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GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TRATOS (UK) LIMITED

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 5

Report of the Independent Auditor 7

Consolidated Statement of Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


TRATOS (UK) LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: Dr Albano Bragagni
Dr Maurizio Bragagni
Mr Neil Ancell
Mr Germano Bragagni
Dr Ennio Bragagni Capaccini
Dr Elisabetta Bragagni Capaccini
Dr Enrico Scambia
Mr Kevin Martin



SECRETARY: Mr Kevin Martin



REGISTERED OFFICE: Randles Road
Knowsley Business Park
Knowsley
L34 9HX



REGISTERED NUMBER: 01524815 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr James Timothy Card FCCA



AUDITOR: Hewitt Card Limited
Statutory Auditor
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

GROUP STRATEGIC REPORT
for the year ended 31 December 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

Tratos (UK) Ltd continued to deliver its overall objectives of providing uninterrupted, competitive, and high quality supply of cable, and after sales care to the public and corporate customers.


TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

GROUP STRATEGIC REPORT
for the year ended 31 December 2024

REVIEW OF BUSINESS
Over the past year, Tratos has made significant strides in solidifying its presence and performance across key sectors, particularly in energy and H2O. This strategic focus has not only bolstered our market standing but has also positioned us for continued growth and innovation.

**Energy Sector Consolidation**

In the energy sector, Tratos has successfully consolidated its results, reflecting our commitment to excellence and our strategic investments in cutting-edge technologies and infrastructure. This consolidation is not merely about maintaining our market share but is a testament to our robust operational capabilities and our ability to adapt to the dynamic demands of the energy industry. By optimizing our production processes, enhancing our supply chain efficiency, and investing in state-of-the-art research and development, we have been able to deliver high-quality products that meet the evolving needs of our clients. Our efforts have led to increased reliability and performance of our energy solutions, fostering stronger relationships with existing clients and attracting new business opportunities.

**Expansion in the H2O Sector**

The H2O sector has emerged as a pivotal area of growth for Tratos. Over the past year, we have achieved remarkable success in acquiring more significant clients within this sector. This expansion underscores our expertise and our ability to deliver innovative solutions that address critical water management challenges. Our advanced cable technologies and infrastructure solutions have been instrumental in supporting water utilities and companies in their quest for efficiency, sustainability, and resilience. By leveraging our deep industry knowledge and technical prowess, we have been able to provide customized solutions that not only meet but exceed our clients' expectations. This client-centric approach has been a cornerstone of our strategy, driving customer satisfaction and long-term partnerships.

**Implementation of Green Strategy**

Tratos remains steadfast in its commitment to sustainability and environmental stewardship. Our green strategy is a comprehensive approach that integrates sustainability into every aspect of our operations. From the development of eco-friendly products to the adoption of energy-efficient manufacturing processes, we are dedicated to reducing our environmental footprint. This year, we have made significant progress in implementing initiatives that promote resource conservation, waste reduction, and carbon footprint minimization. By investing in renewable energy sources and sustainable materials, we are not only contributing to a greener planet but also enhancing the value proposition of our products. Our green strategy is a testament to our belief that profitability and sustainability can go hand in hand, creating a positive impact on both our business and the environment.

**Strengthening Position in the UK Market**

Recent acquisitions have played a critical role in reinforcing Tratos' position in the UK market. These strategic acquisitions have expanded our capabilities, broadened our product portfolio, and enhanced our market reach. By integrating these acquisitions into our existing operations, we have been able to create synergies that drive operational efficiencies and innovation. The UK market, with its robust infrastructure and growing demand for advanced cable solutions, presents significant growth opportunities for Tratos. Our strengthened presence in this market enables us to better serve our clients, respond to market demands swiftly, and capitalize on emerging opportunities.

In conclusion, the past year has been marked by strategic achievements and forward momentum for Tratos. Our consolidation in the energy sector, expansion in the H2O sector, unwavering commitment to our green strategy, and strengthened position in the UK market are clear indicators of our continued success and future potential. As we move forward, we remain dedicated to driving innovation, sustainability, and value for our clients and stakeholders, ensuring that Tratos continues to lead the way in the cable technology industry.

The key performance indicators by which financial performance is measured are as follows:-

2024 2023
Turnover £21m £25m
Gross profit percentage 22.80% 21.71%
Net profit/(loss) £28k £87k
Shareholders funds £6.9m £6.3m


TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

GROUP STRATEGIC REPORT
for the year ended 31 December 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The major risks that Tratos will face are those arising from competition in the marketplace particularly in the form of price and supply.

In addition, effective working capital management is required to ensure that products are available at the right time.
The provision of specialist knowledge is also key to adding value and achieving our aim of quality service and so retention of experienced and knowledgeable staff is a risk we face.

The above challenges are to be expected and managed through a robust and forward-looking approach to supply chains' engagement.

ON BEHALF OF THE BOARD:





Mr Kevin Martin - Secretary


10 June 2025

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

REPORT OF THE DIRECTORS
for the year ended 31 December 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of the manufacture and distribution of electrical cables.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2024.



DIRECTORS
The directors during the year under review were:

Dr Albano Bragagni
Dr Maurizio Bragagni
Mr Neil Ancell
Mr Germano Bragagni
Dr Ennio Bragagni Capaccini
Dr Elisabetta Bragagni Capaccini
Dr Enrico Scambia
Mr Kevin Martin

The beneficial interests of the directors holding office on 31 December 2024 in the issued share capital of the company were as follows:
31.12.24 1.1.24
Ordinary A £1 shares

Dr Albano Bragagni 22,060 22,060
Dr Maurizio Bragagni 375,020 375,020
Mr Neil Ancell - -
Mr Germano Bragagni - -
Dr Ennio Bragagni Capaccini 176,480 176,480
Dr Elisabetta Bragagni Capaccini 176,480 176,480
Dr Enrico Scambia - -
Mr Kevin Martin - -

Ordinary B £1 shares

Dr Albano Bragagni - -
Dr Maurizio Bragagni - -
Mr Neil Ancell - -
Mr Germano Bragagni - -
Dr Ennio Bragagni Capaccini - -
Dr Elisabetta Bragagni Capaccini - -
Dr Enrico Scambia - -
Mr Kevin Martin - -

Ordinary C £1 shares

Dr Albano Bragagni - -
Dr Maurizio Bragagni - -
Mr Neil Ancell - -
Mr Germano Bragagni - -
Dr Ennio Bragagni Capaccini - -
Dr Elisabetta Bragagni Capaccini - -
Dr Enrico Scambia - -
Mr Kevin Martin - -


TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

REPORT OF THE DIRECTORS
for the year ended 31 December 2024

FINANCIAL INSTRUMENTS
The Company's main risks are the maintenance of sufficient product stock to ensure a continuous supply to market together with the maintenance of a competitive price base.

This is achieved through regular review of inventory levels together with review of sales trends and market analysis.

In addition liquid funds are reviewed and managed on a daily basis by the directors to ensure funds are available to meet the on going and anticipated future commitments of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditor is unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditor is aware of that information.

AUDITOR
The auditors, Hewitt Card Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



Mr Kevin Martin - Secretary


10 June 2025

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
TRATOS (UK) LIMITED

Opinion
We have audited the financial statements of Tratos (UK) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
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 Auditor 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 UK, including the FRC'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.

Conclusions relating to going concern
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 and 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditor thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
TRATOS (UK) LIMITED


Matters on which we are required to report by exception
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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
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 a Report of the Auditor 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have adopted a risk based approach based upon analytical procedures and knowledge of the clients systems and environment it operates in.

This enables us to design and perform audit procedures responsive to those risks; and obtain audit evidence that is sufficient and appropriate to provide a basis for the audit opinion.
To obtain an understanding of internal control where relevant to the audit to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal control.
To evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
To conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.

The likelihood of detecting irregularities is inherently difficult and we have designed our tests and procedures to reduce this risk.
- We have enquired of management and the company's solicitors around actual and potential litigation and claims.
- Review of company minutes of meetings of those charged with governance.
- Reviewing financial statements disclosure and testing supporting documentation to assess compliance with applicable laws and regulations.
- Review and testing of management override of controls, including through testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions.

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 Report of the Auditor.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
TRATOS (UK) LIMITED


Use of our report
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 a Report of the Auditor 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.




Mr James Timothy Card FCCA (Senior Statutory Auditor)
for and on behalf of Hewitt Card Limited
Statutory Auditor
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

10 June 2025

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
for the year ended 31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   

TURNOVER 20,775,625 25,258,039

Cost of sales 16,038,073 19,776,646
GROSS PROFIT 4,737,552 5,481,393

Administrative expenses 4,555,507 4,980,456
182,045 500,937

Other operating income 6,608 (314,508 )
OPERATING PROFIT 4 188,653 186,429

Income from fixed asset investments - 263,688
Interest receivable and similar income 27 -
27 263,688
188,680 450,117

Interest payable and similar expenses 5 165,911 198,734
PROFIT BEFORE TAXATION 22,769 251,383

Tax on profit 6 (5,308 ) 164,598
PROFIT FOR THE FINANCIAL YEAR 28,077 86,785

OTHER COMPREHENSIVE INCOME
Revaluation in the year 507,868 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

507,868

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

535,945

86,785

Profit attributable to:
Owners of the parent 28,077 86,785

Total comprehensive income attributable to:
Owners of the parent 535,945 86,785

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

CONSOLIDATED BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 265,888 426,961
Tangible assets 10 16,599,632 16,349,093
Investments 11 - -
16,865,520 16,776,054

CURRENT ASSETS
Stocks 12 11,971,037 12,686,017
Debtors 13 4,866,334 2,245,951
Cash at bank 1,132,213 1,969,968
17,969,584 16,901,936
CREDITORS
Amounts falling due within one year 14 14,933,916 14,332,133
NET CURRENT ASSETS 3,035,668 2,569,803
TOTAL ASSETS LESS CURRENT LIABILITIES 19,901,188 19,345,857

CREDITORS
Amounts falling due after more than one year 15 (11,848,241 ) (11,828,855 )

PROVISIONS FOR LIABILITIES 19 (1,185,983 ) (1,185,983 )
NET ASSETS 6,866,964 6,331,019

CAPITAL AND RESERVES
Called up share capital 20 5,500,080 5,500,080
Revaluation reserve 21 498,091 -
Capital redemption reserve 21 32 32
Retained earnings 21 868,761 830,907
SHAREHOLDERS' FUNDS 6,866,964 6,331,019

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





Dr Maurizio Bragagni - Director


TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

COMPANY BALANCE SHEET
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 265,888 426,961
Tangible assets 10 16,599,632 16,349,093
Investments 11 100 100
16,865,620 16,776,154

CURRENT ASSETS
Stocks 12 11,968,294 12,686,017
Debtors 13 4,871,111 2,245,951
Cash at bank 1,127,073 1,965,769
17,966,478 16,897,737
CREDITORS
Amounts falling due within one year 14 14,933,404 14,331,980
NET CURRENT ASSETS 3,033,074 2,565,757
TOTAL ASSETS LESS CURRENT LIABILITIES 19,898,694 19,341,911

CREDITORS
Amounts falling due after more than one year 15 (11,848,241 ) (11,828,855 )

PROVISIONS FOR LIABILITIES 19 (1,185,983 ) (1,185,983 )
NET ASSETS 6,864,470 6,327,073

CAPITAL AND RESERVES
Called up share capital 20 5,500,080 5,500,080
Revaluation reserve 21 498,091 -
Capital redemption reserve 21 32 32
Retained earnings 21 866,267 826,961
SHAREHOLDERS' FUNDS 6,864,470 6,327,073

Company's profit for the financial year 29,529 86,949

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





Dr Maurizio Bragagni - Director


TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 December 2024

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 January 2023 4,000,080 744,122 - 32 4,744,234

Changes in equity
Issue of share capital 1,500,000 - - - 1,500,000
Total comprehensive income - 86,785 - - 86,785
Balance at 31 December 2023 5,500,080 830,907 - 32 6,331,019

Changes in equity
Total comprehensive income - 37,854 498,091 - 535,945
Balance at 31 December 2024 5,500,080 868,761 498,091 32 6,866,964

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 31 December 2024

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 January 2023 4,000,080 740,012 - 32 4,740,124

Changes in equity
Issue of share capital 1,500,000 - - - 1,500,000
Total comprehensive income - 86,949 - - 86,949
Balance at 31 December 2023 5,500,080 826,961 - 32 6,327,073

Changes in equity
Total comprehensive income - 39,306 498,091 - 537,397
Balance at 31 December 2024 5,500,080 866,267 498,091 32 6,864,470

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (396,313 ) 1,715,684
Interest paid (157,728 ) (198,734 )
Interest element of hire purchase payments
paid

(8,183

)

-
Tax paid 5,308 -
Net cash from operating activities (556,916 ) 1,516,950

Cash flows from investing activities
Purchase of intangible fixed assets (77,731 ) (76,865 )
Purchase of tangible fixed assets (232,654 ) (659,178 )
Interest received 27 -
Dividends received - 263,688
Net cash from investing activities (310,358 ) (472,355 )

Cash flows from financing activities
Loan repayments in year (299,698 ) (414,749 )
Capital repayments in year 274,799 -
Share issue - 1,500,000
Net cash from financing activities (24,899 ) 1,085,251

(Decrease)/increase in cash and cash equivalents (892,173 ) 2,129,846
Cash and cash equivalents at beginning of
year

2

1,520,800

(609,046

)

Cash and cash equivalents at end of year 2 628,627 1,520,800

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24 31.12.23
£    £   
Profit before taxation 22,769 251,383
Depreciation charges 728,786 633,250
Government grants - 98,350
Finance costs 165,911 198,734
Finance income (27 ) (263,688 )
917,439 918,029
Decrease/(increase) in stocks 714,980 (2,882,069 )
(Increase)/decrease in trade and other debtors (2,620,382 ) 2,088,106
Increase in trade and other creditors 591,650 1,591,618
Cash generated from operations (396,313 ) 1,715,684

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 1,132,213 1,969,968
Bank overdrafts (503,586 ) (449,168 )
628,627 1,520,800
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 1,969,968 960,802
Bank overdrafts (449,168 ) (1,569,848 )
1,520,800 (609,046 )


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank 1,969,968 (837,755 ) 1,132,213
Bank overdrafts (449,168 ) (54,418 ) (503,586 )
1,520,800 (892,173 ) 628,627
Debt
Finance leases - (274,799 ) (274,799 )
Debts falling due within 1 year (299,697 ) - (299,697 )
Debts falling due after 1 year (2,022,955 ) 299,698 (1,723,257 )
(2,322,652 ) 24,899 (2,297,753 )
Total (801,852 ) (867,274 ) (1,669,126 )

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Tratos (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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements have been prepared on the going concern basis, the validity of which is dependent upon the continuing support of the parent company.

We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

Positive goodwill is in respect of the groups subsidiary company, HEPR Limited. It represents the goodwill on acquisition of a trade and is being amortised over its expected useful life of 5 years.

Negative goodwill is in respect of the acquisition of the group North West Cables Limited and is being written off to the Profit & Loss account.

Development costs
Expenditure on research and development is charged to the profit and loss account in the year in which it is incurred with the exception of expenditure incurred in respect of the development of major new products where the outcome of those projects is assessed as being reasonably certain as regards viability and technical feasibility. Such expenditure is capitalised and amortised straight line over the estimated period of sale for each product, commencing in the year that sales of the product are first made.

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 33.3% on cost, 33.3% straight line, 20% on reducing balance, 20% on cost, 10% on reducing balance and 3.33% on cost
Fixtures and fittings - 20% on reducing balance, 15% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those
assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable
amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment
loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is
recognised immediately in profit or loss.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Stocks are valued on the FIFO basis.

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 receivables, loans to fellow group companies 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.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, including trade and other payables, and bank loans 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.


TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants are deferred and released to the profit and loss account over the term of the grant dependent upon the group satisfying the terms and conditions.

3. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 1,759,290 1,854,892
Social security costs 187,096 204,853
Other pension costs 149,990 141,292
2,096,376 2,201,037

The average number of employees during the year was as follows:
31.12.24 31.12.23

42 43

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

3. EMPLOYEES AND DIRECTORS - continued

31.12.24 31.12.23
£    £   
Directors' remuneration 257,587 310,535
Directors' pension contributions to money purchase schemes 89,279 83,817

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 4

Information regarding the highest paid director is as follows:
31.12.24 31.12.23
£    £   
Emoluments etc 93,660 107,127
Pension contributions to money purchase schemes 23,906 23,710

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24 31.12.23
£    £   
Depreciation - owned assets 489,983 633,250
Development costs amortisation 238,804 -
Auditors' remuneration 18,809 18,716
Foreign exchange differences (6,608 ) 216,158

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Bank interest 905 21,622
Bank loan interest 59,905 130,815
Interest on parent company debt 55,000 43,115
Invoice discounting interest 41,918 3,182
Hire purchase 8,183 -
165,911 198,734

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
Overprovision in respect of earlier years (5,308 ) -

Deferred tax - 164,598
Tax on profit (5,308 ) 164,598

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

6. TAXATION - continued

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£    £   
Profit before tax 22,769 251,383
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 25 %)

5,692

62,846

Effects of:
Expenses not deductible for tax purposes 44,857 65,865
Capital allowances in excess of depreciation (8,929 ) (50,402 )
Utilisation of tax losses (41,620 ) (78,309 )
Adjustments to tax charge in respect of previous periods (5,308 ) -

Deferred tax - 164,598
Total tax (credit)/charge (5,308 ) 164,598

Tax effects relating to effects of other comprehensive income

31.12.24
Gross Tax Net
£    £    £   
Revaluation in the year 507,868 - 507,868

7. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


8. DEFINED CONTRIBUTION PENSION SCHEME

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to the profit and loss account in the period to which they relate.
The total cost of contributions in the year is £149,990 (2023: £141,292). At 31st December 2024 - £11,675 contributions were outstanding (2023:£9,219)

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

9. INTANGIBLE FIXED ASSETS

Group
Development
Goodwill Goodwill costs Totals
£    £    £    £   
COST
At 1 January 2024 126,325 (234,262 ) 876,757 768,820
Additions - - 77,731 77,731
At 31 December 2024 126,325 (234,262 ) 954,488 846,551
AMORTISATION
At 1 January 2024 126,325 (234,262 ) 449,796 341,859
Amortisation for year - - 238,804 238,804
At 31 December 2024 126,325 (234,262 ) 688,600 580,663
NET BOOK VALUE
At 31 December 2024 - - 265,888 265,888
At 31 December 2023 - - 426,961 426,961

Company
Development
costs
£   
COST
At 1 January 2024 876,757
Additions 77,731
At 31 December 2024 954,488
AMORTISATION
At 1 January 2024 449,796
Amortisation for year 238,804
At 31 December 2024 688,600
NET BOOK VALUE
At 31 December 2024 265,888
At 31 December 2023 426,961

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 8,063,331 13,926,544 650,037 11,141 22,651,053
Additions - 209,870 22,784 - 232,654
Revaluations (855,419 ) - - - (855,419 )
At 31 December 2024 7,207,912 14,136,414 672,821 11,141 22,028,288
DEPRECIATION
At 1 January 2024 1,371,199 4,538,468 381,658 10,635 6,301,960
Charge for year 11,228 451,216 27,408 131 489,983
Revaluation adjustments (1,363,287 ) - - - (1,363,287 )
At 31 December 2024 19,140 4,989,684 409,066 10,766 5,428,656
NET BOOK VALUE
At 31 December 2024 7,188,772 9,146,730 263,755 375 16,599,632
At 31 December 2023 6,692,132 9,388,076 268,379 506 16,349,093

Included in cost or valuation of land and buildings is freehold land of £463,000 (2023 - £463,000) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2024 (855,419 ) - - - (855,419 )
Cost 8,063,331 14,136,414 672,821 11,141 22,883,707
7,207,912 14,136,414 672,821 11,141 22,028,288

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

10. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 8,055,419 13,923,972 655,790 13,783 22,648,964
Additions - 209,870 22,784 - 232,654
Revaluations (855,419 ) - - - (855,419 )
At 31 December 2024 7,200,000 14,133,842 678,574 13,783 22,026,199
DEPRECIATION
At 1 January 2024 1,363,287 4,535,896 387,411 13,277 6,299,871
Charge for year 11,228 451,216 27,408 131 489,983
Revaluation adjustments (1,363,287 ) - - - (1,363,287 )
At 31 December 2024 11,228 4,987,112 414,819 13,408 5,426,567
NET BOOK VALUE
At 31 December 2024 7,188,772 9,146,730 263,755 375 16,599,632
At 31 December 2023 6,692,132 9,388,076 268,379 506 16,349,093

Included in cost or valuation of land and buildings is freehold land of £ 463,000 (2023 - £ 463,000 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2024 (855,419 ) - - - (855,419 )
Cost 8,055,419 14,133,842 678,574 13,783 22,881,618
7,200,000 14,133,842 678,574 13,783 22,026,199

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.24 31.12.23
£    £   
Cost 8,055,419 8,055,419
Aggregate depreciation 11,228 1,363,287

Value of land in freehold land and buildings 463,000 463,000

Freehold property were valued on an open market basis on 25 November 2024 by Lambert Smith Hampton .

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

11. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
£   
COST
At 1 January 2024
and 31 December 2024 100
NET BOOK VALUE
At 31 December 2024 100
At 31 December 2023 100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Hamilton Cables (East Anglia) Ltd
Registered office:
Nature of business: dormant
%
Class of shares: holding
Ordinary 100.00

The subsidiary has a nil balance sheet value for the years ended 31st December 2024 and 2023

The registered office of the subsidiary is:
1 Park Road
Holmewood Industrial Park
Holmewood
Chesterfield
Derbys S42 5UW

Hamilton Cables Limited
Registered office:
Nature of business: dormant
%
Class of shares: holding
Ordinary 100.00

The subsidiary has a nil balance sheet value for the years ended 31st December 2024 and 2023..

The registered office of the subsidiary is:
1 Park Road
Holmewood Industrial Park
Holmewood
Chesterfield
Derbys S42 5UW

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

11. FIXED ASSET INVESTMENTS - continued

North West Cables Limited
Registered office:
Nature of business: Distribution of cable
%
Class of shares: holding
Ordinary 100.00
31.12.24
£   
Aggregate capital and reserves (1,201 )
Loss for the year (1,201 )

The subsidiary was previously dormant in the financial year 2023 and has subsequently commenced trading in 2024

The registered office of the subsidiary is:
Randles Road
Knowsley Business Park
Knowsley
Merseyside
L34 9HX

HEPR Limited
Registered office:
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

The subsidiary has a nil balance sheet value for the years ended 31st December 2024 and 2023.

The registered office of the subsidiary is:
Randles Road
Knowsley Business Park
Knowsley
Merseyside
L34 9HX

Tratos Limited
Registered office:
Nature of business: Sales agency
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 3,949 4,199
Loss for the year (250 ) (164 )

The registered office of the subsidiary is:
Randles Road
Knowsley Business Park
Knowsley
Merseyside
L34 9HX

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

11. FIXED ASSET INVESTMENTS - continued

Tratos (N.I.) Limited
Registered office: Forsyth House, Cromac Square, Belfast, Antrim, Northern Ireland, BT2 8LA
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

The subsidiary has a nil balance sheet value for the years ended 31st December 2023 and 2022.


The subsidiaries Hamilton Cables Limited, Hamilton Cables (East Anglia) Limited, North West Cables Limited, Tratos (N.I.) Limited and Tratos Limited have claimed exemption from an audit by virtue of section 479A of the Companies Act 2006.

12. STOCKS

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Stock of finished goods 11,425,404 12,288,291 11,422,661 12,288,291
Work-in-progress 545,633 397,726 545,633 397,726
11,971,037 12,686,017 11,968,294 12,686,017

The total carrying amount of stock is pledged as security.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Trade debtors 4,371,769 1,824,726 4,371,769 1,824,726
Amounts owed by group undertakings - 2,604 4,777 2,604
Prepayments and accrued income 494,565 418,621 494,565 418,621
4,866,334 2,245,951 4,871,111 2,245,951

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans and overdrafts (see note 16) 803,283 748,865 803,283 748,865
Hire purchase contracts (see note 17) 52,765 - 52,765 -
Trade creditors 288,502 255,635 288,502 255,636
Amounts owed to group undertakings 13,151,441 12,610,362 13,151,441 12,610,362
Social security and other taxes 40,628 58,690 40,628 58,690
VAT 449,625 472,908 449,266 472,908
Accrued expenses 147,672 185,673 147,519 185,519
14,933,916 14,332,133 14,933,404 14,331,980

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank loans (see note 16) 1,723,257 2,022,955 1,723,257 2,022,955
Hire purchase contracts (see note 17) 222,034 - 222,034 -
Amounts owed to group undertakings 9,902,950 9,805,900 9,902,950 9,805,900
11,848,241 11,828,855 11,848,241 11,828,855

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 503,586 449,168 503,586 449,168
Bank loans 299,697 299,697 299,697 299,697
803,283 748,865 803,283 748,865
Amounts falling due between one and two years:
Bank loans 299,696 299,697 299,696 299,697
Amounts falling due between two and five years:
Bank loans 899,090 899,090 899,090 899,090
Amounts falling due in more than five years:
Repayable by instalments
Bank loans 524,471 824,168 524,471 824,168

The group has consolidated it's loans under one lender and the duration of the loan is for thirteen years. Interest is applied at 2.75% over the Bank of England base rate

The group has a commercial mortgage Lloyds bank for £1 million repayable over 5 years. Interest applied to this loan is at a fixed rate of 8.15% over the duration. The loan is secured against specified plant owned by the group

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 52,765 -
Between one and five years 222,034 -
274,799 -

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

17. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year 52,765 -
Between one and five years 222,034 -
274,799 -

Group
Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 18,254 15,316
Between one and five years 73,429 108,019
91,683 123,335

Company
Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 18,254 15,316
Between one and five years 73,429 108,019
91,683 123,335

18. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Bank overdraft 503,586 449,168 503,586 449,168
Bank loans 2,022,954 2,322,652 2,022,954 2,322,652
Hire purchase contracts 274,799 - 274,799 -
2,801,339 2,771,820 2,801,339 2,771,820

There is a charge over the company's land and buildings.
A cross guarantee and debenture between Tratos and its fellow group companies also exists.
Bank overdrafts are secured by means of a fixed and floating charge. The fixed charge is over all fixed assets plus present and future book and other debts. The floating charge is over all movable and intangible assets of the company.

19. PROVISIONS FOR LIABILITIES

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
£    £    £    £   
Deferred tax
Accelerated capital allowances 1,185,983 1,185,983 1,185,983 1,185,983

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

19. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 January 2024 1,185,983
Balance at 31 December 2024 1,185,983

Company
Deferred
tax
£   
Balance at 1 January 2024 1,185,983
Balance at 31 December 2024 1,185,983

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
1,500,080 Ordinary A £1 1,500,080 1,500,080
32 Ordinary B £1 - -
2,500,000 Ordinary C £1 4,000,000 4,000,000
5,500,080 5,500,080

£1,500,000 of debt owed to the parent company has been converted to Ordinary C shares during the year.

21. RESERVES

Group
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2024 830,907 - 32 830,939
Profit for the year 28,077 28,077
Transfer 9,777 (9,777 ) - -
Revaluation in year - 507,868 - 507,868
At 31 December 2024 868,761 498,091 32 1,366,884

TRATOS (UK) LIMITED (REGISTERED NUMBER: 01524815)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

21. RESERVES - continued

Company
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2024 826,961 - 32 826,993
Profit for the year 29,529 29,529
Transfer 9,777 (9,777 ) - -
Revaluation in year - 507,868 - 507,868
At 31 December 2024 866,267 498,091 32 1,364,390

Called-up share capital represents the nominal value of shares that have been issued.

Capital redemption reserve, this reserve records the nominal value of shares repurchased by the company.

Profit and loss account includes all current and prior period retained profits and losses.

22. ULTIMATE PARENT COMPANY

Tratos Srl (incorporated in Italy ) is regarded by the directors as being the company's ultimate parent company.

The parents registered office is:
Via Stadio, 2 - Pieve Santo Stefano (AR)
52036 -Italy

23. 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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Key management personnel of the entity or its parent (in the aggregate)
31.12.24 31.12.23
£    £   
Purchases 52,870 54,163

Other related parties
31.12.24 31.12.23
£    £   
Sales 16,713 -
Amount due from related party 20,055 -

24. ULTIMATE CONTROLLING PARTY

The controlling party is Dr A Bragagni.