Year Ended
Registration number:
WISKA UK Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Statement of Income and Retained Earnings |
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Balance Sheet |
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Statement of Cash Flows |
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Notes to the Financial Statements |
WISKA UK Limited
Company Information
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Directors |
R S Hoppmann T A Hoppmann W J Rich |
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Registered office |
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Auditors |
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WISKA UK Limited
Strategic Report for the Year Ended 31 December 2025
The directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the company is the wholesale distribution of electrical installation material and other allied products
Fair review of the business
The company supplies the Electrical Distribution and Industry markets with electrical products. These products are imported from Europe and India and are generally of a superior quality to most competitors in the UK, most of whom import from Asia.
Through supplying innovative, high-quality products with a high level of service the business can supply the UK market effectively.
We operate a proactive marketing operation, with a highly trained sales team that are continually developing the market.
Our financial position is secure, along with the support of our Parent company, which has been in existence for over 100 years.
Principal risks and uncertainties
The principal risks and uncertainties in the UK Economy as of 2025 include a combination of global challenges and domestic vulnerabilities. These include a risk of persistent inflationary pressures, sluggish GDP growth with global economic conditions and the effectiveness of government stimulus in the market. Whilst the company has considered this in their plans, pressure on unstable exchange rates are always cause for concern.
Approved and authorised by the
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WISKA UK Limited
Directors' Report for the Year Ended 31 December 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
Directors of the company
The directors who held office during the year were as follows:
Price risk, credit risk, liquidity risk and cashflow risk
The company considers the major financial risks of the business to be linked to liquidity, cash flow, price risk and credit risk. The company mitigates these risks by carefully managing cash, stock and debt levels. The experience of management enables the company to respond to changes in the economy and to adapt the company's strategies accordingly.
Going concern
WISKA UK Ltd had a successful year in 2025. This trend has continued into the first part of 2026, and with a slightly improved economic outlook in the construction sector, there is no reason for this to change.
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.
Approved and authorised by the
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WISKA UK 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:
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• |
select suitable accounting policies and apply them consistently; |
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• |
make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
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.
WISKA UK Limited
Independent Auditor's Report to the Members of WISKA UK Limited
Opinion
We have audited the financial statements of WISKA UK Limited (the 'company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, Balance Sheet, Statement of Cash Flows, 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 2025 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 director's 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.
WISKA UK Limited
Independent Auditor's Report to the Members of WISKA UK Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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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 |
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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:
• | 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 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.
WISKA UK Limited
Independent Auditor's Report to the Members of WISKA UK Limited
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:
As part of our audit planning, we obtained an understanding of the legal and regulatory framework that is applicable to the company. We gained an understanding of the industry in which the company operates as part of this assessment to identify the key laws and regulations affecting the company. As part of this, we reviewed the company's website for indication of any regulations and certification in place which are applicable to the company and discussed these with the relevant individuals responsible for compliance. Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to The General Data Protection Regulation ("GDPR"), health and safety regulations and ISO standards. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.
We discussed with management how the compliance with these laws and regulations is monitored and discussed policies and procedures in place. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the company's ability to continue operating and the risk of material misstatement to the accounts. We also evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures included the following:
- Enquiries of management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances of fraud.
- Reviewing board meeting minutes for the year to identify possible non-compliance with laws and regulations.
- Reviewing key ISO certifications noted on the company's website to ensure that the company was entitled to display them and they are up to date and valid.
- Auditing the risk of management override of controls, including through testing of journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
- Reviewing estimates and judgements made in the accounts for any indication of bias and challenging assumptions used by management in making the estimates.
- Reviewing legal and professional costs to identify any possible non-compliance or legal costs in respect of non-compliance.
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. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
WISKA UK Limited
Independent Auditor's Report to the Members of WISKA UK Limited
Use of our 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.
......................................
Lowin House
Tregolls Road
TR1 2NA
WISKA UK Limited
Statement of Income and Retained Earnings
Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
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|
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Profit before tax |
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|
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Taxation |
( |
( |
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Profit for the financial year |
|
|
|
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Retained earnings brought forward |
2,128,569 |
1,446,839 |
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Dividends paid |
( |
- |
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Retained earnings carried forward |
2,278,996 |
2,128,569 |
WISKA UK Limited
Balance Sheet
31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Approved and authorised by the
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Company Registration Number: 03910472
WISKA UK Limited
Statement of Cash Flows
Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Cash flows from operating activities |
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Profit for the year |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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Income tax expense |
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Working capital adjustments |
|||
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Increase in stocks |
( |
( |
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Increase in debtors |
( |
( |
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Increase in creditors |
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(Decrease)/increase in deferred income, including government grants |
( |
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Cash generated from operations |
|
( |
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Income taxes paid |
( |
( |
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Net cash flow from operating activities |
|
( |
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Cash flows from investing activities |
|||
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Acquisitions of tangible assets |
( |
( |
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Cash flows from financing activities |
|||
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Dividends paid |
( |
- |
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Net increase/(decrease) in cash and cash equivalents |
|
( |
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Cash and cash equivalents at 1 January |
|
|
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Cash and cash equivalents at 31 December |
1,098,812 |
687,874 |
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WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Unit 7, Hurling Way
St. Columb Major Business Park
St Columb Major
Cornwall
TR9 6SX
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Key sources of estimation uncertainty
The company estimates the rebates accrual based on individual customer sales during the year. These are based on rates agreed with each customer on an individual basis throughout the year. The accrual has increased due to the increased turnover in the year. The total rebates provided in the Profit and Loss Account were £4,701,359 (2024 - £3,932,511). The carrying amount is £2,777,605 (2024 -£2,440,048).
Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and are released to the Profit and Loss Account in line with depreciation over the expected useful lives of the relevant assets. Grants in respect of revenue expenditure are credited to the Profit and Loss Account as the expenditure is incurred.
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.
WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
Foreign currency transactions and balances
Tax
Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised on all timing differences at the balance sheet date.Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold Improvements |
10% straight line |
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Plant and Machinery |
20% straight line |
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Office equipment |
33% straight line |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
Financial instruments
Classification
Recognition and measurement
|
Revenue |
The analysis of the company's Turnover for the year from continuing operations is as follows:
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2025 |
2024 |
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Sale of goods |
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Delivery charges |
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The analysis of the company's Turnover for the year by market is as follows:
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2025 |
2024 |
|
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UK |
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Rest of world |
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|
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Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Miscellaneous other operating income |
|
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WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Foreign exchange gains |
( |
( |
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Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
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Wages and salaries |
|
|
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Social security costs |
|
|
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Pension costs, defined contribution scheme |
|
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The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
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2025 |
2024 |
|
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Production |
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Administration and support |
|
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Other departments |
|
|
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Directors' remuneration |
The directors' remuneration for the year was as follows:
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2025 |
2024 |
|
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Remuneration |
|
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During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
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Accruing benefits under money purchase pension scheme |
|
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WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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Auditor's remuneration |
|
2025 |
2024 |
|
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Audit of the financial statements |
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Other fees to auditors |
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All other non-audit services |
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Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
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Current taxation |
||
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UK corporation tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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Tax expense in the income statement |
|
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The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
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Tax increase from effect of unrelieved tax losses carried forward |
- |
|
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Total tax charge |
|
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WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
Deferred tax
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Fixed asset timing differences |
- |
|
|
- |
|
|
2024 |
Asset |
Liability |
|
Fixed asset timing differences |
- |
|
|
- |
|
|
Tangible assets |
|
Leasehold improvements |
Office equipment |
Plant and machinery |
Total |
|
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Cost or valuation |
||||
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At 1 January 2025 |
|
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Additions |
- |
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At 31 December 2025 |
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Depreciation |
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At 1 January 2025 |
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Charge for the year |
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At 31 December 2025 |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Stocks |
|
2025 |
2024 |
|
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Other inventories |
|
|
WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Other debtors |
- |
|
|
Prepayments |
|
|
|
|
|
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Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
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Trade creditors |
|
|
|
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Amounts due to group undertakings |
|
|
|
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Social security and other taxes |
|
|
|
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Other creditors |
|
|
|
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Accruals |
|
|
|
|
Corporation tax |
52,804 |
205,020 |
|
|
Deferred income |
|
|
|
|
|
|
WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
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Later than five years |
|
- |
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Additional provisions |
|
|
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At 31 December 2025 |
|
|
|
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||
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Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
80,000 |
|
80,000 |
|
Dividends |
Interim dividends paid
|
2025 |
2024 |
|||
|
Interim dividend of £ |
|
- |
||
WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Commitments |
Capital commitments
The total amount contracted for but not provided in the financial statements was £
|
Net debt |
|
At 1 January 2025 |
Cash flow |
Other non cash changes |
At 31 December 2025 |
|
|
£ |
£ |
£ |
£ |
|
|
Cash at bank and on hand |
687,874 |
410,938 |
- |
1,098,812 |
|
Bank overdrafts |
- |
- |
- |
- |
|
Cash and cash equivalents |
687,874 |
410,938 |
- |
1,098,812 |
|
Loans due under one year |
- |
- |
- |
- |
|
Loans due after one year |
- |
|||
|
Net debt |
687,874 |
410,938 |
- |
1,098,812 |
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
|
Related party transactions |
Summary of transactions with parent
Income and receivables from related parties
|
2025 |
Parent |
|
Sale of goods |
|
|
Receipt of services |
|
|
|
|
|
Amounts receivable from related party |
|
|
|
|
WISKA UK Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
2024 |
Parent |
|
Sale of goods |
|
|
Receipt of services |
|
|
|
|
|
Amounts receivable from related party |
|
|
|
|
Expenditure with and payables to related parties
|
2025 |
Parent |
|
Purchase of goods |
|
|
Amounts payable to related party |
|
|
|
|
|
2024 |
Parent |
|
Purchase of goods |
|
|
Amounts payable to related party |
|
|
|
|
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is