REGISTERED NUMBER: |
Strategic Report, Report of the Director and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Leki Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Director and |
Financial Statements for the Year Ended 30 June 2024 |
for |
Leki Limited |
Leki Limited (Registered number: 04092155) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 3 |
Report of the Independent Auditors | 5 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Notes to the Financial Statements | 12 |
Leki Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
823 Salisbury House |
29 Finsbury Circus |
London |
EC2M 5QQ |
BANKERS: |
74/75 East Street |
Chichester |
West Sussex |
PO19 1HR |
Leki Limited (Registered number: 04092155) |
Strategic Report |
for the Year Ended 30 June 2024 |
The director presents his strategic report for the year ended 30 June 2024. |
REVIEW OF BUSINESS |
In 2023/24 the turnover amounted to kUSD 25,587 against kUSD 20,823 last year. The income statement for 2023/24 shows a profit of kUSD 1,613 against kUSD 1,722 last year. |
In the light of the massive market pressure the director considers the result for the year and the financial position at the year-end acceptable. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The Company's operations expose it to a variety of financial risks, where the main risks include the following: |
FOREIGN EXCHANGE RISK |
The company's reporting currency is USD as the main part of the company's sales transaction and cash flows are dominated in USD, and that the group's reporting currency is USD. |
The company's other cost are largely incurred in local currencies, and therefore the company's result is impacted by the movements in the local currency. |
Management finds that the benefits from hedging currency risks are limited and the company does therefore not use financial instruments for hedging purposes. |
CREDIT RISK |
The company runs credit checks on its customer on a regular basis. The limits are checked and monitored constantly to ensure that they are kept to the terms. |
PRICE RISK AND STOCK OBSOLESCENCE |
The company is exposed to price risk as a direct result of its trading as well as a risk of stock obsolescence exists. The company monitor the stock on an ongoing basis. |
KEY PERFORMANCE INDICATORS |
The key financial performance indicators reviewed by the management via the monthly management accounts are sales, gross margin, overhead, stock levels and profit before tax and are compared with the comparative position in previous years and the budget. |
ON BEHALF OF THE BOARD: |
23 August 2024 |
Leki Limited (Registered number: 04092155) |
Report of the Director |
for the Year Ended 30 June 2024 |
The director presents his report with the financial statements of the company for the year ended 30 June 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the supply of new and used commercial aircraft parts. |
DIVIDENDS |
An interim dividend of $ |
The total distribution of dividends for the year ended 30 June 2024 will be $ |
FUTURE DEVELOPMENTS |
It is managements intention to continue the positive development and changes that have taken place in the Company in the past years. |
It is further the intention to implement additional qualified resources to support the existing teams. |
DIRECTOR |
RESULTS |
The Company's profit for the year amounted to USD 1,612,711. |
POST BALANCE SHEET EVENTS |
No post balance sheet events have occurred since 30 June 2024 which requires reporting or disclosing in the accounts. |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
Leki Limited (Registered number: 04092155) |
Report of the Director |
for the Year Ended 30 June 2024 |
AUDITORS |
Krogh & Partners Limited, Chartered Accountants & Registered Auditors have signified their willingness to continue in office. A resolution to re-appoint them will be proposed at the Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Leki Limited (Registered number: 04092155) |
Opinion |
We have audited the financial statements of Leki Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Leki Limited (Registered number: 04092155) |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
- | the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- | we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge of the business; |
- | we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, and anti-bribery; |
- | we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
- | identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
Report of the Independent Auditors to the Members of |
Leki Limited (Registered number: 04092155) |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- | making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
- | considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls, we: |
- | performed analytical procedures to identify any unusual or unexpected relationships; |
- | tested journal entries to identify unusual transactions; |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- | agreeing financial statement disclosures to underlying supporting documentation; |
- | enquiring of management as to actual and potential litigation and claims; |
- | reviewing correspondence with HMRC and relevant regulators |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
823 Salisbury House |
29 Finsbury Circus |
London |
EC2M 5QQ |
Leki Limited (Registered number: 04092155) |
Income Statement |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Notes | $ | $ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 5 |
Interest receivable and similar income | 7 |
2,165,507 | 2,165,158 |
Interest payable and similar expenses | 8 |
PROFIT BEFORE TAXATION |
Tax on profit | 9 |
PROFIT FOR THE FINANCIAL YEAR |
Leki Limited (Registered number: 04092155) |
Other Comprehensive Income |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Notes | $ | $ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Leki Limited (Registered number: 04092155) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | $ | $ | $ | $ |
FIXED ASSETS |
Tangible assets | 11 |
Investments | 12 |
CURRENT ASSETS |
Stocks | 13 |
Debtors | 14 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 15 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 17 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 18 |
Retained earnings | 19 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
Leki Limited (Registered number: 04092155) |
Statement of Changes in Equity |
for the Year Ended 30 June 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
$ | $ | $ |
Balance at 1 July 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2024 |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Leki Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows. |
Preparation of consolidated financial statements |
The financial statements contain information about Leki Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 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, KIM KRØJBY HOLDING ApS, Weendam Alle 28, 2791 Dragør. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover from sales and trading and finished goods is recognized as turnover when the transition of the main benefits and risks to the buyer, the turnover can be made up reliably and payment is expected to be received. The time of release of the most essential benefits and risks based on standardized delivery conditions based on Incoterms 2010. |
Turnover is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in turnover. |
Administration expenses |
Administrative expenses comprise expenses for rent, management, insurance, office expenses, depreciation, etc. |
Staff cost |
Staff costs comprise wages and salaries, and social security contributions, pension contribution etc. for entity |
staff. |
Interest and similar income and charges |
Interest and similar income and charges are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount. |
Foreign currencies |
Transactions denominated in foreign currencies are recorded at the rates of exchange ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at period end rates. The resulting exchange differences are dealt with in the profit and loss account in the period to which they arise. |
Tangible assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Short leasehold | in accordance with the property lease |
Plant and machinery | 20% per annum, straight line basis |
Fixtures and fittings | 20% per annum, straight line basis |
Motor vehicles | 20% per annum, straight line basis |
Computer equipment | 33% per annum, straight line basis |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Consignment stock is not recognised as an asset of the company. Profits arising on the sale of consignment stock are divided between the consignor and the company in agreed proportions. |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Debtors are valued individually and there are made provision according to this valuation. |
Cash at bank and in hand |
Cash at bank and in hand include cash holdings and bank deposit. |
Creditors |
Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost. |
Taxation |
Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements. |
Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2024 | 2023 |
United Kingdom | 17.96% | 26.53% |
Europe | 30.52% | 29.82% |
Rest of world | 51.52% | 43.65% |
100.00% | 100.00% |
4. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
$ | $ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Sales | 3 | 3 |
Administration | 1 | 1 |
Warehouse | 3 | 3 |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | EMPLOYEES AND DIRECTORS - continued |
2024 | 2023 |
$ | $ |
Director's remuneration |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
$ | $ |
Depreciation - owned assets |
Auditors' remuneration |
Foreign exchange income/loss |
6. | EXCEPTIONAL ITEMS |
2024 | 2023 |
$ | $ |
Provision of loss on |
intercompany balance | (42,057 | ) | 103,709 |
7. | INTEREST RECEIVABLE AND SIMILAR INCOME |
2024 | 2023 |
$ | $ |
Bank interest |
Other interest |
8. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
$ | $ |
Other interest paid |
9. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
$ | $ |
Current tax: |
UK corporation tax |
Deferred tax: |
Change in deferred tax | ( |
) |
Tax on profit |
UK corporation tax has been charged at 25% . |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
$ | $ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) |
Depreciation in excess of capital allowances |
Currency impact | (7,745 | ) | 7,808 |
Total tax charge | 552,796 | 442,972 |
10. | DIVIDENDS |
2024 | 2023 |
$ | $ |
Ordinary share of 1 |
Interim |
11. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and |
leasehold | machinery | fittings |
$ | $ | $ |
COST |
At 1 July 2023 |
Additions |
Disposals |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
11. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
$ | $ | $ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
12. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
$ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
13. | STOCKS |
2024 | 2023 |
$ | $ |
Goods for resale |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
$ | $ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors and prepayments |
VAT |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
$ | $ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Other taxation and social security |
Other creditors |
Accruals and deferred income |
16. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
$ | $ |
Within one year |
17. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
$ | $ |
Deferred tax | 10,000 | - |
Deferred |
tax |
$ |
Deferred tax change | 10,000 |
Balance at 30 June 2024 |
18. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | $ | $ |
Ordinary | 1 | 2 | 2 |
Leki Limited (Registered number: 04092155) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
19. | RESERVES |
Retained |
earnings |
$ |
At 1 July 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 June 2024 |
20. | RELATED PARTY DISCLOSURES |
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. |
21. | ULTIMATE CONTROLLING PARTY |
The company is ultimately controlled by the director, K Krojby, who is also a director of the parent company, Leki Aviation A/S, which is incorporated in Denmark. |