IRIS Accounts Production v24.3.2.46 02311359 director 1.1.24 31.12.24 31.12.24 Medium entities true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. A Ordinary 1.00000 B Ordinary 1.00000 A Ordinary 1.00000 B Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh023113592023-12-31023113592024-12-31023113592024-01-012024-12-31023113592022-12-31023113592023-01-012023-12-31023113592023-12-3102311359ns15:EnglandWales2024-01-012024-12-3102311359ns14:PoundSterling2024-01-012024-12-3102311359ns10:Director12024-01-012024-12-3102311359ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102311359ns10:MediumEntities2024-01-012024-12-3102311359ns10:Audited2024-01-012024-12-3102311359ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3102311359ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3102311359ns10:FullAccounts2024-01-012024-12-310231135912024-01-012024-12-3102311359ns10:OrdinaryShareClass12024-01-012024-12-3102311359ns10:OrdinaryShareClass22024-01-012024-12-3102311359ns10:RegisteredOffice2024-01-012024-12-3102311359ns5:CurrentFinancialInstruments2024-12-3102311359ns5:CurrentFinancialInstruments2023-12-3102311359ns5:ShareCapital2024-12-3102311359ns5:ShareCapital2023-12-3102311359ns5:RetainedEarningsAccumulatedLosses2024-12-3102311359ns5:RetainedEarningsAccumulatedLosses2023-12-3102311359ns5:ShareCapital2022-12-3102311359ns5:RetainedEarningsAccumulatedLosses2022-12-3102311359ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3102311359ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-310231135912024-01-012024-12-3102311359ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3102311359ns5:PatentsTrademarksLicencesConcessionsSimilar2024-01-012024-12-3102311359ns5:ComputerSoftware2024-01-012024-12-3102311359ns5:PlantMachinery2024-01-012024-12-3102311359ns5:FurnitureFittings2024-01-012024-12-3102311359ns5:MotorVehicles2024-01-012024-12-3102311359ns5:OwnedAssets2024-01-012024-12-3102311359ns5:OwnedAssets2023-01-012023-12-3102311359ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3102311359ns5:ComputerSoftware2023-01-012023-12-3102311359ns10:OrdinaryShareClass12023-01-012023-12-3102311359ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3102311359ns5:ComputerSoftware2023-12-3102311359ns5:PatentsTrademarksLicencesConcessionsSimilar2024-12-3102311359ns5:ComputerSoftware2024-12-3102311359ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3102311359ns5:ComputerSoftware2023-12-3102311359ns5:PlantMachinery2023-12-3102311359ns5:FurnitureFittings2023-12-3102311359ns5:MotorVehicles2023-12-3102311359ns5:PlantMachinery2024-12-3102311359ns5:FurnitureFittings2024-12-3102311359ns5:MotorVehicles2024-12-3102311359ns5:PlantMachinery2023-12-3102311359ns5:FurnitureFittings2023-12-3102311359ns5:MotorVehicles2023-12-3102311359ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3102311359ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3102311359ns5:WithinOneYear2024-12-3102311359ns5:WithinOneYear2023-12-3102311359ns5:BetweenOneFiveYears2024-12-3102311359ns5:BetweenOneFiveYears2023-12-3102311359ns5:AllPeriods2024-12-3102311359ns5:AllPeriods2023-12-3102311359ns5:DeferredTaxation2023-12-3102311359ns5:DeferredTaxation2024-01-012024-12-3102311359ns5:DeferredTaxation2024-12-3102311359ns10:OrdinaryShareClass12024-12-3102311359ns10:OrdinaryShareClass22024-12-3102311359ns5:RetainedEarningsAccumulatedLosses2023-12-31
REGISTERED NUMBER: 02311359 (England and Wales)















AL-KO Gardentech UK Ltd

Strategic Report, Report of the Director and

Audited Financial Statements

for the Year Ended 31 December 2024






AL-KO Gardentech UK Ltd (Registered number: 02311359)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 5

Report of the Independent Auditors 7

Statement of Comprehensive Income 11

Statement of Financial Position 12

Statement of Changes in Equity 13

Statement of Cash Flows 14

Notes to the Statement of Cash Flows 15

Notes to the Financial Statements 16


AL-KO Gardentech UK Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: S Anderson



REGISTERED OFFICE: Murray Way
Wincanton Business Park
Wincanton
Somerset
BA9 9RS



REGISTERED NUMBER: 02311359 (England and Wales)



AUDITORS: Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: National Westminster Bank plc
2 Hendford
Yeovil
Somerset
BA20 1TN

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Strategic Report
for the Year Ended 31 December 2024

The director presents his strategic report for the year ended 31 December 2024.

The results reflect the continued evolution of the company despite the continued uncertain economic and political climate during the year. The director remains convinced that we are continuing to build a company that has a firm foundation from which we can deliver future expansion and profits. All employees and management have worked hard during the year to offer an industry leading level of service and support to our customers.

One of the greatest factors in the success of the business is the weather, with the product range being seasonal gardening products it is vital that the weather conditions are favourable to encourage consumers to purchase and use the products. 2024 started wet and mild in the spring, with May being one of the warmest on record, making the grass and vegetation grow, so creating a high demand for our products. The remainder of the year was wet with not too much sunshine which was for ideal for grass growing in the UK. As a result, the demand in the market for our new high grass range of products was in high, along with our existing range of products.

Throughout 2024 the company focused on service to its customers, increasing spare parts holding and vastly improving the service and availability of spare parts in 2024 compared to previous years. This allowed for increased efficiency and cost savings in freight helping to maintain the gross margin percentage.

The turnover for the year was up on the previous year, when comparing like-for-like sales of the brands the company was up 39% on last year. This was a result of the new products we introduced into the UK market and the confidence our dealers have in our Brands. In the last 3 months of the year the company started our Pre-Season product launch for the 2025 season, and we are pleased to say that Pre-Season orders for 2024 were increased by 27.5% and we are fortunate to have orders on hand for more new products that will be produced and delivered in the new financial year. This shows that the commitment from the market is firmly behind the company and our consistent approach to deliver market leading products and the best spare parts and support to our specialist dealers' network.

REVIEW OF BUSINESS
Financial Performance

2024
£'000
2023
£'000
Change
£'000

%

Turnover 12,153 8,748 3,405 39%
Gross Profit 4,038 3,002 1,036 35%
Profit/(loss) before tax 808 304 504 166%

Strategy
Going forward we will continue with our plans to focus on our customers, and work with committed partners who have goals and values aligned with ours. Our aim is to be regarded as a trusted and reliable supplier by our customers in the industry. Offering a comprehensive range of garden machinery at competitive prices and of a high quality.

The director is confident that the company has an excellent range of garden machinery and associated products, although we are always looking to review and strengthen the product portfolio including investing in R&D for new products for the UK market designed specifically for the UK market we believe there continues to be large opportunities to offer a quality product, with back up and support of our specialist dealer network.


AL-KO Gardentech UK Ltd (Registered number: 02311359)

Strategic Report
for the Year Ended 31 December 2024


Ongoing Brexit implications
The company continues to review the implications for trade as a result of Brexit and has addressed all areas relating to imports, exports and foreign exchange which may be impacted. The companys' key suppliers and customers are situated in the EEC, therefore this has been addressed as a priority. The Republic of Ireland sales area continues to be managed by our parent company.

Operating costs
Continuous measures have been put in place to ensure that operating costs are kept to a level that reflected turnover. Where possible operating costs were reduced while maintaining the service and continuing to invest in the parts of the business that will continue to provide long term sustainability and growth.

Capital expenditure
We continue to invest to improve the company. Our main expenditure is the maintenance of the company vehicles and plant & equipment for use in the warehouse to increase efficiency which is ongoing.

Performance indicators
The director monitors key performance indicators in addition to the more traditional financial statements and sales pipeline information that is provided to the parent each month.

PRINCIPAL RISKS AND UNCERTAINTIES
Credit risk
The company's principal financial assets are cash, trade debtors and related party inter-company balances. The credit risk associated with cash is limited. The principal credit risk arises therefore from its trade debtors which are widely spread and again the risk is limited.
The company, and group generally, maintains cash reserves to mitigate any future perceived risk.

Foreign exchange risk
Foreign exchange risk is a key area of operations as a result of significant trade undertaken in Euros and US Dollars. The company has processes in place to minimise this risk, in conjunction with group policies and procedures, to reduce exposure to currency fluctuations.

Climate sustainability
As a business supplying products for use in the garden and outdoor space we feel a need to take actions where possible to reduce our impact on the climate and work towards being a sustainable business. We generate power from Solar Panels at our site in Wincanton to generate over 25,000 kW's of electricity in the financial year 2024. Additionally we continue where possible we will try to purchase recyclable products for packaging material to reduce the amount of waste going to landfill. For shipments leaving our warehouse we have worked with our packaging supplier to develop new boxes that minimise the volumetric space of package, this means we are able to increase the amount of packages that can be loaded on to each truck and reduce the total carbon footprint of the goods from our company to our customers. These are small actions along with working to optimise our product packaging to increase pallet and container quantities to reduce the CO2 in the product life cycle by increasing the quantity that can be shipped in the same space.


AL-KO Gardentech UK Ltd (Registered number: 02311359)

Strategic Report
for the Year Ended 31 December 2024


Principal risks
We recognise that stock valuation and stock turnover are the key to our profitability and management monitors these areas on a regular basis. Our fixed overheads and staffing levels are under constant review to enable us to respond to any downturn or upturn in the market that may require an overhead adjustment. All areas of our business review stock values on a regular basis, and adjustments are and will be made for slow moving and obsolete items.

The company uses various financial instruments. These include financing, cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.

The existence of these financial instruments exposes the company to a number of financial risks, which are described below in more detail.

The main risks arising are cash flow interest rate risk, credit risk and liquidity risk. The director reviews and agrees policies for managing each of these risks and they are summarised below. These policies have remained unchanged from previous years.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The maturity of any borrowings is set out in the notes to the financial statements.

Interest rate risk
The company finances its operations through a mixture of retained profits and asset finance. The exposure to interest rate fluctuations on borrowings is managed by the use of fixed facilities.

ON BEHALF OF THE BOARD:





S Anderson - Director


6 February 2025

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Report of the Director
for the Year Ended 31 December 2024

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the import, distribution and sales of commercial and consumer horticultural machinery and associated spare parts. The core business activities take place in the UK.

DIVIDENDS
No dividends were declared or paid during the year.

DIRECTOR
S Anderson held office during the whole of the period from 1 January 2024 to the date of this report.

The director shown below was in office at 31 December 2024 but did not hold any interest in the following:

A Ordinary shares of £1 each
B Ordinary shares of £1 each

at 1 January 2024 or 31 December 2024.

S Anderson

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Report of the Director
for the Year Ended 31 December 2024


AUDITORS
The auditors, Maxwells, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S Anderson - Director


6 February 2025

Report of the Independent Auditors to the Members of
AL-KO Gardentech UK Ltd

Opinion
We have audited the financial statements of AL-KO Gardentech UK Ltd (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 31 December 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
AL-KO Gardentech UK Ltd


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 five, 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.

Report of the Independent Auditors to the Members of
AL-KO Gardentech UK Ltd


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:

Identifying and assessing potential risks to irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- Obtaining an understanding of the nature of the industry and sector in which the business operates and focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company.
- Enquiring of management, including reviewing supporting documentation concerning the company's policies and procedures relating to:
a) Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance.
b) Detecting and responding to the risks of fraud and whether they have knowledge of any factual, suspected or alleged fraud.
c) The internal controls established to mitigate risks related to fraud or non- compliance with laws and regulations
- Discussing with the audit engagement team regarding how and where fraud might occur in the financial statements and potential indications of fraud.

Audit response to risks identified
As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

Our procedures to respond to risks identified included the following:
- Enquiring of management and those charged with governance concerning actual and potential litigation and claims.
- Reviewing minutes of meetings of those charged with governance and reviewing correspondence with HMRC.
- Performing analytical review procedures to identify and unusual or unexpected transactions that may indicate risks of material misstatement due to fraud.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business.

There are inherent limitations in our audit procedures described above. The more removed those 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.

Report of the Independent Auditors to the Members of
AL-KO Gardentech UK Ltd


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.




Adam Turrell (Senior Statutory Auditor)
for and on behalf of Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF

6 February 2025

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Statement of Comprehensive Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   

TURNOVER 4 12,153,332 8,747,965

Cost of sales 8,115,710 5,746,168
GROSS PROFIT 4,037,622 3,001,797

Distribution costs 528,652 390,335
Administrative expenses 2,725,403 2,361,376
3,254,055 2,751,711
783,567 250,086

Other operating income 24,782 54,211
OPERATING PROFIT and
PROFIT BEFORE TAXATION 808,349 304,297

Tax on profit 7 244,897 42,826
PROFIT FOR THE FINANCIAL YEAR 563,452 261,471

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

563,452

261,471

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 20,007 8,816
Tangible assets 10 174,231 272,280
194,238 281,096

CURRENT ASSETS
Stocks 11 2,650,355 2,194,102
Debtors 12 3,200,508 1,994,060
Cash at bank 586,772 790,961
6,437,635 4,979,123
CREDITORS
Amounts falling due within one year 13 2,477,900 1,742,462
NET CURRENT ASSETS 3,959,735 3,236,661
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,153,973

3,517,757

PROVISIONS FOR LIABILITIES 15 511,650 438,886
NET ASSETS 3,642,323 3,078,871

CAPITAL AND RESERVES
Called up share capital 16 200 200
Retained earnings 17 3,642,123 3,078,671
SHAREHOLDERS' FUNDS 3,642,323 3,078,871

The financial statements were approved by the director and authorised for issue on 6 February 2025 and were signed by:





S Anderson - Director


AL-KO Gardentech UK Ltd (Registered number: 02311359)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 200 6,317,200 6,317,400

Changes in equity
Dividends - (3,500,000 ) (3,500,000 )
Total comprehensive income - 261,471 261,471
Balance at 31 December 2023 200 3,078,671 3,078,871

Changes in equity
Total comprehensive income - 563,452 563,452
Balance at 31 December 2024 200 3,642,123 3,642,323

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Statement of Cash Flows
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (188,554 ) 3,485,881
Tax paid (11,108 ) 32,786
Net cash from operating activities (199,662 ) 3,518,667

Cash flows from investing activities
Purchase of intangible fixed assets (17,936 ) (1,320 )
Purchase of tangible fixed assets (7,112 ) (123,316 )
Sale of tangible fixed assets 20,521 22,913
Net cash from investing activities (4,527 ) (101,723 )

Cash flows from financing activities
Equity dividends paid - (3,500,000 )
Net cash from financing activities - (3,500,000 )

Decrease in cash and cash equivalents (204,189 ) (83,056 )
Cash and cash equivalents at beginning of
year

2

790,961

874,017

Cash and cash equivalents at end of year 2 586,772 790,961

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Statement of Cash Flows
for the Year Ended 31 December 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.12.24 31.12.23
£    £   
Profit before taxation 808,349 304,297
Depreciation charges 91,201 84,619
Loss/(profit) on disposal of fixed assets 183 (2,291 )
899,733 386,625
(Increase)/decrease in stocks (456,253 ) 284,926
(Increase)/decrease in trade and other debtors (1,216,778 ) 3,225,961
Increase/(decrease) in trade and other creditors 584,744 (411,631 )
Cash generated from operations (188,554 ) 3,485,881

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 586,772 790,961
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 790,961 874,017


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank 790,961 (204,189 ) 586,772
790,961 (204,189 ) 586,772
Total 790,961 (204,189 ) 586,772

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

AL-KO Gardentech UK Ltd 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. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable Accounting Standards and estimation techniques, and on a going concern basis.

The director has reviewed cash-flow forecasts for at least 12 months from the date of the accounts signing to ensure the company can maintain its day-to-day services, fulfill its statutory obligations and meet future obligations to creditors and other stakeholders.

The director believes the company to be a going concern.

Critical accounting judgements and key sources of estimation uncertainty
In applying the company's accounting policies, which are described in note 3, management is required to make:

- judgements (other than those involving estimations) that have a significant impact on the amounts recognised; and

- estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on the despatch of goods and subsequent invoicing.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Office equipment - 20% on cost
Motor vehicles - 20% on cost

Assets are disclosed in the financial statements at cost based on invoiced values.

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of average cost and net realisable value, after making due allowance of obsolete and slow moving items based on established formula and oversight.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Warranty provision
Provision is made where appropriate for warranty costs on products sold. The provision is calculated by reference to the length of the warranty period and the costs incurred in the previous 12 months.

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

5. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 1,012,294 918,552
Social security costs 110,471 126,251
Other pension costs 41,565 40,924
1,164,330 1,085,727

The average number of employees during the year was as follows:
31.12.24 31.12.23

Management and administration 4 4
Sales, marketing & distribution 14 14
18 18

31.12.24 31.12.23
£    £   
Director's remuneration 191,600 179,662
Director's pension contributions to money purchase schemes 11,100 12,530

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24 31.12.23
£    £   
Other operating leases 300,000 300,000
Depreciation - owned assets 84,457 77,869
Loss/(profit) on disposal of fixed assets 183 (2,291 )
Patents and licences amortisation 500 434
Computer software amortisation 6,245 6,317
Auditors' remuneration 23,000 22,013
Foreign exchange differences (4,419 ) 7,716

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 270,901 19,612
Prior year adjustments (8,504 ) (32,786 )
Total current tax 262,397 (13,174 )

Deferred tax (17,500 ) 56,000
Tax on profit 244,897 42,826

UK corporation tax has been charged at 25% (2023 - 25%).

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:

31.12.24 31.12.23
£    £   
Profit before tax 808,349 304,297
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

202,087

76,074

Effects of:
Expenses not deductible for tax purposes 48,525 768
Income not taxable for tax purposes - (1,006 )
Capital allowances in excess of depreciation - (12,910 )
Depreciation in excess of capital allowances 20,289 -
Utilisation of tax losses - (43,314 )
R&D tax credit received/ prior year adjustments (8,504 ) (32,786 )
Deferred tax movement (17,500 ) 56,000
Total tax charge 244,897 42,826

8. DIVIDENDS
31.12.24 31.12.23
£    £   
A Ordinary shares of £1 each
Interim - 3,500,000

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. INTANGIBLE FIXED ASSETS
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 January 2024 4,998 352,262 357,260
Additions - 17,936 17,936
At 31 December 2024 4,998 370,198 375,196
AMORTISATION
At 1 January 2024 986 347,458 348,444
Amortisation for year 500 6,245 6,745
At 31 December 2024 1,486 353,703 355,189
NET BOOK VALUE
At 31 December 2024 3,512 16,495 20,007
At 31 December 2023 4,012 4,804 8,816

10. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2024 300,766 230,491 239,240 770,497
Additions - 7,112 - 7,112
Disposals - - (28,233 ) (28,233 )
At 31 December 2024 300,766 237,603 211,007 749,376
DEPRECIATION
At 1 January 2024 230,918 180,505 86,794 498,217
Charge for year 16,290 27,348 40,819 84,457
Eliminated on disposal - - (7,529 ) (7,529 )
At 31 December 2024 247,208 207,853 120,084 575,145
NET BOOK VALUE
At 31 December 2024 53,558 29,750 90,923 174,231
At 31 December 2023 69,848 49,986 152,446 272,280

11. STOCKS
31.12.24 31.12.23
£    £   
Goods for resale 2,650,355 2,194,102

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 2,844,920 1,663,134
Amounts owed by group undertakings 326,894 283,746
Other debtors - 10,340
Prepayments and accrued income 28,694 36,840
3,200,508 1,994,060

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 1,107,212 477,103
Corporation Tax 270,901 19,612
Social security and other taxes 354,231 162,376
Accruals and deferred income 745,556 1,083,371
2,477,900 1,742,462

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 303,973 304,767
Between one and five years 300,000 603,575
603,973 908,342

15. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 26,500 44,000
Warranty provision 485,150 394,886
511,650 438,886

Deferred
tax
£   
Balance at 1 January 2024 44,000
Credit to Statement of Comprehensive Income during year (17,500 )
Balance at 31 December 2024 26,500

AL-KO Gardentech UK Ltd (Registered number: 02311359)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 A Ordinary £1 100 100
100 B Ordinary £1 100 100
200 200

The different classes of ordinary share rank equally in all respects.

17. RESERVES
Retained
earnings
£   

At 1 January 2024 3,078,671
Profit for the year 563,452
At 31 December 2024 3,642,123

18. 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 group entities.

The company's immediate parent company is AL-KO Gardentech UK Holdings Limited, a company incorporated in England & Wales.

19. ULTIMATE CONTROLLING PARTY

The controlling party is AL-KO Gardentech UK HoldingsLimited.

The companys' ultimate parent company is Primepulse SE, a company incorporated in Germany. Its registered office is Promenadeplatz 12, 80333 Munchen, Germany. This company is deemed the ultimate controlling party.