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REGISTERED NUMBER: 06491573 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ARCTIC TRUCKS UK LIMITED

ARCTIC TRUCKS UK LIMITED (REGISTERED NUMBER: 06491573)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARCTIC TRUCKS UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: E Grimsson
P J Smith





REGISTERED OFFICE: Unit 4a Glebe Farm Business Park
Horley
Oxfordshire
OX15 6BN





REGISTERED NUMBER: 06491573 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

ARCTIC TRUCKS UK LIMITED (REGISTERED NUMBER: 06491573)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 224,530 116,000

CURRENT ASSETS
Stocks 511,909 407,414
Debtors 5 209,882 402,816
Cash at bank 506,598 251,564
1,228,389 1,061,794
CREDITORS
Amounts falling due within one year 6 462,763 452,111
NET CURRENT ASSETS 765,626 609,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

990,156

725,683

CREDITORS
Amounts falling due after more than one year 7 (29,270 ) (34,912 )

PROVISIONS FOR LIABILITIES (94,584 ) (112,098 )
NET ASSETS 866,302 578,673

CAPITAL AND RESERVES
Called up share capital 9 2 2
Share premium 1,799,999 1,799,999
Retained earnings (933,699 ) (1,221,328 )
SHAREHOLDERS' FUNDS 866,302 578,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ARCTIC TRUCKS UK LIMITED (REGISTERED NUMBER: 06491573)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





E Grimsson - Director


ARCTIC TRUCKS UK LIMITED (REGISTERED NUMBER: 06491573)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Arctic Trucks 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 financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months and 1 day from the accounts signing date. Therefore the company continues to adopt the going concern basis in preparing the financial statements.

Related party exemption
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 wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue earned on the sale of Trucks and related accessories is recognised once the risks and rewards of ownership have transferred to the customer, arising on the point of delivery to the customer. Revenue earned on the provision of engineering services is recognised on completion of the relevant services to be carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 - 7 years

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

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.


ARCTIC TRUCKS UK LIMITED (REGISTERED NUMBER: 06491573)

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
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 profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Basic Financial Instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

ARCTIC TRUCKS UK LIMITED (REGISTERED NUMBER: 06491573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 417,778
Additions 152,424
Disposals (9,843 )
At 31 December 2024 560,359
DEPRECIATION
At 1 January 2024 301,778
Charge for year 43,894
Eliminated on disposal (9,843 )
At 31 December 2024 335,829
NET BOOK VALUE
At 31 December 2024 224,530
At 31 December 2023 116,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 154,752 246,968
Other debtors 55,130 155,848
209,882 402,816

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 6,618 6,618
Trade creditors 140,309 160,313
Amounts owed to group undertakings 176,801 103,550
Taxation and social security 70,585 62,594
Other creditors & accruals 68,450 119,036
462,763 452,111

The bank loan is secured by a fixed and floating charge over all of the company's assets.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 29,270 34,912

ARCTIC TRUCKS UK LIMITED (REGISTERED NUMBER: 06491573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 109,041 67,287
Between one and five years 268,461 148,031
377,502 215,318

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
2 Ordinary £1 2 2

10. ULTIMATE CONTROLLING PARTY

The immediate parent company and ultimate controlling party is Arctic Trucks International ehf, incorporated in Iceland.