Company Registration No. 00694081 (England and Wales)
SIEBTECHNIK TEMA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
343,665
359,194
Investments
4
44,574
44,574
388,239
403,768
Current assets
Stocks
152,960
159,505
Debtors
5
387,156
410,845
Cash at bank and in hand
1,061,762
1,038,473
1,601,878
1,608,823
Creditors: amounts falling due within one year
6
(260,765)
(148,901)
Net current assets
1,341,113
1,459,922
Total assets less current liabilities
1,729,352
1,863,690
Provisions for liabilities
(49,108)
(50,291)
Net assets
1,680,244
1,813,399
Capital and reserves
Called up share capital
7
304,574
304,574
Profit and loss reserves
1,375,670
1,508,825
Shareholders' funds
1,680,244
1,813,399
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 17 June 2021 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 2020
- 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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
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.
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
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 replacement cost and 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.
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 3 -
1.5
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
1.6
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.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
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 lease
s
asset are consumed.
1.9
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.
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 12
(2019 - 13).
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2020
61,116
927,827
988,943
Additions
54,115
54,115
Disposals
(21,000)
(21,000)
At 31 December 2020
61,116
960,942
1,022,058
Depreciation and impairment
At 1 January 2020
24,431
605,318
629,749
Depreciation charged in the year
1,222
64,543
65,765
Eliminated in respect of disposals
(17,121)
(17,121)
At 31 December 2020
25,653
652,740
678,393
Carrying amount
At 31 December 2020
35,463
308,202
343,665
At 31 December 2019
36,685
322,509
359,194
4
Fixed asset investments
2020
2019
£
£
Investments
44,574
44,574
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2020 & 31 December 2020
44,574
Carrying amount
At 31 December 2020
44,574
At 31 December 2019
44,574
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 5 -
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
263,676
284,864
Corporation tax recoverable
23,467
34,128
Amounts due from group undertakings
99,137
90,105
Prepayments and accrued income
876
1,748
387,156
410,845
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
74,367
14,004
Amounts owed to group undertakings
52,546
78,848
Taxation and social security
34,658
32,562
Accruals and deferred income
99,194
23,487
260,765
148,901
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
304,574 Ordinary shares of £1 each
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
S
enior
S
tatutory
A
uditor was
Charlotte Toemaes
of
Ellacotts Audit Services Limited
.
9
Financial commitments, guarantees and contingent liabilities
At 31 December 2020 the company had outstanding commitments of £163,920 (2019 - £218,560) 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.
SIEBTECHNIK TEMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 6 -
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.