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REGISTERED NUMBER: NI027437 (Northern Ireland)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TEKNOS IRELAND LIMITED

TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TEKNOS IRELAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M Hubbert
M Makkonen



REGISTERED OFFICE: 54 Ballymoughan Road
Magherafelt
Co. Londonderry
BT45 6HN



REGISTERED NUMBER: NI027437 (Northern Ireland)



INDEPENDENT AUDITORS: Armstrongs Accountancy Ltd
Chartered Accountants and Statutory Auditor
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX



BANKERS: Danske Bank A/S
75 King William Street
London
EC4N 7DT

TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,718 86,656

CURRENT ASSETS
Stocks 661,946 516,986
Debtors 5 1,660,300 2,486,217
2,322,246 3,003,203
CREDITORS
Amounts falling due within one year 6 194,259 334,444
NET CURRENT ASSETS 2,127,987 2,668,759
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,215,705

2,755,415

PROVISIONS FOR LIABILITIES 8 13,469 21,718
NET ASSETS 2,202,236 2,733,697

CAPITAL AND RESERVES
Called up share capital 9 55,000 55,000
Share premium 10 10,000 10,000
Retained earnings 10 2,137,236 2,668,697
SHAREHOLDERS' FUNDS 2,202,236 2,733,697

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:





M Hubbert - Director


TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Teknos Ireland Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern
The directors monitor the company's performance and its cash requirements on a regular basis. On this basis, the directors are of the opinion that the Company has adequate facilities available to meet its liabilities as and when they fall due,

The directors have looked ahead for a period in excess of 12 months from the date the financial statements are authorised in forming their assessment that the Company is a going concern.

The directors have assessed the Company's ability to operate as a going concern. The uncertainty as to the future impact on the Company of recent macro-economic events such as Russia/Ukraine war and Brexit have been considered as part of the Company's adoption of the going concern.

Related party exemption
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.

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

Revenue is recognised when the risks and rewards of the inventory are passed to the customer. This is the point when goods are dispatched for delivery.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 4% on cost
Plant and machinery - 15% on reducing balance
Office equipment - 25% on reducing balance

TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

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

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
The Company's functional and presentational currency is GBP.

Transactions and balances:
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non­ monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

The company is in a cash pool agreement with the group. This arrangement allows for all participant accounts to be swept to a specific account named under Teknos Group OY. This account is fully accessible by the Company.

TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Office
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 January 2024 38,035 111,828 21,435 171,298
Additions - 8,316 1,600 9,916
At 31 December 2024 38,035 120,144 23,035 181,214
DEPRECIATION
At 1 January 2024 5,296 62,601 16,745 84,642
Charge for year 760 6,975 1,119 8,854
At 31 December 2024 6,056 69,576 17,864 93,496
NET BOOK VALUE
At 31 December 2024 31,979 50,568 5,171 87,718
At 31 December 2023 32,739 49,227 4,690 86,656

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 651,438 613,454
Amounts owed by group undertakings 923,026 1,870,709
Other debtors 85,836 2,054
1,660,300 2,486,217

TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amounts owed by group undertakings are interest free, unsecured and are repayable on demand. Current year balance mainly relates to the group cash pooling arrangement. The Company has access to intra-group funding from the ultimate parent, the extent of which is deemed sufficient for its purposes.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,776 22,458
Taxation and social security 156,406 286,741
Other creditors 22,077 25,245
194,259 334,444

Amounts owed to group undertakings are interest free, unsecured and are repayable on demand. Current year balance mainly relates to the group cash pooling arrangement. The Company has access to intra-group funding from the ultimate parent, the extent of which is deemed sufficient for its purposes.

Obligations under finance leases and hire purchase contracts are secured against the asset to which they relate.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 44,892 41,052
Between one and five years 39,925 42,017
84,817 83,069

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 13,469 21,718

Deferred
tax
£   
Balance at 1 January 2024 21,718
Credit to Income Statement during year (8,249 )
Accelerated capital allowances
Balance at 31 December 2024 13,469

TEKNOS IRELAND LIMITED (REGISTERED NUMBER: NI027437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
55,000 Ordinary 1.00 55,000 55,000

There is a single class of ordinary shares. There are no restrictions on dividends and the repayment of capital.

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2024 2,668,697 10,000 2,678,697
Profit for the year 468,539 468,539
Dividends (1,000,000 ) (1,000,000 )
At 31 December 2024 2,137,236 10,000 2,147,236

Share premium account:
Share premium account includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

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

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

The Auditors' Report was unqualified.

Muhammed Shabbir FCA, FCCA (Senior Statutory Auditor)
for and on behalf of Armstrongs Accountancy Ltd

12. ULTIMATE CONTROLLING PARTY

The Company's immediate parent company is Nuko 74 Limited, a company incorporated in the United Kingdom.

The Company's ultimate controlling party is considered to be Paula Salastie based on her 95% holding of Teknos Group OY.