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REGISTERED NUMBER: 01798633 (England and Wales)















PROTEKTOR GROUP UK LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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 3

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Statement of Financial Position 9

Company Statement of Financial Position 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Statement of Cash Flows 13

Notes to the Consolidated Statement of Cash Flows 14

Notes to the Consolidated Financial Statements 16


PROTEKTOR GROUP UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Miss R S Hill
Dr C Maisch
Mr S J Morgan
Mr C.G. Mossey



SECRETARY: Mrs J Phillips



REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



REGISTERED NUMBER: 01798633 (England and Wales)



AUDITORS: Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: Lloyds Bank plc
134 High Street
Stourbridge
West Midlands
DY8 1DS

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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.

REVIEW OF BUSINESS
The results for the year and financial position of the group are as shown in the annexed financial statements.

The directors consider the key performance indicators to be turnover, gross profit, operating profit and net assets, which communicate the financial performance and strength of the group and are all disclosed within the body of the financial statements.

The movements in gross profit and operating profit all reflect trading activity within the group of companies, all of which continue to compete in what remains a challenging trading climate with increasing competition and volatile market prices. Consistent control of overhead costs has reflected the trading results and the subsequent movement in net assets, demonstrating the value of the policies adopted by the group.

From knowledge and information available currently, the directors feel that consistent application of group policies and the continued refocusing of sales targeting will enable them to compete in what continues to be a difficult market.

PRINCIPAL RISKS AND UNCERTAINTIES
The group's activities expose it to a number of financial risks including cash flow risk, credit risk and price risk.

Cash flow risk
The group's activities expose it primarily to the financial risks of changes in foreign currency exchange rates. Interest bearing assets and liabilities are held at fixed rate, if considered appropriate, to ensure certainty of cash flows.

Credit risk
The group's principal financial assets are trade and other receivables. The group's credit risk is primarily attributable to its trade receivables. The amounts presented in the statement of financial position are net of allowances for doubtful receivables. The group has no significant concentration of credit risk, with exposure spread over a large number of counterparts and customers.

Price risk
The group is exposed to commodity price risk, but endeavours to manage this risk.

ON BEHALF OF THE BOARD:





Miss R S Hill - Director


12 May 2025

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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 ACTIVITY
The principal activity of the group in the year under review was that of suppliers of profiles to the construction industry.

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

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Miss R S Hill
Dr C Maisch
Mr S J Morgan
Mr C.G. Mossey

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 auditors are 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 auditors are aware of that information.

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


AUDITORS
The auditors, Folkes Worton LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Miss R S Hill - Director


12 May 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROTEKTOR GROUP UK LIMITED


Opinion
We have audited the financial statements of Protektor Group 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 Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 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 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 Auditors 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROTEKTOR GROUP UK LIMITED


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.

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 three, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROTEKTOR GROUP UK LIMITED


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 Auditors 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.

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 gained an understanding of the legal and regulatory framework applicable to the group and company and the industries in which they operate, and considered the risk of acts by the group and company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would be to become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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 Auditors.

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 Auditors 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.




Nigel Meredith FCA (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

12 May 2025

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 3 14,580,696 15,188,551

Cost of sales 7,501,196 8,078,610
GROSS PROFIT 7,079,500 7,109,941

Administrative expenses 6,731,608 6,624,901
347,892 485,040

Other operating income 28,990 29,473
OPERATING PROFIT 5 376,882 514,513

Interest receivable and similar income 7,297 1,360
384,179 515,873

Interest payable and similar expenses 6 27,219 32,887
PROFIT BEFORE TAXATION 356,960 482,986

Tax on profit 7 102,483 126,078
PROFIT FOR THE FINANCIAL YEAR 254,477 356,908

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

254,477

356,908

Profit attributable to:
Owners of the parent 252,592 356,907
Non-controlling interests 1,885 1
254,477 356,908

Total comprehensive income attributable to:
Owners of the parent 252,592 356,907
Non-controlling interests 1,885 1
254,477 356,908

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 3,912,097 4,007,482
Investments 12 - -
3,912,097 4,007,482

CURRENT ASSETS
Stocks 13 2,723,992 2,850,061
Debtors 14 2,629,399 2,750,638
Cash at bank and in hand 1,861,827 1,650,308
7,215,218 7,251,007
CREDITORS
Amounts falling due within one year 15 1,644,572 1,877,329
NET CURRENT ASSETS 5,570,646 5,373,678
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,482,743

9,381,160

CREDITORS
Amounts falling due after more than one year 16 (174,470 ) (341,921 )

PROVISIONS FOR LIABILITIES 20 (446,901 ) (432,344 )
NET ASSETS 8,861,372 8,606,895

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 22 8,776,503 8,523,911
SHAREHOLDERS' FUNDS 8,776,603 8,524,011

NON-CONTROLLING INTERESTS 23 84,769 82,884
TOTAL EQUITY 8,861,372 8,606,895

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:



Miss R S Hill - Director


PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

COMPANY STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 2,205,398 2,260,030
Investments 12 862,003 862,003
3,067,401 3,122,033

CURRENT ASSETS
Stocks 13 2,723,992 2,850,061
Debtors 14 4,696,870 4,821,026
Cash at bank and in hand 1,479,320 1,244,391
8,900,182 8,915,478
CREDITORS
Amounts falling due within one year 15 3,072,482 3,226,873
NET CURRENT ASSETS 5,827,700 5,688,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,895,101

8,810,638

CREDITORS
Amounts falling due after more than one year 16 (85,392 ) (145,066 )

PROVISIONS FOR LIABILITIES 20 (415,204 ) (400,255 )
NET ASSETS 8,394,505 8,265,317

CAPITAL AND RESERVES
Called up share capital 21 100 100
Retained earnings 22 8,394,405 8,265,217
SHAREHOLDERS' FUNDS 8,394,505 8,265,317

Company's profit for the financial year 129,188 266,715

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:




Miss R S Hill - Director


PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   
Balance at 1 January 2023 100 8,687,004 8,687,104 82,883 8,769,987

Changes in equity
Dividends - (520,000 ) (520,000 ) - (520,000 )
Total comprehensive income - 356,907 356,907 1 356,908
Balance at 31 December 2023 100 8,523,911 8,524,011 82,884 8,606,895

Changes in equity
Total comprehensive income - 252,592 252,592 1,885 254,477
Balance at 31 December 2024 100 8,776,503 8,776,603 84,769 8,861,372

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100 8,518,502 8,518,602

Changes in equity
Dividends - (520,000 ) (520,000 )
Total comprehensive income - 266,715 266,715
Balance at 31 December 2023 100 8,265,217 8,265,317

Changes in equity
Total comprehensive income - 129,188 129,188
Balance at 31 December 2024 100 8,394,405 8,394,505

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 880,230 1,339,188
Interest paid (17,872 ) (22,078 )
Interest element of hire purchase payments
paid

(9,347

)

(10,809

)
Tax paid (99,969 ) (259,326 )
Net cash from operating activities 753,042 1,046,975

Cash flows from investing activities
Purchase of tangible fixed assets (251,381 ) (112,580 )
Sale of tangible fixed assets 888 10,000
Interest received 7,297 1,360
Net cash from investing activities (243,196 ) (101,220 )

Cash flows from financing activities
Loan repayments in year (136,063 ) (157,299 )
Capital repayments in year (56,418 ) (58,890 )
Equity dividends paid - (520,000 )
Movement in group balances (105,846 ) (123,665 )
Net cash from financing activities (298,327 ) (859,854 )

Increase in cash and cash equivalents 211,519 85,901
Cash and cash equivalents at beginning of
year

2

1,650,308

1,564,407

Cash and cash equivalents at end of year 2 1,861,827 1,650,308

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024


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

2024 2023
£    £   
Profit before taxation 356,960 482,986
Depreciation charges 346,766 333,152
Profit on disposal of fixed assets (888 ) (10,000 )
Finance costs 27,219 32,887
Finance income (7,297 ) (1,360 )
722,760 837,665
Decrease in stocks 126,069 591,551
Decrease in trade and other debtors 84,050 260,964
Decrease in trade and other creditors (52,649 ) (350,992 )
Cash generated from operations 880,230 1,339,188

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024
31/12/24 1/1/24
£    £   
Cash and cash equivalents 1,861,827 1,650,308
Year ended 31 December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 1,650,308 1,961,718
Bank overdrafts - (397,311 )
1,650,308 1,564,407


PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24 Cash flow At 31/12/24
£    £    £   
Net cash
Cash at bank and in hand 1,650,308 211,519 1,861,827
1,650,308 211,519 1,861,827
Debt
Finance leases (201,485 ) 56,418 (145,067 )
Debts falling due within 1 year (99,787 ) 28,286 (71,501 )
Debts falling due after 1 year (196,855 ) 107,777 (89,078 )
(498,127 ) 192,481 (305,646 )
Total 1,152,181 404,000 1,556,181

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


1. STATUTORY INFORMATION

Protektor Group 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.

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts.

Revenue from the sale of goods is recognised when:
- the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods;
- the amount of the revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. The useful life of each asset is estimated as:
Buildings- 33 years
Outside facilities- 15 to 33 years
Technical equipment and machinery- 5 to 14 years
Factory and office equipment- 3 to 14 years
Motor vehicles- 6 years
Hardware- 3 years
No depreciation is provided on freehold land.

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.

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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.

Financial assets and liabilities are offset, with the net amounts being 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
Trade and other debtors, including accrued income, which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially measured 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. Debt instruments are subsequently carried at amortised cost using the effective interest rate method.

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

Cash and cash equivalents
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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 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.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 13,443,597 13,822,705
Europe 1,017,829 1,283,088
United States of America 11,638 -
Asia 107,632 81,124
Africa - 1,634
14,580,696 15,188,551

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,398,243 3,268,663
Social security costs 344,178 320,000
Other pension costs 118,789 110,674
3,861,210 3,699,337

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administration and sales 43 43
Production and warehousing 61 56
104 99

2024 2023
£    £   
Directors' remuneration 254,027 277,124
Directors' pension contributions to money purchase schemes 12,736 10,697

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

Money purchase schemes 3 3

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 93,677 99,441
Pension contributions to money purchase schemes 4,650 3,955

5. OPERATING PROFIT

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

2024 2023
£    £   
Hire of plant and machinery 345,204 336,649
Depreciation - owned assets 323,226 306,240
Depreciation - assets on hire purchase contracts 23,540 25,501
Profit on disposal of fixed assets (888 ) (10,000 )
Computer software amortisation - 1,411
Auditors' remuneration 28,640 29,088
Auditors' remuneration for non audit work 5,808 9,513
Foreign exchange differences (11,519 ) 9,156

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 8,092 14,665
Loan interest 2,210 5,796
Other interest 7,570 1,617
Hire purchase interest 9,347 10,809
27,219 32,887

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 87,933 140,057
Prior year tax adjustment (7 ) -
Total current tax 87,926 140,057

Deferred tax:
Charge re current year 14,557 (13,979 )
Tax on profit 102,483 126,078

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

2024 2023
£    £   
Profit before tax 356,960 482,986
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 23.520 %)

89,240

113,598

Effects of:
Expenses not deductible for tax purposes 2,308 3,270
Depreciation in excess of capital allowances 10,948 9,210
Utilisation of tax losses (6 ) -
Adjustments to tax charge in respect of previous periods (7 ) -
Total tax charge 102,483 126,078

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


8. 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.


9. DIVIDENDS
2024 2023
£    £   
Interim - 520,000

10. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 357,027 77,412 434,439
AMORTISATION
At 1 January 2024
and 31 December 2024 357,027 77,412 434,439
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 - - -

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2024 3,194,052 3,610,185 462,056 7,266,293
Additions 11,194 236,602 3,585 251,381
At 31 December 2024 3,205,246 3,846,787 465,641 7,517,674
DEPRECIATION
At 1 January 2024 699,902 2,218,865 340,044 3,258,811
Charge for year 104,280 213,989 28,497 346,766
At 31 December 2024 804,182 2,432,854 368,541 3,605,577
NET BOOK VALUE
At 31 December 2024 2,401,064 1,413,933 97,100 3,912,097
At 31 December 2023 2,494,150 1,391,320 122,012 4,007,482

Included in cost of land and buildings is freehold land of £1,000,000 (2023 - £1,000,000) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2024
and 31 December 2024 333,506
DEPRECIATION
At 1 January 2024 27,486
Charge for year 23,540
At 31 December 2024 51,026
NET BOOK VALUE
At 31 December 2024 282,480
At 31 December 2023 306,020

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


11. TANGIBLE FIXED ASSETS - continued

Company
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2024 889,983 3,610,185 462,056 4,962,224
Additions 11,195 236,602 3,585 251,382
At 31 December 2024 901,178 3,846,787 465,641 5,213,606
DEPRECIATION
At 1 January 2024 143,285 2,218,865 340,044 2,702,194
Charge for year 63,528 213,989 28,497 306,014
At 31 December 2024 206,813 2,432,854 368,541 3,008,208
NET BOOK VALUE
At 31 December 2024 694,365 1,413,933 97,100 2,205,398
At 31 December 2023 746,698 1,391,320 122,012 2,260,030

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2024
and 31 December 2024 333,506
DEPRECIATION
At 1 January 2024 27,486
Charge for year 23,540
At 31 December 2024 51,026
NET BOOK VALUE
At 31 December 2024 282,480
At 31 December 2023 306,020

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 862,003
NET BOOK VALUE
At 31 December 2024 862,003
At 31 December 2023 862,003

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Euro Profile International Systems Limited
Registered office: 15-17 Church Street, Stourbridge, West Midlands, DY8 1LU
Nature of business: Property rental
%
Class of shares: holding
Ordinary 100.00

Protektor UK Limited
Registered office: c/o Maclay Murray & Spens LLP, 1 George Square, Glasgow, G2 1AL
Nature of business: Manufacture of angle beads
%
Class of shares: holding
Ordinary 100.00
Ordinary A and Ordinary B


13. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Raw materials 527,765 527,732 527,765 527,732
Work in progress 8,133 20,175 8,133 20,175
Finished goods 2,188,094 2,302,154 2,188,094 2,302,154
2,723,992 2,850,061 2,723,992 2,850,061

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 1,763,413 1,870,494 1,763,413 1,870,494
Amounts owed by group undertakings 28,694 72,788 2,096,165 2,143,207
Other debtors 648,464 648,811 648,464 648,811
Tax 45,515 38,610 45,515 38,579
Prepayments 143,313 119,935 143,313 119,935
2,629,399 2,750,638 4,696,870 4,821,026

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 17) 71,501 99,787 - -
Hire purchase contracts (see note 18) 59,675 56,419 59,675 56,419
Trade creditors 867,055 817,504 867,056 817,501
Amounts owed to group undertakings 169,771 319,711 1,706,579 1,811,601
Tax 32,572 37,710 - -
Social security and other taxes 236,061 276,109 236,061 276,109
Other creditors 1,443 74,477 1,443 74,477
Accruals 206,494 195,612 201,668 190,766
1,644,572 1,877,329 3,072,482 3,226,873

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

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans (see note 17) 89,078 196,855 - -
Hire purchase contracts (see note 18) 85,392 145,066 85,392 145,066
174,470 341,921 85,392 145,066

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


17. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 71,501 99,787
Amounts falling due between one and two years:
Bank loans 76,137 102,822
Amounts falling due between two and five years:
Bank loans 12,941 94,033

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 65,766 65,766
Between one and five years 88,457 154,222
154,223 219,988

Finance charges repayable:
Within one year 6,091 9,347
Between one and five years 3,065 9,156
9,156 18,503

Net obligations repayable:
Within one year 59,675 56,419
Between one and five years 85,392 145,066
145,067 201,485

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


18. LEASING AGREEMENTS - continued

Company
Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 65,766 65,766
Between one and five years 88,457 154,222
154,223 219,988

Finance charges repayable:
Within one year 6,091 9,347
Between one and five years 3,065 9,156
9,156 18,503

Net obligations repayable:
Within one year 59,675 56,419
Between one and five years 85,392 145,066
145,067 201,485

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 338,055 392,622
Between one and five years 285,026 288,451
623,081 681,073

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 530,555 585,122
Between one and five years 734,193 930,117
1,264,748 1,515,239

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


19. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 160,579 296,642 - -
Hire purchase contracts 145,067 201,485 145,067 201,485
305,646 498,127 145,067 201,485

Bank borrowing is secured by fixed and floating charges over the undertakings and all property and assets present and future.

Hire purchase and finance lease liabilities are secured on the assets acquired

20. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax
Accelerated capital allowances 447,840 448,424 416,143 416,335
Other timing differences (939 ) (16,080 ) (939 ) (16,080 )
446,901 432,344 415,204 400,255

Group
Deferred
tax
£   
Balance at 1 January 2024 432,344
Charge to Statement of Comprehensive Income during year 14,557
Balance at 31 December 2024 446,901

Company
Deferred
tax
£   
Balance at 1 January 2024 400,255
Charge to Statement of Comprehensive Income during year 14,949
Balance at 31 December 2024 415,204

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

22. RESERVES

Group
Retained
earnings
£   

At 1 January 2024 8,523,911
Profit for the year 252,592
At 31 December 2024 8,776,503

Company
Retained
earnings
£   

At 1 January 2024 8,265,217
Profit for the year 129,188
At 31 December 2024 8,394,405


23. NON-CONTROLLING INTERESTS

Protektor UK Limited has issued share capital of 17,000 ordinary shares of £1 each, 500 A ordinary shares of £1 each and 500 B ordinary shares of £1 each. All shares carry equal rights.

The company holds all of the ordinary shares but the A and B ordinary shares are held by Protektorwerk Florenz Maisch GmbH & Co. KG, the parent company. As these consolidated financial statements only contain information on the sub-group headed by Protektor Group UK Limited, the holding by Protektorwerk Florenz Maisch GmbH & Co. KG, is treated as a non-controlling interest.

24. CONTINGENT LIABILITIES

Each company within the group is party to a guarantee in respect of the bank borrowing of Hoo and How Limited, a company incorporated in England and Wales, which is wholly owned by Dr C. Maisch, a director of the company. At the statement of financial position date, the balance on this borrowing was £1,125,143 (2023 - £1,213,615).

There is also a contingent liability to the company's bankers in respect of a VAT deferment guarantee of £20,000 (2023 - £20,000).

PROTEKTOR GROUP UK LIMITED (REGISTERED NUMBER: 01798633)

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


25. RELATED PARTY DISCLOSURES

Hoo and How Limited is a company incorporated in England and Wales and is wholly owned by Dr C. Maisch, a director of the company. The company is owed the sum of £648,464 (2023 - £648,464) from Hoo and How Limited and this amount is included in other debtors. No interest has been charged on the loan.

26. ULTIMATE CONTROLLING PARTY

The parent company and ultimate parent company is Protektorwerk Florenz Maisch GmbH & Co. KG, a company registered in Germany.

The ultimate controlling party is Dr C. Maisch.