REGISTERED NUMBER: 10418106 (England and Wales)

KANDOU BUS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

M A Shokrollahi

L Srujan

G Cinque

REGISTERED OFFICE:

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

REGISTERED NUMBER:

10418106 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

492,900

742,510

CURRENT ASSETS

Debtors

5

4,605,946

3,039,571

Cash at bank

26,130

726,267

4,632,076

3,765,838

CREDITORS

Amounts falling due within one year

6

685,626

627,750

NET CURRENT ASSETS

3,946,450

3,138,088

TOTAL ASSETS LESS CURRENT LIABILITIES

4,439,350

3,880,598

PROVISIONS FOR LIABILITIES

29,385

29,385

NET ASSETS

4,409,965

3,851,213

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

4,409,964

3,851,212

SHAREHOLDERS' FUNDS

4,409,965

3,851,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2026 and were signed on its behalf by:

G Cinque - Director

1.	STATUTORY INFORMATION

Kandou Bus 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

Straight line over 5 years

Fixtures and fittings

-

Straight line over 5 years

Computer equipment

-

Straight line over 5 years

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern

The financial statements have been prepared on a going concern basis as the parent undertaking, Kandou Bus SA, has agreed to provide such financial support as may be necessary in order to enable the company to meet it's financial obligations as they fall due in the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2024 - 66 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2025

1,244,292

620

32,429

1,277,341

Additions

15,312

-

-

15,312

Disposals

(36,454

)

-

-

(36,454

)

At 31 December 2025

1,223,150

620

32,429

1,256,199

DEPRECIATION

At 1 January 2025

511,677

620

22,534

534,831

Charge for year

256,072

-

2,959

259,031

Eliminated on disposal

(30,563

)

-

-

(30,563

)

At 31 December 2025

737,186

620

25,493

763,299

NET BOOK VALUE

At 31 December 2025

485,964

-

6,936

492,900

At 31 December 2024

732,615

-

9,895

742,510

5.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Other debtors

890,136

1,668,585

Amounts falling due after more than one year:

Amounts owed by group undertakings

3,715,810

1,370,986

Aggregate amounts

4,605,946

3,039,571

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

2,822

Trade creditors

36,665

154,636

Taxation and social security

333,334

133,047

Other creditors

315,627

337,245

685,626

627,750

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

55,964

38,000

Between one and five years

6,333

9,500

62,297

47,500

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Kandou Bus SA (Switzerland).

The ultimate controlling party is Kandou Bus Holdings SA (Switzerland).

The smallest and largest group for which group accounts are prepared, which include the company, is Kandou Bus Holdings SA. Copies of the group accounts can be obtained from the registered office at Building 1,EPFL Innovation Park, 1015 Lausanne, Switzerland.