REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
COMPLEO CHARGING SOLUTIONS UK LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
COMPLEO CHARGING SOLUTIONS UK LIMITED |
COMPLEO CHARGING SOLUTIONS UK LIMITED (REGISTERED NUMBER: 11097731) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COMPLEO CHARGING SOLUTIONS UK LIMITED |
Company Information |
for the year ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
11 Laura Place |
Bath |
BA2 4BL |
COMPLEO CHARGING SOLUTIONS UK LIMITED (REGISTERED NUMBER: 11097731) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
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 and authorised for issue on |
COMPLEO CHARGING SOLUTIONS UK LIMITED (REGISTERED NUMBER: 11097731) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Compleo Charging Solutions UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The company continues to develop its position in the EV charging market and was as such is loss making in the year. Budgets have been prepared and profits are anticipated in the coming years. |
The parent company has confirmed the intention to continue to support the company until a profit |
making position is reached, and has confirmed the facilities in place will remain until the company is in |
a position to repay them. |
On this basis the directors are satisfied that the company is a going concern and therefore the financial statements are prepared on a going concern basis. |
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 measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
Sale of goods |
Turnover is recognised when control of products has transferred, being when products have been delivered to the customer or, if installation is included, when installation has been completed. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Computer software is being amortised evenly over the remainder of its estimated useful life of one year. |
Tangible fixed assets |
Office Equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
COMPLEO CHARGING SOLUTIONS UK LIMITED (REGISTERED NUMBER: 11097731) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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. |
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. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
COMPLEO CHARGING SOLUTIONS UK LIMITED (REGISTERED NUMBER: 11097731) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Office |
Equipment |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
7. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Prepayments |
COMPLEO CHARGING SOLUTIONS UK LIMITED (REGISTERED NUMBER: 11097731) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
7. | DEBTORS - continued |
2023 | 2022 |
£ | £ |
Amounts falling due after more than one year: |
Deferred tax asset | 504,409 | 504,409 |
Aggregate amounts |
The deferred tax asset represents the anticipated benefit of the tax losses carried forwards. |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT | 64,174 | 36,600 |
Other creditors |
Accruals and deferred income |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 4,500,000 | 4,500,000 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | OTHER FINANCIAL COMMITMENTS |
At the period end, the total of future minimum lease payments under non-cancellable operating leases was £243,078 (2022: £255,978). |
12. | PARENT COMPANY |
The immediate parent company is KOSTAL Beteiligungsgesellschaft 3 mbH. |
The ultimate parent company is KOSTAL Beteiligungsgesellschaft 2 mbH, a company incorporated in Germany. The results of the company are included in the consolidated financial statements of the ultimate parent company. |