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REGISTERED NUMBER: 02225162 (England and Wales)











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: J Bricio Garcia
F Gallego Cruz



SECRETARY: V N Bayarri



REGISTERED OFFICE: Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW



REGISTERED NUMBER: 02225162 (England and Wales)



AUDITORS: UHY Calvert Smith LLP
Statutory Auditor
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW



BANKERS: Santander UK Plc
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 275,374 314,915
Debtors 5 62,816 71,023
Cash at bank 26,613 46,641
364,803 432,579
CREDITORS
Amounts falling due within one year 6 332,835 246,424
NET CURRENT ASSETS 31,968 186,155
TOTAL ASSETS LESS CURRENT LIABILITIES 31,968 186,155

CREDITORS
Amounts falling due after more than one
year

7

14,167

24,167
NET ASSETS 17,801 161,988

CAPITAL AND RESERVES
Called up share capital 4,000,000 4,000,000
Retained earnings (3,982,199 ) (3,838,012 )
SHAREHOLDERS' FUNDS 17,801 161,988

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 16 October 2024 and were signed on its behalf by:




F Gallego Cruz - Director



J Bricio Garcia - Director


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 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.

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

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 4 (2022 - 3 ) .

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 370,011
Disposals (85,452 )
At 31 December 2023 284,559
DEPRECIATION
At 1 January 2023 370,011
Eliminated on disposal (85,452 )
At 31 December 2023 284,559
NET BOOK VALUE
At 31 December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 62,816 71,023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 207,898 154,502
Taxation and social security 10,608 30,654
Other creditors 104,329 51,268
332,835 246,424

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,167 24,167

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

The Report of the Auditors was unqualified.

Harry Howley ACA MAAT (Senior Statutory Auditor)
for and on behalf of UHY Calvert Smith LLP

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.