Company registration number 05371938 (England and Wales)
VBG GROUP SALES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
VBG GROUP SALES LIMITED
COMPANY INFORMATION
Directors
Mr A Erkén
Mr N Gråsjö
Mr P Mikkelsen
Secretary
Mrs A Houghton (resigned 31 May 2024)
Company number
05371938
Registered office
Unit 7 Gemini8 Business Park
Apollo Park
Charon Way
Warrington
WA5 7AE
Auditor
Mitchell Charlesworth (Audit) Limited
Suites C, D, E & F
14th Floor, The Plaza
100 Old Hall Street
Liverpool
England
L3 9QJ
Bankers
SEB AB (Publ)
One Carter Lane
London
EC4V 5AN
Nordea London
6th Floor
5 Aldermanbury Square
London
EC2V 7AZ
VBG GROUP SALES LIMITED
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Independent auditor's report
3 - 5
Profit and loss account
6
Balance sheet
7
Statement of changes in equity
8
Notes to the financial statements
9 - 17
VBG GROUP SALES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities
The principal activity of the company is the import, sales and distribution of truck equipment.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr A Erkén
Mr N Gråsjö
Mr P Mikkelsen
Auditor

The auditor, Mitchell Charlesworth (Audit) Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr A Erkén
Director
10 April 2025
VBG GROUP SALES LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

VBG GROUP SALES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VBG GROUP SALES LIMITED
- 3 -
Opinion

We have audited the financial statements of VBG Group Sales Limited (the 'company') for the year ended 31 December 2024 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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 section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our 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 opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

VBG GROUP SALES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VBG GROUP SALES LIMITED (CONTINUED)
- 4 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

VBG GROUP SALES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VBG GROUP SALES LIMITED (CONTINUED)
- 5 -

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Anita Mason BA (Hons) BFP FCA
Senior Statutory Auditor
For and on behalf of Mitchell Charlesworth (Audit) Limited
11 April 2025
Accountants
Statutory Auditor
Suites C, D, E & F
14th Floor, The Plaza
100 Old Hall Street
Liverpool
England
L3 9QJ
VBG GROUP SALES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2024
2023
Notes
£
£
Turnover
2
5,368,552
5,437,726
Cost of sales
(4,193,692)
(4,183,235)
Gross profit
1,174,860
1,254,491
Distribution costs
(137,451)
(136,848)
Administrative expenses
(878,668)
(905,466)
Other operating income
110,584
94,845
Operating profit
3
269,325
307,022
Interest receivable and similar income
6
26,320
27,830
Interest payable and similar expenses
7
-
0
(33)
Profit before taxation
295,645
334,819
Tax on profit
8
(52,601)
(78,603)
Profit for the financial year
243,044
256,216

The profit and loss account has been prepared on the basis that all operations are continuing operations.

VBG GROUP SALES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
118,797
111,874
Current assets
Stocks
11
333,327
271,646
Debtors
12
970,517
1,043,985
Cash at bank and in hand
168,954
412,804
1,472,798
1,728,435
Creditors: amounts falling due within one year
13
(317,838)
(409,596)
Net current assets
1,154,960
1,318,839
Net assets
1,273,757
1,430,713
Capital and reserves
Called up share capital
15
10,000
10,000
Profit and loss reserves
1,263,757
1,420,713
Total equity
1,273,757
1,430,713

These financial statements have been prepared 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 10 April 2025 and are signed on its behalf by:
Mr A  Erkén
Director
Company registration number 05371938 (England and Wales)
VBG GROUP SALES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2023
10,000
1,464,497
1,474,497
Year ended 31 December 2023:
Profit and total comprehensive income
-
256,216
256,216
Dividends
9
-
(300,000)
(300,000)
Balance at 31 December 2023
10,000
1,420,713
1,430,713
Year ended 31 December 2024:
Profit and total comprehensive income
-
243,044
243,044
Dividends
9
-
(400,000)
(400,000)
Balance at 31 December 2024
10,000
1,263,757
1,273,757
VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
1
Accounting policies
Company information

VBG Group Sales Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Gemini8 Business Park, Apollo Park, Charon Way, Warrington, WA5 7AE.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of VBG Group AB (publ). These consolidated financial statements are available from its registered office, Kungsgatan 57, SE-461 34 Trollhattan, Sweden.

1.2
Going concern

Atruet 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
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 (on delivery 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.

VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 10 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10 - 20% p.a. on a straight line basis
Equipment and tools
20% p.a. on a straight line basis
Computer equipment
33.33% p.a. on a straight line basis
Cars and trailers
20% p.a. on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks which comprise goods for resale are stated at the lower of cost and estimated selling price less costs to sell. Cost comprises purchase cost and those overheads that have been incurred in bringing the stocks to their present location and condition.

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 sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash at bank and in hand 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.

1.8
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.

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.

VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -
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.

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.

1.9
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.

1.10
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 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.

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. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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.

VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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.

1.12
Retirement benefits

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

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
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
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Sale of goods
5,368,552
5,437,726
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
5,157,113
5,291,283
Europe
211,439
146,443
5,368,552
5,437,726
2024
2023
£
£
Other revenue
Interest income
26,320
27,830
VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
3
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
24,989
655
Depreciation of owned tangible fixed assets
26,850
12,918
Profit on disposal of tangible fixed assets
-
(169)
Cost of stocks recognised as an expense
4,193,692
4,183,235
Operating lease charges
109,399
80,275
4
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
6,000
5,885
For other services
Taxation compliance services
995
950
All other non-audit services
3,055
3,376
4,050
4,326
5
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Administrative staff
5
5
Sales staff
1
2
Total
6
7

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
384,942
402,356
Social security costs
40,853
44,510
Pension costs
22,174
34,607
447,969
481,473
VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
26,320
27,830
7
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
-
0
33
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
74,000
79,000
Adjustments in respect of prior periods
(21,399)
(397)
Total current tax
52,601
78,603

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
295,645
334,819
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
73,911
78,682
Under/(over) provided in prior years
(21,399)
(397)
Other adjustments
89
318
Taxation charge for the year
52,601
78,603

There was an unprovided deferred tax liability at 31 December 2024 of £26,508 (2023: £24,076) in relation to accelerated capital allowances.

VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
9
Dividends
2024
2023
£
£
Final paid
400,000
300,000
400,000
300,000

The proposed final dividend for the year ended 31 December 2024 is:

2024
2023
Per share
Total
Total
£
£
£
Ordinary shares
250.00
250,000
400,000

The proposed final dividend is subject to approval by shareholders and has not been included as a liability in these financial statements.

10
Tangible fixed assets
Leasehold improvements
Equipment and tools
Computer equipment
Cars and trailers
Total
£
£
£
£
£
Cost
At 1 January 2024
50,807
62,696
16,213
9,825
139,541
Additions
-
0
2,468
-
0
31,305
33,773
Disposals
-
0
-
0
(793)
-
0
(793)
At 31 December 2024
50,807
65,164
15,420
41,130
172,521
Depreciation and impairment
At 1 January 2024
3,204
11,737
8,048
4,678
27,667
Depreciation charged in the year
5,081
11,347
4,140
6,282
26,850
Eliminated in respect of disposals
-
0
-
0
(793)
-
0
(793)
At 31 December 2024
8,285
23,084
11,395
10,960
53,724
Carrying amount
At 31 December 2024
42,522
42,080
4,025
30,170
118,797
At 31 December 2023
47,603
50,959
8,165
5,147
111,874
11
Stocks
2024
2023
£
£
Stocks
333,327
271,646
VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
901,007
975,000
Other debtors
34,117
33,592
935,124
1,008,592
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
35,393
35,393
Total debtors
970,517
1,043,985
13
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,386
15,605
Corporation tax
44,000
52,000
Other taxation and social security
205,293
258,406
Other creditors
53,159
83,585
317,838
409,596
14
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
22,174
34,607

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

 

15
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £10 each
1,000
1,000
10,000
10,000
VBG GROUP SALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
16
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
137,724
129,683
Between two and five years
268,664
384,826
406,388
514,509
17
Related party transactions

The company has taken advantage of the disclosure exemptions to which it is entitled regarding transactions with its parent and other 100% owned subsidiary companies within the group.

18
Parent company

The immediate parent company is VBG Group Truck Equipment AB, a company incorporated in Sweden. The ultimate parent company is VBG Group AB (publ), a company also incorporated in Sweden.

VBG Foundations own approximately 29% of VBG Group AB (publ):

 

Herman Krefting Foundation for Allergy and Asthma Research 23%

SLK Employees' Foundation 4%

VBG-SLK Foundation 2%

 

They are not (individually or together) considered to be a controlling party. At 31 December 2024, there were no amounts owed to VBG Group AB (publ).

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