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REGISTERED NUMBER: 02514342 (England and Wales)















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: M L Grundy
H C Hansen
J B Hansen
J O Knudsen





SECRETARY: M L Grundy





REGISTERED OFFICE: Marshall Way
Heapham Road Industrial Estate
Gainsborough
Lincolnshire
DN21 1GD





REGISTERED NUMBER: 02514342 (England and Wales)





AUDITORS: S Burgess & Co Ltd
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 1,425,533 1,397,439

CURRENT ASSETS
Stocks 5 1,347,387 1,376,025
Debtors 6 1,152,795 945,915
Cash at bank and in hand 109,814 294,569
2,609,996 2,616,509
CREDITORS
Amounts falling due within one year 7 1,043,843 1,238,228
NET CURRENT ASSETS 1,566,153 1,378,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,991,686

2,775,720

CREDITORS
Amounts falling due after more than one
year

8

(187,500

)

(262,500

)

PROVISIONS FOR LIABILITIES 11 (31,735 ) (21,085 )
NET ASSETS 2,772,451 2,492,135

CAPITAL AND RESERVES
Called up share capital 12 750,000 750,000
Share premium 13 700,200 700,200
Retained earnings 13 1,322,251 1,041,935
SHAREHOLDERS' FUNDS 2,772,451 2,492,135

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by:




M L Grundy - Director


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 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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 20% on cost

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 45 (2023 - 41 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 1,200,000 663,225 115,370 166,784 2,145,379
Additions - 3,269 2,336 74,064 79,669
Disposals - - - (61,903 ) (61,903 )
At 31 December 2024 1,200,000 666,494 117,706 178,945 2,163,145
DEPRECIATION
At 1 January 2024 - 481,887 111,889 154,164 747,940
Charge for year - 39,715 1,511 10,349 51,575
Eliminated on disposal - - - (61,903 ) (61,903 )
At 31 December 2024 - 521,602 113,400 102,610 737,612
NET BOOK VALUE
At 31 December 2024 1,200,000 144,892 4,306 76,335 1,425,533
At 31 December 2023 1,200,000 181,338 3,481 12,620 1,397,439

5. STOCKS
31.12.24 31.12.23
£    £   
Stocks 678,798 657,844
Work-in-progress 668,589 718,181
1,347,387 1,376,025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 566,071 756,227
Amounts owed by group undertakings 281,419 3,352
Amounts recoverable on contract 249,314 130,542
Other debtors 19,069 12,376
Prepayments 36,922 43,418
1,152,795 945,915

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) 134,577 156,360
Payments on account 439,030 184,711
Trade creditors 48,272 227,887
Amounts owed to group undertakings 170,648 416,300
Social security and other taxes 48,622 46,148
VAT 90,738 3,679
Accruals and deferred income 111,956 203,143
1,043,843 1,238,228

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans (see note 9) 187,500 262,500

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 59,577 81,360
Bank loans 75,000 75,000
134,577 156,360

Amounts falling due between one and two years:
Bank loans 75,000 75,000

Amounts falling due between two and five years:
Bank loans 112,500 187,500

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 59,577 81,360
Bank loans 262,500 337,500
322,077 418,860

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 31,735 21,085

Deferred
tax
£   
Balance at 1 January 2024 21,085
Accelerated Capital Allowances 10,650
Balance at 31 December 2024 31,735

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
750,000 Ordinary £1 750,000 750,000

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2024 1,041,935 700,200 1,742,135
Profit for the year 280,316 280,316
At 31 December 2024 1,322,251 700,200 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.

Steven Burgess ACA (Senior Statutory Auditor)
for and on behalf of S Burgess & Co Ltd

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.