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REGISTERED NUMBER: 11097731 (England and Wales)















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: S J Robertshaw
V Scheltow
P Hamela
J Lohr
J A Cowan





REGISTERED OFFICE: The Lambourn
Wyndyke Furlong
Abingdon
OX14 1UJ





REGISTERED NUMBER: 11097731 (England and Wales)





AUDITORS: Richardson Swift Audit Ltd
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 57,084 70,804
57,084 70,804

CURRENT ASSETS
Stocks 6 1,023,004 617,408
Debtors 7 1,375,202 965,978
Cash at bank 205,278 712,323
2,603,484 2,295,709
CREDITORS
Amounts falling due within one year 8 2,948,330 2,693,811
NET CURRENT LIABILITIES (344,846 ) (398,102 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(287,762

)

(327,298

)

CAPITAL AND RESERVES
Called up share capital 9 4,500,000 4,500,000
Retained earnings (4,787,762 ) (4,827,298 )
SHAREHOLDERS' FUNDS (287,762 ) (327,298 )

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 18 April 2024 and were signed on its behalf by:





S J Robertshaw - Director


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 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 25% on cost

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 11 (2022 - 11 ) .

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 142,519
Disposals (28,427 )
At 31 December 2023 114,092
AMORTISATION
At 1 January 2023 142,519
Eliminated on disposal (28,427 )
At 31 December 2023 114,092
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Office
Equipment
£   
COST
At 1 January 2023 80,235
Additions 9,203
At 31 December 2023 89,438
DEPRECIATION
At 1 January 2023 9,431
Charge for year 22,923
At 31 December 2023 32,354
NET BOOK VALUE
At 31 December 2023 57,084
At 31 December 2022 70,804

6. STOCKS
2023 2022
£    £   
Stocks 1,023,004 617,408

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 818,136 407,955
Other debtors 30,614 45,364
Prepayments 22,043 8,250
870,793 461,569

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 1,375,202 965,978

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 186,417 138,334
Amounts owed to group undertakings 2,371,483 2,170,628
Social security and other taxes 18,781 57,863
VAT 64,174 36,600
Other creditors 434 3,000
Accruals and deferred income 307,041 287,386
2,948,330 2,693,811

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000,000 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.

Catherine Edwards BSc FCA (Senior Statutory Auditor)
for and on behalf of Richardson Swift Audit Ltd

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.