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REGISTERED NUMBER: 07851598 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Swedencare UK Ltd.

Swedencare UK Ltd. (Registered number: 07851598)






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


Swedencare UK Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Ms J Graflind
J E Leonard



REGISTERED OFFICE: Unit 1b, Park 26 Kingsmark Freeway
Oakenshaw
Bradford
West Yorkshire
BD12 7HW



REGISTERED NUMBER: 07851598 (England and Wales)



SENIOR STATUTORY AUDITOR: Christopher Langrick



AUDITORS: Langricks (Holmfirth) Limited Statutory Auditors
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

Swedencare UK Ltd. (Registered number: 07851598)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 16,645 13,020
Tangible assets 6 42,027 51,437
58,672 64,457

CURRENT ASSETS
Stocks 633,997 55,079
Debtors 7 653,078 605,286
Cash at bank 383,211 409,245
1,670,286 1,069,610
CREDITORS
Amounts falling due within one year 8 627,276 349,526
NET CURRENT ASSETS 1,043,010 720,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,101,682

784,541

PROVISIONS FOR LIABILITIES 10 8,305 7,607
NET ASSETS 1,093,377 776,934

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,093,277 776,834
SHAREHOLDERS' FUNDS 1,093,377 776,934

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





J E Leonard - Director


Swedencare UK Ltd. (Registered number: 07851598)

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

1. STATUTORY INFORMATION

Swedencare 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

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

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.

Project management is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% Straight line

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling priceless costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Swedencare UK Ltd. (Registered number: 07851598)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Swedencare UK Ltd. (Registered number: 07851598)

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

3. ACCOUNTING POLICIES - continued

Foreign currency translation
Functional and presentational currency
The Company's functional and presentational currency is GBP.

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Swedencare UK Ltd. (Registered number: 07851598)

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

3. ACCOUNTING POLICIES - continued

Creditors
Short term creditors are measured at the transaction price.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS


Project
management
£
COST
At 1 January 202358,835
Additions9,993
Reclassification17,765
At 31 December 202386,593

AMORTISATION
At 1 January 202345,815
Amortisation for year6,368
Reclassification17,765
At 31 December 202369,948
NET BOOK VALUE
At 31 December 202316,645
At 31 December 202213,020

Swedencare UK Ltd. (Registered number: 07851598)

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

6. TANGIBLE FIXED ASSETS


Plant &
Machinery

Fixtures & Fittings

Totals
£££
COST
At 1 January 20237,50082,31489,814
Additions-5,3055,305
Reclassification-(17,765)(17,765)
At 31 December 20237,50069,85477,354

AMORTISATION
At 1 January 202352137,85638,377
Amortisation for year1,25013,46514,715
Reclassification-(17,765)(17,765)
At 31 December 20231,77133,55635,327
NET BOOK VALUE
At 31 December 20235,72936,29842,027
At 31 December 20226,97944,45851,437

An adjustment has been made to reclassify an asset previously classified as a tangible fixed asset, as an intangible asset.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 602,746 585,252
Amounts owed by group undertakings 6,443 -
Prepayments and accrued income 43,889 20,034
653,078 605,286

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 300,816 22,991
Amounts owed to group undertakings 177,966 85,176
Tax 108,781 113,153
Social security and other taxes 10,940 9,242
VAT 10,610 100,503
Accruals and deferred income 18,163 18,461
627,276 349,526

Swedencare UK Ltd. (Registered number: 07851598)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 60,476 47,596
Between one and five years 140,778 132,681
201,254 180,277

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 8,305 7,607

Deferred
tax
£   
Balance at 1 January 2023 7,607
Utilised during year 698
Balance at 31 December 2023 8,305

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1.00 100 100

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

The Report of the Auditors was unqualified.

Christopher Langrick (Senior Statutory Auditor)
for and on behalf of Langricks (Holmfirth) Limited Statutory Auditors

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

14. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Swedencare AB which is the ultimate parent company, incorporated in Sweden.

The largest and smallest group in which the results of the company are consolidated is that headed by Swedencare AB. The consolidated accounts of Swedencare AB are available from its registered office: Medeon Science Park, Per Albin Hanssons vag 41, 205 12 Malmo, Sweden.