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REGISTERED NUMBER: 01695486 (England and Wales)



















KVM UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






KVM UK LIMITED (REGISTERED NUMBER: 01695486)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 7


KVM UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: Mr L Noergaard



REGISTERED OFFICE: Unit 4 Howardson Works
Ashbourne Road
Kirk Langley
ASHBOURNE
Derbyshire
DE6 4NJ



REGISTERED NUMBER: 01695486 (England and Wales)



AUDITORS: Johnson Tidsall Limited
Chartered Accountants
& Statutory Auditor
81 Burton Road
Derby
Derbyshire
DE1 1TJ



BANKERS: Danske Bank
75 King William Street
London
EC4N 7DT

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,532 18,807

CURRENT ASSETS
Stocks 5 339,537 472,352
Debtors 6 718,006 1,229,393
Cash at bank and in hand 110 1,450
1,057,653 1,703,195
CREDITORS
Amounts falling due within one year 7 766,993 795,952
NET CURRENT ASSETS 290,660 907,243
TOTAL ASSETS LESS CURRENT
LIABILITIES

295,192

926,050

CAPITAL AND RESERVES
Called up share capital 9 15,000 15,000
Retained earnings 280,192 911,050
SHAREHOLDERS' FUNDS 295,192 926,050

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 March 2025 and were signed by:





Mr L Noergaard - Director


KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

KVM 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

- the requirements of Section 7 Statement of Cash Flows

Significant judgements and 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 revision only affects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following judgements and estimates have been made in the process of applying the company's accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Carrying value of stock - when calculating the stock provision, management considers the nature and condition of stock, together with the age of stock, and sales activity. The stock provision is £nil (2023: £nil).

Recoverability of trade debtors - amounts owed by customers are reviewed regularly for potential bad debts and a reserve is recorded if, in the directors judgement, the collectability of the balance is uncertain. The bad debt provision is £nil (2023: £nil).

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the dispatch of goods.

Service visits and equipment installations

Revenue from contracts for the provision of services and equipment installations is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Commissions

Turnover from commissions is recognised when the amount can be reliably calculated on sales made by group companies when they have been completed with customers in the UK.

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in the profit and loss account.

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 during the year are translated into sterling at the rate of exchange advised by the holding company. 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 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.

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade debtors
Trade debtors are initially recognised at transaction price less allowances for situations where recovery is doubtful. Such allowances are based on an individual assessment of each debtor.

Trade creditors
Trade creditors are measured at transaction price. The price that the company pays suppliers for goods is determined through negotiations with suppliers regarding both the list price and a variety of discounts.

Investments
Investments are included at fair value. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 27,274 14,941 25,540 24,159 91,914
Additions - - - 4,000 4,000
Disposals - - (25,540 ) - (25,540 )
At 31 October 2024 27,274 14,941 - 28,159 70,374
DEPRECIATION
At 1 November 2023 27,274 14,376 9,977 21,480 73,107
Charge for year - 141 2,918 2,571 5,630
Eliminated on disposal - - (12,895 ) - (12,895 )
At 31 October 2024 27,274 14,517 - 24,051 65,842
NET BOOK VALUE
At 31 October 2024 - 424 - 4,108 4,532
At 31 October 2023 - 565 15,563 2,679 18,807

5. STOCKS
2024 2023
£    £   
Finished goods 339,537 472,352

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 704,407 1,206,370
Corporation tax 1,357 -
Prepayments and accrued income 12,242 23,023
718,006 1,229,393

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 87,053 63,033
Trade creditors 28,673 32,831
Amounts owed to group undertakings 455,042 328,854
Corporation tax - 118,092
Social security and other taxes 3,711 7,873
VAT 144,517 193,395
Other creditors 28,832 29,379
Accruals and deferred income 19,165 22,495
766,993 795,952

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 87,053 63,033

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
13,000 Ordinary Non-Voting £1 13,000 13,000
2,000 Ordinary Voting £1 2,000 2,000
15,000 15,000

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

The Report of the Auditors was unqualified.

David Mellor FCA (Senior Statutory Auditor)
for and on behalf of Johnson Tidsall Limited

11. OTHER FINANCIAL COMMITMENTS

At 31 October 2024 the company had commitments under operating leases for equipment totalling £13,344 (2023: £16,680) and vehicles totalling £39,019 (2023: £68,995).

KVM UK LIMITED (REGISTERED NUMBER: 01695486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


12. 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 within the group.

KVM UK Limited is a wholly owned subsidiary of KVM A/S registered in Denmark. Consolidated financial statements, of which KVM UK Limited forms a part, are publicly available at Industrivej 24, 8620 Kjellerup, Denmark.

The ultimate holding company is Zefyr Invest I A/S, incorporated in Denmark.