Company Registration No. 00937661 (England and Wales)
KRUGER TISSUE (INDUSTRIAL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2025
31 December 2025
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
KRUGER TISSUE (INDUSTRIAL) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
KRUGER TISSUE (INDUSTRIAL) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£000
£000
£000
£000
Current assets
-
-
Creditors: amounts falling due within one year
3
(210)
(210)
Net current liabilities
(210)
(210)
Capital and reserves
Called up share capital
5
5,460
5,460
Share premium account
47,833
47,833
Profit and loss reserves
(53,503)
(53,503)
Total equity
(210)
(210)

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements. true

The financial statements were approved and signed by the director and authorised for issue on 14 May 2026
Mr D Angel
Director
Company registration number 00937661 (England and Wales)
KRUGER TISSUE (INDUSTRIAL) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
£000
£000
£000
£000
Balance at 1 January 2024
5,460
47,833
(53,503)
(210)
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
0
-
0
Balance at 31 December 2024
5,460
47,833
(53,503)
(210)
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
-
0
-
0
Balance at 31 December 2025
5,460
47,833
(53,503)
(210)
KRUGER TISSUE (INDUSTRIAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Kruger Tissue (Industrial) Limited is a private company limited by shares incorporated in England and Wales. The registered office is No. 1 St Paul's Square, Liverpool, Merseyside, L3 9SJ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 financial statements are rounded to the nearest £000.

The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a basis other than going concern on the grounds that the trading activities of the company have ceased and all future plans for the company are uncertain. As a result the company is no longer considered a going concern. The company ceased to trade on 8 December 2009 and during the year to 31 December 2025 the company was non trading. true

1.3
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.4
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.

KRUGER TISSUE (INDUSTRIAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

1.5
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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

KRUGER TISSUE (INDUSTRIAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
3
Creditors: amounts falling due within one year
2025
2024
£000
£000
Amounts owed to group undertakings
210
210

Amounts due to group undertakings are unsecured, non-interest bearing and repayable upon demand.

4
Deferred tax

The potential deferred tax asset of £586,000 (2024 - £586,000) arising from unrelieved tax losses has not been recognised in the financial statements since the company no longer trades. The accumulated tax losses are considered to be unrelievable.

5
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£000
£000
Issued and fully paid
Ordinary Shares of £1 each
5,460,003
5,460,003
5,460
5,460
6
Parent company

T he immediate controlling parent undertaking is Charles Turner & Company Limited. The ultimate parent undertaking and controlling party is Kruger Inc, a company registered in Canada. Kruger Inc is the parent undertaking of the largest and smallest group of undertakings to consolidate these financial statements at 31 December 2025. The consolidated financial statements of Kruger Inc are available from the secretary, Kruger Inc, Bedford Road, Montreal, Canada.

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