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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Schauenburg Technical Solutions Ltd. |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Schauenburg Technical Solutions Ltd. |
Schauenburg Technical Solutions Ltd. (Registered number: 04126555) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Schauenburg Technical Solutions Ltd. |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
Chartered Accountants & Business Advisers |
Britannia House |
Marshall's Yard |
Gainsborough |
Lincolnshire |
DN21 2NA |
Schauenburg Technical Solutions Ltd. (Registered number: 04126555) |
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Balance Sheet |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Schauenburg Technical Solutions Ltd. (Registered number: 04126555) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Schauenburg Technical Solutions Ltd. is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Revenue is recognised on the completion of production orders. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Plant and machinery | - 20% on cost |
Office equipment | - 20% on cost |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Stock received under consignment belongs to the consignor until used and is therefore excluded from the |
company's inventories. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Foreign currencies |
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 transaction. Exchange differences are taken into account in arriving at the operating result. |
Schauenburg Technical Solutions Ltd. (Registered number: 04126555) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the income statement on a straight line basis over the |
period of the lease. |
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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 the income statement in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Office |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group companies |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Amounts owed to group companies |
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Taxation and social security |
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Other creditors |
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Schauenburg Technical Solutions Ltd. (Registered number: 04126555) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 112,500 | 112,500 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | OTHER FINANCIAL COMMITMENTS |
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At the year end the company had pension commitments of £1,165 (2017: £468) |
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11. | RELATED PARTY DISCLOSURES |
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During the year the company purchased goods from connected parties from within the group amounting to |
£74,191 (2017: £33,937). At the year end the company owed these connected parties £23,381 (2017: £55,495). |
The company also sold goods in the year to connected parties from within the group amounting to £26,381 |
(2017: £Nil). At the year end these connected parties owed the company £8,095 (2017: £8,095). |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Flexhold Limited (Incorporated in England and Wales). |
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The ultimate controlling party is
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Group accounts can be obtained from: |
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Weseler Strasse 35, |
45478 Muelheim an der Ruhr, |
Germany |