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Registration number: 11786022

Seebeck 162 Limited

Annual Report and Financial Statements

for the Year Ended 31 March 2024

 

Seebeck 162 Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 7

 

Seebeck 162 Limited

Company Information

Directors

D Gotts

R E M Stuart

L Lundkvist

P J Wigh

D W Plant

Registered office

Unit 1 Papworth Business Park
Stirling Way
Papworth Everard
Cambridgeshire
CB23 3GY

Independent Auditors

Shaw Gibbs (Audit) Limited
Statutory Auditor
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Seebeck 162 Limited

(Registration number: 11786022)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Non-current assets

 

Investments

4

2,180,217

2,180,217

Current assets

 

Receivables

5

70

70

Cash at bank and in hand

 

596

65

 

666

135

Payables: Amounts falling due within one year

6

(1,000)

-

Net current (liabilities)/assets

 

(334)

135

Net assets

 

2,179,883

2,180,352

Equity

 

Called up share capital

7

250,000

250,000

Retained earnings

1,929,883

1,930,352

Shareholders' funds

 

2,179,883

2,180,352

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

The financial statements of Seebeck 162 Limited were approved and authorised for issue by the Board on 6 November 2024 and signed on its behalf by:
 

.........................................

D Gotts
Director

 

Seebeck 162 Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024

1

General information

Seebeck 162 Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the company's financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Summary of disclosure exemptions

The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of its ultimate parent undertaking, Lagercrantz Group AB, which may be obtained from Vasagatan 11, Stockholm, SE111 20, Sweden. Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel.

Name of parent of group

These financial statements are consolidated in the financial statements of Lagercrantz AB.

The financial statements of Lagercrantz AB may be obtained from https://www.lagercrantz.com/en/financial-information.

 

Seebeck 162 Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Basis of exemption from preparing consolidated financial statements

The financial statements present information about the company as an individual undertaking and not about its group. The group of which this company is the parent qualifies as a small group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare consolidated accounts. .

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise bank current accounts that are subject to an insignificant risk of
change in value.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

 

Seebeck 162 Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investments

2024
£

2023
£

Investments in subsidiaries

2,180,217

2,180,217

Subsidiaries

£

Valuation

At 1 April 2023

2,180,217

Provision

Carrying amount

At 31 March 2024

2,180,217

At 31 March 2023

2,180,217

Details of subsidiary undertaking

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Supply Plus Limited

United Kingdom

Ordinary

100%

100%

Supply Plus (Ireland) Limited

Unit 3D North Point House, North Point Business Park, New Mallow Road, Cork, Ireland

Ireland

Ordinary

100%

100%

 

Seebeck 162 Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024 (continued)

5

Receivables

2024
£

2023
£

Income tax asset

70

70

70

70

6

Payables

Payables: amounts falling due within one year

2024
£

2023
£

Due within one year

Amounts due to group undertaking

1,000

-

Amounts due to group undertaking is due within one year, not interest bearing and repayable on demand.

7

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.01 each

25,000,000

250,000

25,000,000

250,000

         

The company has one class of share capital which carries no right to fixed income.

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

 

Seebeck 162 Limited

Notes to the Financial Statements
for the Year Ended 31 March 2024 (continued)

8

Parent and ultimate parent undertaking

The company's immediate parent is Lagercrantz UK Limited, incorporated and registered in the United Kingdom. The most senior parent entity producing publicly available financial statements is Lagercrantz Group AB.

The address of the the ultimate controlling party is Vasagatan 11, Stockholm, SE111 20, Sweden.

9

Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.

10

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 6 November 2024 was Ransford Agyei-Boamah, who signed for and on behalf of Shaw Gibbs (Audit) Limited.