| Kuhmichel Abrasiv Limited |
| Strategic Report |
|
| The directors present their strategic report together with the audited financial statements for the year ended 31 December 2024. |
|
| Principal activities |
| The company's income is derived from the wholesale of refractory material, abrasives and other industrial products in both the UK and worldwide markets. |
|
| Business review |
| The directors are satisfied with the performance of the company and its financial position at the end of the year. Turnover for the year of £14,520,408 represents an increase of £687,849 over the prior year. The operating profit for the year of £1,359,515, is higher than the prior year figure of £1,054,440; given the challenging global inflationary pressures the directors are satisfied with the company's performance during the year. |
| The company maintained a healthy balance sheet increasing net asset value from £3,894,666 at the end of 2023 to £4,066,278 on 31 December 2024. |
| Dividends of £700,000 were paid in the year (2023 £500,000). It is expected that all future surplus cash will be invested in enhancing and growing the company. |
|
| Principal risks and uncertainties |
| The company's strategy is subject to a number of risks and uncertainties. |
| The company operates in competitive markets and mitigates the risk of weakening its competitive position by continually improving the customer experience and regularly investing in its infrastructure and expansion into new territories. |
|
| The company operates from the UK but has customers and suppliers in other jurisdictions as well such as Europe, Asia and Australasia and continues to encounter uncertainties and difficulties with imports and exports. The directors consider and carefully manage these on a regular basis and seek professional advice where necessary. |
|
| The company is exposed to customer credit risk, in full. There is no significant concentration of risk, because exposure is spread over a broad customer base. The directors review outstanding debts regularly, with prompt action taken where individual debts are of concern. |
|
| The company is exposed to liquidity risk if cash is not available to meet its obligations when they fall due. The directors monitor and forecast profits and cash flow to meet the financial covenants of its term loans and ensure sufficient funds are available for its day to day operations and future investment plans. |
| The company is also exposed to currency risk. Where considered appropriate the company uses forward cover or similar instruments to cover anticipated currency fluctuations. However, the company is still exposed to movements in exchange rates. |
|
| Kuhmichel Abrasiv Limited |
| Strategic Report (continued) |
|
|
| Going concern |
| Despite the risks the global economic climate presents, the directors expect the company to continue trading successfully for the foreseeable future on the basis of the company's own cash flows and financing arrangements with it's bankers and parent company. For this reason, they continue to adopt the going concern basis in preparing the financial statements. |
|
| Key performance indicators |
| The key performance indicators are set out below and are used to monitor the performance of the company: |
|
| Year ended 31 |
Year ended 31 |
| December 2024 |
December 2023 |
|
| Turnover |
£14,520,408 |
£13,832,559 |
| Gross margin |
£4,705,352 |
£3,919,702 |
| Operating profit |
£1,359,515 |
£1,054,440 |
| Net current assets |
£2,488,991 |
£2,343,698 |
| Shareholder funds |
£4,066,278 |
£3,894,666 |
|
| Key performance indicators are measured against prior year, budget and forecasts. The company's performance in the year was in line with expectations. |
|
|
| This report was approved by the board on 23 September 2025 and signed on its behalf. |
|
|
|
| Mrs M Drywa |
| Director |
|
|
Freehold land |
Not depreciated |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes the purchase price of goods and additional costs which are directly attributable to bringing the goods to their location and condition such as shipping and freight costs and import duties. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the income statement. |
|
|
Cash and cash equivalents |
|
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
|
|
Financial instruments |
|
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
|
Basic financial assets |
|
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. |
|
Other financial assets |
|
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. |
|
Impairment of financial assets |
|
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 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. |
|
Derecognition of financial assets |
|
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
|
Classification of financial liabilities |
|
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. |
|
Basic financial liabilities |
|
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
|
Other financial liabilities |
|
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. |
|
Derecognition of financial liabilities |
|
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
|
|
Equity instruments |
|
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
Judgement 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. |
|
Key sources of estimation uncertainty which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: |
|
|
Impairment of stock: |
|
The directors include impairment provisions based on the age and sales history of individual lines of stock. Where the directors consider there will be no future sales the individual stock line is written down to its assessed net realisable value. |
|
|
Fixed asset useful economic lives and depreciation: |
|
The directors have made key judgements regarding the remaining useful economic life of the company's significant assets in applying depreciation rates, the most significant areas being land and buildings. The significant assets included in these categories are depreciated as set out in the accounting policies above, and are considered to be the directors best estimate of the useful economic life based on the directors' knowledge of the business. |
|
|
| 2 |
Analysis of turnover |
2024 |
|
2023 |
| £ |
£ |
|
|
Sale of goods |
14,520,408 |
|
13,832,559 |
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
UK |
8,351,898 |
|
8,422,700 |
|
Europe |
1,802,462 |
|
1,429,690 |
|
Australia |
2,620,330 |
|
2,301,364 |
|
Rest of the world |
1,745,718 |
|
1,678,805 |
|
|
|
|
|
|
14,520,408 |
|
13,832,559 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Operating profit |
2024 |
|
2023 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
106,837 |
|
94,956 |
|
Depreciation of assets held under finance leases and hire purchase contracts |
|
6,603 |
|
7,768 |
|
Amortisation of goodwill |
- |
|
31,758 |
|
Exchange losses |
82,498 |
|
66,164 |
|
Auditors' remuneration for audit services |
10,000 |
|
9,625 |
|
Carrying amount of stock sold |
9,799,909 |
|
9,889,707 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Directors' emoluments |
2024 |
|
2023 |
| £ |
£ |
|
|
Emoluments |
206,730 |
|
201,155 |
|
Company contributions to defined contribution pension plans |
16,761 |
|
14,866 |
|
|
|
|
|
|
223,491 |
|
216,021 |
|
|
|
|
|
|
|
|
|
|
|
Highest paid director: |
|
Emoluments |
115,250 |
|
105,000 |
|
Company contributions to defined contribution pension plans |
16,761 |
|
5,250 |
|
|
|
|
|
|
132,011 |
|
110,250 |
|
|
|
|
|
|
|
|
|
|
|
Number of directors to whom retirement benefits accrued: |
2024 |
|
2023 |
| Number |
Number |
|
|
Defined contribution plans |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Staff costs |
2024 |
|
2023 |
| £ |
£ |
|
|
Wages and salaries |
1,141,336 |
|
1,234,233 |
|
Social security costs |
94,324 |
|
101,409 |
|
Other pension costs |
53,215 |
|
50,977 |
|
|
|
|
|
|
1,288,875 |
|
1,386,619 |
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
Number |
Number |
|
|
Administration |
11 |
|
10 |
|
Manufacturing |
4 |
|
4 |
|
Sales |
5 |
|
6 |
|
|
|
|
|
|
20 |
|
20 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Interest payable |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans and overdrafts |
188,715 |
|
221,293 |
|
Other loans |
- |
|
4,528 |
|
|
|
|
|
|
188,715 |
|
225,821 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Taxation |
2024 |
|
2023 |
| £ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK corporation tax on profits of the period |
312,519 |
|
200,828 |
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
(13,331) |
|
7,735 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit on ordinary activities |
299,188 |
|
208,563 |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
|
|
|
|
|
|
|
2024 |
|
2023 |
| £ |
£ |
|
Profit on ordinary activities before tax |
1,170,800 |
|
828,619 |
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
25% |
|
25% |
|
|
|
|
|
|
|
|
2024 |
|
2023 |
| £ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
292,700 |
|
207,155 |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
1,646 |
|
2,715 |
|
Capital allowances for period in excess of depreciation |
18,173 |
|
(9,042) |
|
|
Current tax charge for period |
312,519 |
|
200,828 |
|
|
|
|
|
|
|
|
|
| 8 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 January 2024 |
309,585 |
|
At 31 December 2024 |
309,585 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 January 2024 |
309,585 |
|
At 31 December 2024 |
309,585 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 December 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years. |
|
| 9 |
Tangible fixed assets |
|
|
Land and buildings |
|
Motor vehicles |
|
Fixtures, fittings, tools and equipment |
|
Total |
|
|
At cost |
|
At cost |
|
At cost |
| £ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 January 2024 |
1,493,251 |
|
205,330 |
|
370,109 |
|
2,068,690 |
|
Additions |
- |
|
134,028 |
|
7,376 |
|
141,404 |
|
Disposals |
- |
|
(44,217) |
|
- |
|
(44,217) |
|
At 31 December 2024 |
1,493,251 |
|
295,141 |
|
377,485 |
|
2,165,877 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
180,335 |
|
51,332 |
|
235,710 |
|
467,377 |
|
Charge for the year |
25,600 |
|
63,716 |
|
24,124 |
|
113,440 |
|
On disposals |
- |
|
(11,054) |
|
- |
|
(11,054) |
|
At 31 December 2024 |
205,935 |
|
103,994 |
|
259,834 |
|
569,763 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 December 2024 |
1,287,316 |
|
191,147 |
|
117,651 |
|
1,596,114 |
|
At 31 December 2023 |
1,312,916 |
|
153,998 |
|
134,399 |
|
1,601,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2023 |
| £ |
£ |
|
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts |
|
37,415 |
|
44,018 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Stocks |
2024 |
|
2023 |
| £ |
£ |
|
|
Raw materials and consumables |
4,468,378 |
|
4,277,671 |
|
|
|
|
|
|
|
|
|
|
The carrying value of stocks are stated net of stock provisions totalling £22,500 (2023 £Nil). |
|
|
| 11 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
1,675,435 |
|
1,697,299 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
16,116 |
|
16,187 |
|
Other debtors |
- |
|
350 |
|
Prepayments and accrued income |
107,292 |
|
18,247 |
|
|
|
|
|
|
1,798,843 |
|
1,732,083 |
|
|
|
|
|
|
|
|
|
|
| 12 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
2,800,000 |
|
2,519,000 |
|
Obligations under finance lease and hire purchase contracts |
17,247 |
|
14,921 |
|
Trade creditors |
638,247 |
|
1,039,561 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
- |
|
3,154 |
|
Corporation tax |
210,519 |
|
90,828 |
|
Other taxes and social security costs |
327,934 |
|
203,794 |
|
Other creditors |
48,794 |
|
3,114 |
|
Accruals and deferred income |
465,015 |
|
418,928 |
|
|
|
|
|
|
4,507,756 |
|
4,293,300 |
|
|
|
|
|
|
|
|
|
|
| 13 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
16,474 |
|
34,661 |
|
|
|
|
|
|
|
|
|
|
| 14 |
Loans |
2024 |
|
2023 |
| £ |
£ |
|
Analysis of maturity of debt: |
|
Within one year or on demand |
2,800,000 |
|
2,519,000 |
|
|
|
|
|
|
|
|
|
|
| 15 |
Obligations under finance leases and hire purchase |
2024 |
|
2023 |
|
contracts |
£ |
£ |
|
|
Amounts payable: |
|
Within one year |
17,247 |
|
14,921 |
|
Within two to five years |
16,474 |
|
34,661 |
|
|
|
|
|
|
33,721 |
|
49,582 |
|
|
|
|
|
|
|
|
|
|
| 16 |
Deferred taxation |
2024 |
|
2023 |
| £ |
£ |
|
|
Accelerated capital allowances |
2,353 |
|
15,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 January |
15,684 |
|
7,949 |
|
(Credited)/charged to the profit and loss account |
(13,331) |
|
7,735 |
|
|
At 31 December |
2,353 |
|
15,684 |
|
|
|
|
|
|
|
|
|
|
|
| 17 |
Share capital |
Nominal |
|
2024 |
|
2024 |
|
2023 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100,000 |
|
100,000 |
|
100,000 |
|
|
|
|
|
|
|
|
|
|
| 18 |
Profit and loss account |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 January |
3,794,666 |
|
3,674,610 |
|
Profit for the financial year |
871,612 |
|
620,056 |
|
Dividends |
(700,000) |
|
(500,000) |
|
|
At 31 December |
3,966,278 |
|
3,794,666 |
|
|
|
|
|
|
|
|
|
|
| 19 |
Dividends |
2024 |
|
2023 |
| £ |
£ |
|
|
Dividends on ordinary shares (note 18) |
700,000 |
|
500,000 |
|
|
|
|
|
|
|
|
|
|
| 20 |
Other financial commitments |
|
|
Total future minimum lease payments under non-cancellable operating leases: |
|
|
|
Land and buildings |
|
Land and buildings |
Other |
Other |
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
| £ |
£ |
£ |
£ |
|
Falling due: |
|
within one year |
- |
|
- |
|
23,003 |
|
24,849 |
|
within two to five years |
- |
|
- |
|
30,853 |
|
6,036 |
|
|
- |
|
- |
|
53,856 |
|
30,885 |
|
|
|
|
|
|
|
|
|
|
| 21 |
Related party transactions |
|
|
|
|
|
|
2024 |
|
2023 |
|
Kuhmichel Abrasiv GmbH |
£ |
£ |
|
Parent company, owns 60% of the issued share capital of the company. |
|
Kuhmichel Abrasiv Limited made sales of £50,063, made purchases of £101,785, paid dividends of £420,000 and purchased management services of £43,135 from Kuhmichel Abrasiv GmbH during the year. |
|
Amount due from/(to) Kuhmichel Abrasiv GmbH |
6,518 |
|
12,763 |
|
|
|
|
|
|
|
|
|
|
Henkson Limited |
|
Mr R Scholtens, a director of the company, owns 100% of the issued share capital of Henkson Limited. Henkson Limited owns 40% of the company. |
|
Kuhmichel Abrasiv Limited paid dividends of £280,000 and purchased management services in the sum of £166,204 from Henkson Limited during the year. |
|
Amount due from/(to) Henkson Limited |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
Kuhmichel Recycling GmbH |
|
A group company incorporated in Germany. |
|
During the year Kuhmichel Abrasiv Limited made sales of £43,199 and purchased materials in the sum of £29,661 from the related party. |
|
Amount due from/(to) Kuhmichel Recycling GmbH |
4,755 |
|
(3,154) |
|
|
|
|
|
|
|
|
|
|
Kuhmichel Abrasiv B.V. |
2024 |
|
2023 |
|
A group company incorporated in Holland. |
£ |
£ |
|
During the year Kuhmichel Abrasiv Limited made sales of £34,439 and purchased materials in the sum of £6,064 from the related party. |
|
Amount due from/(to) Kuhmichel Abrasiv B.V. |
2,180 |
|
2,885 |
|
|
|
|
|
|
|
|
|
|
|
Kuhmichel Abrasiv Austria GmbH |
|
A group company incorporated in Austria. |
|
Amount due from/(to) Kuhmichel Abrasiv Austria GmbH |
- |
|
337 |
|
|
|
|
|
|
|
|
|
|
Kuhmichel Abrasiv South Africa (Pty) Ltd. |
|
A group company incorporated in South Africa. |
|
During the year Kuhmichel Abrasiv Limited purchased materials in the sum of £162,340 from the related party. |
|
Amount due from/(to) Kuhmichel Abrasiv South Africa (Pty) Ltd. |
- |
|
23 |
|
|
|
|
|
|
|
|
|
|
Kuhmichel Yuzey Islem Teknolojisi Tic.Ltd. |
|
A group company incorporated in Turkey. |
|
During the year Kuhmichel Abrasiv Limited made sales of £9,955 to the related party. |
|
Amount due from/(to) Kuhmichel Yuzey Islem Teknolojisi Tic.Ltd. |
2,663 |
|
179 |
|
|
|
|
|
|
|
|
|
|
Transactions with the directors |
|
At 31 December 2024 the company owed Mr R Scoltens £48,794. This loan is interest free and repayable on demand. |
|
| 22 |
Controlling party |
|
|
The parent company is Kuhmichel Abrasiv Holding GmbH. The ultimate controlling party is DG Family Office GmbH, Am Rosenbaum 22, D-40882 Ratingen, Germany, a company wholly owned by Mr D Grundei. |
|
| 23 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
| 24 |
Legal form of entity and country of incorporation |
|
|
Kuhmichel Abrasiv Limited is a private company limited by shares and incorporated in England. |
|
| 25 |
Principal place of business |
|
|
The address of the company's principal place of business and registered office is: |
|
|
Astonfields Industrial Estate |
|
Drummond Road |
|
Stafford |
|
Staffs |
|
ST16 3EL |