Re-Tek (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03209888 (England and Wales)

Financial Statements For The Period 1 July 2023 to 31 December 2024

for

Re-Tek (UK) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

G D Lowrie

M C De Roos

REGISTERED OFFICE:

1st Floor Templeback

10 Temple Back

Bristol

BS1 6FL

REGISTERED NUMBER:

03209888 (England and Wales)

INDEPENDENT AUDITORS:

Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

84,840

139,118

Investments

5

-

16,000

84,840

155,118

CURRENT ASSETS

Stocks

6

16,877

Debtors

7

2,519,628

635,690

Cash at bank and in hand

321,008

5,109,460

2,857,513

5,762,027

CREDITORS

Amounts falling due within one year

8

1,872,631

1,633,380

NET CURRENT ASSETS

984,882

4,128,647

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,069,722

4,283,765

PROVISIONS FOR LIABILITIES

21,210

27,854

NET ASSETS

1,048,512

4,255,911

CAPITAL AND RESERVES

Called up share capital

76

Share premium

1,499

Capital redemption reserve

25

Retained earnings

1,046,912

4,254,311

SHAREHOLDERS' FUNDS

1,048,512

4,255,911

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

G D Lowrie - Director

M C De Roos - Director

1.	STATUTORY INFORMATION

Re-Tek (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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of turnover can be measured reliably; it is probable that the company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.

Taxation

Taxation for the year comprises current and deferred tax. Tax 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 statement of financial position date.

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 period 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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Investments are recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 45 (2023 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant &

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 July 2023

254,062

82,700

95,495

26,953

459,210

Additions

-

4,800

At 31 December 2024

254,062

82,700

95,495

31,753

464,010

DEPRECIATION

At 1 July 2023

252,025

41,114

-

26,953

320,092

Charge for period

2,037

19,430

35,811

1,800

59,078

At 31 December 2024

254,062

60,544

35,811

28,753

379,170

NET BOOK VALUE

At 31 December 2024

-

22,156

59,684

3,000

84,840

At 30 June 2023

2,037

41,586

95,495

-

139,118

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

Whisky cask

-

16,000

6.

STOCKS

2024

2023

£

Stocks

16,877

7.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

830,736

537,880

Other debtors

842

699

Amounts owed by group

undertakings

1,453,238

52,700

Directors' current accounts

-

18,400

Tax

152,656

-

Prepayments

60,656

26,011

2,498,128

635,690

Amounts falling due after more than one year:

Other debtors

21,500

-

Aggregate amounts

2,519,628

635,690

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

268,668

305,576

Tax

-

437,583

Social security and other taxes

52,265

33,614

VAT

80,021

11,274

Other creditors

646

14,124

Directors' current accounts

35

Accrued expenses

1,470,996

831,174

1,872,631

1,633,380

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

129,996

119,400

Between one and five years

232,910

393,025

362,906

512,425

10.	SECURED DEBTS

ING Bank N.V holds a fixed and floating charge over the assets of the company.

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

The Report of the Auditors was qualified on the following basis:

Basis for Qualified Opinion

We have not been able to obtain sufficient appropriate audit evidence in respect of the completeness of the opening balances, which were not previously audited. Consequently, we are unable to determine the accuracy of the opening balances and if this has a material or pervasive effect on the current year financial statements.

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 qualified opinion.

Matters required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, 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.

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Graham Cantlay (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Circular IT Holding B.V. a company registered in the Netherlands with its registered office at Radonstraat 300, Zoetetmeer, Netherlands.

The ultimate controlling party is Waterland Private Equity Investments B.V. a company registered in the Netherlands with its registered office at Brediusweg 16, 1401AG, Bussum, Netherlands.