13 7 Kempower Charging Limited 13637026 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is wholesale of other machinery and equipment. Digita Accounts Production Advanced 6.30.9574.0 true false true 13637026 2024-01-01 2024-12-31 13637026 2024-12-31 13637026 bus:OrdinaryShareClass1 2024-12-31 13637026 core:CurrentFinancialInstruments 2024-12-31 13637026 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13637026 core:WithinOneYear 2024-12-31 13637026 core:PlantMachinery 2024-12-31 13637026 bus:SmallEntities 2024-01-01 2024-12-31 13637026 bus:Audited 2024-01-01 2024-12-31 13637026 bus:FilletedAccounts 2024-01-01 2024-12-31 13637026 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13637026 bus:RegisteredOffice 2024-01-01 2024-12-31 13637026 bus:Director1 2024-01-01 2024-12-31 13637026 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13637026 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13637026 bus:Agent1 2024-01-01 2024-12-31 13637026 core:ComputerEquipment 2024-01-01 2024-12-31 13637026 core:PlantMachinery 2024-01-01 2024-12-31 13637026 1 2024-01-01 2024-12-31 13637026 countries:UnitedKingdom 2024-01-01 2024-12-31 13637026 2023-12-31 13637026 core:PlantMachinery 2023-12-31 13637026 2023-01-01 2023-12-31 13637026 2023-12-31 13637026 bus:OrdinaryShareClass1 2023-12-31 13637026 core:CurrentFinancialInstruments 2023-12-31 13637026 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13637026 core:WithinOneYear 2023-12-31 13637026 core:PlantMachinery 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 13637026

Kempower Charging Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Kempower Charging Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

Kempower Charging Limited

Company Information

Director

J Kainulainen

Registered office

The Maylands Building
Hemel Hempstead
HP2 7TG

Auditors

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Kempower Charging Limited

(Registration number: 13637026)
Balance Sheet as at 31 December 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

6

2,903

5,998

Current assets

 

Debtors

7

2,716,958

1,416,820

Cash at bank and in hand

 

376,847

7,650,547

 

3,093,805

9,067,367

Creditors: Amounts falling due within one year

8

(1,512,692)

(7,916,941)

Net current assets

 

1,581,113

1,150,426

Net assets

 

1,584,016

1,156,424

Capital and reserves

 

Called up share capital

9

50,000

50,000

Retained earnings

1,534,016

1,106,424

Shareholders' funds

 

1,584,016

1,156,424

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 March 2025
 

.........................................
J Kainulainen
Director

 

Kempower Charging Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Maylands Building
Hemel Hempstead
HP2 7TG
United Kingdom

Principal activity

The principal activity of the Company is wholesale of other machinery and equipment.

These financial statements were authorised for issue by the director on 25 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Kempower Charging Limited

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

Prior period errors

During the year it was identified that the accounts receivables deferrred and advances received had been incorrectly accounted for in the prior year. It relates to deferred income hence should be presented as a liability instead of offsetting it against trade debtors. A prior year reclassification adjustment has been made in the financial statements to be more closely aligned with the accounting treatment of deferred income as part of UK GAAP.

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Trade debtors

-

533,184

-

Deferred income

-

(533,184)

-

   

During the year it was identified that intercompany debtors and creditors were offset in the company's prior year financial statements. A prior year reclassification adjustment was made to correct the comparatives in the current year financial statements.

The impact of this error results in an understatement of current assets and understatement of current liabilities. There is no impact on net assets, shareholder funds or comprehensive income.

Amounts owed to group undertakings and undertakings in which the company has a participating interest as at 31 December 2023 of £6,945,092 have been restated to £7,064,565.

Amounts due from group undertakings and undertakings in which the company has a participating interest as at 31 December 2023 of £nil have been restated to £119,474.

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Intercompany creditors (Owed by/(from) group undertakings

-

(119,474)

-

Intercompany debtors ( IGR other accrued income)

-

119,474

-

   

 

Kempower Charging Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

33% straight line

 

Kempower Charging Limited

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

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.

 

Debtors

Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Kempower Charging Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

Fixed Assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the useful economic lives and residual values of the assets. The useful lives and residual values are re-assessed annually. The carrying amount at the end of the reporting period was £2,903 (2023:£5,998). The depreciation charge for the reporting period was £3,095 (2023:£2,880).

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 25 March 2025 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 13 (2023 - 7).

 

Kempower Charging Limited

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

6

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

9,285

9,285

At 31 December 2024

9,285

9,285

Depreciation

At 1 January 2024

3,287

3,287

Charge for the year

3,095

3,095

At 31 December 2024

6,382

6,382

Carrying amount

At 31 December 2024

2,903

2,903

At 31 December 2023

5,998

5,998

7

Debtors

Current

Note

2024
£

(As restated)

2023
£

Trade debtors

 

873,436

1,271,971

Amounts owed by related parties

1,673,950

119,474

Prepayments

 

14,692

12,160

Other debtors

 

154,880

13,215

   

2,716,958

1,416,820

 

Kempower Charging Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Due within one year

 

Trade creditors

 

9,443

13,019

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

957,557

7,064,565

Taxation and social security

 

42,346

140,553

Accruals and deferred income

 

503,346

695,872

Other creditors

 

-

2,932

 

1,512,692

7,916,941

 

Kempower Charging Limited

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

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

50,000

50,000

50,000

50,000

       

10

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £Nil) per ordinary share

-

-

 

 

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

48,804

31,768

12

Parent and ultimate parent undertaking

The Company's immediate parent is Kempower Oyj, incorporated in Finland.

 The ultimate parent is Kempower Oyj, incorporated in Finland.

  These financial statements are available upon request from 29 Ala-okeroistentie, Lahti, Paijanne Tavastia, 15700