Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312024-01-01falseSale of car lubricant products to UK and Ireland customers.2732truetruefalse 06714738 2024-01-01 2024-12-31 06714738 2023-01-01 2023-12-31 06714738 2024-12-31 06714738 2023-12-31 06714738 2023-01-01 06714738 c:Director2 2024-01-01 2024-12-31 06714738 d:Buildings 2024-01-01 2024-12-31 06714738 d:Buildings 2024-12-31 06714738 d:Buildings 2023-12-31 06714738 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06714738 d:PlantMachinery 2024-01-01 2024-12-31 06714738 d:PlantMachinery 2024-12-31 06714738 d:PlantMachinery 2023-12-31 06714738 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06714738 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 06714738 d:CurrentFinancialInstruments 2024-12-31 06714738 d:CurrentFinancialInstruments 2023-12-31 06714738 d:Non-currentFinancialInstruments 2024-12-31 06714738 d:Non-currentFinancialInstruments 2023-12-31 06714738 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 06714738 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06714738 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 06714738 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06714738 d:ShareCapital 2024-01-01 2024-12-31 06714738 d:ShareCapital 2024-12-31 06714738 d:ShareCapital 2023-01-01 2023-12-31 06714738 d:ShareCapital 2023-12-31 06714738 d:ShareCapital 2023-01-01 06714738 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2024-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2023-12-31 06714738 d:RetainedEarningsAccumulatedLosses 2023-01-01 06714738 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 06714738 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06714738 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 06714738 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 06714738 d:RetirementBenefitObligationsDeferredTax 2024-12-31 06714738 d:RetirementBenefitObligationsDeferredTax 2023-12-31 06714738 d:OtherDeferredTax 2024-12-31 06714738 d:OtherDeferredTax 2023-12-31 06714738 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-12-31 06714738 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 06714738 c:OrdinaryShareClass1 2024-01-01 2024-12-31 06714738 c:OrdinaryShareClass1 2024-12-31 06714738 c:OrdinaryShareClass1 2023-12-31 06714738 c:FRS102 2024-01-01 2024-12-31 06714738 c:Audited 2024-01-01 2024-12-31 06714738 c:FullAccounts 2024-01-01 2024-12-31 06714738 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06714738 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06714738 d:AccountingPolicyChangeIncreaseDecrease 2024-01-01 2024-12-31 06714738 d:RetainedEarningsAccumulatedLosses d:AccountingPolicyChangeIncreaseDecrease 2024-01-01 2024-12-31 06714738 2 2024-01-01 2024-12-31 06714738 e:PoundSterling 2024-01-01 2024-12-31 06714738 d:RetainedEarningsAccumulatedLosses d:PreviouslyStatedAmount 2023-12-31 06714738 d:PreviouslyStatedAmount 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06714738









TUNAP (UK) LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TUNAP (UK) LIMITED
REGISTERED NUMBER: 06714738

BALANCE SHEET
AS AT 31 DECEMBER 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Right of use assets
 5 
747,584
-

Tangible assets
 6 
319,990
382,250

  
1,067,574
382,250

Current assets
  

Stocks
 7 
837,237
884,390

Debtors: falling due after more than one year
 8 
114,605
114,605

Debtors: amounts falling due within one year
 8 
839,787
703,022

Cash at bank and in hand
  
4,878
25,356

  
1,796,507
1,727,373

Creditors: falling due within one year
 9 
(1,523,735)
(1,208,622)

Net current assets
  
 
 
272,772
 
 
518,751

Total assets less current liabilities
  
1,340,346
901,001

Creditors: falling due after more than one year
 10 
(478,127)
-

Provisions for liabilities
  

Dilapidation provision
 12 
(51,648)
(51,648)

  
 
 
(51,648)
 
 
(51,648)

Net assets
  
810,571
849,353


Capital and reserves
  

Called up share capital 
 13 
863,616
863,616

Profit and loss account
  
(53,045)
(14,263)

  
810,571
849,353


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by on

Mrs E A Rozario
Director
Date: 27 March 2025
Page 1

 
TUNAP (UK) LIMITED
REGISTERED NUMBER: 06714738

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


The notes on pages 4 to 15 form part of these financial statements.
Page 2

 
TUNAP (UK) LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
863,616
203,759
1,067,375


Comprehensive income for the year

Loss for the year
-
(218,022)
(218,022)
Total comprehensive income for the year
-
(218,022)
(218,022)



At 1 January 2024
863,616
(14,263)
849,353

Impact of change in leases accounting policy
-
(19,725)
(19,725)


At 1 January 2024 (adjusted balance)
863,616
(33,988)
829,628


Comprehensive income for the year

Loss for the year
-
(19,057)
(19,057)
Total comprehensive income for the year
-
(19,057)
(19,057)


At 31 December 2024
863,616
(53,045)
810,571


The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
TUNAP (UK) LIMITED
 

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

1.


General information

Tunap (UK) Limited is a private Company, limited by shares, incorporated in England and Wales, their registered number is 06714738. The registered office is, Unit 12 Tonbridge Trade Park, Ingot Way, Tonbridge, Kent, TN9 1GN which is the same address as the principle place of business.
The financial statements are prepared in sterling, which is the functional currency of the Company and  rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The Company has elected to early adopt 
Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs – Periodic Review 2024.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company meets its day to day working capital requirements through a rolling three month loan facility from its sister company, Wurth Finance International B.V., a company incorporated in the Netherlands, whenever this is required. 
The directors have considered the Company's position at the time of signing the financial statements, including a review of forecasts for at least the next 12 months from approval. The directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Page 4

 
TUNAP (UK) LIMITED
 

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

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised in accordance with the model in section 23 of FRS 102 (Periodic Review 2024). This involves a 5 step process whereby:
- the contract with the a customer is identified (sales order)
- the performance obligations are identified (dispatch of goods)
- the transaction price is determined (list price of goods less any agreed discounts)
- the transaction price is allocated to the performance obligation (total price allocated to dispatch)
- the revenue is recognised when the company satisfies its performance obligations.
Due to the nature of the company's trade, its sole performance obligation is met when goods sold are dispatched to the customer. This is the point at which revenue is recognised. Sales are generally made on credit terms between 0 and 60 days. The nature of the goods are aerosols and active ingredients for industrial, technical and cosmetic applications.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.6

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 

Page 5

 
TUNAP (UK) LIMITED
 

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

2.Accounting policies (continued)

  
2.7

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 6

 
TUNAP (UK) LIMITED
 

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

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
5 to 10 years
Plant and machinery
-
3 to 10 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Finished goods include landing and duty costs.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
TUNAP (UK) LIMITED
 

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

2.Accounting policies (continued)

  
2.13

Leases

The Company assesses whether a contract is or contains a lease, at inception of a contract. The Company recognises a right-of-use asset and a corresponding lease liability with respect to all lease agreements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less) and leases of low value assets. For these leases, the Company recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate. The incremental borrowing rate has been calculated as the rate at which the Company can borrow from its' parent company.
Lease payments included in the measurement of the lease liability comprise fixed lease payments, less any lease incentives. The lease liability is included in 'Creditors' on the Balance Sheet.
The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.
The right-of-use assets comprise the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses.
Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease.
The comparative figures in these financial statements are presented under FRS 102 (January 2022), meaning such lease contracts were previously accounted for as follows:
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of lessee's benefit from the use of the leased asset.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to the Statement of Comprehensive Income.

Page 8

 
TUNAP (UK) LIMITED
 

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

2.Accounting policies (continued)

 
2.15

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from other third parties.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for income and expenditure during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. No judgments (apart from those involving estimates) have been made when preparing the financial statements.
The key assumptions concerning the future and other key sources of estimating uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:
Bad Debt Provision
Trade debtors are provided for incrementally, based on the ageing of each balance taking into account any specific credit terms. Management estimate the % provision assigned to each ageing increment using guidance provided by the parent company. The provision totalled £35,220 at the year-end (2023: £Nil).
Stock Provision
Stock is provided for incrementally, based on the ageing of each individual stock line. Management estimate the % provision assigned to each ageing increment using guidance provided by the parent company. The provision totalled £121,526 at the year-end (2023: £17,542).
Dilapidation Provision
The company leases their operating premises over a contractual period of time. A clause in the contract, as the lessee, is to restore the premises back to its original state at the end of the lease. The cost to restore has been estimated by Management using an independent third party contractor. The provision for these costs totalled £51,648 at the year-end (2023: £51,648).
Discount Rates for Lease Liabilities
The company leases their operating premises, as well as motor vehicles. There is no interest rate implicit in the leases, and cannot be readily determined. Lease liabilities are therefore discounted using the company's obtainable borrowing rate at the inception of each lease. The applicable rate is 4.75% for buildings, and rates between 1.24% and 4.58% for motor vehicles.


4.


Employees

The average monthly number of employees, including directors, during the year was 27 (2023 - 32).

Page 9

 
TUNAP (UK) LIMITED
 

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

5.


Right of use assets




Land and buildings
Motor vehicles
Total

£
£
£



Cost


At 1 January 2024
-
-
-


Impact of change in accounting policy
652,276
120,987
773,263


At 1 January 2024 (adjusted balance)
652,276
120,987
773,263


Additions
-
323,671
323,671



At 31 December 2024

652,276
444,658
1,096,934



Depreciation


At 1 January 2024
-
-
-


Charge for the year on leased assets
166,539
182,811
349,350



At 31 December 2024

166,539
182,811
349,350



Net book value



At 31 December 2024
485,737
261,847
747,584



At 31 December 2023
-
-
-



Page 10

 
TUNAP (UK) LIMITED
 

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

6.


Tangible fixed assets





Leasehold improve-ments
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2024
293,253
211,577
504,830


Additions
-
2,394
2,394



At 31 December 2024

293,253
213,971
507,224



Depreciation


At 1 January 2024
39,239
83,341
122,580


Charge for the year on owned assets
34,518
30,136
64,654



At 31 December 2024

73,757
113,477
187,234



Net book value



At 31 December 2024
219,496
100,494
319,990



At 31 December 2023
254,014
128,236
382,250


7.


Stocks

2024
2023
£
£

Finished goods and goods for resale
837,237
884,390


The carrying value of stocks are stated net of impairment losses totalling £121,526 (2023 - £17,542). Impairment losses totalling £103,984 (2023 - £14,480) were recognised in profit and loss.

The replacement value of stock is not materially different to the carrying value.

Page 11

 
TUNAP (UK) LIMITED
 

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

8.


Debtors

As restated
2024
2023
£
£

Due after more than one year

Other debtors
114,605
114,605


As restated
2024
2023
£
£

Due within one year

Trade debtors
677,019
505,969

Amounts owed by group undertakings
-
16,376

Other debtors
7,434
7,284

Prepayments and accrued income
131,057
139,888

Deferred taxation
24,277
33,505

839,787
703,022



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
36,179
70,217

Amounts owed to group undertakings
690,148
827,621

Other taxation and social security
215,372
140,946

Lease liabilities
302,388
-

Other creditors
3,934
3,909

Accruals and deferred income
275,714
165,929

1,523,735
1,208,622


Included within amounts owed to group undertakings, is a rolling three month loan facility of £500,000 (2023: £500,000) on which interest is accrued at a rate of 6.65% (2023: 7.10%). Also included within amounts owed to group undertakings, is a net loan facility amounting to £74,418 (2023: £284,130) which accrues interest at rates between 2.00% - 7.70% (2023: 2.45% - 7.85%). Otherwise amounts owed to group undertakings are interest free, unsecured, with no fixed date of repayment.
Lease liabilities are secured on the assets to which they relate.

Page 12

 
TUNAP (UK) LIMITED
 

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

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Lease liabilities
478,127
-


There are no amounts payable wholly or in part later than five years.
Lease liabilities include a leased building. This lease is for 10 years, and has a break clause dated 25 September 2027. There is also a 3 month rent-free incentive. At the inception of the lease, the Directors were not reasonably certain that the break clause would not be exercised.
Lease liabilities also include motor vehicles, which are typically leased over a 3 year period. 


11.


Deferred taxation




2024


£






At beginning of year
33,505


Charge for the year
(9,228)



At end of year
24,277

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(36,361)
(47,205)

Tax losses carried forward
61,051
65,519

Provisions
(413)
(410)

Non-trading loan relationship losses carried forward
-
15,601

24,277
33,505

Page 13

 
TUNAP (UK) LIMITED
 

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

12.


Provisions




Dilapidation provision

£





At 1 January 2024
51,648



At 31 December 2024
51,648

Dilapidation provisions include the expected future costs of returning lease premises to their original condition. The lease has a break clause dated 25 September 2027.


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



863,616 (2023 - 863,616) Ordinary shares of £1.00 each
863,616
863,616

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends, voting rights, and the repayment of capital.



14.


Reserves

Profit and loss account

This reserve represents cumulative profits and losses, net of dividends paid.


15.


Prior year adjustment

The Directors identified a rent deposit that was incorrectly classified in the prior year. Therefore the comparative figures have been restated to increase debtors due after more than 1 year by £114,605 and reduce debtors due within 1 year by the same amount.


16.


Contingent liabilities

A guarantee dated 19 June 2013 has been been given in favour of HMRC amounting to £40,000 (2023: £40,000).


17.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £22,564 (2023: £25,520). Contributions totalling £3,934 (2023 - £3,909) were payable to the fund at the balance sheet date and are included in creditors.

Page 14

 
TUNAP (UK) LIMITED
 

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

18.


Controlling party

The immediate parent undertaking is RUC-Holding GmbH, a company incorporated in Austria. The registered office is Wurth Strasse 1, 3071 Boheimkirchen, Austria. The ultimate parent undertaking is Wurth Promotion Ges.m.b.H, a company incorporated in Austria. The consolidated financial statements can be obtained from the ultimate parent's registered office. The ultimate parent is controlled by the Wurth Private Trust. 


19.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 27 March 2025 by Stephan Schmitt ACA (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 15