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REGISTERED NUMBER: 04199432 (England and Wales)



















WAS VEHICLES (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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 to 9


WAS VEHICLES (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr A O Ploeger
Mr D Sullivan



SECRETARY: Mr A O Ploeger



REGISTERED OFFICE: Johnson Tidsall
81 Burton Road
Derby
Derbyshire
DE1 1TJ



REGISTERED NUMBER: 04199432 (England and Wales)



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



BANKERS: Commerzbank
30 Gresham Street
London
EC2P 2XY

WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,455,973 2,553,762
Tangible assets 5 50,581 67,880
Investments 6 1 1
2,506,555 2,621,643

CURRENT ASSETS
Stocks 7 533,276 557,449
Debtors 8 550,690 1,146,484
Cash at bank 115,620 51,635
1,199,586 1,755,568
CREDITORS
Amounts falling due within one year 9 506,965 974,275
NET CURRENT ASSETS 692,621 781,293
TOTAL ASSETS LESS CURRENT LIABILITIES 3,199,176 3,402,936

CREDITORS
Amounts falling due after more than one year 10 (2,458,082 ) (2,474,280 )

PROVISIONS FOR LIABILITIES (11,319 ) (14,555 )
NET ASSETS 729,775 914,101

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 728,775 913,101
SHAREHOLDERS' FUNDS 729,775 914,101

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 Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





Mr D Sullivan - Director


WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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


1. STATUTORY INFORMATION

WAS Vehicles (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.

Preparation of consolidated financial statements
The financial statements contain information about WAS Vehicles (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.
The following judgements 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:

Amortisation - £97,789 (2023: £97,789) management review the policy and determine its appropriateness based on historic experience and the current expectations of useful life

Work in progress - £73,752 (2023: £149,491) recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the costs of work performed to date, including an hourly labour rate.

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.

Recoverability of amounts owed by customers - amounts owed by customers are reviewed weekly for collectability and a reserve is recorded if, in the Directors' judgement, the collectability of the balance is uncertain.

Recoverability of other debtors - Included in other debtors as at 31 December 2023 is £77,348 of costs with no sale post year-end. This balance is included within the profit and loss in the year-ended 31 December 2024.

Recoverability of other taxation - Included in debtors as at 31 December 2023 is £113,794 in relation to German VAT that has been charged to the company. This balance is included within the profit and loss in the year-ended 31 December 2024.

WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of parts 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 dispatch of the goods.

Pre-converted vehicles are typically acquired and sold within the same accounting period. Revenue from the sale of a pre-converted vehicle is recognised when the vehicle is invoiced to the customer, reflecting the stage of completion of the conversion process

Turnover from the sale of converted vehicles 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 delivery of the vehicle to the customer.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from warranty services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the costs of work performed to date, including an hourly labour rate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The Customer Base intangible asset is being amortised evenly over its useful economic life of 30 years.

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
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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.


WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

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

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs. They are subsequently measured at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 2,933,665
AMORTISATION
At 1 January 2024 379,903
Charge for year 97,789
At 31 December 2024 477,692
NET BOOK VALUE
At 31 December 2024 2,455,973
At 31 December 2023 2,553,762

The other intangible assets represent the Customer Base in respect of the purchase of VIA Limited in February 2020.

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 4,850 90,159 22,846 93,275 211,130
Disposals - (9,436 ) - - (9,436 )
At 31 December 2024 4,850 80,723 22,846 93,275 201,694
DEPRECIATION
At 1 January 2024 2,425 85,100 22,846 32,879 143,250
Charge for year 485 1,715 - 15,099 17,299
Eliminated on disposal - (9,436 ) - - (9,436 )
At 31 December 2024 2,910 77,379 22,846 47,978 151,113
NET BOOK VALUE
At 31 December 2024 1,940 3,344 - 45,297 50,581
At 31 December 2023 2,425 5,059 - 60,396 67,880

WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 1
At 31 December 2023 1

7. STOCKS
2024 2023
£    £   
Finished goods 533,276 557,449

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 323,388 511,001
Amounts owed by group undertakings 177,687 326,842
Other debtors 8,310 87,272
VAT - 195,224
Prepayments and accrued income 41,305 26,145
550,690 1,146,484

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 16,198 16,198
Trade creditors 264,938 624,353
Corporation tax 33,237 79,539
Social security and other taxes - 18,806
VAT 34,023 -
Other creditors 6,502 13,635
Accruals and deferred income 152,067 221,744
506,965 974,275

WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 21,045 37,243
Amounts owed to group undertakings 2,437,037 2,437,037
2,458,082 2,474,280

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 37,243 53,441

The hire purchase contracts are secured against the motor vehicles in fixed assets.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

13. 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

14. OTHER FINANCIAL COMMITMENTS

As at 31 December 2024 the company had financial commitments under operating leases of £58,524 (2023: £87,786) in relation to property and £589 (2023: £589) in relation to equipment.

As at 31 December 2024 the company had financial commitments under hire purchase agreements of £37,243 (2023: £53,441) in relation to motor vehicles included in fixed assets.

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.

WAS Vehicles (UK) Limited is a wholly owned subsidiary of Wietmarscher Ambulanz- und Sonderfahrzeug GMBH registered in Germany. Consolidated financial statements, of which WAS Vehicles (UK) Limited forms a part, are publicly available at Darwinstr 11 48488 Emsburen Germany.

WAS VEHICLES (UK) LIMITED (REGISTERED NUMBER: 04199432)

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


15. RELATED PARTY DISCLOSURES - continued

The loan owing to Wietmarscher Ambulanz- und Sonderfahrzeug GMBH in note number 10 is repayable by 7 February 2030. Interest is charged at 4% per year.

16. ULTIMATE PARENT COMPANY

Fahrzeug-Werke LUEG AG, incorporated in Germany, is regarded by the directors as being the company's ultimate parent company.