Company No: 04607181 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	24,097		34,807
Tangible assets	4	668,514		672,366
		692,611		707,173
Current assets
Debtors	5	325,548		816,482
Cash at bank and in hand		810,807		193,874
		1,136,355		1,010,356
Creditors: amounts falling due within one year	6	( 688,858)		( 607,845)
Net current assets		447,497		402,511
Total assets less current liabilities		1,140,108		1,109,684
Creditors: amounts falling due after more than one year	7	( 24,971)		( 124,675)
Provision for liabilities		( 146,469)		( 143,861)
Net assets		968,668		841,148
Capital and reserves
Called-up share capital	8	2		2
Profit and loss account		968,666		841,146
Total shareholder's funds		968,668		841,148

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Alfred H Knight Mineral Processing UK Limited (registered number: 04607181) were approved and authorised for issue by the Board of Directors on 25 November 2025. They were signed on its behalf by:

Mr I A Baxter Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alfred H Knight Mineral Processing UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Tresillian Business Park, Tresillian, Truro, Cornwall, TR2 4HF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The Company was acquired by a non-small group on 25 October 2024 and therefore has required an audit for the year ended 31 March 2025. The comparative figures are unaudited.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and he 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the high amount that is more likely than not be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Fixtures and fittings	10 - 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the short of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	18		17

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	42,840		42,840
At 31 March 2025	42,840		42,840
Accumulated amortisation
At 01 April 2024	8,033		8,033
Charge for the financial year	10,710		10,710
At 31 March 2025	18,743		18,743
Net book value
At 31 March 2025	24,097		24,097
At 31 March 2024	34,807		34,807

4. Tangible assets

	Land and buildings		Fixtures and fittings		Total
	£		£		£
Cost
At 01 April 2024	299,024		917,145		1,216,169
Additions	0		116,936		116,936
Disposals	0		( 43,593)		( 43,593)
At 31 March 2025	299,024		990,488		1,289,512
Accumulated depreciation
At 01 April 2024	190,371		353,432		543,803
Charge for the financial year	30,692		65,871		96,563
Disposals	0		( 19,368)		( 19,368)
At 31 March 2025	221,063		399,935		620,998
Net book value
At 31 March 2025	77,961		590,553		668,514
At 31 March 2024	108,653		563,713		672,366

Land and buildings above consists of leasehold improvements.

5. Debtors

	2025		2024
	£		£
Trade debtors	219,498		617,354
Other debtors	106,050		199,128
	325,548		816,482

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		45,455
Trade creditors	123,507		57,718
Amounts owed to Group undertakings	116,827		0
Other loans	16,198		41,272
Accruals and deferred income	293,985		249,858
Taxation and social security	114,348		190,832
Obligations under finance leases and hire purchase contracts	16,636		16,636
Other creditors	7,357		6,074
	688,858		607,845

The obligations under hire purchase contracts are secured on the assets to which they relate.
The other loan is denominated in £ with a nominal interest rate of 5% and the final instalment is due on 29 September 2025. The carrying amount is £16,198 (2024 - £41,272).

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		56,818
Obligations under finance leases and hire purchase contracts	20,796		37,432
Other creditors	4,175		30,425
	24,971		124,675

The obligations under hire purchase contracts are secured on the assets to which they relate.
The other loan is denominated in £ with a nominal interest rate of 5% and the final instalment is due on 29 September 2025. The carrying amount is £nil (2024 - £nil).

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

9. Financial commitments

Other financial commitments

Amounts not provided in the balance sheet.
The total amount of financial commitments not included in the balance sheet is £589,527 (2024 - £19,428). Financial commitments relate to leases on the company's trading premises which were renewed in the year to 31 March 2025 and a motor vehicle.
The leases are payable over 5 years.

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
S J Abraham	0		9,000
N Wilshaw	0		29,580
F Wilshaw	0		29,580

At the balance sheet date the company was owed amounts from the directors as set out above (2024 - amounts owed from directors). These balances represent the maximum balances advanced during the year and were repaid as part of the acquisition of the Company by Alfred H. Knight Holdings Limited on 25 October 2024. Interest at 2.25% was charged on these loans.

Other related party transactions

The company is a wholly owned subsidiary of Alfred H. Knight Holdings Limited at the year end and has taken advantage of the available exemption under FRS102 S.33 not to disclose transactions with wholly owned group members.

11. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 March 2025 was unqualified.

The audit report was signed by Nicola Cornish BSc BFP FCA CTA on behalf of Francis Clark LLP, Chartered Accountants on 25 November 2025.

12. Ultimate controlling party

Parent Company:

The Company was ultimately controlled by the Directors of Alfred H Knight UK Holdings Limited, D J L Knight (who was also a Director of this Company) and R K Knight, and G Gillett who collectively controlled the whole of Alfred H. Knight Holdings Limited's issued ordinary share capital.

The address of the company is Alfred H. Knight Group Headquarters (UK), Kings Business Park, Kings Drive, Prescot, England, L34 1PJ