Company registration number SC312551 (Scotland)
GUDRUN SJODEN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GUDRUN SJODEN LIMITED
COMPANY INFORMATION
Directors
Ms G Sjoden
Ms A K Sjoden
Mr Hans Pettersson
(Appointed 27 February 2025)
Mrs Hel Johansson
(Appointed 27 February 2025)
Secretary
Thorntons Law LLP
Company number
SC312551
Registered office
Kinburn Castle
St Andrews
Fife
Scotland
KY16 9DR
Auditor
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
Bankers
Handelsbanken
4 Moorgate
London
EC2R 6DA
GUDRUN SJODEN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
GUDRUN SJODEN LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
152,473
121
Current assets
Stocks
71,200
59,944
Debtors
6
289,298
257,423
Cash at bank and in hand
794,122
875,461
1,154,620
1,192,828
Creditors: amounts falling due within one year
7
(747,101)
(739,696)
Net current assets
407,519
453,132
Total assets less current liabilities
559,992
453,253
Provisions for liabilities
(5,113)
-
0
Net assets
554,879
453,253
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
554,878
453,252
Total equity
554,879
453,253

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

These financial statements have been prepared and delivered 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 29 April 2025 and are signed on its behalf by:
Mr Hans Pettersson
Director
Company registration number SC312551 (Scotland)
GUDRUN SJODEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Gudrun Sjoden Limited is a private company limited by shares incorporated in Scotland. The registered office is Kinburn Castle, St Andrews, Fife, Scotland, KY16 9DR.

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 principal accounting policies adopted are set out below.

1.2
Going concern

The directors have considered thetrue importance of a UK presence for the future of the group and their ability to generate a strong brand within a difficult economic climate. The directors have presented a generic strategy covering the next two years. This strategy involves improving their physical retail experience and growing brand loyalty, whilst also increasing their customer base through continued expenditure on advertising, alongside expansion of the company's digital marketing avenues. Evidence of this continued support from the group can be seen in their renewal of the London shop lease until 2027 and in the refurbishment of the London shop during 2024.

 

In assessing going concern, the directors have considered budgeted and forecasted figures for at least the following 12 months for both the company and the group. They remain confident that the company will continue to have sufficient resources to settle obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. The continued support of the group, which is itself performing well, is also virtually guaranteed.

 

In view of the above, the directors consider it is appropriate to prepare the financial statements on a going concern basis.

1.3
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

1.4
Intangible fixed assets - goodwill

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

GUDRUN SJODEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
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% straight line
Fixtures and fittings
20% straight line

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.

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.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

Cost is based on the cost of purchase on an average cost basis.

1.7
Cash and cash equivalents

Cash and cash equivalents 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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

Basic financial assets

Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Basic financial liabilities

Creditors are not interest bearing and are included at their nominal value.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GUDRUN SJODEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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 balances are recognised in respect of all timing differences that have originated but notreversed by the statement of financial position date, except that:

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.

1.10
Retirement benefits

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

1.11
Foreign exchange

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

 

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary 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 period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss 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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

1.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

 

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

GUDRUN SJODEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
10
10
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
16,439
Amortisation and impairment
At 1 January 2024 and 31 December 2024
16,439
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
GUDRUN SJODEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024
157,998
141,906
299,904
Additions
143,108
34,611
177,719
Disposals
(157,998)
(140,086)
(298,084)
At 31 December 2024
143,108
36,431
179,539
Depreciation and impairment
At 1 January 2024
157,998
141,785
299,783
Depreciation charged in the year
22,361
3,006
25,367
Eliminated in respect of disposals
(157,998)
(140,086)
(298,084)
At 31 December 2024
22,361
4,705
27,066
Carrying amount
At 31 December 2024
120,747
31,726
152,473
At 31 December 2023
-
0
121
121
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,794
30,375
Other debtors
286,504
225,025
289,298
255,400
Deferred tax asset
-
0
2,023
289,298
257,423
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
129,304
137,801
Amounts owed to group undertakings
58,372
113,130
Taxation and social security
288,454
303,547
Other creditors
270,971
185,218
747,101
739,696
GUDRUN SJODEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
9
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.

Senior Statutory Auditor:
Timothy Neale
Statutory Auditor:
Kirk Rice LLP
Date of audit report:
29 April 2025
10
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
£
£
585,000
225,000
11
Parent company

The company is a wholly owned subsidiary of Gudrun Sjoden Group AB. Consolidated financial statements are prepared for Gudrun Sjoden Group AB, the registered office address and principal place of business of which is Box 47 633, Upplagsvagen 1, 117 94 Stockholm, Sweden.

 

The ultimate controlling party is Ms Gudrun Sjoden by virtue of her majority voting interest in the ultimate parent company, Gudrun Sjoden Group AB.

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Ms A AdelssonMs G SjodenMs A K SjodenMr Hans PetterssonMrs Hel JohanssonThorntons Law LLP
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