended 31 December 2019

for

Deister Electronic (UK) Limited

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

Directors:

A Stobbe

N Stobbe

Secretary:

Mrs L R Scheler

Registered office:

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

Registered number:

02120680 (England and Wales)

Auditors:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

Fixed assets

Tangible assets

5

167,190

82,264

Investments

6

-

-

167,190

82,264

Current assets

Stocks

449,188

439,876

Debtors

7

742,957

912,873

Cash in hand

638,308

508,943

1,830,453

1,861,692

Creditors

Amounts falling due within one year

8

334,238

337,154

Net current assets

1,496,215

1,524,538

Total assets less current liabilities

1,663,405

1,606,802

Creditors

Amounts falling due after more than one year

9

(30,550

)

-

Provisions for liabilities

(16,207

)

(9,906

)

Net assets

1,616,648

1,596,896

Capital and reserves

Called up share capital

12

61,000

61,000

Retained earnings

1,555,648

1,535,896

Shareholders' funds

1,616,648

1,596,896

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 income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors on 23 March 2020 and were signed on its behalf by:

A Stobbe - Director

1.	Statutory information

Deister Electronic (UK) 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.

The company's trading address is Stapleton Way, Pinchbeck, Spalding, Lincolnshire, PE11 3YQ.

2.	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 the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership

have transferred to the buyer (usually of despatch of the goods); the amount of revenue can be

measured reliably; it is probable that the associated economic benefits will flow to the entity; and the

costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on a straight line basis

Fixtures and fittings

-

25% on a straight line basis

Motor vehicles

-

25% on a straight line basis

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated

depreciation and impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock

to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a

similar debt instrument, those financial instruments are classed as financial liabilities. Financial

liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to

financial liabilities are included in the profit and loss account. Finance costs are calculated so as to

produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a

financial liability then this is classed as an equity instrument. Dividends and distributions relating to

equity instruments are debited directly to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at

the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or

substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is

measured using the tax rates and laws that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot

exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign

currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses

being taken to the profit and loss account.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on straight-line basis. The

aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a

straight-line basis.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any

accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in the profit

or loss.

Impairment of fixed assets

The carrying values of tangible fixed assets are reviewed for impairment annually by the directors

without revaluing the assets. Where the aggregate value of those assets is less than the aggregate

that they are stated in the company's accounts, a provision will be made for any material impairment.

4.	Employees and directors

The average number of employees during the year was 17 (2018 - 17 ) .

5.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2019

272,434

24,933

32,000

14,750

344,117

Additions

61,311

3,843

80,760

104

146,018

Disposals

-

-

(32,000

)

-

(32,000

)

At 31 December 2019

333,745

28,776

80,760

14,854

458,135

Depreciation

At 1 January 2019

222,089

22,014

17,750

-

261,853

Charge for year

27,914

1,691

14,860

2,971

47,436

Eliminated on disposal

-

-

(18,344

)

-

(18,344

)

At 31 December 2019

250,003

23,705

14,266

2,971

290,945

Net book value

At 31 December 2019

83,742

5,071

66,494

11,883

167,190

At 31 December 2018

50,345

2,919

14,250

14,750

82,264

6.	Fixed asset investments

Other

investments

£

Cost

At 1 January 2019

and 31 December 2019

70

Provisions

At 1 January 2019

and 31 December 2019

70

Net book value

At 31 December 2019

-

At 31 December 2018

-

7.

Debtors

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

291,740

403,385

IMS Management Services Ltd

loan debtor

219,300

232,423

Duke Properties Ltd

loan debtor

40,760

38,575

Tax

1,547

-

Prepayments

62,270

54,370

615,617

728,753

Amounts falling due after more than one year:

Duke Properties Ltd

loan debtor

127,340

184,120

127,340

184,120

Aggregate amounts

742,957

912,873

8.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

43,537

8,319

Amounts owed to group undertakings

26,649

29,336

Tax

-

21,189

VAT

109,413

104,563

Other creditors

19,016

16,435

Hire purchase

10,320

-

Accrued expenses

125,303

157,312

334,238

337,154

9.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Hire purchase

30,550

-

10.	Leasing agreements

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

2019

2018

£

£

Within one year

119,636

127,112

Between one and five years

212,801

332,437

332,437

459,549

11.	Secured debts

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase

40,870

-

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

61,000

Ordinary Shares

£1

61,000

61,000

13.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the auditors was unqualified.

Heather Bright (FCA) (Senior Statutory Auditor)

for and on behalf of Moore Thompson

14.	Controlling party

Deister Electronic (UK) Limited is a 100% subsidiary of Deister International GmbH, a company

registered in Germany. Deister International GmbH was formerly known as M.S.T. Electronik B.V. and

registered in The Netherlands.

Deister International GmbH is a 100% subsidiary of Deister Holding A.G., a company based in

Germany.

Both Deister International GmbH and Deister Holding A.G. are based at Hermann-Bahlsen Strasse 11,

30890 Barsinghauseu, Germany.

The ultimate controlling party is A Stobbe.