Company registration number 00694081 (England and Wales)
SIEBTECHNIK TEMA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
SIEBTECHNIK TEMA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
SIEBTECHNIK TEMA LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
311,274
316,402
Investments
4
44,574
44,574
355,848
360,976
Current assets
Stocks
197,831
127,481
Debtors
5
383,296
390,968
Cash at bank and in hand
1,308,038
1,180,883
1,889,165
1,699,332
Creditors: amounts falling due within one year
6
(139,020)
(97,537)
Net current assets
1,750,145
1,601,795
Total assets less current liabilities
2,105,993
1,962,771
Provisions for liabilities
(42,922)
(41,825)
Net assets
2,063,071
1,920,946
Capital and reserves
Called up share capital
7
304,574
304,574
Profit and loss reserves
1,758,497
1,616,372
Total equity
2,063,071
1,920,946
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime of the Companies Act 2006.
The financial statements were approved by the board of directors and authorised for issue on 18 September 2023 and are signed on its behalf by:
Mr S Hylott
Director
Company Registration No. 00694081
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Siebtechnik Tema Limited is a private company limited by shares incorporated in England and Wales. The registered office is noted on the company information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The financial statements have been prepared undee the historical cost convention. The principal accounting policies adopted are set out below.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Leasehold improvements
2% and 20% straight line
Plant and machinery
10%, 15% and 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
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 exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.9
Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.10
Foreign exchange
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 the transaction. Exchange differences are taken into account in arriving at the operating profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
12
12
3
Tangible fixed assets
Leasehold improve-ments
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2022
62,820
977,856
1,040,676
Additions
51,105
51,105
At 31 December 2022
62,820
1,028,961
1,091,781
Depreciation and impairment
At 1 January 2022
26,881
697,393
724,274
Depreciation charged in the year
1,223
55,010
56,233
At 31 December 2022
28,104
752,403
780,507
Carrying amount
At 31 December 2022
34,716
276,558
311,274
At 31 December 2021
35,939
280,463
316,402
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
--
- 5 -
4
Fixed asset investments
2022
2021
£
£
Investment in Tema Isenmann
44,574
44,574
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
272,664
264,603
Amounts due from group undertakings
32,035
124,464
Prepayments and accrued income
78,597
1,901
383,296
390,968
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
16,327
(220)
Amounts owed to group undertakings
29,845
23,312
Corporation tax
1,477
30,012
Other taxation and social security
48,969
11,382
Accruals and deferred income
42,402
33,051
139,020
97,537
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
304,574
304,574
304,574
304,574
8
Audit report information
As the profit and loss account has been omitted from the filing copy of the financial statements the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The audit report in respect of these accounts was unqualified with no emphasis of matter. The Senior Statutory Auditor was Charlotte Toemaes of Ellacotts Audit Services Limited.
Statutory Auditor:
Ellacotts Audit Services Limited
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
9
Financial commitments, guarantees and contingent liabilities
At 31 December 2022 the company had outstanding commitments of £54,640 (2021 - £109,280) for future minimum lease payments under non-cancellable operating leases.
10
Related party transactions
In accordance with FRS 102, the company has not disclosed transactions with other group companies as its results are consolidated into the financial statements of the ultimate parent undertaking.
11
Parent company
The parent company of Siebtechnik Tema Limited is Tema Holdings N.V. by virtue of its 69% share holding. Tema Holdings N.V is a company registered in The Netherlands. Isenmann Siebe Gmbh holds the remaining 31% of the ordinary share capital.
The ultimate parent company of Siebtechnik Tema Limited is Stafag International GmbH. Stafag International GmbH group accounts can be obtained from Platanenallee 46, 45478 Mulheim an der Ruhr, Germany.