Registration number: 03537549

Auger Torque Europe Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 7
Profit and Loss Account	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11 to 21

Auger Torque Europe Limited

Company Information

Directors

R Olbrich T Friedrich R Ginty

Company secretary

M Cartwright

Registered office

Shipton Downs Farm Hazleton Cheltenham GL54 4DX

Auditors

Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Auger Torque Europe Limited

Strategic Report for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

Principal activity

The principal activity of the company is the manufacture and distribution of hydraulic earthmoving attachments.

Fair review of the business

The directors are pleased with the results for the year and consider the financial position at the year end to be very satisfactory.

The results for the year, which are set out in the profit and loss account, show operating profit for the year of £825,074 (2023 - £1,619,748). Dividends of £2,500,000 were paid during the year (2023 - £4,000,000).

The Company has fixed assets valued in the financial statements at cost amounting to £1,825,985 (2023 - £1,798,502), Trade debtors of £459,030 (2023 - £662,790) and trade creditors of £238,628 (2023 - £360,153).

While the operations of the company continue to have been impacted by the worldwide pandemic, the management of the company have been able to maintain the companies activities, turnover and margins at levels that are consistent with previous years.

The company's key financial and other performance indicators during the year were as follows:

		2024		2023		%
		£'000		£'000		Change
Turnover		9,322		12,501		-25.4%
Operating profit		825		1,620		-49.1%

In addition to financial performance indicators the company monitors the gross margin achieved on its sales and key balance sheet ratios to ensure that the business is aware of and can adapt to changes in its trading environment.

Principal risks and uncertainties

The management of the business and the execution of the group’s strategy are subject to a number of risks. The key business risks and uncertainties affecting the group are considered to relate to competition.

Approved by the Board on 24 September 2025 and signed on its behalf by:

R Ginty
Director

Auger Torque Europe 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 of the company

The directors who held office during the year were as follows:

A Brydon (ceased 27 March 2024)

R Olbrich

T Friedrich

R Ginty (appointed 1 July 2024)

S Hewitt (appointed 1 July 2024 and ceased 26 August 2025)

Going concern

The directors are fully aware of their duty to assess the company's going concern status and have attended to this with particular care in consideration of the current economic and industrial outlook. The current economic conditions create uncertainty, particularly over the level of demand for the company's products. The company currently meets day-to-day cash requirements without the need for external financing.

The directors have prepared and reviewed the company's forecasts and projections and have taken into account possible changes in trading performance by considering all reasonable scenarios and the current funding position.

The directors have concluded that the company has adequate resources to meet its liabilities and the financial statements have been prepared accordingly on a going concern basis.

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.

Reappointment of auditors

Hazlewoods LLP have expressed their willingness to remain in office.

Approved by the Board on 24 September 2025 and signed on its behalf by:

......................................... R Ginty Director

Auger Torque Europe Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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 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 apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

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

•	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.

Auger Torque Europe Limited

Independent Auditor's Report to the Members of Auger Torque Europe Limited

Opinion

We have audited the financial statements of Auger Torque Europe Limited (the 'company') for the year ended 31 December 2024, which comprise the Profit and Loss Account, 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 December 2024 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 auditor 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 original financial statements were 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 included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 matter 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and 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 our 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 and the Directors' 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:

Auger Torque Europe Limited

Independent Auditor's Report to the Members of Auger Torque Europe Limited

•	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 4, 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.

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.

Extent to which the audit was capable of detecting irregularities, including fraud

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:

We considered the nature of the company’s industry and its control environment and reviewed the company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements, including the UK Companies Act and tax legislation, and, those that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

•	reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

•	performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatements due to fraud;.

•	enquiring of management concerning actual and potential litigation and claims and instances of non-compliance with laws and regulations; and

•	reading minutes of meetings of those charged with governance.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Auger Torque Europe Limited

Independent Auditor's Report to the Members of Auger Torque Europe Limited

Use of this 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 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

Ryan Hancock (Senior Statutory Auditor)
For and on behalf of Hazlewoods LLP, Statutory Auditor

Staverton Court
Staverton
Cheltenham
GL51 0UX

24 September 2025

Auger Torque Europe Limited

Profit and Loss Account for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Turnover	3	9,322,331	12,500,889
Cost of sales		(5,165,774)	(7,437,931)
Gross profit		4,156,557	5,062,958
Distribution costs		(351,228)	(333,062)
Administrative expenses		(3,124,934)	(3,166,499)
Other operating income	4	144,679	56,351
Operating profit	5	825,074	1,619,748
Other interest receivable and similar income	6	2,408,575	2,824,319
Interest payable and similar expenses		(4)	(434)
		2,408,571	2,823,885
Profit before tax		3,233,645	4,443,633
Tax on profit	9	(161,069)	(361,223)
Profit for the financial year		3,072,576	4,082,410

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Auger Torque Europe Limited

(Registration number: 03537549)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	10	196,386	222,329
Tangible assets	11	430,038	376,611
Investments	12	1,199,562	1,199,562
		1,825,986	1,798,502
Current assets
Stocks	13	1,460,736	1,323,801
Debtors	14	1,451,852	1,519,175
Cash at bank and in hand	15	1,552,843	1,774,210
		4,465,431	4,617,186
Creditors: Amounts falling due within one year	16	(497,782)	(1,200,453)
Net current assets		3,967,649	3,416,733
Total assets less current liabilities		5,793,635	5,215,235
Provisions for liabilities	17	(78,008)	(72,184)
Net assets		5,715,627	5,143,051
Capital and reserves
Called up share capital	19	10,000	10,000
Share premium reserve		3,998	3,998
Retained earnings		5,701,629	5,129,053
Total equity		5,715,627	5,143,051

Approved and authorised by the Board on 24 September 2025 and signed on its behalf by:
 

R Ginty Director

Auger Torque Europe Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 January 2024	10,000	3,998	5,129,053	5,143,051
Profit for the year	-	-	3,072,576	3,072,576
Dividends	-	-	(2,500,000)	(2,500,000)
At 31 December 2024	10,000	3,998	5,701,629	5,715,627