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REGISTERED NUMBER: 14177276 (England and Wales)















Unaudited Financial Statements

for the Period 16 June 2022 to 31 December 2022

for

Elecon UK Holdings Ltd

Elecon UK Holdings Ltd (Registered number: 14177276)






Contents of the Financial Statements
for the Period 16 June 2022 to 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elecon UK Holdings Ltd

Company Information
for the Period 16 June 2022 to 31 December 2022







DIRECTORS: W F Dyke
N E Harper
P J Mettam
S P Searle
S P Synnott





REGISTERED OFFICE: 130 Bournemouth Road
Chandler's Ford
Southampton
Hampshire
SO53 3AL





REGISTERED NUMBER: 14177276 (England and Wales)





ACCOUNTANTS: CBM Accountants Limited
130 Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire
SO53 3AL

Elecon UK Holdings Ltd (Registered number: 14177276)

Balance Sheet
31 December 2022

Notes £    £   
FIXED ASSETS
Intangible assets 4 4,350,680
Investments 5 1,731,387
6,082,067

CURRENT ASSETS
Debtors 6 127,100
Cash at bank 301
127,401
CREDITORS
Amounts falling due within one year 7 1,591,057
NET CURRENT LIABILITIES (1,463,656 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,618,411

CREDITORS
Amounts falling due after more than one
year

8

4,617,411
NET ASSETS 1,000

CAPITAL AND RESERVES
Called up share capital 9 1,000
SHAREHOLDERS' FUNDS 1,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 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.

Elecon UK Holdings Ltd (Registered number: 14177276)

Balance Sheet - continued
31 December 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:




S P Searle - Director



S P Synnott - Director


Elecon UK Holdings Ltd (Registered number: 14177276)

Notes to the Financial Statements
for the Period 16 June 2022 to 31 December 2022

1. STATUTORY INFORMATION

Elecon UK Holdings Ltd 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of twenty years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the period 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 period 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

Elecon UK Holdings Ltd (Registered number: 14177276)

Notes to the Financial Statements - continued
for the Period 16 June 2022 to 31 December 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 4,406,598
At 31 December 2022 4,406,598
AMORTISATION
Amortisation for period 55,918
At 31 December 2022 55,918
NET BOOK VALUE
At 31 December 2022 4,350,680

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
Additions 1,731,387
At 31 December 2022 1,731,387
NET BOOK VALUE
At 31 December 2022 1,731,387

During the year the company acquired the entire share capital of Elecon UK Limited for a total consideration of £6,137,985.

The fair value of the assets acquired was £1,731,387 and the balance has been treated as Goodwill and is being amortised over 20 years.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 127,100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 197,435
Amounts owed to group undertakings 1,234,476
Other creditors 159,146
1,591,057

Elecon UK Holdings Ltd (Registered number: 14177276)

Notes to the Financial Statements - continued
for the Period 16 June 2022 to 31 December 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 902,875
Other creditors 3,714,536
4,617,411

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 3,714,536

Other creditors represent the Loan notes issued in respect of the purchase of the company, Elecon UK Limited.
The loan notes are repayable after 5 years and interest is accruing on the loan notes at 2% above the bank base rate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1,000 Ordinary £1 1,000

1,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.