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REGISTERED NUMBER: 03204417 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KONTRON UK LIMITED

KONTRON UK LIMITED (REGISTERED NUMBER: 03204417)

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


KONTRON UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D Johnson





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 03204417 (England and Wales)





AUDITORS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Statutory Auditors
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

KONTRON UK LIMITED (REGISTERED NUMBER: 03204417)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - 7,653
Tangible assets 5 67,321 93,233
Investments 6 9,500 9,500
76,821 110,386

CURRENT ASSETS
Stocks 1,507,568 1,319,521
Debtors 7 1,084,470 1,821,511
Cash at bank 2,337,535 1,291,326
4,929,573 4,432,358
CREDITORS
Amounts falling due within one year 8 1,418,238 1,502,731
NET CURRENT ASSETS 3,511,335 2,929,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,588,156

3,040,013

PROVISIONS FOR LIABILITIES 2,051 2,051
NET ASSETS 3,586,105 3,037,962

CAPITAL AND RESERVES
Called up share capital 172,550 172,550
Share premium 144,525 144,525
Retained earnings 3,269,030 2,720,887
SHAREHOLDERS' FUNDS 3,586,105 3,037,962

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





D Johnson - Director


KONTRON UK LIMITED (REGISTERED NUMBER: 03204417)

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


1. STATUTORY INFORMATION

Kontron 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.

The financial statements are presented in Sterling (£), which is also the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest whole £1.

The principal accounting policies, and details of significant judgements and estimations, adopted in the preparation of the financial statements, are set out below:

Preparation of consolidated financial statements
The financial statements contain information about Kontron UK 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, Kontron AG, 4021 Linz, Austria.

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.

Turnover from the sales of goods is recognised when all of the following conditions are satisfied:

- The company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- The amount of revenue can be measured reliably;
- It is probable that the economic benefits associated with the transactions will flow to the company; and
- The costs incurred in respect of the transaction can be measured reliably.

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.

Amortisation is provided using the sum of digits method in order to write off each asset over its estimated useful life of 5 years.

Tangible fixed 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
Fixtures and fittings - 33% on cost

Tangible fixed assets are stated at cost less depreciation.

KONTRON UK LIMITED (REGISTERED NUMBER: 03204417)

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


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined using the averaging method. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments
Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 taxation
Deferred tax is recognised in respect of all material 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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

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.

KONTRON UK LIMITED (REGISTERED NUMBER: 03204417)

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


2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Grant income
Grant income, shown in other operating income, relates to revenue and is recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Provisions
Provisions are measured at the best estimate (including risks and uncertainties) of the expenditure required to settle the obligation at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023
and 31 December 2023 459,114
AMORTISATION
At 1 January 2023 451,461
Charge for year 7,653
At 31 December 2023 459,114
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 7,653

KONTRON UK LIMITED (REGISTERED NUMBER: 03204417)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£ £ £
COST
At 1 January 2023 148,321 193,209 341,530
Additions - 23,785 23,785
At 31 December 2023 148,321 216,994 365,315
DEPRECIATION
At 1 January 2023 123,015 125,282 248,297
Charge for year 25,306 24,391 49,697
At 31 December 2023 148,321 149,673 297,994
NET BOOK VALUE
At 31 December 2023 - 67,321 67,321
At 31 December 2022 25,306 67,927 93,233

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2023
and 31 December 2023 9,500
NET BOOK VALUE
At 31 December 2023 9,500
At 31 December 2022 9,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Trade debtors 982,619 1,726,697
Amounts owed by group undertakings 50,511 51,269
Other debtors 51,340 43,545
1,084,470 1,821,511

KONTRON UK LIMITED (REGISTERED NUMBER: 03204417)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Trade creditors 147,086 517,314
Amounts owed to group undertakings 812,636 709,825
Taxation and social security 381,833 184,536
Other creditors 76,683 91,056
1,418,238 1,502,731

9. LEASING AGREEMENTS

At the balance sheet date the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £203,623 (2022: £75,605).

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

The Report of the Auditors was unqualified.

Sam Ede BFP FCA FCCA (Senior Statutory Auditor)
for and on behalf of Lewis Brownlee (Chichester) Limited

11. ULTIMATE CONTROLLING PARTY

The Company's immediate parent undertaking is Kontron Europe GmbH, a company incorporated in Germany. The registered office for Kontron Europe GmbH is Gutenbergstrasse 2, Ismaning 85737, Germany. The Company's Ultimate Controlling party is Kontron AG, incorporated in Austria, into which the Company is consolidated. The Consolidated Financial Statements of Kontron AG are available at the registered office for Kontron AG, 4021 Linz, Austria.