REGISTERED NUMBER: 10586484 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

SUEDWOLLE GROUP UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J R Birkhead

REGISTERED OFFICE:

Bridge House

Marsh Lane

Shepley

Huddersfield

West Yorkshire

HD8 8AE

REGISTERED NUMBER:

10586484 (England and Wales)

AUDITORS:

S Burgess & Co Ltd

Statutory Auditor

11 Slayleigh Avenue

Sheffield

South Yorkshire

S10 3RA

FIXED ASSETS

Tangible assets

4

1,019

8,774

CURRENT ASSETS

Debtors

5

15,202

11,018

Cash at bank

16,323

4,516

31,525

15,534

CREDITORS

Amounts falling due within one year

6

138,382

60,352

NET CURRENT LIABILITIES

(106,857

)

(44,818

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(105,838

)

(36,044

)

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Retained earnings

9

(115,838

)

(46,044

)

SHAREHOLDERS' FUNDS

(105,838

)

(36,044

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2025 and were signed by:

J R Birkhead - Director

1.	STATUTORY INFORMATION

Suedwolle Group UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Going concern

The company meets its day to day working capital requirements through a group credit facility. The current economic conditions in the UK continue to create uncertainty over the level of demand for the Suedwolle Group products, on which the company earns a commission. The company's forecasts and projections, tested for plausible changes in trading performance, show that the company should be able to trade, with the continued provision of the group credit facility, for the foreseeable future. The company has therefore continued to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover represents the commission due on the sale of yarn within the UK, excluding value added tax. Turnover is recognised upon the delivery of the yarn to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

16.67% on cost

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 or deferred taxation assets and liabilities are not discounted.

Current tax is 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

At each balance sheet date, assets not measured at fair value are reviewed for any indication that the asset may be impaired at the balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount, where the impairment loss is recognised as a revaluation reduction.

Debtors and creditors due within one year

Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any loss arising from impairment is recognised in the statement of comprehensive income within administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

4,699

45,000

49,699

DEPRECIATION

At 1 January 2024

3,425

37,500

40,925

Charge for year

255

7,500

7,755

At 31 December 2024

3,680

45,000

48,680

NET BOOK VALUE

At 31 December 2024

1,019

-

1,019

At 31 December 2023

1,274

7,500

8,774

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

12,967

8,741

VAT

622

807

Prepayments

1,613

1,470

15,202

11,018

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

120,873

51,851

Social security and other taxes

7,518

-

Accrued expenses

9,991

8,501

138,382

60,352

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

7,200

7,200

Between one and five years

3,600

10,800

10,800

18,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

10,000

Ordinary

£1

10,000

10,000

9.

RESERVES

Retained

earnings

£

At 1 January 2024

(46,044

)

Deficit for the year

(69,794

)

At 31 December 2024

(115,838

)

The retained earnings represents cumulative profits and losses, net of dividends and other adjustments.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Burgess ACA (Senior Statutory Auditor)

for and on behalf of S Burgess & Co Ltd

11.	RELATED PARTY DISCLOSURES

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 other group companies within the group.

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is ERWO Holding AG, whose registered office is Wieseneckstrasse 26, Schwaig Bei Nuernberg, 90571, Germany.