REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 December 2020 |
|
for |
|
DELLNER WOODVILLE LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 December 2020 |
|
for |
|
DELLNER WOODVILLE LIMITED |
DELLNER WOODVILLE LIMITED (REGISTERED NUMBER: 06709671) |
|
|
|
|
|
|
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 |
|
DELLNER WOODVILLE LIMITED |
|
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
|
|
|
|
|
|
Directors: |
|
|
|
|
|
|
|
|
|
|
|
Registered office: |
|
|
|
|
|
|
|
|
|
Registered number: |
|
|
|
|
|
|
Auditors: |
|
Chartered Accountants & Statutory Auditor |
10 Stadium Business Court |
Millennium Way |
Pride Park |
Derby |
DE24 8HP |
DELLNER WOODVILLE LIMITED (REGISTERED NUMBER: 06709671) |
|
Statement of Financial Position |
31 DECEMBER 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 6 |
|
|
Tangible assets | 7 |
|
|
Investments | 8 |
|
|
|
|
|
Current assets |
Stocks |
|
|
Debtors | 9 |
|
|
Cash at bank and in hand |
|
|
|
|
Creditors |
Amounts falling due within one year | 10 |
|
|
Net current assets |
|
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities | 12 |
|
|
Net assets |
|
|
|
Capital and reserves |
Called up share capital |
|
|
Retained earnings |
|
|
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
DELLNER WOODVILLE LIMITED (REGISTERED NUMBER: 06709671) |
|
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
1. | STATUTORY INFORMATION |
|
Dellner Woodville is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
|
2. | STATEMENT OF COMPLIANCE |
|
These financial statements have been prepared in accordance with the provisions of Section 1A "Small |
Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
|
The financial statements are prepared in sterling, which is the functional currency of the entity. |
|
Preparation of consolidated financial statements |
The financial statements contain information about Dellner Woodville Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Dellner Bubenzer Group AB, Teknikergatan 1, 78170 Borlange, Sweden. |
|
Judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
|
Provisions |
|
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. |
|
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
|
Revenue recognition |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. |
|
Revenue is recognised when goods are dispatched and services are supplied. |
|
Amortisation |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: |
|
Goodwill - 5 years |
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual |
value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. |
DELLNER WOODVILLE LIMITED (REGISTERED NUMBER: 06709671) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
3. | ACCOUNTING POLICIES - continued |
|
Tangible fixed assets |
|
Leasehold property | - |
|
Fixtures and fittings | - |
|
Equipment | - |
|
|
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated |
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded |
at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
|
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other |
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease |
of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised |
in profit or loss. |
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Stocks |
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs in bringing the stock to its present location and condition. |
|
Stock is valued on a FIFO (first-in, first-out) basis. Provision is made for obsolete, slow-moving or defective items where appropriate. |
|
Taxation |
The taxation expense represents the aggregate amount of current and deferred tax recognised in the |
reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised |
in other comprehensive income or directly in equity, respectively. |
|
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or |
substantively enacted at the reporting date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and |
other deferred tax assets are recognised to the extent that it is probable that they will be recovered against |
the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to |
the reversal of the timing difference. |
|
Foreign currencies |
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. |
DELLNER WOODVILLE LIMITED (REGISTERED NUMBER: 06709671) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
3. | ACCOUNTING POLICIES - continued |
|
Impairment of fixed assets |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount |
being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at |
each reporting date. |
|
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, as estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. |
|
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units. |
|
Defined contribution plans |
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. |
|
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discount present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
5. | AUDITORS' REMUNERATION |
|
Fees payable for the audit of the financial statements were £10,000 (2019 - £9,500). |
|
6. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 January 2020 |
and 31 December 2020 |
|
Amortisation |
At 1 January 2020 |
and 31 December 2020 |
|
Net book value |
At 31 December 2020 |
|
At 31 December 2019 |
|
DELLNER WOODVILLE LIMITED (REGISTERED NUMBER: 06709671) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | and | Motor |
property | fittings | vehicles | Equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 January 2020 |
|
|
|
|
|
Disposals | ( |
) | ( |
) |
|
( |
) | ( |
) |
At 31 December 2020 |
|
|
|
|
|
Depreciation |
At 1 January 2020 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
Eliminated on disposal | ( |
) | ( |
) |
|
( |
) | ( |
) |
At 31 December 2020 |
|
|
|
|
|
Net book value |
At 31 December 2020 |
|
|
|
|
|
At 31 December 2019 |
|
|
|
|
|
|
8. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
|
At 31 December 2020 |
|
Net book value |
At 31 December 2020 |
|
|
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
VAT |
|
|
Prepayments and other debtors |
|
|
|
|
|
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Accrued expenses |
|
|
|
|
DELLNER WOODVILLE LIMITED (REGISTERED NUMBER: 06709671) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
11. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
12. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 1,638 | 4,338 |
Other provisions | 116,464 | - |
|
|
|
Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 January 2020 |
|
|
Provided during year |
|
|
Credit to Statement of Income and Retained Earnings during year | ( |
) |
|
Balance at 31 December 2020 |
|
|
|
Other provisions relate to ongoing legal matters in relation to a customer dispute. The amount is provided in respect of managements best judgement of future expected legal costs and is expected to be settled within 12 months of the reporting date. |
|
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
14. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
|
15. | CONTROLLING PARTY |
|
The directors consider the immediate parent company to be Dellner Bubenzer Group AB, a company which is registered in Sweden. |
|
The ultimate parent undertaking is Hyperbolicum B.V., a company registered in the Netherlands. |
|
The parent undertaking of the smallest group to consolidate these financial statements is Dellner Bubenzer Group AB. |
|
The parent undertaking of the largest group to consolidate these financial statements is Hyperbolicum B.V. |
|
Copies of the accounts of Hyperbolicum B.V. can be obtained from the company's registered office. |
|
The ultimate controlling parties of Hyperbolicum B.V. are Mr G Dellner and Mr C Nicolin. |