Riedel Communications Ltd
Riedel Communications Ltd
Registered number: 05351115
Financial Statements
For The Year Ended
31 December 2023
Jays Accountants & Tax Advisors LLP
Chartered Certified Accountants
The Old Coach House, 83a Victoria Road
Farnborough
Hampshire
GU14 7PP
Riedel Communications Ltd
Financial Statements
For The Year Ended
31 December 2023
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Riedel Communications Ltd
Balance Sheet
As At
31 December 2023
Balance Sheet
Registered number:
05351115
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 5 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 6 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 7 |
( |
( |
||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
|
|
||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 227,236 | 132,290 | |||
Riedel Communications Ltd
Balance Sheet (continued)
As At
31 December 2023
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Riedel Communications Ltd
Notes to the Financial Statements
For The Year Ended
31 December 2023
Notes to the Financial Statements
1.
General Information
Riedel Communications Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
05351115
. The registered office is Chaplin House Widewater Place, Moorhall Road, Harefield, Uxbridge, Middlesex, UB9 6NS.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.4.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5.
Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3.
Average Number of Employees
Average number of employees, including directors, during the year was:
| 2023 | 2022 | ||
|---|---|---|---|
| Sales, marketing and distribution |
|
|
|
|
|
|
||
Riedel Communications Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2023
4.
Tangible Assets
| Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cost | ||||
| As at
|
|
|
|
|
| Additions |
|
|
|
|
| As at
|
|
|
|
|
| Depreciation | ||||
| As at
|
|
|
|
|
| Provided during the period |
|
|
|
|
| As at
|
|
|
|
|
| Net Book Value | ||||
| As at
|
|
|
|
|
| As at
|
|
|
|
|
5.
Debtors
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| VAT |
|
|
|
|
|
|
||
Other debtors include amounts owed to Riedel Communications GmbH & Co KG: £607,772 (2022 - £236,666).
6.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
7.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 719 | 127 | |
Riedel Communications Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2023
9.
Other Commitments
At the end of the period the company had annual commitments under non-cancellable operating leases as detailed below. During the year the company occupied premises under an operating lease. The term of the lease is for a period of 10 years, commencing 2 July 2015, with a break clause on the fifth anniversary. The lease included an initial rent free period of sixteen months and a second rent free period of six months after the fifth anniversary.
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
| Later than one year and not later than five years |
|
|
|
|
|
|
||
10.
Related Party Transactions
The amounts included within sales are sales to Riedel Communications GmbH & Co KG - £2,665,280 (£803,946 - prior year)
11.
Ultimate Controlling Party
The company's ultimate controlling party is Riedel Communications GmbH & Co KG by virtue of its ownership of Riedel Communications International GmbH which owns 100% of the issued share capital of the company.