IRIS Accounts Production v24.3.2.46 01340895 Board of Directors 1.1.24 31.12.24 31.12.24 13.3.25 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013408952023-12-31013408952024-12-31013408952024-01-012024-12-31013408952022-12-31013408952023-01-012023-12-31013408952023-12-3101340895ns15:EnglandWales2024-01-012024-12-3101340895ns14:PoundSterling2024-01-012024-12-3101340895ns10:Director12024-01-012024-12-3101340895ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3101340895ns10:SmallEntities2024-01-012024-12-3101340895ns10:Audited2024-01-012024-12-3101340895ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3101340895ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3101340895ns10:FullAccounts2024-01-012024-12-3101340895ns10:OrdinaryShareClass12024-01-012024-12-3101340895ns10:Director22024-01-012024-12-3101340895ns10:CompanySecretary12024-01-012024-12-3101340895ns10:RegisteredOffice2024-01-012024-12-3101340895ns5:CurrentFinancialInstruments2024-12-3101340895ns5:CurrentFinancialInstruments2023-12-3101340895ns5:ShareCapital2024-12-3101340895ns5:ShareCapital2023-12-3101340895ns5:RetainedEarningsAccumulatedLosses2024-12-3101340895ns5:RetainedEarningsAccumulatedLosses2023-12-3101340895ns5:PlantMachinery2024-01-012024-12-3101340895ns5:FurnitureFittings2024-01-012024-12-3101340895ns5:PlantMachinery2023-12-3101340895ns5:FurnitureFittings2023-12-3101340895ns5:PlantMachinery2024-12-3101340895ns5:FurnitureFittings2024-12-3101340895ns5:PlantMachinery2023-12-3101340895ns5:FurnitureFittings2023-12-3101340895ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3101340895ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3101340895ns5:WithinOneYear2024-12-3101340895ns5:WithinOneYear2023-12-3101340895ns5:BetweenOneFiveYears2024-12-3101340895ns5:BetweenOneFiveYears2023-12-3101340895ns5:AllPeriods2024-12-3101340895ns5:AllPeriods2023-12-3101340895ns10:OrdinaryShareClass12024-12-3101340895ns5:RetainedEarningsAccumulatedLosses2023-12-3101340895ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-31
REGISTERED NUMBER: 01340895 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2024

for

Koppen & Lethem Limited

Koppen & Lethem Limited (Registered number: 01340895)






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


Koppen & Lethem Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: S M Vangeersdaele
W F G Vullers





SECRETARY: Ms S L Ward





REGISTERED OFFICE: 3 Glenholm Park
Brunel Drive
Newark
Nottinghamshire
NG24 2EG





REGISTERED NUMBER: 01340895 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Koppen & Lethem Limited (Registered number: 01340895)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,455 20,697

CURRENT ASSETS
Stocks 317,681 407,658
Debtors 5 601,495 644,529
Cash at bank and in hand 563,213 463,589
1,482,389 1,515,776
CREDITORS
Amounts falling due within one year 6 646,742 758,254
NET CURRENT ASSETS 835,647 757,522
TOTAL ASSETS LESS CURRENT
LIABILITIES

854,102

778,219

CAPITAL AND RESERVES
Called up share capital 8 110 110
Retained earnings 9 853,992 778,109
SHAREHOLDERS' FUNDS 854,102 778,219

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 Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





S M Vangeersdaele - Director


Koppen & Lethem Limited (Registered number: 01340895)

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

1. STATUTORY INFORMATION

Koppen & Lethem 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.

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 comprises sales recognised upon delivery of products net of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost and 10% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the first-in first-out principle.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Koppen & Lethem Limited (Registered number: 01340895)

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
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 13 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2024 8,783 55,757 64,540
Additions - 5,106 5,106
Disposals - (2,000 ) (2,000 )
At 31 December 2024 8,783 58,863 67,646
DEPRECIATION
At 1 January 2024 8,783 35,060 43,843
Charge for year - 6,282 6,282
Eliminated on disposal - (934 ) (934 )
At 31 December 2024 8,783 40,408 49,191
NET BOOK VALUE
At 31 December 2024 - 18,455 18,455
At 31 December 2023 - 20,697 20,697

Koppen & Lethem Limited (Registered number: 01340895)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 576,213 615,464
Other debtors 25,282 29,065
601,495 644,529

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 113,790 179,838
Trade creditors 168,558 221,297
Amounts owed to group undertakings 27,892 8,892
Taxation and social security 250,416 263,463
Other creditors 86,086 84,764
646,742 758,254

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 47,632 40,154
Between one and five years 14,522 36,428
62,154 76,582

During the year £48,827 was recognised as an expense in the profit and loss account in respect of operating leases (2023: £43,977).

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
110 Ordinary £1 110 110

9. RESERVES
Retained
earnings
£   

At 1 January 2024 778,109
Profit for the year 475,883
Dividends (400,000 )
At 31 December 2024 853,992

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Chadwick BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

11. 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.

Koppen & Lethem Limited (Registered number: 01340895)

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

12. ULTIMATE CONTROLLING PARTY

The company is a subsidiary undertaking of Doedijns Group International B.V., a company registered in The Netherlands. Its direct parent company is Vydraulics NV.

The largest and smallest group in which the results of the Company are consolidated is that headed by Vydraulics NV incorporated in Belgium. The consolidated financial statements of this group are available to the public and may be obtained from Industrielaan 6, 8890 Moorslede, Belgium.

The ultimate controlling party is Vybros Capital Partners BV/SRL.