Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falsetruetruetruefalsetruetruetruetrueNo description of principal activitytrue2024-01-01true22 01945608 2024-01-01 2024-12-31 01945608 2023-01-01 2023-12-31 01945608 2024-12-31 01945608 2023-12-31 01945608 2023-01-01 01945608 c:Director1 2024-01-01 2024-12-31 01945608 c:Director2 2024-01-01 2024-12-31 01945608 c:RegisteredOffice 2024-01-01 2024-12-31 01945608 d:CurrentFinancialInstruments 2024-12-31 01945608 d:CurrentFinancialInstruments 2023-12-31 01945608 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01945608 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01945608 d:UKTax 2024-01-01 2024-12-31 01945608 d:UKTax 2023-01-01 2023-12-31 01945608 d:ShareCapital 2024-01-01 2024-12-31 01945608 d:ShareCapital 2024-12-31 01945608 d:ShareCapital 2023-01-01 2023-12-31 01945608 d:ShareCapital 2023-12-31 01945608 d:ShareCapital 2023-01-01 01945608 d:SharePremium 2024-01-01 2024-12-31 01945608 d:SharePremium 2024-12-31 01945608 d:SharePremium 2023-01-01 2023-12-31 01945608 d:SharePremium 2023-12-31 01945608 d:SharePremium 2023-01-01 01945608 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01945608 d:RetainedEarningsAccumulatedLosses 2024-12-31 01945608 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01945608 d:RetainedEarningsAccumulatedLosses 2023-12-31 01945608 d:RetainedEarningsAccumulatedLosses 2023-01-01 01945608 c:OrdinaryShareClass1 2024-01-01 2024-12-31 01945608 c:OrdinaryShareClass1 2024-12-31 01945608 c:OrdinaryShareClass1 2023-12-31 01945608 c:EntityHasNeverTraded 2024-01-01 2024-12-31 01945608 c:FRS102 2024-01-01 2024-12-31 01945608 c:Audited 2024-01-01 2024-12-31 01945608 c:FullAccounts 2024-01-01 2024-12-31 01945608 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01945608 d:Subsidiary1 2024-01-01 2024-12-31 01945608 d:Subsidiary1 1 2024-01-01 2024-12-31 01945608 d:Subsidiary2 2024-01-01 2024-12-31 01945608 d:Subsidiary2 1 2024-01-01 2024-12-31 01945608 d:Subsidiary3 2024-01-01 2024-12-31 01945608 d:Subsidiary3 1 2024-01-01 2024-12-31 01945608 6 2024-01-01 2024-12-31 01945608 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 01945608












AL-KO KOBER HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 

AL-KO KOBER HOLDINGS LIMITED

CONTENTS



Page
Company information
 
1
Strategic report
 
2
Directors' report
 
3 - 4
Directors' responsibilities statement
 
5
Independent auditor's report
 
6 - 9
Profit and loss account
 
10
Balance sheet
 
11
Statement of changes in equity
 
12
Notes to the financial statements
 
13 - 22


 

AL-KO KOBER HOLDINGS LIMITED
 
COMPANY INFORMATION


Directors
P J Eustace 
H Hiller 




Registered number
01945608



Registered office
South Warwickshire Business Park
Kineton Road

Southam

Warwickshire

CV47 0AL




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1 -

 

AL-KO KOBER HOLDINGS LIMITED
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

Introduction
The directors present their strategic report for the year ended 31 December 2024.
The principal activity of the company is that of an intermediate holding company.

Business review
 
The directors consider the results of the year to be satisfactory and look forward to the coming year with confidence.
The company generated a loss before tax of £184,299 during the year (2023 - a profit before tax of £235,253).

Principal risks and uncertainties
 
The company considers its principal risk to be the financial performance of its subsidiary, AL-KO Kober Limited, which supports the carrying value of the company’s investment and who is able to provide support to this company, should it be required to meet its liabilities as they fall due.  The risk is managed through regular review by the board.

Financial key performance indicators
 
The key performance indicators for the company are those of the subsidiary and are provided in the table below.  There are no non-financial key performance indicators for the company.

2024
£
2023
£
Change
£
Change
%
Turnover
60,067,000
91,498,000
(31,431,000)
(34.4)
Profit for the financial year
2,160,000
6,213,000
(4,053,000)
(65.2)
Shareholders' equity
25,148,000
23,007,000
2,141,000
9.3


Future developments

In 2025, integration of previous acquisitions will continue, including sharing resources and functions between the sites, together with further development of the offering of the group's activities.


This report was approved by the board and signed on its behalf.



P J Eustace
Director

Date: 14 July 2025

Page 2 -

 

AL-KO KOBER HOLDINGS LIMITED

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

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

Directors

The directors who served during the year were:

P J Eustace 
H Hiller 

Financial risk management

The company's directors recognise the importance of sound risk management to the success of operations and accordingly set policies to mitigate the risks. The principal risks and uncertainties facing the company and the potential impact and mitigation are summarised below.

Risk Category
Potential Impact
Mitigation
Counterparty credit risk
A fellow subsidiary undertaking may not satisfy its contractual obligations in meeting its inter-company liabilities.
Counterparty credit risk is mitigated by ensuring that loans to fellow subsidiaries contribute to the long term success of the group.

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least 12 months from the date these financial statements were approved.
The company's ability to remain a going concern relies on the ability of its immediate trading subsidiary, AL-KO Kober Limited, to continue to trade successfully as it has in recent years. The directors have prepared cashflow forecasts which demonstrate that this company has appropriate resources for the foreseeable future. The forecasts reflect the profit and cash generative recent history of the business and its strong market position. They also reflect the lack of external debt.
Given the facts noted above, the directors consider if appropriate for the going concern basis to be adopted in preparing these financial statements.

Matters covered in the Strategic report

As permitted by s414c(11) of the Companies Act 2006, the directors have elected to disclose information, required to be in the directors' report by Schedule 7 of the 'Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008', in the strategic report.

Page 3 -

 

AL-KO KOBER HOLDINGS LIMITED

DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024


Disclosure of information to auditor

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Auditor

The auditor, Blick Rothenberg Audit LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





P J Eustace
Director

Date: 14 July 2025

Page 4 -

 

AL-KO KOBER HOLDINGS LIMITED
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

The directors are responsible for preparing the strategic report, the directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Page 5 -

 

AL-KO KOBER HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AL-KO KOBER HOLDINGS LIMITED
 FOR THE YEAR ENDED 31 DECEMBER 2024

Opinion


We have audited the financial statements of AL-KO Kober Holdings Limited (the 'company') for the year ended 31 December 2024, which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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 company's affairs as at 31 December 2024 and of its loss 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's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


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 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.


Page 6 -

 

AL-KO KOBER HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AL-KO KOBER HOLDINGS LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Other information


The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual reportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion 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 strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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 directors' responsibilities statement set out on page 5, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.


Page 7 -

 

AL-KO KOBER HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AL-KO KOBER HOLDINGS LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Auditor's 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 an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these 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:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company; 
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested a sample of journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation; and
enquiring of management as to actual and potential litigation and claims; 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards require that we identify non-compliance with laws and regulations through enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any, as well as any additional procedures deemed necessary. 

 
Page 8 -

 

AL-KO KOBER HOLDINGS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AL-KO KOBER HOLDINGS LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


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 auditor's report.


Use of our report
 

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member for our audit work, for this report, or for the opinions we have formed.





Mahmood Ramji (senior statutory auditor)
  
for and on behalf of
Blick Rothenberg Audit LLP
 
Chartered Accountants
Statutory Auditor
  
16 Great Queen Street
Covent Garden
London
WC2B 5AH

 
Date: 
14 July 2025
Page 9 -

 

AL-KO KOBER HOLDINGS LIMITED
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Administrative expenses
  
(184,299)
603,002

Operating (loss)/profit
  
(184,299)
603,002

Interest payable and similar expenses
 5 
-
(367,749)

(Loss)/profit before tax
  
(184,299)
235,253

Tax on (loss)/profit
 6 
-
(55,333)

(Loss)/profit for the financial year
  
(184,299)
179,920

The company has not traded during the year. During this period, the company received no income and incurred no expenditure other than exempted payments under the provisions of section 1169 (3)(b) of the Companies Act 2006.

The notes on pages 13 to 22 form part of these financial statements.

There are no items of other comprehensive income for either the year or the prior year other than the profit or loss for the year. Accordingly, no statement of comprehensive income has been presented.

Page 10 -


 
REGISTERED NUMBER:01945608
AL-KO KOBER HOLDINGS LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 7 
23,903,856
23,903,856

  
23,903,856
23,903,856

  

Creditors: amounts falling due within one year
 8 
(19,751,085)
(19,566,786)

Net current liabilities
  
 
 
(19,751,085)
 
 
(19,566,786)

Total assets less current liabilities
  
4,152,771
4,337,070

  

Net assets
  
4,152,771
4,337,070


Capital and reserves
  

Called up share capital 
 9 
2,300,000
2,300,000

Share premium account
 10 
327,103
327,103

Profit and loss account
 10 
1,525,668
1,709,967

Total equity
  
4,152,771
4,337,070


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P J Eustace
Director

Date: 14 July 2025

The notes on pages 13 to 22 form part of these financial statements.

Page 11 -

 

AL-KO KOBER HOLDINGS LIMITED

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


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2023
2,300,000
327,103
1,530,047
4,157,150


Comprehensive income for the year

Profit for the year
-
-
179,920
179,920
Total comprehensive income for the year
-
-
179,920
179,920



At 1 January 2024
2,300,000
327,103
1,709,967
4,337,070


Comprehensive income for the year

Loss for the year
-
-
(184,299)
(184,299)
Total comprehensive income for the year
-
-
(184,299)
(184,299)


At 31 December 2024
2,300,000
327,103
1,525,668
4,152,771


The notes on pages 13 to 22 form part of these financial statements.

Page 12 -

 

AL-KO KOBER HOLDINGS LIMITED

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

1.


General information

The Company is a private company limited by shares and incorporated in England and Wales. The address of its registered office and principal place of business is South Warwickshire Business Park, Kineton Road, Southam, Warwickshire, CV47 0AL.
The financial statements are presented in Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of DexKo Global Holdings Inc. as at 31 December 2024 and these financial statements may be obtained from 39555 Orchard Hill PI #525 Novi, Ml 48375, USA.

 
2.3

Exemption from preparing consolidated financial statements

The company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

Page 13 -

 

AL-KO KOBER HOLDINGS LIMITED

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

2.Accounting policies (continued)

 
2.4

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least 12 months from the date these financial statements were approved.
The company's ability to remain a going concern relies on the ability of its immediate trading subsidiary, AL-KO Kober Limited, to continue to trade successfully as it has in recent years. The directors have prepared cashflow forecasts which demonstrate that this company has appropriate resources for the foreseeable future. The forecasts reflect the profit and cash generative recent history of the business and its strong market position. They also reflect the lack of external debt.
Given the facts noted above, the directors consider if appropriate for the going concern basis to be adopted in preparing these financial statements.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.6

Impairment of non-financial assets

At each balance sheet date non-financial assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.
The recoverable amount of the asset is the higher of the fair value less costs to sell and value in use. Value in use is defined as the present value of the future cash flows before interest and tax obtainable as a result of the asset’s continued use. These cash flows are discounted using a pre-tax discount rate that represents the current market risk-free rate and the risks inherent in the asset.
If the recoverable amount of the asset is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the profit and loss account, unless the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in profit or loss.
If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the profit and loss account.

Page 14 -

 

AL-KO KOBER HOLDINGS LIMITED

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

2.Accounting policies (continued)

 
2.7

Foreign currency translation

Functional and presentation currency

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 profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 15 -

 

AL-KO KOBER HOLDINGS LIMITED

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

2.Accounting policies (continued)

  
2.9

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
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.
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Impairment on investments in subsidiaries
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets 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 profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the 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. 
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.
 
Page 16 -

 

AL-KO KOBER HOLDINGS LIMITED

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

2.Accounting policies (continued)


Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


  
2.11

Share capital

Ordinary shares are classified as equity. 

  
2.12

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established.

  
2.13

Impairment of fixed assets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 17 -

 

AL-KO KOBER HOLDINGS LIMITED

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

3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2


4.


Directors remuneration

The directors of the company are paid by its subsidiary, AL-KO Kober Limited. The amount of time spent undertaking their duties as directors of AL-KO Kober Holdings Limited is minimal and therefore no cost is allocated to the company and directors remuneration is not disclosed. 


5.


Interest payable and similar expenses

2024
2023
£
£


Loans from group undertakings
-
367,749


6.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
-
55,333


Tax on (loss)/profit
 
-
 
55,333
Page 18 -

 

AL-KO KOBER HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
6.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - the same as) the standard rate of corporation tax in the UK of 25% (2023 - 23.5%). The differences are explained below:

2024
2023
£
£


(Loss)/profit on ordinary activities before tax
(184,299)
235,253


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.5%)
(46,075)
55,333

Effects of:


Group relief
46,075
-

Total tax charge for the year
-
55,333

The substantively enacted corporation tax rate is 25%. Deferred taxes at balance sheet date have been measured at the corporation tax rate of 25% and are reflected as such in these financial statements.


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 19 -

 

AL-KO KOBER HOLDINGS LIMITED

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

7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
24,487,807



At 31 December 2024

24,487,807



Impairment


At 1 January 2024
583,951



At 31 December 2024

583,951



Net book value



At 31 December 2024
23,903,856



At 31 December 2023
23,903,856


Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Class of shares

Holding

AL-KO Kober Limited
South Warwickshire
Business Park, Kineton
Road, Southam,
Warwickshire, CV47
0AL
Ordinary
100%
Bankside Patterson Limited*
30 Finsbury Square,  London, EC2A 1AG
Ordinary
100%
E&P Hydraulics UK Limited**
30 Finsbury Square,  London, EC2A 1AG
Ordinary
100%

The above subsidiaries are included in the consolidated financial statements of AL-KO Vehicle Technology Group GmbH.
E&P Hydraulics UK Limited is a 100% subsidiary of AL-KO Kober Limited.
*A liquidator was appointed to the subsidiary undertaking of the company on 21 June 2021.
**A liquidator was appointed to the subsidiary undertaking of the company on 27 September 2022.

Page 20 -

 

AL-KO KOBER HOLDINGS LIMITED

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

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
19,695,751
19,511,453

Corporation tax
55,334
55,333

19,751,085
19,566,786


Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,300,000 (2023 - 2,300,000) Ordinary shares of £1.00 each
2,300,000
2,300,000

The company has one class of ordinary shares which carry no right to fixed income.



10.


Reserves

Share premium account

Share premium reserves contains the premium arising on the issue of equity shares, net of issue expenses.

Profit and loss account

The profit and loss reserve represents cumulative profits or losses, net of dividends paid and other adjustments.


11.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are wholly owned part of the group.

Page 21 -

 

AL-KO KOBER HOLDINGS LIMITED

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

12.


Controlling party

In the opinion of the directors, the company’s ultimate parent company and controlling party at the time of approving the financial statements is DexKo Global Holdings Inc., a company incorporated in Delaware of the United States of America.
The parent undertaking of the largest and smallest group, which includes the company and for which group accounts are prepared is DexKo Global Holdings Inc., a company incorporated in the United States of America whose registered address is 39555 Orchard Hill PI #525 Novi, Ml 48375, USA. Copies of the group financial statements of DexKo Global Holdings Inc. are available from their registered office.
The company's immediate parent is Alois Kober GmbH, a company incorporated in Germany.

 
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