| Kanadevia Inova Management Services UK Limited |
| Strategic Report |
|
GROUP RESTRUCTURING
As part of the company’s internal reorganisation strategy to streamline operations and improve administrative efficiency, a corporate restructuring was undertaken during the financial year.
In July 2024, the company completed a hive-up of its wholly owned subsidiary, Iona Management Services Caledonia Limited, into its parent company, Iona Management Services Limited. This transaction involved the transfer of all business activities, assets, and liabilities from the subsidiary to the parent entity. The hive-up was carried out to consolidate operations under a single legal entity, eliminate duplication, and enhance the company’s operational efficiency. The subsidiary ceased trading following the transfer. |
|
| CHANGE OF OWNERSHIP AND CORPORATE REBRANDING |
|
| The company was acquired by Kanadevia Inova AG in December 2024. Subsequent to the acquisition, the company formally changed its name to Kanadevia Inova Management Services UK Ltd in April 2025 to align with the branding and strategic direction of the parent group. |
|
| In line with group-wide reporting alignment, the company has adopted the same financial year end as its ultimate parent undertaking. Accordingly, these statutory financial statements have been prepared for a transitional reporting period of nine months, covering the period from 1 July 2024 to 31 March 2025. |
|
| ACTIVITIES |
|
| The principal activity of the company is to service and maintain equipment within the biogas industry. |
|
| The company relies on income from management and operations contracts for anaerobic digestion sites throughout England and Scotland. The Company provided contracted services to 17 biogas sites throughout the year. |
|
| In addition to the contractual services provided, the Company engages in sourcing and selling feedstock and critical mechanical spares to these sites, as well as to 3rd party customers. |
|
| BUSINESS PERFORMANCE AND STRATEGY |
|
| The Company traded profitably during the year, demonstrating resilience despite a significant bad debt write-off resulting from a key customer entering administration. For the financial year ended, and the 9 month period ending, 31 March 2025, the Company reported a profit before tax of £0.15 million (2024: loss of £0.2 million). |
|
| At year-end, the Company maintained a positive net asset position of £0.4 million (2023: £0.3 million), reflecting its improved financial performance and prudent cost management. |
|
| The Board continues to regularly review the Company's performance, strategic direction, and opportunities for growth. The Company remains committed to the ongoing development of its business within the anaerobic digestion (AD) industry, focusing on operational efficiency, service excellence, and long-term sustainability. |
|
| PRINCIPAL RISKS AND UNCERTAINTIES |
|
| Price risk |
| The Company’s income comprises of fixed price contracts (subject to RPI movements). Other activities are recharged on a cost-plus basis, thus mitigating the impact of price rises within the industry. |
|
| Liquidity risk |
| As explained in the Going Concern note below the Company’s liquidity risk is assessed regularly through review of the balance sheet and cash flow forecasts. |
|
| Credit risk |
| Credit risk is assessed through regular review of the Company’s debtor position, including aged debts. A significant proportion of the aged debt on the Company’s balance sheet is due from related parties where there is visibility over debt recovery. The Company is in receipt of a long-term loan, from entities controlled by Iona Capital Limited, representing the debt due from related parties. The Board regularly reviews the debt recovery position. |
|
| Other risks |
| The Company’s other principal risks include legal, regulatory and operational risk. The Company has detailed policies and procedures surrounding these risks, which are regularly reviewed by external advisors. |
|
| GOING CONCERN |
|
| The Company’s activities, together with the factors likely to affect its future development, its financial position and the financial risks are described above. |
|
| After reviewing the balance sheet and cash flow forecasts and projections, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, which is a period of twelve months from the date of approval of these financial statements. Accordingly, they continue to adopt the going concern basis in preparing financial statements. |
|
| KEY PERFORMANCE INDICATORS (‘KPIs’) |
|
| The Directors consider revenue and profit before tax to be the Company’s principal key performance indicators, as they provide a clear measure of financial performance and underlying business activity. |
|
| For the nine months ended 31 March 2025, the Company generated revenue of £10.0 million (twelve months to 30 June 2024: £12.6 million) and reported a profit before tax of £0.15 million (30 June 2024: loss of £0.2 million). |
|
| These KPIs are monitored regularly by the Board as part of the Company’s financial and operational oversight to ensure alignment with strategic objectives and to support timely decision-making. |
|
| This report was approved by the board on 3 October 2025 and signed on its behalf. |
|
|
|
| Peter Mills |
| Director |
|
| ● |
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’s 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 |
| We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: |
| 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. |
| However we draw attention to the accounting policy on going concern in the financial statements which sets out the directors' detailed considerations |
| 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 other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 directors’ report for the financial period for which the financial statements are prepared is consistent with the financial statements; and |
| ● |
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. |
|
| Matters on which we are required to report by exception |
| Extent to which the audit was considered 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 and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud. |
| We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. |
| In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included: |
| ● |
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; |
| ● |
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection; |
| ● |
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; |
| ● |
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. |
| Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
|
| Kanadevia Inova Management Services UK Limited |
| Notes to the Accounts |
| for the period from 1 July 2024 to 31 March 2025 |
|
| 1 |
Summary of significant accounting policies |
|
|
Accounting convention |
|
These financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
|
|
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £. |
|
|
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
|
|
The financial period has been reduced by three months. The financial statements report on a 9 month period to 31 March 2025 |
|
|
Going concern |
|
At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue trading for the foreseeable future,with support from the wider Group if necessary. |
|
|
Turnover |
|
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
|
|
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
|
|
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
|
Intangible fixed assets |
|
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been amortised on a systematic basis over its expected life, which is 5 years. |
|
|
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit |
|
|
Tangible fixed assets |
|
|
Impairment of fixed assets |
|
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
|
|
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. |
|
|
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. |
|
|
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Stocks |
|
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition |
|
|
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential |
|
|
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Financial instruments |
|
The company 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, with 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. |
|
|
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. |
|
|
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. |
|
|
Employee benefits |
|
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
|
|
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. |
|
|
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
|
|
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. |
|
|
| 2 |
Analysis of turnover |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Sale of goods |
10,048,561 |
|
12,305,144 |
|
|
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
UK |
10,048,561 |
|
12,305,144 |
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Operating profit |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
38,248 |
|
12,882 |
|
Depreciation of assets held under finance leases and hire purchase contracts |
|
|
|
- |
|
993 |
|
Operating lease rentals - plant and machinery |
288,433 |
|
316,584 |
|
Operating lease rentals - land and buildings |
176,194 |
|
209,911 |
|
Auditors' remuneration for audit services |
11,470 |
|
7,980 |
|
Auditors' remuneration for other services |
1,150 |
|
750 |
|
Carrying amount of stock sold |
6,451,924 |
|
8,049,025 |
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Staff costs |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Wages and salaries |
1,930,300 |
|
2,037,060 |
|
Social security costs |
249,378 |
|
198,540 |
|
Other pension costs |
54,961 |
|
57,910 |
|
|
|
|
|
|
|
|
2,234,639 |
|
2,293,510 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
Number |
Number |
|
|
Administration |
12 |
|
14 |
|
Development |
39 |
|
30 |
|
|
|
|
|
|
|
|
51 |
|
44 |
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Interest payable |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Bank loans and overdrafts |
17,116 |
|
18,318 |
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Taxation |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK corporation tax on profits of the period |
- |
|
(5,282) |
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
(67,236) |
|
4,437 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax on loss on ordinary activities |
(67,236) |
|
(845) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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: |
|
| 31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
Profit/(loss) on ordinary activities before tax |
87,182 |
|
(208,877) |
|
|
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
25% |
|
20% |
|
| £ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
|
|
21,796 |
|
(41,775) |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
- |
|
(4,437) |
|
Utilisation of tax losses |
(21,796) |
|
40,930 |
|
|
Corporation tax charged / (credited) |
- |
|
(5,282) |
|
Deferred tax (credited) / charged |
(67,236) |
|
4,437 |
|
|
Current tax charge for period |
(67,236) |
|
(845) |
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Tangible fixed assets |
|
|
Plant and machinery |
|
Fixtures, fittings, tools and equipment |
|
Office Equipment |
|
Motor Vehicles |
|
Total |
|
|
At cost |
|
At cost |
|
At cost |
|
At cost |
| £ |
£ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 July 2024 |
69,154 |
|
15,789 |
|
57,975 |
|
89,582 |
|
232,500 |
|
Additions |
28,304 |
|
533 |
|
8,096 |
|
83,370 |
|
120,303 |
|
Disposals |
(3,796) |
|
- |
|
- |
|
- |
|
(3,796) |
|
At 31 March 2025 |
93,662 |
|
16,322 |
|
66,071 |
|
172,952 |
|
349,007 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2024 |
62,456 |
|
15,789 |
|
56,219 |
|
13,233 |
|
147,697 |
|
Charge for the period |
9,789 |
|
134 |
|
3,671 |
|
24,654 |
|
38,248 |
|
On disposals |
(3,796) |
|
- |
|
- |
|
- |
|
(3,796) |
|
At 31 March 2025 |
68,449 |
|
15,923 |
|
59,890 |
|
37,887 |
|
182,149 |
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2025 |
25,213 |
|
399 |
|
6,181 |
|
135,065 |
|
166,858 |
|
At 30 June 2024 |
6,698 |
|
- |
|
1,756 |
|
76,349 |
|
84,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
Total |
| £ |
£ |
|
Cost |
|
At 1 July 2024 |
1 |
|
1 |
|
Disposals |
- |
|
- |
|
At 31 March 2025 |
1 |
|
1 |
|
|
Financial statements are prepared separately for Iona Management Services (Caledonia) Limited. The group has taken advantage of the exemption to prepare consolidated financial statements on the basis that it is small.
|
|
|
Name of undertaking |
Registered office |
Class of
shares |
|
% Held
Direct |
|
|
Iona Management Services (Caledonia) Limited |
England and Wales |
Ordinary |
|
100% |
|
|
| 9 |
Stocks |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Work in progress |
14,835 |
|
- |
|
Finished goods and goods for resale |
123,869 |
|
132,080 |
|
|
|
|
|
|
|
|
138,704 |
|
132,080 |
|
|
|
|
|
|
|
|
|
|
|
|
| 10 |
Debtors |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Trade debtors |
4,581,083 |
|
4,844,859 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
|
- |
|
165,000 |
|
Deferred tax asset (see note 14) |
|
|
|
|
|
|
66,338 |
|
- |
|
Other debtors |
84,958 |
|
102,645 |
|
Prepayments |
127,764 |
|
83,120 |
|
Accrued Income |
419,582 |
|
379,345 |
|
|
|
|
|
|
|
|
5,279,725 |
|
5,574,969 |
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Creditors: amounts falling due within one year |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Bank loans |
10,246 |
|
10,056 |
|
Obligations under finance lease and hire purchase contracts |
84,961 |
|
66,706 |
|
Trade creditors |
1,340,063 |
|
1,255,060 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
4,006,927 |
|
4,006,927 |
|
Other taxes and social security costs |
309,293 |
|
278,874 |
|
Other creditors |
12,144 |
|
14,425 |
|
Accruals |
592,283 |
|
400,504 |
|
Deferred Income |
35,204 |
|
126,273 |
|
|
|
|
|
|
|
|
6,391,121 |
|
6,158,825 |
|
|
|
|
|
|
|
|
|
|
|
|
The intercompany loan with Kavadevia Capital Limited is classified as a current liability, under the rules of FRS102. The loan has no set repayment terms, therefore as a result is deemed as repayable on demand. The loan is unlikely to be recalled within the next 12 months |
|
|
| 12 |
Creditors: amounts falling due after one year |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Bank loans |
10,506 |
|
18,023 |
|
Obligations under finance lease and hire purchase contracts |
147,173 |
|
115,388 |
|
|
|
|
|
|
|
|
157,679 |
|
133,411 |
|
|
|
|
|
|
|
|
|
|
|
|
| 13 |
Obligations under finance leases and hire purchase |
31-Mar-25 |
30-Jun-24 |
|
contracts |
£ |
£ |
|
|
Amounts payable: |
|
Within one year |
84,961 |
|
66,706 |
|
Within two to five years |
147,173 |
|
115,388 |
|
|
|
|
|
|
|
|
232,134 |
|
182,094 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 14 |
Deferred taxation |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
Accelerated capital allowances |
(66,338) |
|
898 |
|
|
|
|
|
|
|
|
|
|
|
|
| 31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
At 1 July |
898 |
|
(3,539) |
|
(Credited)/charged to the profit and loss account |
(67,236) |
|
4,437 |
|
|
At 31 March |
(66,338) |
|
898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 15 |
Share capital |
Nominal |
|
2025 |
31-Mar-25 |
30-Jun-24 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
40,000 |
|
|
|
40,000 |
|
40,000 |
|
|
|
|
|
|
|
|
|
|
|
|
| 16 |
Profit and loss account |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
|
At 1 July |
395,427 |
|
603,459 |
|
Profit/(loss) for the period |
154,418 |
|
(208,032) |
|
Loss on acquisition |
(161,850) |
|
- |
|
|
At 31 March |
387,995 |
|
395,427 |
|
|
|
|
|
|
|
|
|
|
|
|
| 17 |
Other financial commitments |
|
|
Total future minimum lease payments under non-cancellable operating leases: |
|
|
|
|
|
Land and buildings |
|
Land and buildings |
Other |
Other |
|
|
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| £ |
£ |
£ |
£ |
|
Falling due: |
|
within one year |
44,955 |
|
44,955 |
|
189,574 |
|
154,598 |
|
within two to five years |
131,239 |
|
164,955 |
|
98,859 |
|
161,986 |
|
|
|
|
176,194 |
|
209,910 |
|
288,433 |
|
316,584 |
|
|
|
|
|
|
|
|
|
|
|
|
| 18 |
Related party transactions |
31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
Transactions with related parties |
|
During the year the company entered into the following transactions with related parties: |
|
|
Sales made to entities with common control or common significant influence |
|
|
|
9,224,008 |
|
12,151,933 |
|
|
|
|
|
|
|
|
|
|
|
| 31-Mar-25 |
30-Jun-24 |
| £ |
£ |
|
Amounts due from related parties |
|
Entities with common control or common significant influence |
|
|
|
3,809,305 |
|
4,955,206 |
|
|
|
|
|
|
|
|
|
|
|
|
At the year end the company owes £4,006,297 (2024: £4,006,297) on loans received from entities controlled by Kanadevia Capital Limited. The loans are interest free |
|
|
| 19 |
Controlling party |
|
|
The ultimate controlling party is Kanadevia Inova AG. |
|
The immediate parent company is Kanadevia Inova Management Services UK Holdco Limited |
|
| 20 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
| 21 |
Legal form of entity and country of incorporation |
|
|
Kanadevia Inova Management Services UK Limited is a private company limited by shares and incorporated in England. |
|
|
| 22 |
Principal place of business |
|
|
The address of the company's principal place of business and registered office is: |
|
|
Marlborough House, |
|
Westminster Place, Nether Poppleton, |
|
York |
|
North Yorkshire |
|
YO26 6RW |