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COMPANY REGISTRATION NUMBER: 12348006
CONSUMER UNITS LIMITED
FILLETED FINANCIAL STATEMENTS
31 December 2024
CONSUMER UNITS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
Contents
Page
Directors' responsibilities statement 1
Balance sheet 2
Notes to the financial statements 3
CONSUMER UNITS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
YEAR ENDED 31 DECEMBER 2024
The directors are responsible for preparing the directors' 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 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 judgments 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.
CONSUMER UNITS LIMITED
BALANCE SHEET
31 December 2024
2024
2023
Note
£
£
Current assets
Stocks
272,244
302,205
Debtors
4
3,660
( 254)
Cash at bank and in hand
41,631
26,782
------------
------------
317,535
328,733
Creditors: amounts falling due within one year
5
324,424
334,773
------------
------------
Net current liabilities
6,889
6,040
------------
------------
Total assets less current liabilities
( 6,889)
( 6,040)
------------
------------
Net liabilities
( 6,889)
( 6,040)
------------
------------
Capital and reserves
Called up share capital
6
100
100
Profit and loss account
( 6,989)
( 6,140)
------------
------------
Shareholders deficit
( 6,889)
( 6,040)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 April 2025 , and are signed on behalf of the board by:
Mr J Steene
Mr M Rockhammar
Director
Director
Company registration number: 12348006
CONSUMER UNITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Johnson House, Watts Street, Chadderton, Oldham, OL9 9LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company incurred a small loss in the year and had minor net liabilities at 31 December 2023 and 31 December 2024. The directors have secured a commitment to on-going financial support and provision of working capital facilities from the parent company and accordingly the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2024
2023
£
£
Trade debtors
2,256
( 254)
Other debtors
1,404
------------
------------
3,660
( 254)
------------
------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
94
Amounts owed to group undertakings
307,816
307,816
Accruals and deferred income
900
650
Social security and other taxes
1,740
2,533
Other creditors
13,874
23,774
------------
------------
324,424
334,773
------------
------------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
7. Summary audit opinion
The auditor's report dated 24 April 2025 was unqualified .
The senior statutory auditor was David Butterworth , for and on behalf of Wheawill & Sudworth Limited .
8. Related party transactions
Included in creditors as at 31 December 2024 and 31 December 2023 is a debt of £307,816 owed to the immediate parent company. This is unsecured, repayable on demand and currently interest free.
9. Controlling party
The largest and smallest group of undertakings for which group accounts are drawn up and of which the company is a member is that of Teqnion AB , a company incorporated in Sweden. Group accounts can be obtained from Evenemangsgatan 31A, 169 79 Solna, Sweden . The immediate parent company is Surge Protection Devices Limited and the ultimate parent company is Teqnion AB . There is no one ultimate controlling party of the group.