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COMPANY REGISTRATION NUMBER: 4539698
KTR U.K. Limited
Filleted Financial Statements
31 December 2024
KTR U.K. Limited
Financial Statements
Year ended 31 December 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 6
KTR U.K. Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
27,312
31,212
Current assets
Debtors
7
704,605
989,287
Cash at bank and in hand
1,367,232
1,170,057
------------
------------
2,071,837
2,159,344
Creditors: amounts falling due within one year
8
342,586
381,742
------------
------------
Net current assets
1,729,251
1,777,602
------------
------------
Total assets less current liabilities
1,756,563
1,808,814
Provisions
Taxation including deferred tax
6,769
7,731
------------
------------
Net assets
1,749,794
1,801,083
------------
------------
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss account
1,699,794
1,751,083
------------
------------
Shareholders funds
1,749,794
1,801,083
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 9 May 2025 , and are signed on behalf of the board by:
Mr G W Ancliff
Mr T Maybaum
Director
Director
Company registration number: 4539698
KTR U.K. Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Robert House, Unit 7 Acorn Business Park, Woodseats Close, Sheffield, S8 0TB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of KTR Systems GmbH, which can be obtained from KTR Systems GmbH, Carl-Zeisse-Strasse 25, 48432 Rheine, Germany. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) No cash flow statement has been presented for the company. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of management, there are no areas of judgement or key sources of estimation uncertainty that have a significant effect on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
25% straight line
Other intangibles
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office refit
-
16% straight line
Office equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Intangible assets
Goodwill
Other intangible assets
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
2,000
3,045
5,045
-------
-------
-------
Amortisation
At 1 January 2024 and 31 December 2024
2,000
3,045
5,045
-------
-------
-------
Carrying amount
At 31 December 2024
-------
-------
-------
At 31 December 2023
-------
-------
-------
6. Tangible assets
Office refit costs
Office equipment
Total
£
£
£
Cost
At 1 January 2024
104,470
99,736
204,206
Additions
17,998
17,998
---------
---------
---------
At 31 December 2024
104,470
117,734
222,204
---------
---------
---------
Depreciation
At 1 January 2024
104,470
68,524
172,994
Charge for the year
21,898
21,898
---------
---------
---------
At 31 December 2024
104,470
90,422
194,892
---------
---------
---------
Carrying amount
At 31 December 2024
27,312
27,312
---------
---------
---------
At 31 December 2023
31,212
31,212
---------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
626,682
845,227
Other debtors
77,923
144,060
---------
---------
704,605
989,287
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
36,624
110,359
Corporation tax
63,213
49,075
Social security and other taxes
176,589
151,570
Other creditors
66,160
70,738
---------
---------
342,586
381,742
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
113,735
131,268
Later than 1 year and not later than 5 years
83,223
195,869
---------
---------
196,958
327,137
---------
---------
10. Summary audit opinion
The auditor's report dated 20 May 2025 was unqualified .
The senior statutory auditor was Roger Brennan FCA , for and on behalf of Hebblethwaites .
11. Related party transactions
During the year the company purchased goods from KTR Systems GmbH to the value of £2,590,491 (2023: £3,469,085). Commissions paid to KTR U.K. Limited from KTR Systems GmbH amounted to £Nil (2023: £853). Included in trade creditors at the balance sheet date is £21,939 (2023: £98,122) owing to KTR Systems GmbH. During the year, the company purchased goods from companies related by common ownership. Purchases worth £10,054 (2023: £218) were made from KTR Brake Systems GmbH, £8,191 (2023: £9,552) from KTR Corporation and £1,355 from KTR Benelux. No amounts were owing to these three entities at the year end. The company sold no goods during the year or previous year to companies related by common ownership. Dividends totalling £400,000 were paid to KTR Systems GmbH during the year (2023: £450,000).
12. Controlling party
The ultimate controlling party is KTR Systems GmbH, a company registered in Germany, by virtue of its ownership of the entire issued share capital of the company. KTR Systems GmbH is in turn owned by F. Tacke GmBH & Co. KG and its controlling parties are Frau Dr.Mareike Tacke and KTR Kupplunestechnik GmbH. Copies of the group accounts can be obtained from KTR Systems GmbH, Carl-Zeisse-Strasse 25, 48432 Rheine, Germany.