REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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WEHR (LONDON) LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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FOR |
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WEHR (LONDON) LTD |
WEHR (LONDON) LTD (REGISTERED NUMBER: 07113561) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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WEHR (LONDON) LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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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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ACCOUNTANTS: |
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Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
WEHR (LONDON) LTD (REGISTERED NUMBER: 07113561) |
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BALANCE SHEET |
31 DECEMBER 2020 |
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2020 | 2019 |
Notes | € | € | € | € |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
WEHR (LONDON) LTD (REGISTERED NUMBER: 07113561) |
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BALANCE SHEET - continued |
31 DECEMBER 2020 |
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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 and authorised for issue on
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WEHR (LONDON) LTD (REGISTERED NUMBER: 07113561) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Wehr (London) Ltd is a
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The presentation currency of the financial statements is the Euro (€). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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 |
The financial statements are prepared in Euros, the functional currency of the company. |
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Monetary assets and liabilities denominated in foreign currencies are translated into euros at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euros at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the profit and loss account. |
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Fixed asset investments |
Investments in subsidiary undertakings are recognised at cost. |
Listed investments are recognised initially at cost and revalued to open market values. |
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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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WEHR (LONDON) LTD (REGISTERED NUMBER: 07113561) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
€ | € | € |
COST OR VALUATION |
At 1 January 2020 |
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599,020 |
Revaluations |
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85,375 |
At 31 December 2020 |
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684,395 |
NET BOOK VALUE |
At 31 December 2020 |
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684,395 |
At 31 December 2019 |
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599,020 |
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Cost or valuation at 31 December 2020 is represented by: |
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Shares in |
group | Other |
undertakings | investments | Totals |
€ | € | € |
Valuation in 2020 | - | 85,375 | 85,375 |
Valuation in 2019 | - | 112,470 | 112,470 |
Cost | 2 | 486,548 | 486,550 |
2 | 684,393 | 684,395 |
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If other investments had not been revalued they would have been included at the following historical cost: |
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2020 | 2019 |
€ | € |
Cost | 486,548 | 486,548 |
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Other investments were valued on an open market basis on 31 December 2020 by reference to market prices . |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: Spain |
Nature of business:
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Class of shares: | holding |
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€ | € |
Aggregate capital and reserves |
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Loss for the year | ( |
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WEHR (LONDON) LTD (REGISTERED NUMBER: 07113561) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
€ | € |
Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
€ | € |
Amounts owed to group undertakings |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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At 31 December 2020, €3,199,147 was due from Sea Spirit Marine S.L., a company incorporated in the Spain, a subsidiary undertaking (2019: €3,199,147). |
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At 31 December 2020, €11,247 was due from Baltic Sea Enterprises Limited, a company incorporated in the England and Wales, a group undertaking (2019: €8,094). |
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At 31 December 2020, €10,896 was due from Baltic Sea Trade Limited, a company incorporated in the England and Wales, a group undertaking (2019: €7,743). |
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At 31 December 2020, €3,532,639 was due to Seaspirit Marine Company Limited, a company incorporated in the Cyprus, a group undertaking (2019: €3,532,639). |
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At 31 December 2020, €382,571 was due to Mr J Wehr, the company's ultimate controlling party (2019: €382,571). |
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The above loans are interest free and repayable on demand. |
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8. | IMMEDIATE AND ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
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The immediate and ultimate parent undertaking is GEKO TRADE GmbH , a company incorporated in the |
Germany. |
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The ultimate controlling party is Mr J Wehr. |