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REGISTERED NUMBER: 04554480 (England and Wales)











EURO DRIVESHAFTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025






EURO DRIVESHAFTS LIMITED (REGISTERED NUMBER: 04554480)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2025




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


EURO DRIVESHAFTS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2025







DIRECTORS: C Barnard
J W Black
L de Bruin





REGISTERED OFFICE: Lygon House
50 London Road
Bromley
Kent
BR1 3RA





REGISTERED NUMBER: 04554480 (England and Wales)





AUDITORS: Berringers LLP
Chartered Accountants
and Statutory Auditors
Lygon House
50 London Road
Bromley
Kent
BR1 3RA

EURO DRIVESHAFTS LIMITED (REGISTERED NUMBER: 04554480)

BALANCE SHEET
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Investments 4 4,730,138 4,730,138

CURRENT ASSETS
Debtors 5 2,565 -
Cash at bank and in hand 2,741 11,567
5,306 11,567
CREDITORS
Amounts falling due within one year 6 3,487,614 3,239,076
NET CURRENT LIABILITIES (3,482,308 ) (3,227,509 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,247,830

1,502,629

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 1,247,820 1,502,619
1,247,830 1,502,629

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 13 August 2025 and were signed on its behalf by:





J W Black - Director


EURO DRIVESHAFTS LIMITED (REGISTERED NUMBER: 04554480)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025

1. STATUTORY INFORMATION

Euro Driveshafts 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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have the continuing long-term financial support provided by the wider Group. The directors have also reviewed the post year-end financial information available at the time of approving these financial statements, giving consideration to the ongoing war in Ukraine and other global economic factors, and have concluded that it is appropriate for the financial statements to be prepared on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Euro Driveshafts Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Invicta Holdings Limited, 3 Droste Crescent, Droste Park, Johannesburg, South Africa.

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

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 has been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided on a straight line basis over the useful lives based on management's estimation. The estimated useful lives are assessed on an annual basis for each category of assets. The estimated useful lives for the current period are as follows:

Short leasehold- over period of lease
Plant and machinery- 1 to 6 years
Fixtures and fittings- 5 to 10 years
Computer equipment- 3 to 5 years
Motor vehicles- 4 to 5 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any impairment losses.

EURO DRIVESHAFTS LIMITED (REGISTERED NUMBER: 04554480)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025

2. ACCOUNTING POLICIES - continued

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.

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

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.

True and fair override
These financial statements have departed from the requirements of FRS 102 Section 20 with regards to the treatment of an operating lease entered into by the company during the period. This departure was necessary, in the the opinion of the directors, to show a true and fair view of the company's financial position with reference to other group undertakings within the group, ensuring all group accounting policies are consistent. The impact of this treatment is immaterial to the overall net assets and to the reported loss for the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 27 ).

EURO DRIVESHAFTS LIMITED (REGISTERED NUMBER: 04554480)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2024
and 31 March 2025 4,730,138
NET BOOK VALUE
At 31 March 2025 4,730,138
At 31 March 2024 4,730,138

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 2,565 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Amounts owed to group undertakings 3,475,373 3,235,913
Other creditors 12,241 3,163
3,487,614 3,239,076

Although the amount owed to group undertakings is repayable on demand, it is not expected to be repaid within 12 months of the balance sheet date.

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

The Report of the auditors was unqualified.

Ricky Hutson BSc ACA FCCA (Senior Statutory Auditor)
for and on behalf of Berringers LLP

8. CONTROLLING PARTY

Invicta Holdings Limited is the parent company of the smallest group for which consolidated accounts are prepared. Invicta Holdings Limited is incorporated in South Africa. The registered office of Invicta Holdings Limited is 3 Droste Crescent, Droste Park, Johannesburg, South Africa.

9. HIVE-DOWN

The company's policy is to include the financial results of its Polish branch within the financial statements. On 30 November 2023, the Polish branch transferred all operations to a newly formed company, UPG Poland. As a result, all net assets of the Polish branch were transferred to UPG Poland as at 30 November 2023. 100% of the share capital of UPG Poland is owned by Euro Driveshafts Limited and is now treated as an investment in group undertakings.