Company registration number 14135866 (England and Wales)
Liroy UK Limited
financial statements
For the year ended 30 June 2024
Liroy UK Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Liroy UK Limited
Balance sheet
As at 30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
117,295
338,195
Debtors
3
5,023,139
1,732,279
Cash at bank and in hand
127,116
240,162
5,267,550
2,310,636
Creditors: amounts falling due within one year
4
(4,020,058)
(1,785,889)
Net current assets
1,247,492
524,747
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,246,492
523,747
Total equity
1,247,492
524,747

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 March 2025 and are signed on its behalf by:
Mr D Chattwell
Mr R Lakhani
Director
Director
Company registration number 14135866 (England and Wales)
Liroy UK Limited
Notes to the financial statements
For the year ended 30 June 2024
- 2 -
1
Accounting policies
Company information

Liroy UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Grafton House, ICON Harlow, Third Avenue, Harlow, Essex, England, CM19 5AW.

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 cover the company as an individual entity and are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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 balance sheet 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.

Liroy UK Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

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.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Liroy UK Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
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
Employees

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

2024
2023
Number
Number
Total
7
5
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,219,437
1,727,461
Amounts owed by group undertakings
2,801,508
-
0
Other debtors
2,194
4,818
5,023,139
1,732,279
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
3,599,808
1,532,624
Taxation and social security
153,295
148,202
Other creditors
266,955
105,063
4,020,058
1,785,889
5
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.

Liroy UK Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
Audit report information
(Continued)
- 5 -
Senior Statutory Auditor:
Desirie Lea FCA FCCA
Statutory Auditor:
DJH Audit Limited
Date of audit report:
25 March 2025
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2024
2023
2024
2023
£
£
£
£
Entities with control, joint control or significant influence over the company
357,816
72,486
10,603,135
15,788,243

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
3,599,809
1,532,624
2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
3,207,959
-
7
Parent company

The parent company is Liroy BV, a company incorporated in the Netherlands.

 

The ultimate parent company is SOP International Limited, a company incorporated in England and Wales with a registered office of Grafton House Icon Harlow, Third Avenue, Harlow, Essex, CM19 5AW.

The ultimate parent company is the smallest and largest group into which Liroy UK Limited is consolidated.

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