REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Samsoe & Samsoe UK Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
Samsoe & Samsoe UK Limited |
Samsoe & Samsoe UK Limited (Registered number: 11099074) |
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 UK Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
Roland House |
Princes Dock Street |
HULL HU1 2LD |
Samsoe & Samsoe UK Limited (Registered number: 11099074) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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 |
Samsoe & Samsoe UK Limited (Registered number: 11099074) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Samsoe & Samsoe UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company is reliant on the operational support of Samsoe & Samsoe Holdings AS. 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. On this basis the financial statements have been prepared on the going concern basis. |
Preparation of consolidated financial statements |
The financial statements contain information about Samsoe & Samsoe 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. |
Turnover |
Turnover comprises revenue recognised by the company in respect of goods supplied during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised on transfer of the goods in accordance with the company's terms of sale. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stock comprises of wholesale samples which are impaired by 50%, being the net realisable value. When the samples are no longer required they will be sold at a significant discount. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Samsoe & Samsoe UK Limited (Registered number: 11099074) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | and | Computer |
improvements | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 47 Beak Street, London, W1F 9SE |
Nature of business: |
% |
Class of shares: | holding |
Registered office: No.1 London Bridge,London,SE1 9BG |
Nature of business: |
% |
Class of shares: | holding |
Samsoe & Samsoe UK Limited (Registered number: 11099074) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary share capital | £1 | 1 | 1 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 |
Profit for the year |
At 31 December 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Samsoe & Samsoe UK Limited (Registered number: 11099074) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | RELATED PARTY DISCLOSURES |
At 31 December 2023 £95,513 (2022: £199,775) was owed to the parent company Samsoe & Samsoe Holdings A/S. Interest is being accrued and amounted to £2,157 (2022: £9,240) during the year. The interest is being calculated at a market rate of interest. |
During the year the company purchased goods & services amounting to £760,057 (2022: £650,557) and paid management charges and royalty payments of £560,362 (2022: £523,106) to Samsoe & Samsoe Wholesale ApS, a company also under the control of Samsoe & Samsoe Holdings A/S. These transactions were at arms length. |
At 31 December 2023 £nil (2022: £32,596) was owed from Samsoe & Samsoe Wholesale ApS. This amount is interest free and repayable on demand. |
During the year the company sold goods amounting to £283,122 (2022: £178,018) to Samsoe & Samsoe Beak Street Limited, a 100% subsidiary. At 31 December 2023 £nil (2022: £nil) was owed to the company by its subsidiary. |
12. | ULTIMATE CONTROLLING PARTY |
The parent company is Samsoe & Samsoe Holdings A/S, a company registered in Denmark. |
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. |