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REGISTERED NUMBER: 05127466 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2023

FOR

LODI UK LIMITED

LODI UK LIMITED (REGISTERED NUMBER: 05127466)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LODI UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTORS: R Simpson
R A Lockman





SECRETARY: Mrs E Simpson





REGISTERED OFFICE: Building 69
Third Avenue
Pensnett Trading Estate
Kingswinford
West Midlands
DY6 7FD





REGISTERED NUMBER: 05127466 (England and Wales)





AUDITORS: French Ludlam & Co Limited
Statutory Auditors and Accountants
Mountfield House
661 High Street
Kingswinford
West Midlands
DY6 8AL

LODI UK LIMITED (REGISTERED NUMBER: 05127466)

STATEMENT OF FINANCIAL POSITION
30TH SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,784 46,289

CURRENT ASSETS
Stocks 1,739,620 1,750,160
Debtors 5 1,040,011 1,267,745
Cash at bank and in hand 3,892,874 2,226,475
6,672,505 5,244,380
CREDITORS
Amounts falling due within one year 6 1,862,389 1,247,088
NET CURRENT ASSETS 4,810,116 3,997,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,865,900

4,043,581

PROVISIONS FOR LIABILITIES 13,946 8,795
NET ASSETS 4,851,954 4,034,786

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings 4,845,954 4,028,786
SHAREHOLDERS' FUNDS 4,851,954 4,034,786

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th December 2023 and were signed on its behalf by:





R Simpson - Director


LODI UK LIMITED (REGISTERED NUMBER: 05127466)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

1. STATUTORY INFORMATION

Lodi UK Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 fair value of the consideration received or relivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised on delivery of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


LODI UK LIMITED (REGISTERED NUMBER: 05127466)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2022 169,806
Additions 25,119
At 30th September 2023 194,925
DEPRECIATION
At 1st October 2022 123,517
Charge for year 15,624
At 30th September 2023 139,141
NET BOOK VALUE
At 30th September 2023 55,784
At 30th September 2022 46,289

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 920,751 1,154,942
Other debtors 119,260 112,803
1,040,011 1,267,745

Other debtors includes £30,919 that relates to an amount due from Mr A Lockman. Mr A Lockman is the ultimate controlling party as he is the majority shareholder of the parent company Lodi SAS.

This amount has been fully repaid in the current year.

LODI UK LIMITED (REGISTERED NUMBER: 05127466)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,061,955 539,717
Taxation and social security 453,014 360,733
Other creditors 347,420 346,638
1,862,389 1,247,088

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 173,961 134,614
Between one and five years 194,848 241,943
368,809 376,557

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

The Report of the Auditors was unqualified.

Stephen Barry Ludlam FCCA (Senior Statutory Auditor)
for and on behalf of French Ludlam & Co Limited

9. ULTIMATE CONTROLLING PARTY

The company is controlled by LODI SAS, a company incorporated in France and the ultimate controlling party is Mr A Lockman being the majority shareholder of LODI SAS.
Information about the group as a whole can be obtained from LODI SAS, Parc d'Activites des Quattre Routes, 35390 Le Grand Fougeray, France.