Company Registration No. SC530280 (Scotland)
Consilium Micropack Limited
Financial statements
for the year ended 31 December 2023
Pages for filing with the registrar
Consilium Micropack Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
Consilium Micropack Limited
Statement of financial position
As at 31 December 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
17,479,209
17,479,209
Current assets
Debtors
6
910,057
16,000
Cash at bank and in hand
3,356
75
913,413
16,075
Creditors: amounts falling due within one year
7
(23,654,542)
(22,164,260)
Net current liabilities
(22,741,129)
(22,148,185)
Net liabilities
(5,261,920)
(4,668,976)
Capital and reserves
Called up share capital
8
1,060
1,060
Profit and loss reserves
(5,262,980)
(4,670,036)
Total equity
(5,261,920)
(4,668,976)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
Graham Duncan
Director
Company Registration No. SC530280
Consilium Micropack Limited
Statement of changes in equity
For the year ended 31 December 2023
2
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
1,060
(3,248,232)
(3,247,172)
Year ended 31 December 2022:
Loss and total comprehensive income
-
(1,421,804)
(1,421,804)
Balance at 31 December 2022
1,060
(4,670,036)
(4,668,976)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(592,944)
(592,944)
Balance at 31 December 2023
1,060
(5,262,980)
(5,261,920)
Consilium Micropack Limited
Notes to the financial statements
For the year ended 31 December 2023
3
1
Accounting policies
Company information

Consilium Micropack Limited is a private company limited by shares in the UK and incorporated in Scotland. The registered office is Blackwood House, Union Grove Lane, Aberdeen, AB10 6XU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Consilium Micropack Limited is a wholly owned subsidiary of Consilium Safety Group AB. and the results of Consilium Micropack Limited are included in the financial statements of Consilium Safety Group AB.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Consilium Micropack Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
4
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

 

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Consilium Micropack Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
5
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
6,000
6,250
Consilium Micropack Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
6
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
17,479,209
17,479,209
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Indirect
Micropack (Engineering) Limited
1
Ordinary
100
-
Micropack (Detection) (Americas) Inc
2
Ordinary
0
100

Registered office addresses (all UK unless otherwise indicated):

1
Fire Training Centre, Schoolhill, Portlethen, Aberdeen, Kincardine, Scotland, AB12 4RR
2
USA
Consilium Micropack Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
7
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
387
-
0
Deferred tax asset
-
0
13,000
387
13,000
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
909,670
3,000
Total debtors
910,057
16,000
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
60,854
1,902,566
Amounts owed to group undertakings
23,576,588
16,750,140
Other creditors
17,100
3,511,554
23,654,542
22,164,260
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1,060
1,060
1,060
1,060

The company has an Ordinary class of shares which have full rights in the company with respect to voting, dividends and distributions.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Mark Brown BA CA.
The auditor was MHA.
Consilium Micropack Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
8
10
Parent company

The company's ultimate parent company is Consilium Safety Group AB., a company registered in Sweden. The address of the parent company's headquarters is Salsmästaregatan 21, SE-422 46, Gothenburg, Sweden.

 

The ultimate controlling party of the company is Nordic Capital IX Limited, a company registered in Jersey.

 

The company's financial statements are included in the consolidated group accounts of Consilium Safety Group AB.

 

11
Non-audit services provided by auditor

In common with many businesses of our size we use our auditor to prepare and submit returns to the tax authorities.

2023-12-312023-01-01false27 February 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedGraham DuncanThobias  ErnfridssonThomas FogelbergGary  BoydBlackwood Partners LLPfalsefalseSC5302802023-01-012023-12-31SC5302802023-12-31SC5302802022-12-31SC530280core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-31SC530280core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-31SC530280core:CurrentFinancialInstruments2023-12-31SC530280core:CurrentFinancialInstruments2022-12-31SC530280core:ShareCapital2023-12-31SC530280core:ShareCapital2022-12-31SC530280core:RetainedEarningsAccumulatedLosses2023-12-31SC530280core:RetainedEarningsAccumulatedLosses2022-12-31SC530280core:ShareCapital2021-12-31SC530280core:RetainedEarningsAccumulatedLosses2021-12-31SC530280bus:Director12023-01-012023-12-31SC530280core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31SC5302802022-01-012022-12-31SC530280core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31SC530280core:Subsidiary12023-01-012023-12-31SC530280core:Subsidiary22023-01-012023-12-31SC53028012023-01-012023-12-31SC53028022023-01-012023-12-31SC530280core:Non-currentFinancialInstruments2023-12-31SC530280core:Non-currentFinancialInstruments2022-12-31SC530280bus:PrivateLimitedCompanyLtd2023-01-012023-12-31SC530280bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC530280bus:FRS1022023-01-012023-12-31SC530280bus:Audited2023-01-012023-12-31SC530280bus:Director22023-01-012023-12-31SC530280bus:Director32023-01-012023-12-31SC530280bus:Director42023-01-012023-12-31SC530280bus:CompanySecretary12023-01-012023-12-31SC530280bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP