REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 23 JUNE 2019 |
|
FOR |
|
KENT H. LANDSBERG EUROPE LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 23 JUNE 2019 |
|
FOR |
|
KENT H. LANDSBERG EUROPE LIMITED |
KENT H. LANDSBERG EUROPE LIMITED (REGISTERED NUMBER: 04328243) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 23 JUNE 2019 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
KENT H. LANDSBERG EUROPE LIMITED |
|
COMPANY INFORMATION |
for the Year Ended 23 JUNE 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
INDEPENDENT AUDITORS : |
|
260 - 270 Butterfield |
Great Marlings |
Luton |
Bedfordshire |
LU2 8DL |
KENT H. LANDSBERG EUROPE LIMITED (REGISTERED NUMBER: 04328243) |
|
BALANCE SHEET |
23 JUNE 2019 |
|
2019 | 2018 |
as restated |
Notes | $ | $ |
CURRENT ASSETS |
Stocks | 4 |
|
|
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 |
|
|
Retained earnings | 3,645,321 | 3,362,602 |
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 and authorised for issue on
signed on its behalf by: |
|
|
|
|
|
|
|
KENT H. LANDSBERG EUROPE LIMITED (REGISTERED NUMBER: 04328243) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 23 JUNE 2019 |
|
1. | STATUTORY INFORMATION |
|
Kent H. Landsberg Europe Limited is a
|
The 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 US Dollar ($). |
|
|
The principal place of business is 15 Hill Street, Edinburgh, EH2 3JP. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
The financial statements have been prepared on a going concern basis, in accordance with the Companies Act |
2006 and applicable accounting standards in the United Kingdom and under the historical cost accounting rules. |
|
Going concern |
As stated in the post balance sheet event, included in the notes to the financial statements, the Coronavirus |
(COVID-19) pandemic has impacted Kent H. Landsberg Europe Limited . The directors have considered the |
financial health of the company along with the various government m easures in place to support businesses |
through this pandemic and with this in mind the directors are confi dent that the company will continue as a going |
concern for the foreseeable future. |
|
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
|
Turnover |
Turnover is based on the invoiced value from sales of goods, net of sales taxes and allowances. It is recognised |
in the profit and loss account when the significant risks and rewards of ownership have been transferred to the |
customer. |
|
Stocks |
Stocks and work-in-progress have been valued at the lower of cost, including applicable overheads, and net |
realisable value. In the case of manufactured products, costs include all direct expenditure and production |
overheads based on the normal level of activity. Where necessary, provision is made for obsolete, slow moving |
and defective stocks. |
|
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. |
|
KENT H. LANDSBERG EUROPE LIMITED (REGISTERED NUMBER: 04328243) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 23 JUNE 2019 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred taxation |
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 |
Assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange |
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
|
Transactions denominated in foreign currencies which are conducted through foreign branches are recorded at |
the average rate of exchange during the year. Monetary assets and liabilities denominated in foreign currencies |
are translated at the rate of exchange ruling at the balance sheet date. Differences arising from fluctuations in |
exchange rates are taken to the profit and loss account. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2018 -
|
|
4. | STOCKS |
2019 | 2018 |
as restated |
$ | $ |
Finished goods and goods for resale |
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
as restated |
$ | $ |
Trade debtors |
|
|
Tax |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
as restated |
$ | $ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
KENT H. LANDSBERG EUROPE LIMITED (REGISTERED NUMBER: 04328243) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 23 JUNE 2019 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
|
Amounts owed to group undertakings has no fixed rate of interest and is repayable on demand. |
|
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Auditors' Report was unqualified. |
|
|
for and on behalf of
|
|
8. | OTHER FINANCIAL COMMITMENTS |
|
At the year end there was a €25,000 guarantee in favour of Ontvanger Van De Belastingdienst. |
|
9. | POST BALANCE SHEET EVENTS |
|
Due to the Coronavirus (COVID-19) pandemic, which has affected the world in the first quarter of 2020, |
measures have been taken by various countries which have affected the trading activities of Kent H. Landsberg |
Europe Limited from March 2020. |
|
In the period to the date of signing the accounts the company has continued to trade profitably and whilst there |
are significant potential risks relating to the the trade of Kent H. Landsberg Europe Limited, to date activities |
have not been materially adversely affected. |
|
It is not possible to quantify or ascertain with any certainty whether future events associated with COVID-19 will |
have a material financial impact on the company. |
|
10. | ULTIMATE CONTROLLING PARTY |
|
The ultimate parent undertaking and controlling party is
which is the parent undertaking of the smallest and largest group to c onsolidate these financial statements. The consolidated financial statements of this group are available to the p ublic and may be obtained from Orora Limited, 109 Burwood Road, Hawthorn, Victoria, 3122, Melbourne, Austra lia. The immediate parent of the company is Orora Packaging Australia Pty Ltd, a company incorporated i n Australia. |