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Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Reginox UK Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Reginox UK Limited |
Reginox UK Limited (Registered number: 03711442) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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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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Reginox UK Limited |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTOR: |
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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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Statutory Auditors |
The Glades |
Festival Way |
Stoke on Trent |
Staffordshire |
ST1 5SQ |
Reginox UK Limited (Registered number: 03711442) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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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 Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director on
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Reginox UK Limited (Registered number: 03711442) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Reginox 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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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements cover the company as an individual entity, have been prepared under the |
historical cost convention and are presented in Pounds Sterling (£) being the functional currency. |
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The financial statements have been prepared on the assumption that the company is able to carry on |
business as a going concern, which the director considers appropriate having regard to the company's |
current and expected performance. |
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Reginox B.V. have agreed to fully support Reginox UK Ltd financially and will not seek repayment of the |
loans due to them beyond that of which Reginox UK Ltd can afford to repay, or reduce the terms of the |
trade credit arrangements between them. |
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Turnover |
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the |
goods are physically delivered to the customer. |
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Tangible fixed assets |
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Freehold property | - |
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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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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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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible |
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in |
profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value |
with changes recognised in profit or loss. |
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Foreign currencies |
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 transaction. Exchange differences are taken into account in arriving at the |
operating result. |
Reginox UK Limited (Registered number: 03711442) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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3. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the |
contractual provisions of the instrument. |
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Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the |
assets of the company after deducting all of its liabilities. |
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(i) Financial assets and liabilities |
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All financial assets and liabilities are initially measured at transaction price (including transaction costs), |
except for those financial assets classified as at fair value through profit or loss, which are initially |
measured at fair value (which is normally the transaction price excluding transaction costs), unless the |
arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, |
the financial asset or financial liability is measured at the present value of the future payments |
discounted at a market rate of interest for a similar debt instrument. |
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Financial assets and liabilities are only offset in the statement of financial position when, and only when |
there exists a legally enforceable right to set off the recognised amounts and the company intends either |
to settle on a net basis, or to realise the asset and settle the liability simultaneously. |
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Financial assets are derecognised when and only when (a) the contractual rights to the cash flows from |
the financial asset expire or are settled, (b) the company transfers to another party substantially all of |
the risks and rewards of ownership of the financial asset, or (c) the company, despite having retained |
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to |
another party. |
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Financial liabilities are derecognised only when the obligation specified in the contract is discharged, |
cancelled or expires. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Reginox UK Limited (Registered number: 03711442) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Improvements |
Freehold | to | Plant and |
property | property | machinery |
£ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2017 |
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Additions |
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Disposals | ( |
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At 31 December 2017 |
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DEPRECIATION |
At 1 January 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Reginox UK Limited (Registered number: 03711442) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
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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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed to group undertakings |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Loan from Reginox BV | 844,144 | 853,242 |
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A loan of €950,000 (2016: €1,000,000) is owed to Reginox BV, the parent company. This amount has been |
translated at the year end to £844,144 (2016: £853,242) and is repayable over 20 years. The loan is |
secured over the land & buildings and all other assets of the company (including fixed assets, debtors, |
stock and cash). |
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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. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of the exemption in S17 of FRS 8 from the requirement to disclose |
certain related party transactions with its parent company. Copies of the group accounts can be obtained |
from Reginox BV, Noordermorssingel 2, Postbus 82, 7460 AB, Rijssen, Holland. |
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12. | ULTIMATE CONTROLLING PARTY |
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W ter Steege controlled the company by virtue of a controlling interest of 100% of the issued share capital |
of the ultimate parent company, Supercom B.V. |