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REGISTERED NUMBER: 11819522 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

KTL Europe (UK) Ltd

KTL Europe (UK) Ltd (Registered number: 11819522)






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


KTL Europe (UK) Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: M V Daly



REGISTERED OFFICE: c/o Ency Associates
Printware Court
Cumberland Business Centre
Portsmouth
Hampshire
PO5 1DS



REGISTERED NUMBER: 11819522 (England and Wales)



SENIOR STATUTORY AUDITOR: Andrew Galliers FCA



AUDITORS: Menzies LLP
Chartered Accountants &
Statutory Auditor
3000a Parkway
Whiteley
Hampshire
PO15 7FX

KTL Europe (UK) Ltd (Registered number: 11819522)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,033 11,137

CURRENT ASSETS
Debtors 5 1,016,378 890,244
Cash at bank 249,319 112,536
1,265,697 1,002,780
CREDITORS
Amounts falling due within one year 6 1,222,346 1,581,804
NET CURRENT ASSETS/(LIABILITIES) 43,351 (579,024 )
TOTAL ASSETS LESS CURRENT LIABILITIES 52,384 (567,887 )

CREDITORS
Amounts falling due after more than
one year

7

544,620

20,000
NET LIABILITIES (492,236 ) (587,887 )

CAPITAL AND RESERVES
Called up share capital 10 200 200
Share premium 274,471 274,471
Retained earnings (766,907 ) (862,558 )
SHAREHOLDERS' FUNDS (492,236 ) (587,887 )

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 director and authorised for issue on 26 March 2025 and were signed by:





M V Daly - Director


KTL Europe (UK) Ltd (Registered number: 11819522)

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

1. STATUTORY INFORMATION

KTL Europe (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. 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.

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 derived from the export of goods is recognised to the extent that the customer instruction has been fulfilled, which is usually upon departure from the UK. Revenue derived from the import of goods is recognised on arrival in the UK.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 25% on cost
Computer equipment - 33% on cost

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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.


KTL Europe (UK) Ltd (Registered number: 11819522)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 22 ) .

KTL Europe (UK) Ltd (Registered number: 11819522)

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

4. TANGIBLE FIXED ASSETS
Fixtures Computer
& fittings equipment Totals
£    £    £   
COST
At 1 January 2024 13,027 37,919 50,946
Additions 3,298 3,197 6,495
At 31 December 2024 16,325 41,116 57,441
DEPRECIATION
At 1 January 2024 8,802 31,007 39,809
Charge for year 3,113 5,486 8,599
At 31 December 2024 11,915 36,493 48,408
NET BOOK VALUE
At 31 December 2024 4,410 4,623 9,033
At 31 December 2023 4,225 6,912 11,137

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 511,679 631,212
Amounts owed by group undertakings 5,535 35,487
Other debtors 98,801 45,849
VAT 30,749 48,337
Prepayments 369,614 129,359
1,016,378 890,244

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 68,492 68,492
Trade creditors 419,145 408,194
Amounts owed to group undertakings 578,616 990,044
Social security and other taxes 24,885 30,724
Other creditors 39,620 17,440
Director's current account due within
one year

124

125
Accrued expenses 81,464 56,785
1,222,346 1,581,804

KTL Europe (UK) Ltd (Registered number: 11819522)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years - 10,000
Amounts owed to group undertakings 534,620 -
544,620 20,000

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 20,497 10,676
Between one and five years 3,017 51,458
23,514 62,134

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
- 6,350

Time Invoice Finance has a fixed and floating charge over all assets of the company.

10. CALLED UP SHARE CAPITAL

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

11. AUDITORS' INFORMATION

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

The audit report was signed on 26 March 2025
by Andrew Galliers FCA (Senior statutory auditor) on behalf of
Menzies LLP.

KTL Europe (UK) Ltd (Registered number: 11819522)

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

12. CONTROLLING PARTY

The controlling party is Kinay Transport & Logistics Investment Holdings BV.

The registered office for this company is:

Strawinskylaan
1143
Amsterdam
Netherlands

13. GOING CONCERN

The accounts have been prepared on a going concern basis. This is considered appropriate because of the continuing support from its parent company for its short and medium term funding requirements.