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Registered number: 03590632









Kleen-Tex Holdings (UK) Limited









Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2024

 
Kleen-Tex Holdings (UK) Limited
Registered number: 03590632

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2,996,559
2,996,559

Current assets
  

Debtors: amounts falling due within one year
 5 
-
497

Cash at bank and in hand
 6 
853
4,592

  
853
5,089

Creditors: amounts falling due within one year
 7 
(661,383)
(669,052)

Net current liabilities
  
 
 
(660,530)
 
 
(663,963)

Total assets less current liabilities
  
2,336,029
2,332,596

  

Net assets
  
2,336,029
2,332,596


Capital and reserves
  

Called up share capital 
  
801,000
801,000

Capital contribution reserve
  
1,731,388
1,731,388

Profit and loss account
  
(196,359)
(199,792)

  
2,336,029
2,332,596


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Simms
Director

Date: 12 September 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
Kleen-Tex Holdings (UK) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 May 2024

1.


General information

Kleen-Tex Holdings (UK) Limited is a private company limited by shares and incorporated in England. The address of the registered office and principal place of business is Unit 717 Eddington Way, Birchwood Park, Warrington, WA3 6BA. The company's registered number is 03590632.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company relies on the continued financial support from its subsidiary undertakings to enable it to continue operating and meet its liabilities as they fall due. Such financial support is confirmed by the subsidiary undertakings and the directors therefore consider it appropriate to prepare the financial statements on a going concern basis.  

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 2

 
Kleen-Tex Holdings (UK) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.10

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 and creditors, loans from banks and other third parties and
loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other
accounts receivable and payable, are initially measured at present value of the future cash flows and
subsequently at amortised cost using the effective interest method. Debt instruments that are payable or
receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
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 Statement of Comprehensive Income.
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.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of
the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

  
2.11

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
Kleen-Tex Holdings (UK) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 May 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
2,996,559



At 31 May 2024
2,996,559





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Kleen-Tex Industries Limited
Unit 717 Eddington Way, Birchwood Park, Warrington, WA3 6BA.
Ordinary
  100%
The Turtle Mat Company Limited
Unit 717 Eddington Way, Birchwood Park, Warrington, WA3 6BA.
Ordinary
  100%

Page 4

 
Kleen-Tex Holdings (UK) Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 May 2024

5.


Debtors

2024
2023
£
£


Prepayments and accrued income
-
497



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
853
4,592



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
287,490

Amounts owed to group undertakings
660,357
381,078

Corporation tax
812
-

Accruals and deferred income
214
484

661,383
669,052


Secured loans
On 23 November 2016, a bank loan arrangement was entered into for €2,200,000. The loan was repaid in full on 31st May 2024.   This loan was secured by means of a fixed and floating charge against the assets of the group.


8.


Controlling party

The immediate parent company is Kleen-Tex Industries in Europa GmbH, a company incorporated in Austria. The address of the registered office of the immediate parent is Fürhölzl 2, 6341 Ebbs, Austria. The ultimate parent company is Kleen-Tex Industries Inc, a company registered in the USA. The address of the registered office of the ultimate parent is 210 Lukken Industrial Dr. E, LaGrange, GA 30241, USA.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2024 was unqualified.

The audit report was signed on 13 September 2024 by John Glover (senior statutory auditor) on behalf of Hurst Accountants Limited.

Page 5