|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RENZ (UK) LIMITED |
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RENZ (UK) LIMITED |
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
|
|
|
|
|
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
RENZ (UK) LIMITED |
|
COMPANY INFORMATION |
for the Year Ended 31 December 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
AUDITORS: |
|
Chartered Accountants and Statutory Auditor |
Strelley Hall |
Main Street |
Strelley |
Nottingham |
NG8 6PE |
|
|
|
SOLICITORS: |
|
100 New Bridge Street |
London |
EC4V 6JA |
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
BALANCE SHEET |
31 December 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 9 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
on its behalf by: |
|
|
|
|
|
|
|
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2018 |
|
|
1. | STATUTORY INFORMATION |
|
RENZ (UK) Limited is a
|
company's registered number and registered office address can be found on the Company |
Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied, |
exclusive of Value Added Tax. |
|
Income arising from the sale of goods, net of value added tax, is recognised at the point the goods |
are delivered to customers. |
|
Tangible fixed assets |
|
Improvements to property | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Tangible fixed assets are stated at cost less accumulated depreciation and any recognised |
impairment loss. |
|
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. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
|
Net realisable value is based on selling price less anticipated costs to completion plus selling costs. |
|
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
|
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
|
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. |
|
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. |
|
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. |
|
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. |
|
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. |
|
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. |
|
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. |
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2018 |
|
|
|
At 31 December 2018 |
|
|
|
DEPRECIATION |
At 1 January 2018 |
|
|
|
Charge for year |
|
|
|
At 31 December 2018 |
|
|
|
NET BOOK VALUE |
At 31 December 2018 |
|
|
|
At 31 December 2017 |
|
|
|
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
|
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
|
|
|
Additions |
|
|
|
At 31 December 2018 |
|
|
|
DEPRECIATION |
At 1 January 2018 |
|
|
|
Charge for year |
|
|
|
At 31 December 2018 |
|
|
|
NET BOOK VALUE |
At 31 December 2018 |
|
|
|
At 31 December 2017 |
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
Other debtors includes deferred tax of £24,006 (2017 - £8,297) |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
|
|
7. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
8. | SECURED DEBTS |
|
Other Creditors includes £341,399 (2017 - £306,830) in respect of which security has been given in |
the form of a fixed and floating charge over all assets of the company. |
|
9. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary | £1 | 171,000 | 171,000 |
|
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
11. | FINANCIAL COMMITMENTS |
|
The company is committed to purchasing £46,294 (2017 - £134,830) in foreign currency after the |
year end. |
|
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
During the year, amounts totalling £5,195 (2017 - £2,411) were advanced to a director and |
repayments of £2,849 (2017 - £2,849) were made. The balance due by the director at the year end |
was £3,606 (2017 - £1,260). The loans were provided interest free and are repayable on demand. |
RENZ (UK) LIMITED (REGISTERED NUMBER: 02679014) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2018 |
|
|
13. | PARENT UNDERTAKING |
|
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. |