IRIS Accounts Productionv25.1.0.73409969988Board of Directors1.4.2431.3.2531.3.25Medium entitiesThe principal activity of the company is that of a non-trading holding company.00truetruefalsetruetruefalsefalsetruetruetruefalseThese accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime.00Ordinary shares1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh099699882024-03-31099699882025-03-31099699882024-04-012025-03-31099699882023-03-31099699882023-04-012024-03-31099699882024-03-3109969988ns15:EnglandWales2024-04-012025-03-3109969988ns14:PoundSterling2024-04-012025-03-3109969988ns10:Director12024-04-012025-03-3109969988ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3109969988ns10:MediumEntities2024-04-012025-03-3109969988ns10:Audited2024-04-012025-03-3109969988ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-012025-03-3109969988ns10:Medium-sizedCompaniesRegimeForAccounts2024-04-012025-03-3109969988ns10:FullAccounts2024-04-012025-03-3109969988ns10:OrdinaryShareClass12024-04-012025-03-3109969988ns10:Director22024-04-012025-03-3109969988ns10:Director32024-04-012025-03-3109969988ns10:RegisteredOffice2024-04-012025-03-3109969988ns5:CurrentFinancialInstruments2025-03-3109969988ns5:CurrentFinancialInstruments2024-03-3109969988ns5:Non-currentFinancialInstruments2025-03-3109969988ns5:Non-currentFinancialInstruments2024-03-3109969988ns5:ShareCapital2025-03-3109969988ns5:ShareCapital2024-03-3109969988ns5:SharePremium2025-03-3109969988ns5:SharePremium2024-03-3109969988ns5:RetainedEarningsAccumulatedLosses2025-03-3109969988ns5:RetainedEarningsAccumulatedLosses2024-03-3109969988ns5:ShareCapital2023-03-3109969988ns5:RetainedEarningsAccumulatedLosses2023-03-3109969988ns5:SharePremium2023-03-3109969988ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3109969988ns5:RetainedEarningsAccumulatedLosses2024-04-012025-03-310996998812024-04-012025-03-3109969988ns5:Exceptional2024-04-012025-03-3109969988ns5:Exceptional2023-04-012024-03-310996998812024-04-012025-03-310996998812023-04-012024-03-3109969988ns5:CostValuation2024-03-3109969988ns5:Subsidiary12024-04-012025-03-31099699881ns5:Subsidiary12024-04-012025-03-3109969988ns5:Subsidiary22024-04-012025-03-3109969988ns5:Subsidiary232024-04-012025-03-3109969988ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3109969988ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3109969988ns5:Non-currentFinancialInstruments2024-04-012025-03-3109969988ns10:OrdinaryShareClass12025-03-31

REGISTERED NUMBER: 09969988 (England and Wales)
















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025


FOR



SUNDRAM INTERNATIONAL LIMITED


SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025











Page




Company Information  

1




Strategic Report  

2




Report of the Directors  

3




Report of the Independent Auditors  

5




Statement of Comprehensive Income

9




Balance Sheet  

10




Statement of Changes in Equity  

11




Notes to the Financial Statements

12





SUNDRAM INTERNATIONAL LIMITED



COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025









DIRECTORS:

D Bartle


R Dilipkumar


S J Rose







REGISTERED OFFICE:

Hygeia Building Rear Ground Floor


66-68 College Road


Harrow


Middlesex


HA1 1BE







REGISTERED NUMBER:

09969988 (England and Wales)







AUDITORS:

KNAV Limited


Ground Floor


Hygeia Building


66-68 College Road


Harrow


Middlesex


HA1 1BE


SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



STRATEGIC REPORT

FOR THE YEAR ENDED 31 MARCH 2025



The directors present their strategic report for the year ended 31 March 2025.


FAIR REVIEW OF THE BUSINESS

The Company is an investment holding company, with two subsidiaries, Cramlington Precision Forge Limited (CPFL), a company incorporated in England, and Sundram Fasteners (Zhejiang) Limited (SFZL), a company incorporated in China. The Company does not have any other operations. Therefore, the valuation of Sundram International Limited would comprise the valuation of its investments in CPFL and SFZL and asset value of any other assets in its balance sheet as on the valuation date. As at the year end, valuation of SFZL had increased resulting in reversal of impairment amounting to £2m. The Company witnessed profit for the year (KPI) of £2m as compared to £7.6m in the previous year and net assets of £32.5m as compared to £30.5m in the previous year mainly due to reversal of impairment of investment.


PRINCIPAL RISKS AND UNCERTAINTIES

The principal risk of the company is the decline in value of its investments in subsidiaries. Other risks have been disclosed in the Directors' Report.


ON BEHALF OF THE BOARD:






D Bartle - Director



20 August 2025


SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2025



The directors present their report with the financial statements of the company for the year ended 31 March 2025.


DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.


DIRECTORS

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


D Bartle

R Dilipkumar

S J Rose


OBJECTIVES AND POLICIES

Sundram International Limited was incorporated as part of the global restructuring process undertaken by the Parent entity Sundram Fasteners Limited (SFL). As part of the process, the investments in the overseas operating subsidiaries were transferred to Sundram International Limited with an aim to provide opportunity for arranging financing facilities at competitive interest rates.


Management and Board of Directors of the companies included in Sundram International Limited, Cramlington Precision Forge Limited and Sundram Fasteners (Zhejiang) Limited (the Group) are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.


The respective Board of Directors of the companies included in the Group is responsible for overseeing the financial reporting process of each company.


PRICE RISK, CREDIT RISK, LIQUIDITY RISK AND CASH FLOW RISK

Risks:

The Company's board of directors has overall responsibility for the establishment and oversight of the Company's risk Management framework. The board of directors along with the top management are responsible for developing and monitoring the Company's risk management policies. The senior management of the respective companies in the group advises on financial risks and the appropriate financial risk governance framework for the Company and the group as a whole.


Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's debt obligations with floating interest rates and is very minimal.


Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at reasonable price. Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of credit facilities to meet obligations when due. The respective companies' senior management is responsible for liquidity, funding as well as settlement management. Management monitors the Company's liquidity position through rolling forecasts on the basis of expected cash flows.


GOING CONCERN

The company has net current assets of £1m (2024: £957k) and net assets of £32.5m (2024: £30.5m) at the balance sheet date. The Company is funded by group dividends and as such, the Directors consider the Company will be able to continue in business for the foreseeable future, therefore the Directors have continued to adopt the going concern basis of accounting in preparing these financial statements.



SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31 MARCH 2025


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.


DISCLOSURE OF INFORMATION TO THE AUDITORS

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

AUDITORS

The auditors KNAV Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.


ON BEHALF OF THE BOARD:






D Bartle - Director



20 August 2025


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SUNDRAM INTERNATIONAL LIMITED



Opinion

We have audited the financial statements of Sundram International Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 March 2025 and of its 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 company 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 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 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.


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 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 Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SUNDRAM INTERNATIONAL LIMITED



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 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, 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 Statement of Directors' Responsibilities set out on page four, 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 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.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SUNDRAM INTERNATIONAL 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.


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


We design our procedures so as to obtain sufficient appropriate audit evidence that the financial statements are not materially misstated due to non-compliance with laws and regulations or due to fraud or error.


We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations - this responsibility lies with management with the oversight of the Directors.


Based on our understanding of the Company and industry, discussions with management, we identified Companies Act 2006, Financial Reporting Standard 102, and UK taxation legislation as having a direct effect on the amounts and disclosures in the financial statements.


As part of the engagement team discussion about how and where the Company's financial statements may be materially misstated due to fraud, we did not identify any areas with an increased risk of fraud.


Our audit procedures included:

- enquiry of management about the Company's policies, procedures and related controls regarding compliance with laws and regulations and if there are any known instances of non-compliance;

- examining supporting documents for all material balances, transactions and disclosures;

- evaluation of the selection and application of accounting policies related to subjective measurements and complex transactions;

- review of the Board of Directors minutes;

- analytical procedures to identify any unusual or unexpected relationships;

- testing the appropriateness of journal entries recorded in the general ledger and other adjustments made in the preparation of the financial statements; and

- review of accounting estimates for biases.


Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).


The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.


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.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

SUNDRAM INTERNATIONAL LIMITED



Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the 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.





Amanjit Singh FCA (Senior Statutory Auditor)

for and on behalf of KNAV Limited

Ground Floor

Hygeia Building

66-68 College Road

Harrow

Middlesex

HA1 1BE


28 August 2025

UAC: 2025-77-UK


SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



STATEMENT OF COMPREHENSIVE

INCOME

FOR THE YEAR ENDED 31 MARCH 2025



31.3.25

31.3.24



Notes

£   

£   

£   

£   



TURNOVER

-


-




Administrative expenses

13,579


12,717



OPERATING LOSS

(13,579

)

(12,717

)



Income from shares in group undertakings

95,286


246,552



Interest receivable and similar income

5

21,733


21,793



117,019

268,345

103,440


255,628



Amounts written off investments

6

(1,961,799

)

(7,395,460

)


2,065,239


7,651,088




Interest payable and similar expenses

7

22,473


22,534



PROFIT BEFORE TAXATION

2,042,766


7,628,554




Tax on profit

9

9,529


12,612



PROFIT FOR THE FINANCIAL YEAR

2,033,237


7,615,942




OTHER COMPREHENSIVE INCOME

-


-



TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

2,033,237


7,615,942




SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



BALANCE SHEET

31 MARCH 2025



31.3.25

31.3.24



Notes

£   

£   

£   

£   


FIXED ASSETS

Investments

10

32,278,376


30,316,577




CURRENT ASSETS

Debtors

11

1,155,549


1,048,816



Cash at bank

11,388


24,210



1,166,937


1,073,026



CREDITORS

Amounts falling due within one year

12

138,260


115,787



NET CURRENT ASSETS

1,028,677


957,239



TOTAL ASSETS LESS CURRENT

LIABILITIES

33,307,053


31,273,816




CREDITORS

Amounts falling due after more than one year

13

775,000


775,000



NET ASSETS

32,532,053


30,498,816




CAPITAL AND RESERVES

Called up share capital

14

3,500


3,500



Share premium

26,188,078


26,188,078



Retained earnings

6,340,475


4,307,238



SHAREHOLDERS' FUNDS

32,532,053


30,498,816




The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:






D Bartle - Director



SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025



Called up



share


Retained


Share


Total


capital


earnings


premium


equity

£   

£   

£   

£   


Balance at 1 April 2023

3,500


(3,308,704

)

26,188,078


22,882,874




Changes in equity

Total comprehensive income

-


7,615,942


-


7,615,942



Balance at 31 March 2024

3,500


4,307,238


26,188,078


30,498,816




Changes in equity

Total comprehensive income

-


2,033,237


-


2,033,237



Balance at 31 March 2025

3,500


6,340,475


26,188,078


32,532,053




SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025



1.

GENERAL INFORMATION



The company is a private company limited by share capital, incorporated in England and Wales.


The address of its registered office is:



Hygeia Building


Rear Ground Floor


66-68 College Road


Harrow


Middlesex


HA1 1BE


United Kingdom


2.

ACCOUNTING POLICIES



Statement of compliance


These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.



Basis of preparing the financial statements


These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.


The financial statements are prepared in British Pound Sterling (£), which is the functional currency of the company.



Monetary amounts in these financial statements are rounded to the nearest £.



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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":




the requirements of Section 7 Statement of Cash Flows;



the requirement of paragraph 3.17(d);



the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);



the requirement of paragraph 33.7.



Preparation of consolidated financial statements

The financial statements contain information about Sundram International 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 requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Sundram Fasteners Limited, whose registered office address is 98A, VII Floor, Dr Radhakrishnan Salai, Mylapore, Chennai, 600 004, India.


Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025



2.

ACCOUNTING POLICIES - continued



Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

On considering the potential impairment of the company's investment in its subsidiaries, the company has considered cash flow forecast for subsequent periods. Management judgment was applied in deciding the key inputs into the model.


Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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

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

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.


SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



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 Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025



2.

ACCOUNTING POLICIES - continued



Trade debtors


Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.



Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.



Trade creditors


Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.



Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.



Borrowings


Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.



Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.



Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.



Share capital


Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.


3.

EMPLOYEES AND DIRECTORS



There were no staff costs for the year ended 31 March 2025 nor for the year ended 31 March 2024.



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



31.3.25


31.3.24

£   

£   



Directors' remuneration

-


-




SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025



3.

EMPLOYEES AND DIRECTORS - continued



One of the directors of the Company receives remuneration from Cramlington Precision Forge Limited. The other directors hold roles in the wider Sundram Fastners group outside of the UK and these directors are remunerated by Sundram Fastners Limited. The directors believe that remuneration applicable towards the efforts for this company is negligible.


4.

EXCEPTIONAL ITEMS


31.3.25


31.3.24

£   

£   



Witholding tax

(9,529

)

(12,612

)



5.

INTEREST RECEIVABLE AND SIMILAR INCOME



31.3.25


31.3.24

£   

£   



Interest receivable from group companies

21,733


21,793




6.

AMOUNTS WRITTEN OFF INVESTMENTS



31.3.25


31.3.24

£   

£   



(Gain)/loss on revaluation of


investments

(1,961,799

)

(7,395,460

)



7.

INTEREST PAYABLE AND SIMILAR EXPENSES



31.3.25


31.3.24

£   

£   



Interest payable to group undertakings

22,473


22,534




8.

AUDITORS' REMUNERATION


31.3.25


31.3.24

£   

£   



Fees payable to the company's auditors for the audit of the company's

financial statements

8,850


9,050




Other non- audit services

3,700


3,500




9.

TAXATION



Analysis of the tax charge


The tax charge on the profit for the year was as follows:


31.3.25


31.3.24

£   

£   



Exceptional tax:


Witholding tax

9,529


12,612




Tax on profit

9,529


12,612




SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025



9.

TAXATION - continued



Reconciliation of total tax charge included in profit and loss


The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:



31.3.25


31.3.24

£   

£   



Profit before tax

2,042,766


7,628,554




Profit multiplied by the standard rate of corporation tax in the UK of 25%

(2024 - 25%)  

510,692


1,907,139





Effects of:


Expenses not deductible for tax purposes

-


211




Income not taxable for tax purposes

(514,271

)

(1,907,350

)



Witholding tax paid on dividends  

9,529


12,612




Tax losses adjustment  

3,579


-




Total tax charge

9,529


12,612




10.

FIXED ASSET INVESTMENTS


Shares in


group


undertakings

£   



COST


At 1 April 2024


and 31 March 2025

32,278,376




PROVISIONS


At 1 April 2024

1,961,799





Reversal of impairments

(1,961,799

)



At 31 March 2025

-




NET BOOK VALUE


At 31 March 2025

32,278,376




At 31 March 2024

30,316,577





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



Cramlington Precision Forge Limited


Registered office: United Kingdom


Nature of business: Manufacturing of precision forgings


%


Class of shares:

holding



Ordinary Shares

100.00



SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025



10.

FIXED ASSET INVESTMENTS - continued



Sundram Fasteners (Zhejiang) Limited


Registered office: China


Nature of business: Manufacturing of high tensile fasteners


%


Class of shares:

holding



Ordinary Shares

100.00




During the year, the Company has reversed the impairment of £1,961,799 for the investment in  Sundram Fasteners (Zhejiang) Limited.


11.

DEBTORS


31.3.25


31.3.24

£   

£   



Amounts falling due within one year:


Amounts owed by group undertakings

285,000


200,000




Other debtors

120,549


98,816



405,549


298,816





Amounts falling due after more than one year:


Amounts owed by group undertakings

750,000


750,000





Aggregate amounts

1,155,549


1,048,816




£750,000 (2024:£750,000) of the amounts owed by group undertakings is classified as non current. The balance due from group undertakings represents an unsecured loan extended to the company's subsidiary undertaking. Out of the total amount due of £1,035,000, £600,000 is repayable in full by 15 December 2026 on which interest is charged at 2.92% per annum and balance of £150,000 is repayable in full by 7 September 2026 with an interest rate of 2.61% per annum. The remaining balance of £285,000 (2024: £200,000) is unsecured and repayable on demand.

Other debtors of £120,549 (2024: £98,816) represent interest receivable on loans extended to the wholly owned subsidiary undertaking.

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.3.25


31.3.24

£   

£   



Accrued expenses

138,260


115,787




13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.3.25


31.3.24

£   

£   



Amounts owed to group undertakings

775,000


775,000




SUNDRAM INTERNATIONAL LIMITED (REGISTERED NUMBER: 09969988)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025



13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued


The balance due to group undertakings of £775,000 (2024: £775,000) represents an unsecured debenture issued to the company's parent undertaking. Out of the total amount payable of £775,000, £625,000 is repayable in full by 18 December 2026 on which interest is charged at 2.92% per annum and balance of £150,000 is repayable in full by 11 September 2026 on which interest is charged at 2.61% per annum.

14.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.3.25


31.3.24


value:

£   

£   



3,500

Ordinary shares

1

3,500


3,500




15.

RELATED PARTY DISCLOSURES



The company has taken advantage of the exemption available in accordance with FRS 102 not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.


16.

ULTIMATE CONTROLLING UNDERTAKING



Sundram Fasteners Limited, a company incorporated in India, is the immediate and ultimate parent undertaking, and is the smallest and largest group for which consolidated accounts including Sundram International Limited are prepared. The consolidated accounts are available from its registered office, 98A, VII Floor, Dr Radhakrishnan Salai, Mylapore, Chennai, 600 004, India.