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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
COMPANY INFORMATION
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KILLGERM GROUP LIMITED
CONTENTS
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KILLGERM GROUP LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The company is the parent company for the Killgerm Group of companies. As such its principal activities during the year were the holding of investments in subsidiary companies, the holding of assets for the use of those subsidiary companies and the provision of management services to those subsidiary companies. The income of the company is derived mainly from management charges and investment income from the Killgerm and PestWest Divisions within the Group.
The principal activities of the subsidiary companies include the formulation and distribution of biocides and other products used within the pest control industry, as well as the manufacture and distribution of electronic fly killers and related accessories.
The Directors are pleased to report that the consolidated profit for the year was £2.84m before tax and £1.96m after tax (2023 profit of £2.36m before tax and £1.60m after tax).
Despite increasing competitive pressures in all markets, complex supply chain challenges, increasing costs and adverse currency movements, the operations within the Group have once again managed to deliver a very healthy increase in turnover. Although costs across the Group had increased quite significantly in the year, the Group continued to protect its customer base and not pass on all of these increases. The outcome in terms of gross profit remained within the boundaries of what the Directors consider to be a good performance and shows a good increase on the previous year. International, national and industry pressures remain challenging and the Group has continued to take steps to minimise costs without compromising the quality of the products or the service that the Group offers.
During 2024, to further support the rapid growth of the new start-up operation, Killgerm France, Killgerm Group assisted in the acquisition of the property (offices & warehouse) used by Killgerm France.
The Group is in a sound financial position at the year end, with improved liquidity having increased its net current assets from £16.15m to £17.51m.
Net assets have increased from £21.55m to £22.86m, which has put the Group in a strong position to continue with our planned expansions in the future.
As for many companies of our size, the business environment in which the Group operate continues to be challenging. The risks and uncertainties which the Group faces include regulatory changes (which are mitigated by maintaining a broad and dynamic product portfolio), currency fluctuations (which are mitigated by operating in multiple currencies and through targeted currency hedging) and the challenges of expanding into new markets. With these in mind, the Directors are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control. However, the Directors continue to show flexibility and will respond to market conditions and opportunities as they arise.
The Group continues an active programme of research and development, the costs of which are written off to the profit and loss account. The Directors believe that the success of the Group is dependent on the constant review and updating of product lines to satisfy market demands.
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KILLGERM GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Corporate and Environmental Responsibility remains a major focus of the Group and the company continued to support employees through professional and industry training courses as well as making significant donations to charities involved in environmental health, industry and community improvement schemes and welfare projects for children and young persons.
Killgerm Group also recognises that modern slavery and human trafficking are significant global issues presenting a challenge for businesses worldwide. As such, Killgerm Group have a zero-tolerance approach to modern slavery and are committed to acting ethically and with integrity in our business dealings and have a clear policy in place in compliance with the Modern Slavery Act 2015.
Killgerm Group also operates a clear, zero-tolerance approach to tax evasion practices and also regarding bribery & corruption. The Group has in place a corporate Anti-Tax Evasion Policy and an Anti-Bribery & Corruption Policy across Killgerm Group and all subsidiary companies.
Going concern
Over recent years, the Group has seen an increase in cost pressures across its operations and at the same time product availability & lead times from certain suppliers has deteriorated somewhat. Nevertheless, Group companies have adapted to these supply chain challenges and have manged to protect the customer base from significant impacts.
The directors consider their approach to the management of finances as prudent and have a clear focus on cashflow controls. The Group has not needed to seek external assistance for financing, nor has the Group had to make redundancies or furlough employees.
The directors continually monitor the ongoing financial health of the Group and have prepared forward-looking projections for each business within the Group for at least 12 months.
Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.
No policital donations were made.
This report was approved by the board on 13 June 2025 and signed on its behalf.
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KILLGERM GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,959,804 (2023 - £1,601,021)
The directors who served during the year were:
The UK Government’s Streamlined Energy and Carbon Reporting (SECR) policy was implemented on 1st April 2019. Killgerm Group subsidiary companies are exempt as they would not be obliged to report in their own rights under SECR. In acting as a parent company for the subsidiary operations, Killgerm Group Ltd does fall under SECR obligations however the company undertakes a limited range of activities related to finance, IT, marketing and strategy. In future annual reports Killgerm Group will consider and explore the possibilities for voluntarily increasing the reporting in this area.
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KILLGERM GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditors, AAB Audit & Accountancy Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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KILLGERM GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM GROUP LIMITED
We have audited the financial statements of Killgerm Group Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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KILLGERM GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM GROUP LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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KILLGERM GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM GROUP LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements.
The laws and regulations we considered in this context were the Companies Act 2006 and UK Taxation legislation. We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be:
∙Management override of controls to manipulate the company’s key performance indicators to meet targets
∙Timing of revenue recognition
∙Management judgement applied in calculating provisions
∙Compliance with relevant laws and regulations which directly impact the financial statements and those that the company needs to comply with for the purpose of trading
Our audit procedures to respond to these risks included:
∙Testing of journal entries and other adjustments for appropriateness
∙Evaluating the business rationale of significant transactions outside the normal course of business
∙Reviewing judgements made by management in their calculation of accounting estimates for potential management bias
∙Enquiries of management about litigation and claims and inspection of relevant correspondence
∙Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations
∙Reviewing minutes of meetings of those charged with governance to identify any matters indicating actual or potential fraud
∙Analytical procedures to identify any unusual or unexpected trends or relationships
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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KILLGERM GROUP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KILLGERM GROUP LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered accountants & statutory auditor
Gresham House
5-7 St Pauls Street
LS1 2JG
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KILLGERM GROUP LIMITED
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
REGISTERED NUMBER: 01272745
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 38 form part of these financial statements.
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KILLGERM GROUP LIMITED
REGISTERED NUMBER: 01272745
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
The profit for the financial year of the parent company was £1,059,021 (2023: £355,040).
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 15 to 38 form part of these financial statements.
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KILLGERM GROUP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The company is a private limited company, which is incorporated and registered in England (company number 02794829). The address of the registered office is Wakefield Road, Ossett, West Yorkshire, WF5 9AJ.
The principal activities of the group are the formulation and distribution of biocides and other products used within the pest control industry and the manufacture and distribution of electronic fly killers and related accessories.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in stering, which is the functional currency of the entity.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
Parent Company disclosure exemptions
In preparing the separate financial statements of the parent Company, advantage has been taken of the following disclosure exemptions available in FRS 102:
∙No Statement of cash flows has been presented for the parent Company;
∙Disclosures in respect of the parent Company's financial instruments have not been presented as equivalent disclosures have been provided in respect of the Company as a whole; and
The following principal accounting policies have been applied:
The Parent Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23.
This information is included in the consolidated financial statements of Killgerm Group Limited as at 31 December 2024 and these financial statements may be obtained from the registered office.
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 31 December 2015.
The directors continually monitor the ongoing financial health of the Group and have prepared forward-looking projections for each business within the Group for at least 12 months from the sign off date.
Having regard to the above, the directors believe it appropiate to adopt the going concern basis of accounting in preparing the financial statements.
Functional and presentation currency
Transactions and balances
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Other intangible assets
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life.
The estimated useful lives range as follows:
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following 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.
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Balance sheet when the Group 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic 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 Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Analysis of turnover by country of destination:
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There are no factors that may affect future tax charges.
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.Intangible assets (continued)
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.Tangible fixed assets (continued)
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 31
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Included within creditors are five bank loans totalling £2,893,000 (2023 - £1,822,000) with an amount of £1,587,000 (2023 - £853,000) due for repayment after more than five years. These loans are secured against the assets to which they relate.
Loan 1 is repayable in monthly instalments of capital and interest with an interest rate of 1.85% above base rate. The balance due for repayment on this loan after more than five years is £36,000 (2023 - £86,000). Loan 2 is repayable in monthly instalments of capital and interest with an interest rate of 1.85% above base rate. The balance due for repayment on this loan after more than five years is £16,000 (2023 - £102,000). Loan 3 is repayable in monthly instalments of capital and interest with an interest rate of 2.00% above base rate. The balance due for repayment on this loan after more than five years is £252,000 (2023 - £317,000). Loan 4 is repayable in quarterly instalments of capital and interest with an interest rate of 3.20% above the Bank Bill Swap Bid Rate (BBSY). The balance due for repayment on this loan after more than five years is £377,000 (2023 - £348,000. Loan 5 is repayable in monthly instalments of captial and interest with an interest rate of 1.85% above base rate. The balance due for repayment on this loan after more than five years is £906,000.
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Translation reserve - This reserve records foreign currency movements arising on consolidation
Reserve for own shares - This reserve records contributions made by the Group to the Killgerm Employee Benefit Trust.
Profit and loss account - This reserve records retained earnings and accumulated losses.
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Defined contribution
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £740,331 (2023: £650,741). Defined benefit
The Group operates a defined benefit pension scheme.
The assets of the scheme are held seperately from those of the group. The contributions to the scheme are determined by a qualified actuary on the basis of triennial valuations using projected unit method. The most recent actuarial valuation was as at 30 September 2023. The main assumptions are the rate of interest and the salary increase.
Since 20 September 2007 the scheme has been closed to future accrual and all active members transferred out of the scheme in December 2008. The actuarial value of the scheme's assets at 30 September 2023 was £2,923,000 representing 110% of the benefits that had accrued to members, after allowing for expected future increases in earnings. There was therefore a surplus on a current funding level basis of £267,000.
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
25.Pension commitments (continued)
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
25.Pension commitments (continued)
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KILLGERM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
A director had a loan from the company during the year. The balance at 31 December 2024 was £35,000 (2023 - £35,000) and this is included in debtors. The maximum balance outstanding during the year was £35,000 (2023 - £35,000) and the loan is interest free.
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