REGISTERED NUMBER: |
LLADRO (UNITED KINGDOM) LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
REGISTERED NUMBER: |
LLADRO (UNITED KINGDOM) LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
LLADRO (UNITED KINGDOM) LTD (REGISTERED NUMBER: 02225162) |
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 | to | 6 |
LLADRO (UNITED KINGDOM) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
Heritage House |
Murton Way |
Osbaldwick |
York |
North Yorkshire |
YO19 5UW |
BANKERS: |
2 Triton Square |
Regent's Place |
London |
NW1 3AN |
LLADRO (UNITED KINGDOM) LTD (REGISTERED NUMBER: 02225162) |
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 |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
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 |
LLADRO (UNITED KINGDOM) LTD (REGISTERED NUMBER: 02225162) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Lladro (United Kingdom) Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company is the sale of porcelain figures through concessions within the UK. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The company is dependent on the support of its parent undertaking for the supply of stock for resale. The group continues to recognise the importance of the UK market, especially London, to the worldwide marketing of Lladro, and remains committed to the company. Additionally, should the company require it the parent undertaking would provide financial support by accepting delays in the intercompany payables. |
The directors have considered the company's financial position and trading projections and have a reasonable expectation that the company and its parent undertaking have adequate resources to continue to trade into the foreseeable future. The company therefore continues to adopt the going concern basis in preparing the financial statements. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable in the circumstances. |
There are considered to be no significant judgements or estimates made in the preparation of these financial statements which would have a material impact on the amounts recognised. |
Turnover |
Turnover represents amounts receivable by the company for the sale of goods and related shipping charges to external customers through its concessions, and for commission earned in connection with UK wholesale business supplied by the parent undertaking. |
Sales of goods are recognised net of VAT, discounts and returns. |
Retail sales through concessions are recognised when the product is sold to the customer. Commission is recognised on an accruals basis in relation to the connected sale made by the parent undertaking. |
Tangible fixed assets |
Plant and machinery etc | - |
LLADRO (UNITED KINGDOM) LTD (REGISTERED NUMBER: 02225162) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. |
Financial instruments |
All company financial assets and liabilities are classified as basic financial instruments, and are measured at amortised cost. |
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 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. |
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. |
Operating leases |
Operating lease rentals are recognised as an expense on a straight line basis over the lease term. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
LLADRO (UNITED KINGDOM) LTD (REGISTERED NUMBER: 02225162) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
LLADRO (UNITED KINGDOM) LTD (REGISTERED NUMBER: 02225162) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | 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 group undertakings. |
10. | ULTIMATE PARENT COMPANY |
The company's immediate parent undertaking is Lladro, S.A., a company incorporated in Spain. |
Consolidated financial statements can be obtained from Carretera Alboraya s/n, 46016 Tavernes Blanques, Valencia, Spain. |