Karpowership Latam Limited

Contents
	Page
Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3—4

Page 1

Page 2

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 10172119

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors: Amounts falling due within one year	4	1,529		2,694
Cash at bank and in hand		6,788		1,673

		8,317		4,367
Creditors: Amounts falling due within one year	5	(464,049 )		(421,303 )

NET CURRENT ASSETS (LIABILITIES)			(455,732 )		(416,936 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(455,732 )		(416,936 )

NET LIABILITIES			(455,732 )		(416,936 )

CAPITAL AND RESERVES
Called up share capital	6		1		1
Profit and Loss Account			(455,733 )		(416,937 )

SHAREHOLDERS' FUNDS			(455,732)		(416,936)

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Orhan Remzi Karadeniz

Director

23 December 2025

The notes on pages 3 to 4 form part of these financial statements.

Page 2

Page 3

Karpowership Latam Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Karpowership Latam Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10172119 . The registered office is C/o Zedra, Booths Hall, Booths Park 3, Chelford Road, Knutsford, WA16 8GS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have prepared the financial statements on the going concern basis as the Company has received written confirmation from its parent company, Karpower International B.V. that it will continue to provide financial support for a period of at least 12 months from the date of signing these financial statements.

The directors acknowledge that the Company's strategic direction is being evaluated and with no employees there is material uncertainty about whether the Company will continue to be strategically important within the group. No formal decision has been made and the Company continues to be supported as described previously. As a result, the directors have adopted the going concern basis in preparing the financial statements.

2.3. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating loss.

2.4. Cash & cash equivalents

Cash is represented by cash in hand as deposits with financial institutions.

2.5. Debtors & Creditors

Debtors

Debtors are measured at transaction price, less any impairment.

Creditors

Creditors are initially recognised at transaction price and subsequently at amortised cost using the effective interest method. Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

3. Average Number of Employees

Average number of employees during the year was: NIL (2023: NIL)

4. Debtors: Amounts falling due within one year

	2024	2023
	£	£
Due within one year
VAT Recoverable	1,290	2,455
Other debtors	239	239

	1,529	2,694

5. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Trade creditors	3,600	2,940
Accruals and deferred income	17,340	18,850
Amounts owed to parent undertaking	443,109	399,513

	464,049	421,303

Included in amounts owed to parent undertaking is an amount of £299,876/$376,655 (2023 - £252,711/$322,155) which is repayable in USD. Also included is an amount of £829/€1,000 (2023 - £897/€1,000) which is repayable in Euros.

Page 3

Page 4

Karpowership Latam Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

7. Post Balance Sheet Events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were signed.

8. Ultimate Controlling Party

The Company is a wholly owned subsidiary of Karpower International B.V., a company registered in the Netherlands. The ultimate controlling party is Karpower International B.V.

9. Audit Information

The auditor's report on the accounts of Karpowership Latam Limited for the year ended 31 December 2024 was unqualified. In their report, the auditors emphasised the following matter without qualifying their report: The auditor drew attention to Note 2.2 to the accounts which indicates the existence of a material uncertainty which may cause significant doubt about the Company's ability to continue as a going concern.

The auditor's report was signed by Edward Wallis ACA (Senior Statutory Auditor) for and on behalf of ZEDRA Corporate Reporting Services (UK) Limited , Statutory Auditor.

ZEDRA Corporate Reporting Services (UK) Limited

Chartered Accountants and Statutory Auditors

Birchin Court, 5th Floor

19-25 Birchin Lane, London

EC3V 9DU

Page 4

Directors	Ms Zeynep Harezi Yilmaz
	Mr Orhan Remzi Karadeniz
	Mr Mehmet Katmer
	Mr Seyfettin Saricam

Company Number	10172119

Registered Office	Booths Hall, Booths Park 3
	Chelford Road
	Knutsford
	WA16 8GS

Auditors	ZEDRA Corporate Reporting Services (UK) Limited
	Chartered Accountants and Statutory Auditors
	Birchin Court, 5th Floor
	19-25 Birchin Lane, London
	EC3V 9DU