REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2024 |
for |
TREPKO (UK) LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2024 |
for |
TREPKO (UK) LIMITED |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TREPKO (UK) LIMITED |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
11 Slayleigh Avenue |
Sheffield |
South Yorkshire |
S10 3RA |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Share premium | 13 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Trepko (UK) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover comprises the invoiced value of machine manufacture and installation contract services, machine servicing, and the supply of machine parts, excluding value added tax. Turnover is recognised on completion of machine servicing works, on the delivery of machine parts, or in the case of the manufacture of machines, in accordance with the contract terms, with contracts ongoing over the year end treated in accordance with the accounting policy set out under the heading "stock and work in progress". |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
No depreciation is provided on the freehold property, as a result of the net realisable value of the freehold property being at least equal to cost. |
Stock and work in progress |
Stock, which comprises machine parts and tooling, is valued at the lower of cost and net realisable value. Cost is determined on a first in, first out basis. Work in progress, which comprises both machines under manufacture, and completed machines which are for resale or are rented out to customers, is valued at the lower of cost and net realisable value. |
Machine contract work in progress is stated at cost, net of amounts transferred to cost of sales, less any foreseeable losses and progress payments received and receivable, not matched with turnover. A foreseeable loss is that which is currently estimated to arise over the duration of any contract, irrespective of the amount of work carried out at the balance sheet date. |
Profit on machine contracts is recognised when the outcome of machine contracts can be assessed with reasonable certainty, and is that amount which is estimated to reflect fairly the profit arising up to the accounting date. Profit on machine contracts is recognised in the profit and loss account as the difference between the reported turnover, and the related costs. |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
The company also enters into forward foreign exchange contracts, to buy and sell currency at a fixed exchange rate, at a future date. These contacts are translated into sterling at the rate of exchange at the year end, and any exchange rate difference between the contract exchange rate, and the year end exchange rate, are taken into account in arriving at the operating result. |
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. |
Debtors and creditors due within one year |
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any loss arising from impairment is recognised in the statement of comprehensive income within administrative expenses. |
Impairment |
At each balance sheet date, assets not measured at fair value are reviewed for any indication that the asset may be impaired at the balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount, where the impairment loss is recognised as a revaluation reduction. |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | STOCKS |
31.12.24 | 31.12.23 |
£ | £ |
Stocks |
Work-in-progress |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contract |
Other debtors |
Prepayments |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Payments on account |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
VAT |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.12.24 | 31.12.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between one and two years: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.24 | 31.12.23 |
£ | £ |
Bank overdrafts |
Bank loans |
The bank loan and overdraft are secured by an unlimited guarantee dated 30th January 2017, provided by the parent company, Trepko A/S, and a debenture dated 2nd December 2022, creating a fixed and floating charge over the assets of the company. |
11. | PROVISIONS FOR LIABILITIES |
31.12.24 | 31.12.23 |
£ | £ |
Deferred taxation |
Deferred |
tax |
£ |
Balance at 1 January 2024 |
Accelerated Capital Allowances |
Balance at 31 December 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
value: | £ | £ |
Ordinary | £1 | 750,000 | 750,000 |
13. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 January 2024 | 1,742,135 |
Profit for the year |
At 31 December 2024 | 2,022,451 |
The share premium represents the premium arising on the issue of shares. The retained earnings represents cumulative profits and losses, net of dividends and other adjustments. |
TREPKO (UK) LIMITED (REGISTERED NUMBER: 02514342) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
15. | 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. |
16. | ULTIMATE PARENT COMPANY |
The parent company is Trepko A/S, a company incorporated in Denmark. The ultimate holding company is HC Holding Investeringsaktieselskab, a company also incorporated in Denmark. |