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REGISTERED NUMBER: 00434050 (England and Wales)






Nilorn UK Limited

Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024






Nilorn UK Limited (Registered number: 00434050)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


Nilorn UK Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: Mr K Magnusson
Mr D A Hinchliffe
Mr F R Clason





REGISTERED OFFICE: Station Works
Greens Mill Court
Cononley
Skipton
North Yorkshire
BD20 8FE





REGISTERED NUMBER: 00434050 (England and Wales)





AUDITORS: SMH Jolliffe Cork Audit Ltd
Accountants & Statutory Auditors
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Nilorn UK Limited (Registered number: 00434050)

Report of the Directors
for the year ended 31 December 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the sale of woven and printed labels, swing tickets and packaging and garment trims.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2024 will be £ 240,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr K Magnusson
Mr D A Hinchliffe
Mr F R Clason

REPORT EXEMPTIONS
The directors have taken advantage of the small company exemptions available in relation to the directors report and the strategic report as permitted by Sections 415A and 414B of Companies Act 2006 on the grounds that the company would have been entitled to the small company exemptions had it not been a member of an ineligible group.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information, being information needed by the auditors in connection with preparing their report, of which the auditors are unaware. Having made enquiries of fellow directors and the company's auditors, each director has taken all the steps that he/she is obliged to take as a director in order to make himself/herself aware of any relevant audit information and to establish that the auditors are aware of that information.

Nilorn UK Limited (Registered number: 00434050)

Report of the Directors
for the year ended 31 December 2024


AUDITORS
The auditors, SMH Jolliffe Cork Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr D A Hinchliffe - Director


9 April 2025

Report of the Independent Auditors to the Members of
Nilorn UK Limited


Opinion
We have audited the financial statements of Nilorn UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 Financial Reporting Standard 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:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Nilorn UK Limited


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 Report of the Directors.

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:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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 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.

Report of the Independent Auditors to the Members of
Nilorn UK Limited


Auditors' 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 a Report of the Auditors 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.

The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and
skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with the Directors and other informed
management which we considered may have a direct material effect on the financial statements or the operations of the
company and thereafter, the audit team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual,
suspected and alleged fraud and;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;
- in assessing the effectiveness of the control environment, we also reviewed significant correspondence between the
company and UK regulatory bodies, reviewed minutes of meetings and gained an understanding of the company's approach
to governance.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential
bias; and investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims and reviewing correspondence with HMRC and the
company's legal advisors.

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 for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Nilorn UK Limited


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 a Report of the Auditors 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.




Jane Crossley FCA CTA (Senior Statutory Auditor)
for and on behalf of SMH Jolliffe Cork Audit Ltd
Accountants & Statutory Auditors
33 George Street
Wakefield
West Yorkshire
WF1 1LX

25 April 2025

Nilorn UK Limited (Registered number: 00434050)

Income Statement
for the year ended 31 December 2024

2024 2023
Notes £ £ £

TURNOVER 3 4,262,328 3,959,988

Cost of sales 1,565,378 1,769,430
GROSS PROFIT 2,696,950 2,190,558

Distribution costs 545,676 460,686
Administrative expenses 1,494,783 1,401,503
2,040,459 1,862,189
OPERATING PROFIT 5 656,491 328,369

Income from shares in group undertakings 339,791 -
996,282 328,369

Interest payable and similar expenses 6 56,254 27,355
PROFIT BEFORE TAXATION 940,028 301,014

Tax on profit 7 147,535 67,588
PROFIT FOR THE FINANCIAL YEAR 792,493 233,426

Nilorn UK Limited (Registered number: 00434050)

Other Comprehensive Income
for the year ended 31 December 2024

2024 2023
Notes £ £

PROFIT FOR THE YEAR 792,493 233,426


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

792,493

233,426

Nilorn UK Limited (Registered number: 00434050)

Balance Sheet
31 December 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 9 165,140 171,308
Investments 10 24,104 24,104
189,244 195,412

CURRENT ASSETS
Stocks 11 163,364 182,583
Debtors 12 980,313 360,124
Cash at bank and in hand 44,069 120,642
1,187,746 663,349
CREDITORS
Amounts falling due within one year 13 441,923 476,187
NET CURRENT ASSETS 745,823 187,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

935,067

382,574

PROVISIONS FOR LIABILITIES 16 36,000 36,000
NET ASSETS 899,067 346,574

CAPITAL AND RESERVES
Called up share capital 17 100,000 100,000
Retained earnings 18 799,067 246,574
SHAREHOLDERS' FUNDS 899,067 346,574

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





Mr D A Hinchliffe - Director


Nilorn UK Limited (Registered number: 00434050)

Statement of Changes in Equity
for the year ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 January 2023 100,000 1,018,148 1,118,148

Changes in equity
Dividends - (1,005,000 ) (1,005,000 )
Total comprehensive income - 233,426 233,426
Balance at 31 December 2023 100,000 246,574 346,574

Changes in equity
Dividends - (240,000 ) (240,000 )
Total comprehensive income - 792,493 792,493
Balance at 31 December 2024 100,000 799,067 899,067

Nilorn UK Limited (Registered number: 00434050)

Cash Flow Statement
for the year ended 31 December 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 26,498 991,348
Interest paid (56,254 ) (27,355 )
Tax paid (123,625 ) (99,340 )
Net cash from operating activities (153,381 ) 864,653

Cash flows from investing activities
Purchase of tangible fixed assets (23,682 ) (26,378 )
Dividends received 339,791 -
Net cash from investing activities 316,109 (26,378 )

Cash flows from financing activities
Equity dividends paid (240,000 ) (1,005,000 )
Net cash from financing activities (240,000 ) (1,005,000 )

Decrease in cash and cash equivalents (77,272 ) (166,725 )
Cash and cash equivalents at beginning of
year

2

120,642

287,367

Cash and cash equivalents at end of year 2 43,370 120,642

Nilorn UK Limited (Registered number: 00434050)

Notes to the Cash Flow Statement
for the year ended 31 December 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£ £
Profit before taxation 940,028 301,014
Depreciation charges 29,636 23,903
Loss on disposal of fixed assets 214 -
Finance costs 56,254 27,355
Finance income (339,791 ) -
686,341 352,272
Decrease in stocks 19,219 52,011
(Increase)/decrease in trade and other debtors (644,099 ) 757,682
Decrease in trade and other creditors (34,963 ) (170,617 )
Cash generated from operations 26,498 991,348

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£ £
Cash and cash equivalents 44,069 120,642
Bank overdrafts (699 ) -
43,370 120,642
Year ended 31 December 2023
31.12.23 1.1.23
£ £
Cash and cash equivalents 120,642 287,367


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£ £ £
Net cash
Cash at bank and in hand 120,642 (76,573 ) 44,069
Bank overdrafts - (699 ) (699 )
120,642 (77,272 ) 43,370
Total 120,642 (77,272 ) 43,370

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements
for the year ended 31 December 2024


1. STATUTORY INFORMATION

Nilorn 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Nilorn UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included in the consolidated financial statements of its parent, Nilongruppen AB, a company registered in Sweden. These consolidated financial statements can be found at:

https://www.nilorn.com/reports/nilorngruppen-publishes-the-annual-report-and-the-sustainability-report-for-2024/

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. Estimates and Judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The items in the financial statements where these judgements and estimates have been made include:

(i) Useful economic lives of tangible assets
The annual amortisation and depreciation charges for intangible and tangible fixed assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Stock provisions
When calculating the stock provisions, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability.

(iii) Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, after discounts, rebates, exclusive of VAT and other sales taxes or duty.

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
All fixed assets are recorded initially at cost.

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

Plant and machinery - over 5 to 25 years straight line
Fixtures, fittings and equipment - over 2 to 10 years straight line

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

The company has no 'Other financial assets'.

Financial assets are derecognised when (a) the contractual rights to the cashflow from the asset expire or are settled or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and hire purchase contracts, 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 receipts discounted at a market rate of interest.

The company has no 'Other financial liabilities'.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.


Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued
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
Transactions denominated in foreign currency are translated into sterling at the rates ruling at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are dealt with through the profit and loss account and are separately disclosed if material.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension scheme
The company operates a work place pension scheme for its employees with contributions payable to the schemes being charged to the profit and loss account in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£ £
United Kingdom 869,099 774,859
Rest of Europe 814,073 815,480
Rest of World 2,579,156 2,369,649
4,262,328 3,959,988

Turnover is attributable to the continuing activity of sale of printed labels, swing tickets and other woven jacquard products.

4. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 1,021,758 890,237
Social security costs 97,737 96,073
Other pension costs 59,861 35,994
1,179,356 1,022,304

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administration and Management 7 8
Sales 13 14
Production 7 6
27 28

2024 2023
£ £
Directors' remuneration 130,000 145,431
Directors' pension contributions to money purchase schemes 12,527 11,427

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£ £
Hire of plant and machinery 26,220 32,434
Depreciation - owned assets 29,636 23,903
Loss on disposal of fixed assets 214 -
Auditors' remuneration 12,000 11,500
Foreign exchange differences 107 19,927
Operating lease payments - property 90,967 90,967
Operating lease payments - motor 14,901 14,496
Operating lease payments - other 20,245 9,662

In addition to remuneration for the audit, the auditors have also levied the following fees:

20242023
£   £   
Tax advisory services1,2251,175

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£ £
Bank interest 56,254 27,355

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 147,535 69,023

Deferred tax - (1,435 )
Tax on profit 147,535 67,588

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£ £
Profit before tax 940,028 301,014
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
23.500%)

235,007

70,738

Effects of:
Expenses not deductible for tax purposes 123 370
Income not taxable for tax purposes (84,948 ) -
Depreciation in excess of capital allowances 319 1,289
Other timing differences (391 ) 37
Group relief - (3,408 )
Over / (under) provision of corporation tax (2,575 ) (1,438 )

Total tax charge 147,535 67,588

8. DIVIDENDS
2024 2023
£ £
Ordinary shares of £1 each
Interim dividend ordinary 240,000 1,005,000

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


9. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings &
machinery equipment Totals
£ £ £
COST
At 1 January 2024 431,130 212,350 643,480
Additions 4,963 18,719 23,682
Disposals (43,639 ) (13,082 ) (56,721 )
At 31 December 2024 392,454 217,987 610,441
DEPRECIATION
At 1 January 2024 329,041 143,131 472,172
Charge for year 10,792 18,844 29,636
Eliminated on disposal (43,639 ) (12,868 ) (56,507 )
At 31 December 2024 296,194 149,107 445,301
NET BOOK VALUE
At 31 December 2024 96,260 68,880 165,140
At 31 December 2023 102,089 69,219 171,308

10. FIXED ASSET INVESTMENTS
Share in Share in
group associated
undertakings undertakings Totals
£ £ £
COST
At 1 January 2024
and 31 December 2024 25,531 227,463 252,994
PROVISIONS
At 1 January 2024
and 31 December 2024 1,427 227,463 228,890
NET BOOK VALUE
At 31 December 2024 24,104 - 24,104
At 31 December 2023 24,104 - 24,104

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


10. FIXED ASSET INVESTMENTS - continued

At 31 December 2024, the company held shareholdings in the following undertakings:

Name Country of Class of Percentage Nature of
incorporation shares held business
Nilorn Portugal LDA * Portugal Ordinary 100% Label
Manufacturer
Lee and Ferreria LDA ** Portugal Ordinary 100% Property
Investment
Calmon Portugal Limited UK Ordinary 100% Holding company

Calmon Abacus Textiles Private
Limited
India Ordinary 49% Label
Manufacture

Calmon Far East Limited Hong Kong Ordinary 50% Label
Manufacture

* Held 99.8% via Calmon Portugal Limited ** Held 100% via Calmon Portugal Limited.

11. STOCKS
2024 2023
£ £
Raw materials 35,104 30,757
Finished goods 128,260 151,826
163,364 182,583

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 184,649 204,914
Amounts owed by group undertakings 691,175 -
Tax 31,119 55,029
VAT - 37,700
Prepayments and accrued income 73,370 62,481
980,313 360,124

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 14) 699 -
Trade creditors 65,720 140,168
Amounts owed to group undertakings - 109,776
Social security and other taxes 18,666 30,190
VAT 6,453 -
Accruals and deferred income 350,385 196,053
441,923 476,187

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 699 -

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 115,787 121,964
Between one and five years 405,257 417,942
In more than five years 1,319,028 1,417,576
1,840,072 1,957,482

16. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 36,000 36,000

Deferred tax
£
Balance at 1 January 2024 36,000
Accelerated capital allowances
Balance at 31 December 2024 36,000

Nilorn UK Limited (Registered number: 00434050)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100,000 Ordinary £1 100,000 100,000

18. RESERVES
Retained
earnings
£

At 1 January 2024 246,574
Profit for the year 792,493
Dividends (240,000 )
At 31 December 2024 799,067

19. 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 group undertakings.

The ultimate parent company and controlling party is Nilörngruppen AB, a public company incorporated in Sweden.

The largest group in which the results of the company are consolidated is that headed by Nilörngruppen AB, whose headquarters are:

Wieslanders väg 3
504 31 Borås
Sweden.

In the opinion of the directors there is no individual ultimate controlling party.