REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
UK LANYARD MAKERS LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
UK LANYARD MAKERS LTD |
UK LANYARD MAKERS LTD (REGISTERED NUMBER: 09153094) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
UK LANYARD MAKERS LTD |
COMPANY INFORMATION |
For The Year Ended 31 December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
UK LANYARD MAKERS LTD (REGISTERED NUMBER: 09153094) |
BALANCE SHEET |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital redemption reserve |
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 |
UK LANYARD MAKERS LTD (REGISTERED NUMBER: 09153094) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
UK Lanyard Makers Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Related party exemption |
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 subsidiaries within the group. |
Turnover |
Turnover represents the supply of lanyards, fabric wristbands and printed ribbon, excluding value added tax, sold during the year. |
Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - | 25% reducing balance |
Equipment, fixtures and fittings | - | 25% on cost |
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, including costs to bring stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
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 represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
Current and deferred tax assets and liabilities are not discounted and are 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. |
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. |
UK LANYARD MAKERS LTD (REGISTERED NUMBER: 09153094) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operated a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate. |
Company contributions payable to the directors' private pension schemes are charged to the profit and loss account in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
UK LANYARD MAKERS LTD (REGISTERED NUMBER: 09153094) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
Accruals and deferred income |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
- | Ordinary A | £1 | - | 25 |
25 | Ordinary B | £1 | 25 | 25 |
- | Ordinary C | £1 | - | 25 |
25 | Ordinary D | £1 | 25 | 25 |
50 | 100 |
During the year, the company completed a company purchase of own shares transaction for 25 Ordinary A and 25 Ordinary C £1 shares at a premium of £17,399 per share. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
Due to its acquisition by Teqnion AB, the company is now required to have its financial statements audited for the first time. Therefore the comparative figures, for the year ended 31 December 2023, are unaudited.As this is the first year that the company has had its financial statements audited, we are required to ensure that the opening position has not been materially misstated. We have not been able to obtain all information and explanations required to support all of the opening balances and therefore we have been unable to conclude that the opening position has not been materially misstated. We have not identified any material misstatements with the closing position. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
for and on behalf of |
UK LANYARD MAKERS LTD (REGISTERED NUMBER: 09153094) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2024 |
11. | RELATED PARTY DISCLOSURES |
The amounts due to group undertakings at the year end was as follows: |
2024 | 2023 |
£ | £ |
Teqnion AB | 20,000 | - |
20,000 | - |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
The company's ultimate parent undertaking, the parent undertaking of the largest group of which the company is a member and for which group financial statements are prepared, is Teqnion AB, a company incorporated in Sweden. The registered office and principle place of business of the company is Dalvägen 14, 169 56 Solna, Sweden |