KERAKOLL_U.K._LIMITED - Accounts

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Kerakoll U.K. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 The Croft, Buntsford Gate Business Park, Bromsgrove, B60 4JE.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

During the prior year the company's trade and assets were hived up into it's fellow subsidiary Tilemaster Adhesives Limited after which the company has ceased trading, remaining dormant other than a dividend it declared in the year.

Therefore the directors have concluded that it is no longer appropriate to prepare the accounts on a going concern basis. There have been no adjustments made to the financial statements as a result of the application of the non-going concern basis of accounting.

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, 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.

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.

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.

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

The current used for the authorised and issued share capital of the company the Euro (€) and the presentation currency of the financial statements is the pound sterling (£). At the date of issue the 730,000 ordinary €5 shares were valued at £2,989,935 using an average exchange rate of €1.2040 over the various share issues from this and prior years.

On 15 January 2021 the company filed documentation for a share capital reduction at Companies House. This has the effect of reducing the issued share capital from £2,989,935 to £5 and eliminating the retained losses.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Emphasis of matter

We draw attention to accounting policy note 1.2 which describes the preparation of the financial statements on a non-going concern basis. As described in the accounting policies, the trade and assets and liabilities of the company were transferred to another group company in the prior year and the directors have concluded that it is no longer appropriate to prepare the accounts on a going concern basis.

There have been no adjustments made to the financial statements as a result of the application of the non-going concern basis of accounting.

Our opinion is not modified in respect of this matter.

The company has taken advantage of the exemption permitted under Section 1AC.35 from disclosing transactions with the parent and fellow subsidiary companies.

The parent company is Kerakoll S.p.a, and the ultimate parent company is Fin-Firel S.p.a, both incorporated in Italy.

Fin-Firel S.p.a is owned and controlled by Fabio and Emilia Sghedoni, who are considered to be the ultimate controlling party.

The parent undertaking of the largest and smallest group for which Group accounts are prepared is Fin-Firel S.p.a and are available from Camera di Modena, Via Canaletto 80, 41100 Modena, Italy.