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REGISTERED NUMBER: 12234041 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ERICSSON AUTOMOBILE (UK) LTD

ERICSSON AUTOMOBILE (UK) LTD (REGISTERED NUMBER: 12234041)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ERICSSON AUTOMOBILE (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr D W Cotterell
Mr L O O Eriksson
Mrs U M Axius





REGISTERED OFFICE: Arrowsmith Court
Station Approach
Broadstone
Dorset
BH18 8AT





REGISTERED NUMBER: 12234041 (England and Wales)





ACCOUNTANTS: Newton Magnus
Chartered Certified Accountants
Arrowsmith Court
Station Approach
Broadstone
Dorset
BH18 8AT

ERICSSON AUTOMOBILE (UK) LTD (REGISTERED NUMBER: 12234041)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 3,001 -
Tangible assets 5 9,496 8,083
12,497 8,083

CURRENT ASSETS
Debtors 6 27,751 20,545
Cash at bank 19,286 9,404
47,037 29,949
CREDITORS
Amounts falling due within one year 7 (599,933 ) (360,264 )
NET CURRENT LIABILITIES (552,896 ) (330,315 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(540,399

)

(322,232

)

CREDITORS
Amounts falling due after more than
one year

8

(34,520

)

(47,020

)
NET LIABILITIES (574,919 ) (369,252 )

ERICSSON AUTOMOBILE (UK) LTD (REGISTERED NUMBER: 12234041)

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (584,919 ) (379,252 )
SHAREHOLDERS' FUNDS (574,919 ) (369,252 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 30 April 2024 and were signed on its behalf by:





Mr L O O Eriksson - Director


ERICSSON AUTOMOBILE (UK) LTD (REGISTERED NUMBER: 12234041)

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

1. STATUTORY INFORMATION

Ericsson Automobile (Uk) 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 represents the value of goods and services supplied by the company during the year, excluding value added tax.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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

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 balance sheet date.


ERICSSON AUTOMOBILE (UK) LTD (REGISTERED NUMBER: 12234041)

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

2. ACCOUNTING POLICIES - continued
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 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 3 ).

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
Additions 3,335
At 31 March 2023 3,335
AMORTISATION
Amortisation for year 334
At 31 March 2023 334
NET BOOK VALUE
At 31 March 2023 3,001

ERICSSON AUTOMOBILE (UK) LTD (REGISTERED NUMBER: 12234041)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 8,058 3,034 - 11,092
Additions 289 - 2,615 2,904
At 31 March 2023 8,347 3,034 2,615 13,996
DEPRECIATION
At 1 April 2022 2,187 822 - 3,009
Charge for year 616 221 654 1,491
At 31 March 2023 2,803 1,043 654 4,500
NET BOOK VALUE
At 31 March 2023 5,544 1,991 1,961 9,496
At 31 March 2022 5,871 2,212 - 8,083

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 340
Other debtors 27,751 20,205
27,751 20,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,250 -
Trade creditors 112,224 23,186
Other creditors 481,459 337,078
599,933 360,264

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 34,520 47,020

ERICSSON AUTOMOBILE (UK) LTD (REGISTERED NUMBER: 12234041)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr L O O Eriksson
Balance outstanding at start of year - -
Amounts repaid (117 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (117 ) -

10. RELATED PARTY DISCLOSURES

At the balance sheet date there is an outstanding loan of £270,171 (March 2022: £201,632) due to Ericsson Automobile Holdings Ltd presented within other creditors

At the balance sheet date there is an outstanding loan of £201,053 (March 2022: £Nil) due to Ericsson Automobile SA presented within other creditors