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Registered number: 07866497









EL-BJORN UK LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
EL-BJORN UK LIMITED
REGISTERED NUMBER: 07866497

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
26,858
17,695

Tangible assets
 5 
403,096
590,256

Investments
 6 
6,164,111
6,164,111

  
6,594,065
6,772,062

Current assets
  

Stocks
 7 
797,939
658,026

Debtors: amounts falling due within one year
 8 
329,694
615,690

Cash at bank and in hand
 9 
188,886
170,617

  
1,316,519
1,444,333

Creditors: amounts falling due within one year
 10 
(3,704,857)
(4,421,695)

Net current liabilities
  
 
 
(2,388,338)
 
 
(2,977,362)

Total assets less current liabilities
  
4,205,727
3,794,700

Creditors: amounts falling due after more than one year
 11 
(3,041,311)
(2,909,425)

Provisions for liabilities
  

Deferred tax
 13 
(13,664)
(61,279)

  
 
 
(13,664)
 
 
(61,279)

Net assets
  
1,150,752
823,996


Capital and reserves
  

Called up share capital 
 14 
1
1

Profit and loss account
  
1,150,751
823,995

  
1,150,752
823,996


Page 1

 
EL-BJORN UK LIMITED
REGISTERED NUMBER: 07866497
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.




M J Thomas
Director

The notes on pages 3 to 14 form part of these financial statements.

Page 2

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

El-Bjorn UK Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit 2 Oyster Park, Chertsey Road, West Byfleet, Surrey, England, KT14 7AX.
The company specialises in hire and sale of plant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 company is itself a subsidiary company and is exempt from the requirement to prepare group accounts by virtue of section 400 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

  
2.2

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding the company showing net current liabilities of £2,388,338 (2023 - £2,977,362), however, an amount of  £3,568,120 (2023 - £4,187,998) is owed to other group companies, who have confirmed that amounts need not be settled untill the company has sufficient cash reserves. The directors therefore consider the going concern basis is appropriate in these circumstances.

Page 3

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 4

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

 
2.6

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 5

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.11

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Computer software is being amortised evenly over its estimated useful life of five years.

Page 6

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
on cost
Motor vehicles
-
25%
on reducing balance
Fixtures and fittings
-
20%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

  
2.13

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of the value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.14

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 7

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.19

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.20

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).

Page 8

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Other intangible assets

£



Cost


At 1 January 2024
17,995


Additions
14,482



At 31 December 2024

32,477



Amortisation


At 1 January 2024
300


Charge for the year 
5,319



At 31 December 2024

5,619



Net book value



At 31 December 2024
26,858



At 31 December 2023
17,695



Page 9

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 January 2024
789,081
152,887
131,760
1,073,728


Additions
71,312
3,250
5,289
79,851


Disposals
(9,235)
-
-
(9,235)



At 31 December 2024

851,158
156,137
137,049
1,144,344



Depreciation


At 1 January 2024
380,445
48,377
54,650
483,472


Charge for the year
212,789
26,522
20,376
259,687


Disposals
(1,911)
-
-
(1,911)



At 31 December 2024

591,323
74,899
75,026
741,248



Net book value



At 31 December 2024
259,835
81,238
62,023
403,096



At 31 December 2023
408,636
104,510
77,110
590,256



The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
-
27,731

Motor vehicles
54,544
66,443

54,544
94,174

Page 10

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Fixed asset investments





Shares in group undertaking

£



Cost 


At 1 January 2024
6,164,111



At 31 December 2024
6,164,111





7.


Stocks

2024
2023
£
£

Raw materials and consumables
797,939
658,026

797,939
658,026



8.


Debtors

2024
2023
£
£


Trade debtors
259,634
552,609

Amounts owed by group undertakings
9,572
-

Other debtors
18,706
27,793

Prepayments and accrued income
41,782
35,288

329,694
615,690



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
188,886
170,617

188,886
170,617


Page 11

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
29,910
22,976

Amounts owed to group undertakings
3,568,120
4,187,998

Other taxation and social security
75,676
115,372

Obligations under finance lease and hire purchase contracts
13,645
56,754

Other creditors
4,110
-

Accruals and deferred income
13,396
38,595

3,704,857
4,421,695



11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Obligations under finance leases and hire purchase contracts
28,887
42,532

Amounts owed to group undertakings
3,012,424
2,866,893

3,041,311
2,909,425



12.


Hire purchase and finance leases


The following secured debts are included within creditors:

2024
2023
£
£


Hire purchase contracts
13,645
56,754

Between 1-5 years
28,887
42,532

42,532
99,286

Hire purchase agreements are secured against the assets to which the specific agreements relate.

Page 12

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Deferred taxation




2024


£






At beginning of year
61,279


Credited to the Statement of comprehensive income
(47,615)



At end of year
13,664

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
14,488
61,279

Pension surplus
(824)
-

13,664
61,279


14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1
1
1



15.


Pension commitments

The company operates a defined pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable to the fund and amounted to £20,417 (2023 - £20,253). The pension fund balance outstanding at the reporting date was £3,296 (2023 - £2,763).


16.


Related party transactions

The company has adopted the exemption permitted by Financial Reporting Standard 102, not to disclose any transactions with wholly owned members of the group.


17.


Post balance sheet events

There are no subsequent events that require disclosure or adjustments to the financial statements.

Page 13

 
EL-BJORN UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

18.


Ultimate controlling party

The immediate parent undertaking is El-Bjorn AB and the parent undertaking which prepares group financial statements is United Power AB. The registered office of United Power AB is Wallingatan 2, 111 60 Stockholm, Sweden.
The Company is controlled by Mr Nils Gustaf Bergstrom due to his majority shareholding in United Power AB.


19.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 18 March 2025 by Elliot S J Arwas (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 14