Woehner (UK) Limited Filleted accounts for Companies House (small and micro)

WOEHNER (U.K.) LIMITED - Company Information

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Woehner (UK) Limited

Financial statements

31 December 2019

Company Registration Number 03096821

Woehner (UK) Limited

Financial statements

year ended 31 December 2019

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 4

Woehner (UK) Limited

Balance sheet

31 December 2019

			2018
Note	£	£	£	£

Fixed assets

Tangible assets	4		1,890		544

Current assets

Stocks		9,621	561
Debtors	5	111,402	59,093
Cash at bank and in hand		58,985	38,510
		---------	--------
		180,008	98,164

Prepayments and accrued income	4,175		1,081

Creditors: amounts falling due within one year	6	( 397,732)		( 368,855)
		---------		---------
Net current liabilities			( 213,549)		( 269,610)
			---------		---------
Total assets less current liabilities			( 211,659)		( 269,066)

Creditors: amounts falling due after more than one year	7		( 3,570,077)		( 3,692,259)

Accruals and deferred income	( 3,374)	( 936)
	------------	------------
Net liabilities	( 3,785,110)	( 3,962,261)
	------------	------------

Capital and reserves

Called up share capital	50	50
Profit and loss account	( 3,785,160)	( 3,962,311)
	------------	------------
Shareholders funds	( 3,785,110)	( 3,962,261)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account and directors' report have not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 February 2020 , and are signed on behalf of the board by:

P Kooke
Director

Company registration number: 03096821

Woehner (UK) Limited

Notes to the financial statements

year ended 31 December 2019

1. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2. Accounting policies

2.1 Basis of preparation

The financial statements have been prepared on the historical cost basis.

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

2.2 Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependant on the continued support of the parent company in postponing the repayment of their loans and also the continued support of the company's bankers in providing overdraft facilities. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amount, to provide for any further liabilities that might arise, and to reclassify fixed assets as current assets.

2.3 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on 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.

2.4 Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: Deferred tax has not been provided as it is unlikely the losses will be reversed.

2.5 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.

2.6 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at rates of 15% - 33% per annum.

2.7 Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

2.8 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.

2.9 Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3. Employees

The average number of persons employed by the company during the year amounted to 2 (2018: 2 ).

4. Tangible assets

	Plant and machinery	Total

Cost
At 1 January 2019	7,495	7,495
Additions	1,832	1,832
Disposals	( 1,506)	( 1,506)
	-------	-------
At 31 December 2019	7,821	7,821
	-------	-------
Depreciation
At 1 January 2019	6,951	6,951
Charge for the year	487	487
Disposals	( 1,507)	( 1,507)
	-------	-------
At 31 December 2019	5,931	5,931
	-------	-------
Carrying amount
At 31 December 2019	1,890	1,890
	-------	-------
At 31 December 2018	544	544
	-------	-------

5. Debtors

		2018
	£	£

Trade debtors	111,402	59,093
	---------	--------

6. Creditors: amounts falling due within one year

		2018
	£	£

Trade creditors	1,587	1,829
Amounts owed to group undertakings	349,398	337,265
Social security and other taxes	45,818	29,262
Other creditors	929	499
	---------	---------
	397,732	368,855
	---------	---------

7. Creditors: amounts falling due after more than one year

		2018
	£	£

Amounts owed to group undertakings	3,570,077	3,692,259
	------------	------------

Included within creditors: amounts falling due after more than one year is an amount of £3,570,077 (2018: £3,692,259) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.

8. Summary audit opinion

The auditor's report for the year dated 27 November 2020 was unqualified.

The senior statutory auditor was Sarah Brock , for and on behalf of Hart Shaw LLP .

9. Controlling party

The parent of the smallest group for which consolidated financial statements are prepared is Wöhner International Ges.m.b.H , a company incorporated in Austria, with registered office Schottenfeldgasse 59/8, 1070 Vienna Commercial , which owns 100% of the issued ordinary share capital of Woehner (U.K.) Limited. The ultimate parent is Wöhner Family Holding GmbH and Co. KG. a company incorporated in Germany, with registered office Allee 2, 96450 Coburg.

10. General information

The company was registered in Wales and its registered number is 03096821 . The company is a private company limited by shares. Its registered office is 7 Spring Gardens, Gainsborough, Lincolnshire DN21 2AY.