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Registered number: 05015465









TUNKERS-EXPERT UK LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
TUNKERS-EXPERT UK LIMITED
 
 
COMPANY INFORMATION


Director
O J Tunkers 




Registered number
05015465



Registered office
Unit 5 Ham Lane
Kingswinford

West Midlands

DY6 7JR




Independent auditors
Ecovis Wingrave Yeats LLP

Waverley House

7-12 Noel Street

London

W1F 8GQ





 
TUNKERS-EXPERT UK LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 8


 
TUNKERS-EXPERT UK LIMITED
REGISTERED NUMBER: 05015465

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,767
4,613

  
3,767
4,613

Current assets
  

Stocks
 6 
64,742
87,825

Debtors
 7 
2,348,078
1,913,758

Cash at bank and in hand
  
727,423
213,499

  
3,140,243
2,215,082

Creditors: amounts falling due within one year
 8 
(2,611,689)
(1,727,339)

Net current assets
  
 
 
528,554
 
 
487,743

Total assets less current liabilities
  
532,321
492,356

  

Net assets
  
532,321
492,356


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
532,320
492,355

  
532,321
492,356


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: 

O J Tunkers
Director

Date: 28 May 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
TUNKERS-EXPERT UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Tunkers-Expert UK Limited is a private company, limited by shares, domiciled in England and Wales, registration number 05015465. The Company's registered office is Unit 5 Ham Lane, Kingswinford, West Midlands, DY6 7JR.

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 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

There continues to be economic uncertainty worldwide and the Company has and is expected to continue to experience volatility that could impact the financial results and/or impede generic operations. The Company has continued to work with key customers this year and new work has flowed to the business. The director continues to monitor this unprecedented situation, evaluate and mitigate its impact on an ongoing business. 
The parent company, Tunkers Maschinenbau GmbH, has indicated that it is willing to provide ongoing support to the Company in order to meet its financial obligations as they fall due. The director is therefore satisfied that the statutory financial statement can be prepared under the going concern assumption.


 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
TUNKERS-EXPERT UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Reducing balance basis
Fixtures and fittings
-
20%
Reducing balance basis
Office equipment
-
20%
Reducing balance basis

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.

 
2.5

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

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 profit or loss.

  
2.6

Financial instruments

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 from banks and other third parties, loans to related parties and investments in 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 the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Page 3

 
TUNKERS-EXPERT UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.9

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 profit or loss 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.

 
2.10

Taxation

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 income 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.


Page 4

 
TUNKERS-EXPERT UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Stock provision
Provision is made for slow moving and obsolete stock. The provision requires management's best estimate of stock that they believe they will be unable to or will experience difficulty in selling. In addition to this, management have to consider the value at which they believe the old stock can be sold for.
Debtor provision
The Company makes an estimate of the recoverable value of trade and other debtors.  When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.


4.


Employees

The average monthly number of employees, excluding directors, during the year was 2 (2023 - 2).


5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
18,393
3,219
30,379
51,991


Additions
-
-
2,271
2,271



At 31 December 2024

18,393
3,219
32,650
54,262



Depreciation


At 1 January 2024
16,898
2,969
27,511
47,378


Charge for the year on owned assets
1,118
248
1,751
3,117



At 31 December 2024

18,016
3,217
29,262
50,495



Net book value



At 31 December 2024
377
2
3,388
3,767



At 31 December 2023
1,495
250
2,868
4,613

Page 5

 
TUNKERS-EXPERT UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Stocks

2024
2023
£
£

Finished goods
64,742
87,825

64,742
87,825



7.


Debtors

2024
2023
£
£


Trade debtors
2,106,673
1,779,033

Amounts owed by group undertakings
38,613
25,880

Prepayments and accrued income
202,792
108,845

2,348,078
1,913,758


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,663
1,954

Amounts owed to group undertakings
1,813,191
1,168,038

Corporation tax
11,942
65,165

Other taxation and social security
423,262
332,830

Other creditors
1,010
1,210

Accruals and deferred income
359,621
158,142

2,611,689
1,727,339


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 

Page 6

 
TUNKERS-EXPERT UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



10.


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 costs charge represents contributions payable by the Company to the fund and amounted to £8,323 (2023 - £6,198). Contributions totalling £1,010 (2023 - £1,210) were payable to the fund at the balance sheet date.


11.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
4,200
10,080

Later than 1 year and not later than 5 years
-
4,200

4,200
14,280


12.


Related party transactions

The Company has taken exemption under FRS 102, section 33 Related Party Disclosures paragraph 33 1A, whereby the Company is not required to disclose transactions with other companies that are wholly owned within the group.
During the year, the Company made purchases totalling £622,255 (
2023 - £137,734) from a group company which is not fully owned, and received credit notes totalling £Nil (2023 - £29,924) from another group company which is not wholly owned. The balance outstanding at the year end was £621,995 owed to the group company (2023 - £263).


13.


Controlling party

The immediate parent company is Tunkers Maschinenbau GmbH, a company incorporated in Germany. The results of the Company are consolidated into the immediate parent company and copies of its consolidated financial statements are available from Am Rosenkothen 8, 40880 Ratingen, Germany.

Page 7

 
TUNKERS-EXPERT UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Auditors' information

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

The audit report was signed on 28 May 2025 by Jessica Teague (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 8