REGISTERED NUMBER: 10105414 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

TRAMONTINA UNITED KINGDOM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Alexandre Frubel

Tramontina Internacional S. A.

SECRETARY:

Alexandre Frubel

REGISTERED OFFICE:

Cannon Wharf

Pell Street

London

SE8 5EN

REGISTERED NUMBER:

10105414 (England and Wales)

AUDITORS:

Owadally & King

Chartered Certified Accountants

& Statutory Auditors

73 Park Lane

Croydon

Surrey

CR0 1JG

FIXED ASSETS

Tangible assets

4

20,075

20,183

CURRENT ASSETS

Stocks

1,094,054

1,274,058

Debtors

5

1,413,496

923,420

Cash at bank and in hand

313,341

129,311

2,820,891

2,326,789

CREDITORS

Amounts falling due within one year

6

1,956,005

2,303,927

NET CURRENT ASSETS

864,886

22,862

TOTAL ASSETS LESS CURRENT LIABILITIES

884,961

43,045

CREDITORS

Amounts falling due after more than one year

7

1,000,000

-

NET (LIABILITIES)/ASSETS

(115,039

)

43,045

CAPITAL AND RESERVES

Called up share capital

8

1,785,000

1,555,000

Retained earnings

(1,900,039

)

(1,511,955

)

SHAREHOLDERS' FUNDS

(115,039

)

43,045

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

Alexandre Frubel - Director

1.	STATUTORY INFORMATION

Tramontina United Kingdom 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The parent company of Tramontina United Kingdom Limited is Tramontina Internacional S.A, a company registered in Brazil, they prepare group accounts which include Tramontina United Kingdom Limited. The parent company's address is Av.25 de Setembro, 1024, Triangulo quarter- Carlos Barbosa, Rio Grande do Sul, 95185-000 Brazil.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue is recognised on an agency basis given the risks and rewards of the transaction rest with the principals for which the company acts. Commission revenue is recognised in the company when the risks and rewards of ownership pass from principal to customers.

Tangible fixed assets

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

Plant and machinery etc

-

20% 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

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Retirement benefits

For defined contribution schemes the amount charged to the profit and loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment is recognised immediately in the profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

61,712

Additions

10,086

At 31 December 2024

71,798

DEPRECIATION

At 1 January 2024

41,529

Charge for year

10,194

At 31 December 2024

51,723

NET BOOK VALUE

At 31 December 2024

20,075

At 31 December 2023

20,183

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

981,225

688,622

Amounts owed by group undertakings

153,029

153,029

Other debtors

253,058

59,621

1,387,312

901,272

Amounts falling due after more than one year:

Other debtors

26,184

22,148

Aggregate amounts

1,413,496

923,420

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

74,756

-

Trade creditors

46,161

48,938

Amounts owed to group undertakings

1,759,191

2,167,459

Taxation and social security

53,940

70,403

Other creditors

21,957

17,127

1,956,005

2,303,927

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,000,000

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

17,850

Ordinary

100

1,785,000

1,555,000

2,300 Ordinary shares of 100 each were allotted and fully paid for cash at par during the year.

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

The Report of the Auditors was unqualified.

Mr Mohammed Yousouf F Owadally (Senior Statutory Auditor)

for and on behalf of Owadally & King

10.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Tramontina Internacional S. A..

12.	GOING CONCERN

The disclosed net current liabilities primarily consist of amounts owed to associate companies within the group. These intercompany payables, arising from routine transactions, are managed effectively, with a history of timely settlements and support from the head office.

The group's financial position, liquidity, and cash flow forecasts instill confidence in meeting obligations as they become due, including those to associate companies. Therefore, in this context, the net current liabilities do not indicate material going concern issues for the standalone entity.

The financial statements have been prepared on a going concern basis, reflecting the financial support provided by the head office to the UK company. It is anticipated that the UK operation will continue for the foreseeable future.