IRIS Accounts Production
v17.2.1.52
03920060
director
1.1.16
31.12.16
31.12.16
26.9.2017
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Auditors Opinion
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2016-12-31
REGISTERED NUMBER:
03920060
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016
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Statement of Financial Position
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2
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Notes to the Financial Statements
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3
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REGISTERED OFFICE:
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C/O Wilkins Kennedy LLP
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Anglo House, Bell Lane Office Village
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REGISTERED NUMBER:
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03920060
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AUDITORS:
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Wilkins Kennedy LLP
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Tangible assets
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4
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16,984
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|
5,396
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|
Debtors
|
5
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1,892,123
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949,699
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|
Cash at bank and in hand
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1,659,430
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748,090
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|
Amounts falling due within one year
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6
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(1,729,744
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) |
(1,002,805
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) |
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NET CURRENT ASSETS
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1,821,809
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694,984
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TOTAL ASSETS LESS CURRENT
LIABILITIES
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1,838,793
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700,380
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Called up share capital
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30,000
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30,000
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Retained earnings
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1,808,793
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670,380
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SHAREHOLDERS' FUNDS
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1,838,793
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700,380
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|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on
25 September 2017 and were signed by:
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Seeburger UK Limited is a private company, limited by shares, registered in England and Wales. The
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company's registered number and registered office address can be found on the Company Information
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Basis of preparing the financial statements
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These financial statements have been prepared in accordance with the provisions of Section 1A "Small
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Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK
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and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared
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under the historical cost convention.
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These financial statements for the year ended 31 December 2016 are the first financial statements that
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comply with Section 1A "Small Entities" of Financial Reporting Standard 102. The company
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transitioned from previously extant UK GAAP to FRS 102 as at 1 January 2015. An explanation of how
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transition to FRS 102 Section 1A "Small Entities" has affected the reported financial position and
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financial performance is given in a note to the accounts
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
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'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
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party transactions with wholly owned subsidiaries within the group.
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Significant judgements and estimates
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The preparation of financial statements requires management to make judgements, estimates and
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assumptions about the carrying values of assets and liabilities that are not readily apparent from other
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sources. The estimates and underlying assumptions are based on historical experience and other
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factors that are considered to be relevant. Actual results may differ from these estimates.
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The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to
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accounting estimates are recognised in the period in which the estimate is revised if the revision
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affects only that period, or in the period of the revision and future periods if the revision affects both
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current and future periods.
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Financial reporting standard 102 - reduced disclosure exemptions
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The company has taken advantage of the following disclosure exemptions in preparing these financial
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statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and
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- the requirements of Section 7 Statement of Cash Flows;
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Turnover represents net invoiced sales of goods and services, excluding value added tax and adjusted
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for accrued revenue calculated by reference to the fair value of services performed up to the balance
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sheet date but not invoiced.
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Turnover from the rendering of services is recognised by reference to the stage of completion of the
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contract. The stage of completion of a contract is measured by comparing the costs incurred for work
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performed to date to the total estimated contract costs. Turnover is only recognised to the extent of
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recoverable expenses when the outcome of a contract cannot be estimated reliably.
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant and machinery etc
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-
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33.3% on cost |
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Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the
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current or past reporting periods using tax rates that have been enacted or substantively enacted by
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Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax
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losses and other deferred tax assets are recognised only to the extent that it is probable that they will
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be recovered against future taxable profits or against the reversal of deferred tax liabilities.
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Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the
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reporting date that are expected to apply to the reversal of the timing difference.
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Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
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the statement of financial position date. Transactions in foreign currencies are translated into sterling
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at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account
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in arriving at the operating result.
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Pension costs and other post-retirement benefits
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The company operates a defined contribution pension scheme. Contributions payable to the
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company's pension scheme are charged to profit or loss in the period to which they relate.
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The company recognises an accrual for accumulated annual leave accrued by employees as a result
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of services rendered in the current period for which employees can carry forward and use within the
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next year. The accrual is measured at the salary cost of the respective employee in relation to the
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Trade and other receivables
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Trade and other receivables are measured at transaction price less any impairment unless the
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arrangement constitutes a financing transaction in which case the transaction is measured at the
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present value of the future receipts discounted at the prevailing market rate of interest . Loans are
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initially measured at fair value and are subsequently measured at amortised cost using the effective
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interest method less any impairment.
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Trade and other payables are measured at their transaction price unless the arrangement constitutes a
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financing transaction in which case the transaction is measured at present value of future payments
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discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair
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value net of their transaction costs. They are subsequently measured at amortised cost using the
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effective interest method.
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Cash at bank in the balance sheet comprise cash at banks and in hand and short term deposits with
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an original maturity date of three months or less.
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3.
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EMPLOYEES AND DIRECTORS
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The average number of employees during the year was
11 .
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leasehold
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machinery
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Totals
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At 1 January 2016
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1,575
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|
51,132
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|
52,707
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|
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|
Additions
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-
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|
15,027
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|
15,027
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|
|
|
Disposals
|
-
|
|
(3,482
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) |
(3,482
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) |
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|
At 31 December 2016
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1,575
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|
62,677
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|
64,252
|
|
|
|
At 1 January 2016
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1,575
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|
45,736
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|
47,311
|
|
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|
Charge for year
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-
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|
3,439
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|
3,439
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|
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|
Eliminated on disposal
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-
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|
(3,482
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) |
(3,482
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) |
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At 31 December 2016
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1,575
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|
45,693
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|
47,268
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|
|
|
At 31 December 2016
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-
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|
16,984
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|
16,984
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|
|
|
At 31 December 2015
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-
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|
5,396
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|
5,396
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|
|
5.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Trade debtors
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1,662,914
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|
908,378
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Other debtors
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229,209
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|
41,321
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|
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Included in trade debtors are balances due from group companies amounting to £44,702 (2015:
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6.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Trade creditors
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419,101
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351,142
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Taxation and social security
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424,119
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162,831
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|
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Other creditors
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886,524
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488,832
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Included in trade creditors are balances due to group companies amounting to £391,602 (2015:
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Minimum lease payments under non-cancellable operating leases amounted to £24,490 (2015:
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8.
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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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|
David Cary LLB FCA Senior Statutory Auditor
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for and on behalf of
Wilkins Kennedy LLP |
9.
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ULTIMATE PARENT COMPANY
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The Ultimate Parent Company is Seeburger AG, a company incorporated in Germany, by virtue of its
|
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100% shareholding in the Company.
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Seeberger AG prepares consolidated financial statements in which the company's results are included
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and copies are available from Edisonstraße 1D-75015 Bretten (bei Karlsruhe).
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The policies applied under the Company's previous accounting framework are not materially different
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to the requirements of FRS 102 and have not impacted on equity or profit and loss.
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