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REGISTERED NUMBER: 11859425 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

Samsoe & Samsoe Beak Street Limited

Samsoe & Samsoe Beak Street Limited (Registered number: 11859425)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Samsoe & Samsoe Beak Street Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P U Andersen
P S Rasmussen





REGISTERED OFFICE: 47 Beak Street
London
W1F 9SE





REGISTERED NUMBER: 11859425 (England and Wales)





AUDITORS: Try Lunn & Co
Chartered Accountants
and Statutory Auditors
Roland House
Princes Dock Street
HULL HU1 2LD

Samsoe & Samsoe Beak Street Limited (Registered number: 11859425)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,257 89,481

CURRENT ASSETS
Stocks 123,246 134,996
Debtors 5 106,915 77,586
Cash at bank and in hand 76,678 61,089
306,839 273,671
CREDITORS
Amounts falling due within one year 6 909,367 722,754
NET CURRENT LIABILITIES (602,528 ) (449,083 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(556,271

)

(359,602

)

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (556,272 ) (359,603 )
SHAREHOLDERS' FUNDS (556,271 ) (359,602 )

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 19 August 2024 and were signed on its behalf by:





P S Rasmussen - Director


Samsoe & Samsoe Beak Street Limited (Registered number: 11859425)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Samsoe & Samsoe Beak Street 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.

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.

Given the support of the ultimate parent company Samsoe & Samsoe Holdings A/S the directors have prepared the financial statements on the going concern basis. The directors have obtained confirmation from Samsoe & Samsoe Holdings A/S that they will continue to support the company through its existing facilities for the foreseeable future and for at least the next 12 months.

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

Turnover from the sale of goods is recognised when goods are delivered and the legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the lease terms
Plant and machinery etc - 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct purchase costs less any discounts received are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and losses of stocks are recognised as an expense in the period in which the write-down or loss occurs.

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.


Samsoe & Samsoe Beak Street Limited (Registered number: 11859425)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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.

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 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 48,013 193,248 241,261
DEPRECIATION
At 1 January 2023 17,604 134,176 151,780
Charge for year 4,802 38,422 43,224
At 31 December 2023 22,406 172,598 195,004
NET BOOK VALUE
At 31 December 2023 25,607 20,650 46,257
At 31 December 2022 30,409 59,072 89,481

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,422 15,534
Other debtors 92,493 62,052
106,915 77,586

Samsoe & Samsoe Beak Street Limited (Registered number: 11859425)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,831 6,743
Amounts owed to group undertakings 838,095 678,490
Taxation and social security 1,983 -
Other creditors 56,458 37,521
909,367 722,754

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 170,000 170,000
Between one and five years 680,000 680,000
In more than five years 42,500 212,500
892,500 1,062,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

At 1 January 2023 (359,603 )
Deficit for the year (196,669 )
At 31 December 2023 (556,272 )

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

The Report of the Auditors was unqualified.

Simon Moss FCCA (Senior Statutory Auditor)
for and on behalf of Try Lunn & Co

Samsoe & Samsoe Beak Street Limited (Registered number: 11859425)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. RELATED PARTY DISCLOSURES

During the year £159,605 (2022: £128,467) was loaned to the company by Samsoe & Samsoe Holdings A/S, a group company registered in Denmark.

During the year interest of £16,669 (2022: £12,890) has been accrued in respect of the above loan. This is calculated at a market rate of interest.

At 31 December 2023 £838,095 (2022: £678,490) was owed to Samsoe & Samsoe Holdings A/S.

During the year the company purchased goods & services, at arms length, amounting to £nil (2022: £251,467) from Samsoe & Samsoe Wholesale ApS, a fellow group company.

During the year the company purchased goods amounting to £283,122 (2022 £178,018) from Samsoe & Samsoe UK Limited, its immediate parent company. At 31 December 2023 £nil (2022: £nil) was owed from Samsoe & Samsoe UK Limited

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Samsoe & Samsoe UK Limited as they own 100% of the issued share capital.

The ultimate parent company is P & P Holdings A/S, consolidated accounts are available from Ryesgade 19C, 2200 Kobenhav N.

The company is ultimately controlled by Mr P Rasmussen.