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REGISTERED NUMBER: 07866497















EL-BJORN UK LIMITED

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,695 -
Tangible assets 5 590,256 486,321
Investments 6 6,164,111 6,164,111
6,772,062 6,650,432

CURRENT ASSETS
Stocks 658,026 293,713
Debtors 7 615,690 841,931
Cash at bank 170,617 82,083
1,444,333 1,217,727
CREDITORS
Amounts falling due within one year 8 4,421,695 3,369,834
NET CURRENT LIABILITIES (2,977,362 ) (2,152,107 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,794,700

4,498,325

CREDITORS
Amounts falling due after more than one
year

9

(2,909,425

)

(4,079,295

)

PROVISIONS FOR LIABILITIES (61,279 ) (60,844 )
NET ASSETS 823,996 358,186

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 823,995 358,185
823,996 358,186

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





M J Thomas - Director


EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

El-Bjorn UK Limited is a private company, limited by shares, registered in England. The registered office is
Unit 2 Oyster Park, Chertsey Road, West Byfleet, Surrey, England, KT14 7AX.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from the standard. The financial statements have been prepared under the historical cost convention.

Going concern
The company has net current liabilities of £2,977,362, however, £4,187,708 of this relates to intercompany balances owed to other group companies on which there are no terms attached. The group companies have confirmed the loans due will only be recalled when the company has sufficient cash reserves. The directors therefore consider the going concern basis is appropriate in these circumstances.

Preparation of consolidated financial statements
The financial statements contain information about El-Bjorn UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover
Turnover represents the invoice value of goods supplied and services rendered in the year, exclusive of value added tax. The company's policy is to recognise income when substantively all risks and rewards in connection with the goods and services have been passed to the buyer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 50% on cost, 25% on cost, 25% on reducing balance and 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of the value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Investments in subsidiaries
Investments represent shareholdings in unquoted subsidiary undertakings and are stated at cost less impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.


EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it to be more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates which would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals payable 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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 17,995
At 31 December 2023 17,995
AMORTISATION
Charge for year 300
At 31 December 2023 300
NET BOOK VALUE
At 31 December 2023 17,695

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 793,255
Additions 326,005
Disposals (45,532 )
At 31 December 2023 1,073,728
DEPRECIATION
At 1 January 2023 306,934
Charge for year 209,971
Eliminated on disposal (33,433 )
At 31 December 2023 483,472
NET BOOK VALUE
At 31 December 2023 590,256
At 31 December 2022 486,321

Included above is £94,175 (2022: £nil) carrying value of assets which the company has pledged as security.

EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 6,164,111
NET BOOK VALUE
At 31 December 2023 6,164,111
At 31 December 2022 6,164,111

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 552,609 776,376
Other debtors 63,081 65,555
615,690 841,931

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 56,754 -
Trade creditors 2,233,492 1,316,280
Amounts owed to group undertakings 1,977,482 1,898,881
Taxation and social security 115,372 107,025
Other creditors 38,595 47,648
4,421,695 3,369,834

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 42,532 -
Other creditors 2,866,893 4,079,295
2,909,425 4,079,295

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 99,286 -

Hire purchase agreements are secured against the assets to which the specific agreements relate.

EL-BJORN UK LIMITED (REGISTERED NUMBER: 07866497)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Elaine Dyer BA CA (Senior Statutory Auditor)
for and on behalf of Martin Aitken & Co Ltd

12. LEASE COMMITMENTS

The total amount of non-cancellable operating leases due at the balance sheet date amounted to £131,803 (2022: £188,513).

13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Connecting Capital Sweden AB.

The immediate parent undertaking is El-Bjorn AB and the parent undertaking which prepares group financial statements is United Power AB. The registered office of United Power AB is Wallingatan 2, 111 60 Stockholm, Sweden.