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REGISTERED NUMBER:
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RENZ (UK) LIMITED |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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REGISTERED NUMBER:
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RENZ (UK) LIMITED |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016 |
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RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2016 |
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Page |
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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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RENZ (UK) LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 December 2016 |
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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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Chartered Accountants and Statutory Auditor |
Strelley Hall |
Main Street |
Strelley |
Nottingham |
NG8 6PE |
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SOLICITORS: |
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100 New Bridge Street |
London |
EC4V 6JA |
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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BALANCE SHEET |
31 December 2016 |
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2016 | 2015 |
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 |
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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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CAPITAL AND RESERVES |
Called up share capital | 9 |
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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
its behalf by: |
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RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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RENZ (UK) Limited is a
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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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Transition to Financial Reporting Standard 102 |
These financial statements are the first annual financial statements of the company prepared in |
accordance with Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial |
Reporting Standard applicable in the UK and Republic of Ireland" (FRS102). The first date at which |
this was applied was 1 January 2015. There is no effect on the accounting policies and the opening |
equity and profit for the prior year. |
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Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied, |
exclusive of Value Added Tax. |
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Income arising from the sale of goods, net of value added tax, is recognised at the point the goods |
are delivered to customers. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Tangible fixed assets are stated at cost less accumulated depreciation and any recognised |
impairment loss. |
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The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful |
economic lives and residual values of the assets. The useful economic lives and residual values are |
reassessed annually. They are amended when necessary to reflect current estimates, future |
investments and the physical condition of the assets. |
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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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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Net realisable value is based on selling price less anticipated costs to completion plus selling costs. |
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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 |
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates |
of exchange ruling at the balance sheet date.Transactions in foreign currencies are translated into |
sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in |
the income statement. |
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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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 profit or loss on a straight line basis over the |
period of the lease. |
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Assets held under finance leases, which are leases where substantially all the risks and rewards of |
ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible |
assets and are depreciated over their useful lives. The capital elements of future obligations under |
the leases are included as liabilities in the balance sheet. The interest element of the rental obligation |
is charged to the profit and loss account over the period of the lease and represents a constant |
proportion of the balance of capital repayments oustanding. |
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Assets held under hire purchase agreements are capitalised as tangible fixed assets and are |
depreciated over their useful lives. The capital element of future finance payments is included within |
creditors. Finance charges are allocated to accounting periods over the length of the contract. |
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Pension costs and other post-retirement benefits |
Pension contributions are made to the directors' personal pension schemes and are charged to the |
profit and loss account when paid. No further liabilities arise in this respect. |
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Invoice discounting |
Amounts due in respect of invoice discounting are included within other creditors. The company can |
use these facilities to draw down a percentage of the value of certain sales invoices. The |
management and collection of trade debtors remains with the company. |
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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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RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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Other debtors includes deferred tax of £4,948 (2015 - £nil) |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
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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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2016 | 2015 |
£ | £ |
Within one year |
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Between one and five years |
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8. | SECURED DEBTS |
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Other Creditors includes £213,617 (2015 - £233,021) in respect of which security has been given in |
the form of a fixed and floating charge over all assets of the company. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 171,000 | 171,000 |
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2016 |
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10. | 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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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended |
31 December 2016 and 31 December 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The loan was provided interest free and is repayable on demand. |
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12. | PARENT UNDERTAKING |
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The smallest group which includes Renz (UK) Limited in its consolidated financial statements is Chr. |
Renz GmbH, a company incorporated in Germany. The registered office of Chr. Renz GmbH is |
Rechbergstraße 44, 73540, Heubach, Germany. |