EWM Hightec Welding UK Ltd - Accounts to registrar - small 17.2
EWM Hightec Welding UK Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
| FOR |
| EWM HIGHTEC WELDING UK LTD |
| EWM HIGHTEC WELDING UK LTD (REGISTERED NUMBER: 06740723) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| EWM HIGHTEC WELDING UK LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 511 Durham Road |
| Low Fell |
| Gateshead |
| Tyne and Wear |
| NE9 5EY |
| EWM HIGHTEC WELDING UK LTD (REGISTERED NUMBER: 06740723) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 31.12.16 | 31.12.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| EWM HIGHTEC WELDING UK LTD (REGISTERED NUMBER: 06740723) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| EWM HIGHTEC WELDING UK LTD (REGISTERED NUMBER: 06740723) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| EWM Hightec Welding UK Ltd is a |
| 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 |
| 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 |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| 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. |
| EWM HIGHTEC WELDING UK LTD (REGISTERED NUMBER: 06740723) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Other creditors |
| EWM HIGHTEC WELDING UK LTD (REGISTERED NUMBER: 06740723) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
| value: | £ | £ |
| Ordinary | 1 | 28,000 | 28,000 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2016 |
| Profit for the year |
| At 31 December 2016 |
| 10. | RELATED PARTY DISCLOSURES |
| Goods are purchased from EWM AG (the ultimate parent company) for sale in UK and Ireland. During 2016, |
| this has amounted to £424,005 (2015 - £529,049). At 31st December 2016 £411,735 (2015 - £307,702) |
| remains outstanding and is shown in creditors falling due within one year. |
| Goods have also been acquired from the following companies which are also wholly owned subsidiaries of |
| EWM AG: |
| EWM Hightec Welding s.r.o £369,541 (2015 - £398,121) |
| EWM Hightec Welding GmbH £11,506 (2015 - £nil) |
| Balances due at 31st December 2016 amounted to: |
| EWM Hightec Welding s.r.o £58,924 (2015 -£71,875) |
| EWM Hightec Welding GmbH £nil (2015 - £nil) |
| In addition, a loan has been made from EWM AG to the company, to assist with the initial set up of the business. |
| £59,728 (2015 - £51,523) remains outstanding at the year end and is shown in creditors falling due after more |
| than one year. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| 12. | TRANSITION TO FRS |
| This is the first year that the company has presented its financial statements under Financial Reporting Standard |
| 102 (FRS 102) issued by the Financial Reporting Council. The last financial statements for the year ended 31 |
| December 2015 were prepared under previous UK GAAP. |
| In preparing the financial statements the director has considered whether in applying the accounting policies |
| required by FRS 102 the restatement of comparative items was required. No restatements were required. |