ALLBATTERIES_U.K._LIMITED - Accounts

The directors declared a final dividend of £190,000 to be paid in the 2015 financial year.

Constantin were appointed auditors to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations, and in accordance with United Kingdom Generally Accepted Accounting Practice. 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: - select suitable accounting policies 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 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.

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:

- select suitable accounting policies 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 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.

So far as the directors are aware, there is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are unaware. Additionally, the directors have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company's auditors are aware of that information. This confirmation is given and should be interpreted in accordance with provision of Section 418 of the Companies Act 2006. In preparing the Directors' Report the director's have taken advantage of the exemptions allowed for small companies as set out in the Companies Act 2006.

This confirmation is given and should be interpreted in accordance with provision of Section 418 of the Companies Act 2006.

In preparing the Directors' Report the director's have taken advantage of the exemptions allowed for small companies as set out in the Companies Act 2006.

We have audited the financial statements of Allbatteries U.K. Limited for the year ended 31 December 2014 set out on pages 5 to 15. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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.

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.

Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised upon despatch of products.

During the year the company reclassified certain fixed assets as part of a review of its operations. As part of this review the depreciation policy has been updated and a more appropriate policy has been applied which is believed to give a more accurate reflection of their residual values. The effect of the change in policy is immaterial to the accounts and no restatement is therefore required.

The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or subsequently enacted by the balance sheet date.

Deferred taxation is recognised in respect of all material timing differences that have originated but not been reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing difference can be deducted.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of VDI SA, a company incorporated in France, and is included in the consolidated accounts of that company.

Outstanding year end pension balance £306 (2013 - £385).

There was also remuneration of £62,857 (2013 - £16,500) paid by another company and recharged to Allbatteries U.K. Limited.

The company’s immediate parent undertaking and controlling party is VDI Group, a company registered in France. VDI Group heads the smallest and largest group, in which the company is included, which prepares consolidated financial statements, which are available from their registered office; VDI Group, 11C rue des aulnes, BP 10020, 69542 Champagne au Mont d’Or cedex, France.

The ultimate parent undertaking and controlling party is BDR, a company registered in France.

In accordance with Financial Reporting Standard No.8, the company has taken advantage of the exemption for subsidiary undertakings, whose 100% of voting rights are controlled with in a group, from the requirement to disclose related party transactions.

During the year the company made the following related party transactions:

Heler SA

During the year, consultancy fees of €120,000 (2013 - €30,000) were paid by Allbatteries U.K. Limited to Heler SA, a company in which Damien Buffelard (a director) has an interest. The amount due to Heler SA at the year end amounted to €nil (2013 - €nil).