REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 December 2023 |
for |
EGLO UK LIMITED |
REGISTERED NUMBER: |
Audited Financial Statements for the Year Ended 31 December 2023 |
for |
EGLO UK LIMITED |
EGLO UK LIMITED (REGISTERED NUMBER: 04314239) |
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 |
EGLO UK LIMITED |
Company Information |
for the year ended 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
155 Wellingborough Road |
Rushden |
Northamptonshire |
NN10 9TB |
EGLO UK LIMITED (REGISTERED NUMBER: 04314239) |
Balance Sheet |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
EGLO UK LIMITED (REGISTERED NUMBER: 04314239) |
Notes to the Financial Statements |
for the year ended 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Eglo UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of 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. |
Tangible fixed assets |
Fixtures and equipment are held at cost less accumulated depreciation and any recognised provision for impairment. Cost includes the purchase price of the asset and the costs attributable to bringing the asset to its working condition and its intended use. |
Depreciation is calculated to write down the cost of the assets to their residual values, on a straight-line basis, using the following rates: |
-Fixtures and equipment - 3 years, or over the lease term |
Capital work in progress is not depreciated. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. |
Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing |
stock to its present location and condition. |
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 and investments in non-puttable ordinary shares. |
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. |
EGLO UK LIMITED (REGISTERED NUMBER: 04314239) |
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 |
Functional and presentational currency |
The Company's functional and presentational currency is GBP. |
Transactions and balances |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern. |
Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities. |
In addition, the Company's assets are assessed for recoverability on a regular basis, and the Directors consider that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis. |
The Directors are therefore satisfied and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. These financial statements have therefore been prepared on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
EGLO UK LIMITED (REGISTERED NUMBER: 04314239) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Assets in | and |
progress | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
At 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. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
EGLO UK LIMITED (REGISTERED NUMBER: 04314239) |
Notes to the Financial Statements - continued |
for the year ended 31 DECEMBER 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 750,000 | 750,000 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | CAPITAL COMMITMENTS |
2023 | 2022 |
£ | £ |
Contracted but not provided for in the |
financial statements |
11. | RELATED PARTY DISCLOSURES |
The Company has taken advantage of the provisions available under section 33.1A of FRS 102 section 1A not to report transactions with wholly owned group members. |
12. | ULTIMATE CONTROLLING PARTY |
Eglo Leuchten GmbH, a company incorporated and registered in Austria, is the parent company of the smallest group for which consolidated financial statements are prepared. The parent company's registered office is Heiligkreuz 22, 6136 Pill, Austria. |