Registration number:
Lyvia UK Ltd
(formerly
for the Period from 17 January 2022
to 31 December 2022
Lyvia UK Ltd
Contents
Company Information |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Lyvia UK Ltd
Company Information
Director |
T S S Karlsson |
Registered office |
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Independent auditor |
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Lyvia UK Ltd
(Registration number: 13851474)
Statement of Financial Position as at 31 December 2022
Note |
2022 |
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Current assets |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Equity |
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Called up share capital |
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Retained earnings |
( |
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Shareholders' deficit |
( |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.
The financial statements of Lyvia UK Ltd were approved and authorised for issue by the
.........................................
Director
Lyvia UK Ltd
Statement of Changes in Equity
for the Period from 17 January 2022 to 31 December 2022
Share capital |
Retained earnings |
Total |
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Loss for the period |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
New share capital subscribed |
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- |
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At 31 December 2022 |
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( |
( |
Lyvia UK Ltd
Notes to the Financial Statements
for the Period from 17 January 2022 to 31 December 2022
General information |
Lyvia UK Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
The company was formerly known as Mirovia UK Ltd.
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.
Going concern
The director has considered the company’s financial position, liquidity and future performance together with financial projections for the company over the foreseeable future and has also reviewed the ongoing committed financial support from the company's parent undertaking and is confident this will be available for the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continues to adopt the going concern basis in preparing the company’s financial statements.
Lyvia UK Limited is reliant on the support of Lyvia Group AB (Publ) as the parent company which is committed to the UK market and has demonstrated its support through a letter of support.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Summary of disclosure exemptions
The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available from the requirement to present a statement of cash flows provided under paragraph 1A.7 of FRS 102 ' The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Lyvia UK Ltd
Notes to the Financial Statements
for the Period from 17 January 2022 to 31 December 2022 (continued)
2 |
Accounting policies (continued) |
Critical judgements and key sources of estimation uncertainties
There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.
Foreign currency transactions and balances
Taxation
The tax expenses for the period comprises current tax. Tax is recognised in the income statement, except that a change attributable to an item of income or expenses recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprises a bank current account which is subject to an insignificant risk of change in value.
Receivables
Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Payables
Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Lyvia UK Ltd
Notes to the Financial Statements
for the Period from 17 January 2022 to 31 December 2022 (continued)
2 |
Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
The company had no employees during the current.
Lyvia UK Ltd
Notes to the Financial Statements
for the Period from 17 January 2022 to 31 December 2022 (continued)
Taxation |
Tax charged/(credited) in the income statement
2022 |
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Current taxation |
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UK corporation tax |
- |
The tax on profit before tax for the period is the same as the standard rate of corporation tax in the UK of
The differences are reconciled below:
2022 |
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Loss before tax |
( |
Corporation tax at standard rate |
( |
Effect of tax losses |
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Total tax charge/(credit) |
- |
Receivables |
31 Dec 22 |
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Other receivables |
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Prepayments |
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Cash and cash equivalent |
31 Dec 22 |
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Cash at bank |
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Lyvia UK Ltd
Notes to the Financial Statements
for the Period from 17 January 2022 to 31 December 2022 (continued)
Payables |
31 Dec 22 |
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Due within one year |
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Trade payables |
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Amount due to immediate parent undertaking |
52,884 |
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The amount due to the immediate parent undertakings disclosed as falling within one year is unsecured, payable on demand and is non-interest bearing.
31 Dec 22 |
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Due after one year |
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Amount due to immediate parent undertaking |
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The amount due to immediate parent undertaking disclosed as falling after more than one year is unsecured and payable on demand no earlier than December 2027. An amount of £3,200,064 bears interest at SONIA 3M + 5% and an amount of SEK 4,466,849 bears interest at STIBOR 3M + 5%.
Share capital and reserves |
Allotted, called up and fully paid shares
31 Dec 22 |
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No. |
£ |
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1 |
The company has one class of share capital which carries no right to fixed income.
New shares allotted
During the period 100,000 ordinary shares having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.
Lyvia UK Ltd
Notes to the Financial Statements
for the Period from 17 January 2022 to 31 December 2022 (continued)
8 |
Share capital and reserves (continued) |
Reserves
The retained earnings reserves represents cumulative profit or losses net of dividends paid and other adjustments.
Related party transactions |
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities the not to disclose transactions with entities that are wholly owned members of the group.
There were no other related party transactions to disclose.
Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is
Events after the financial period |
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Audit report |