NKT (U.K.) Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 5212765

NKT (U.K.) Ltd

Filleted Financial Statements

31 December 2024

NKT (U.K.) Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Current assets

Debtors	5	44,127	228,486
Cash at bank and in hand		668,331	614,581
		---------	---------
		712,458	843,067

Creditors: amounts falling due within one year	6	40,323		191,347
		---------		---------
Net current assets			672,135	651,720
			---------	---------
Total assets less current liabilities			672,135	651,720

Provisions

Taxation including deferred tax	( 1,482)	( 1,482)
	---------	---------
Net assets	673,617	653,202
	---------	---------

Capital and reserves

Called up share capital	10,000	10,000
Profit and loss account	663,617	643,202
	---------	---------
Shareholder funds	673,617	653,202
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr M Hjorth

Director

Company registration number: 5212765

NKT (U.K.) Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have not been prepared on a going concern basis. Following a strategic review, the directors have resolved to discontinue the Company's operations and initiate an orderly wind-down of its affairs. As a result, the directors do not consider it appropriate to prepare the financial statements on a going concern basis. Instead, the financial statements have been prepared using a break-up basis, under which assets are stated at their recoverable amounts and liabilities are recognised as they fall due. This basis of preparation has resulted in adjustments to asset valuations and provisions for liabilities that would not have been necessary if the financial statements had been prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2023: 8 ).

5. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	44,127	167,158
Other debtors	–	61,328
	--------	---------
	44,127	228,486
	--------	---------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	–	8,728
Amounts owed to group undertakings and undertakings in which the company has a participating interest	40,323	56,974
Corporation tax	–	6,339
Social security and other taxes	–	26,887
Other creditors	–	92,419
	--------	---------
	40,323	191,347
	--------	---------

7. Post reporting date events

The directors have decided to cease trading and dissolve the company. Accordingly, assets have been stated at their estimated net realisable values and provisions have been made for liabilities and costs expected to arise on cessation of trade. No provision has been made for future costs of terminating the business unless such costs were committed at the reporting date.

8. Summary audit opinion

The auditor's report dated 25 September 2025 was unqualified , however, the auditor drew attention to the following by way of emphasis.

We draw attention to the Directors Report, which explains that the directors intend to discontinue the Company's operations and therefore do not consider it appropriate to adopt the going concern basis of accounting. Accordingly, the financial statements have been prepared on a basis other than going concern, as described in Note 3. Our opinion is not modified in respect of this matter.

The senior statutory auditor was Mark Hunter , for and on behalf of TC Group .

9. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.

10. Controlling party

The ultimate controlling party during the year was NKT A/S.