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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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KLINGER LIMITED
COMPANY INFORMATION
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KLINGER LIMITED
CONTENTS
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KLINGER LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their strategic report together with the audited financial statements for the year ended 31 December 2025.
The company achieved turnover of £22,875,509 in the year ended 31 December 2025, (2024: £27,172,757) and a loss before tax of £502,456 (2024 profit before tax £119,015).
The operational decline in the year is driven by the company experiencing significant headwinds with the closure of a third of the major UK refineries leaving only four major refineries in the UK and the continued de-industrialisation within the UK. Despite the challenging year the company retains a positive outlook for the future via continued investment in people and technology and working closely with our customer base and supply chain.
The directors have completed cashflow forecasts for a period of not less than 12 months from the date of these Financial statements, which shows sufficient funds in place for the company to continue as a going concern.
Sensitivity analysis has been performed on these cashflow forecasts which take into account a range of factors. The directors continue to monitor trading performance closely and engage in dialogue with the wider group to plan cash needs for the next year. As a result the directors are satisfied that the company is a going concern.
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KLINGER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The company operates in a highly competitive market and whilst its products and support infrastructure are extremely well regarded with the industry, the market for sealing products in the UK is relatively static. The market has a relatively large number of operators and the timing of their purchasing can materially affect demand in any year or part of a year.
The company works with customers to achieve a balanced production programme and optimum stock levels throughout the UK branch network to minimise the need for capacity adjustments whilst offering the expected levels of service. Competition from products entering the UK market from lower cost economies in Eastern Europe and the Far East continues to grow. However, the company has continued to invest in its UK manufacturing facility to enhance its excellent reputation for quality and the ability to meet ever reducing lead times. The company continues to allocate resources to the purchasing function to source key raw materials in the most cost-effective manner. Material traceability and continuity of supply remain, alongside cost, as the key criteria for the continuing success of the company. A programme of reinvestment in the manufacturing capacity of the company has meant Klinger UK can maintain its position as a market leading manufacturer of gaskets and seals. The services division continues to growth and enables Klinger to offer a portfolio of sealing solutions for businesses in various industries. The principal risks and uncertainties affecting the business include the following:
∙Energy costs: the company monitors the cost of energy supplies on a regular basis and negotiates forward purchase contracts where appropriate with key suppliers. As a result, to date the company has substantially mitigated the effects of increasing wholesale prices, and will continue to actively pursue this policy in the future.
∙Commodity costs: A significant volume of the company's product portfolio are metallic gaskets and seals. Variations in steel prices, driven by the underlying variations in the various related alloys is monitored closely.
∙Environmental risks: the company places considerable emphasis upon environmental compliance and not only seeks to ensure ongoing compliance with relevant legislation but also strives to ensure that environmental best practice is incorporated into its key processes. Continued investment in the UK manufacturing facility enables environmental benefits to be achieved.
∙Debtors: the company maintains strong relationships with each of its key customers and has established credit control parameters. Appropriate credit terms are set and these are closely managed. The company continues to see an increasing number of requests from major customers asking for extended payment terms
∙The effect of legislation or other regulatory activities: the company monitors forthcoming and current legislation regularly. The company will continue to invest significantly in statutory compliance and is proactive in the execution of its duties.
∙Competitive risk: the company operates in highly competitive markets. Service innovations or technical advances by competitors could potentially adversely affect the group. The barriers to entry in these markets are substantial. The company continues to invest in service innovations and technical advances of its own whilst monitoring market activity.
∙Various political and macro-economic factors have impacted investment confidence in the oil and gas industry to varying degrees. This undoubtedly has an effect on the timing of investment decisions which ultimately impact on company turnover.
Key areas of strategic development and performance of the business include:
∙Sales and marketing: the company strives to win new and replacement business continually. New customer and geographical markets continue to be developed in line with the company and group's strategy. The company continues to develop its portfolio of products. Key customer relationships are managed and reviewed on a regular basis.
∙In conjunction with customer demand and a continuous review of customer service requirements, added
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KLINGER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
value services continue to be developed by the company.
This section is intended to explain how directors regard broader stakeholder interests and seek to promote the success of the company for the benefit of its members.
The directors are committed to operating the business in an ethical and sustainable way. This underpins our approach to everything we do and everyone we deal with. Our team is committed to acting responsibly, managing our resources sustainably, engaging with our people and supporting the communities in which we operate. The directors of the company maintain that no exceptional key decisions were undertaken that directly or indirectly affected business stakeholders during 2025. Business decisions typically associated with the continued success of the company are undertaken by the management team on a monthly basis in accordance to their roles and duties when considering the dynamics of the trading environment. As a subsidiary of Klinger Holdings GmbH, major decision making, such as new business or infrastructure acquisition, is not unilaterally undertaken without review with the parent company. Decisions on key personnel are made collaboratively with the parent company. The directors of the company are committed to maintain industry leading standards on manufacturing quality, customer service, environmental sustainability, and supply chain management. These standards of management and conduct are continually developed through the various industry specific accreditations the company holds. The company develops strong and mutually beneficial relationships with customers and suppliers alike. It strives to develop our commercial capabilities through investment and focus on supply chain innovation, brand development, consumer and market insight and effective category management. The company is committed to its employees personal and professional development. Training and development programmes are initiated at every level of the organisation.
This report was approved by the board on 11 August 2026 and signed on its behalf.
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KLINGER 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.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙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 to 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.
The loss for the year, after taxation, amounted to £502,456 (2024 - profit £115,988).
No dividends have been declared in the current year.
The directors who served during the period and up to the date of this report were:
The company has chosen in accordance with section 414C(11) of the Companies Act 2006(Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.
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KLINGER LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Under section 487(2) of the Companies Act 2006, AAB Audit & Accountancy Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the board on
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KLINGER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KLINGER LIMITED
We have audited the financial statements of Klinger Limited (the 'company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position and the related notes, 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).
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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.
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.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
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KLINGER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KLINGER LIMITED (CONTINUED)
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 year 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.
In the light of the 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 or the Directors' Report.
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KLINGER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KLINGER LIMITED (CONTINUED)
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 Auditors' 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.
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:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements.
The laws and regulations we considered in this context were the Companies Act 2006, UK Health and Safety legislation, UK Employment legislation and UK Taxation legislation. We identified the greatest risk of material impact on the financial statements from irregularities including fraud to be:
∙Management override of controls to manipulate the company’s key performance indicators to meet targets
∙Timing of revenue recognition
∙Management judgement applied in calculating provisions
∙Compliance with relevant laws and regulations which directly impact the financial statements and those that the company needs to comply with for the purpose of trading
Our audit procedures to respond to these risks included:
∙Testing of journal entries and other adjustments for appropriateness
∙Sales cut off testing to ensure revenue was recognised in the correct period
∙Evaluating the business rationale of significant transactions outside the normal course of business
∙Reviewing judgements made by management in their calculation of accounting estimates for potential management bias
∙Enquiries of management about litigation and claims and inspection of relevant correspondence
∙Reviewing legal and professional fees to identify indications of actual or potential litigation, claims and any non-compliance with laws and regulations
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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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KLINGER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF KLINGER LIMITED (CONTINUED)
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 Auditors' 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.
for and on behalf of
Statutory Auditor
Gresham House
5-7 St Pauls Street
LS1 2JG
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KLINGER LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2025
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KLINGER LIMITED
REGISTERED NUMBER: 01021936
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 24 form part of these financial statements.
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The principal activity of the company is the manufacture and sale of industrial gaskets. The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Klinger Building, Wharfedale Road, Euroway Trading Estate, Bradford, West Yorkshire, BD4 6SG.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A.
This information is included in the consolidated financial statements of Klinger Holding GmbH as at 31 December 2025 and these financial statements may be obtained from AM Kanal 8-10, 2352 Gumpoldskirchen, Austria.
The directors have completed cashflow forecasts for a period of not less than 12 months from the date of these financial statements, which shows sufficient funds in place for the company to continue as a going concern. Sensitivity analysis has been performed on these cashflow forecasts which take into account a range of factors.
The directors continue to monitor trading performance closely and engage in dialogue with the wider group to plan cash needs for the next year. As a result the directors are satisfied that the company is a going concern.
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
These criteria are considered to be met when the goods are dispatched for local sales, or free on board for export sales. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: • the amount of revenue can be measured reliably; • it is probable that the company will receive the consideration due under the contract; • the stage of completion of the contract at the end of the reporting period can be measured reliably; and • the costs incurred and the costs to complete the contract can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Tangible fixed assets (see note 12) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Stocks (see note 13) Stocks are measured at the lower of cost and net realisable value. Management reviews the carrying amount of the inventory at the end of each reporting period, and makes allowance for any inventory items identified to be carried at a recoverable value that is lower than cost through estimation of the expected selling prices under current market conditions.
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
Analysis of turnover by country of destination:
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Taxation (continued)
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company's capital and reserves are as follows:
Share premium account
transaction costs.
Called up share capital
Other reserves
Profit and loss account
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £374,170 (2024: £348,813). The balance outstanding at year end in relation to pension payments is £50,651 (2024: £49,954).
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KLINGER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The company is a subsidiary undertaking of Klinger Holdings Limited. The ultimate parent undertaking is
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