Registration number:
for the Year Ended
Bodum (U.K.) Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Bodum (U.K.) Limited
(Registration number: 01848144)
Balance Sheet as at 31 December 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
( |
( |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
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Bodum (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The directors consider it appropriate to prepare these financial statements on a going concern basis. The Board recognises, despite economic uncertainty, the economic risks prevalent at this time and has reviewed available forecasts and performed sensitivity analysis on revenues, costs and margins in assessing the ability to continue as a going concern.
Accordingly, the Board has concluded that there is reasonable expectation that the company has the resources to continue in operational existence for the foreseeable future and has, for this reason, adopted the going concern basis in preparing the financial statements.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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Bodum (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated but continue to be translated at historic rate.
Tax
The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold buildings and improvements |
5-10 years, but no longer than lease period |
Motor vehicles |
5 years |
Fixtures, fittings, furniture and equipment |
3-10 years |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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Bodum (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Bodum (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
Tangible assets |
Leasehold buildings and improvements |
Motor vehicles |
Fixtures, fittings, furniture and equipment |
Total |
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Cost or valuation |
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At 1 January 2018 |
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Additions |
- |
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- |
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Disposals |
- |
( |
- |
( |
At 31 December 2018 |
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Depreciation |
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At 1 January 2018 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
( |
At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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At 31 December 2017 |
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Debtors |
2018 |
2017 |
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Trade debtors |
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Amounts owed by group undertakings |
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- |
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Prepayments and accrued income |
25,681 |
32,121 |
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Bodum (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
Creditors |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
- |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
395,245 |
177,966 |
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Amounts owed to group undertakings are unsecured, repayable on demand and interest free.
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of guarantees not included in the balance sheet is £10,000 (2017 - £10,000). This guarantee is provided to HM Customs and Excise.
Relationship between entity and parents |
The parent of the largest group in which these financial statements are consolidated is
The address of Bodum Holding AG is:
The most senior parent entity producing publicly available financial statements is Bodum Holding AG. These financial statements are available upon request from Kantonsstrasse 100, Triengen, 6234, Switzerland
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