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REGISTERED NUMBER: 12006410 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

ACCURIDE UK HOLDINGS LIMITED

ACCURIDE UK HOLDINGS LIMITED (REGISTERED NUMBER: 12006410)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACCURIDE UK HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







Directors: D H Modrycki
Mr F G Nelson, II





Secretary: Vistra Cosec Limited





Registered office: Suite 1,
7th Floor 50 Broadway,
London
SW1H 0BL





Registered number: 12006410 (England and Wales)





Auditors: Fuller & Roper Limited
Chartered Accountants and Statutory Auditors
12 Old Mills Industrial Estate
Paulton
BS39 7SU

ACCURIDE UK HOLDINGS LIMITED (REGISTERED NUMBER: 12006410)

BALANCE SHEET
31 MAY 2023

31/5/23 31/5/22
Notes $    $   
CURRENT ASSETS
Debtors 5 3,278 4,436
Cash at bank 27 3,163
3,305 7,599
CREDITORS
Amounts falling due within one year 6 (1,536,865 ) (1,519,161 )
NET CURRENT LIABILITIES (1,533,560 ) (1,511,562 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,533,560

)

(1,511,562

)

CAPITAL AND RESERVES
Called up share capital 1,051 1,051
Share premium 1,048,950 1,048,950
Retained earnings (2,583,561 ) (2,561,563 )
SHAREHOLDERS' FUNDS (1,533,560 ) (1,511,562 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 February 2024 and were signed on its behalf by:





D H Modrycki - Director


ACCURIDE UK HOLDINGS LIMITED (REGISTERED NUMBER: 12006410)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Accuride UK Holdings Limited is a private company, limited by shares , registered in England and Wales. 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 ($) and these have been rounded to the nearest $.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Accuride UK Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Accuride Corporation, 7140 Office Circle, Evansville, Indiana,USA.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Foreign currencies
Assets and liabilities in foreign currencies are translated into US dollar($) at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollar($) at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The directors consider the company to be a going concern, despite the losses incurred and the net current liabilities position. The directors have received assurances from the parent company, Accuride Corporation, that sufficient funding will be made available to assist the company in meeting its obligations for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

ACCURIDE UK HOLDINGS LIMITED (REGISTERED NUMBER: 12006410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. FIXED ASSET INVESTMENTS



Shares in
group
undertakings
$
Cost
B/fwd 2,516,355
Additions -
Disposals -
C/fwd 2,516,355

Impairment
B/fwd 2,516,355
Movement -
C/fwd 2,516,355

Net Book Value
At 31/05/2023 -

At 31/05/2022 -

The above represents an investment in Accuride Trading (Shanghai) Co. Ltd - a wholly owned subsidiary of the company.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
$    $   
Other debtors 3,278 4,436

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
$    $   
Trade creditors 3,362 7,067
Amounts owed to group undertakings 1,520,852 1,495,430
Other creditors 12,651 16,664
1,536,865 1,519,161

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Simon Roper (Senior Statutory Auditor)
for and on behalf of Fuller & Roper Limited

8. POST BALANCE SHEET EVENTS

After the end of the period, the company's subsidiary, Accuride Trading (Shanghai) Co. Ltd, has been dissolved.

9. CONTROLLING PARTY

The immediate parent company is Accuride Corporation, a company incorporated in the United States. The ultimate parent company is considered to be Accuride Group Holdings Inc, incorporated in the United States, and controlled by private equity funds affiliated to Crestview Advisors LLC.