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REGISTERED NUMBER: 14607296 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MIMIR INDUSTRIES UK LTD

MIMIR INDUSTRIES UK LTD (REGISTERED NUMBER: 14607296)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MIMIR INDUSTRIES UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: S A Sinclair





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 14607296 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

MIMIR INDUSTRIES UK LTD (REGISTERED NUMBER: 14607296)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,894 8,917

CURRENT ASSETS
Debtors 5 41,716 24,168

CREDITORS
Amounts falling due within one year 6 31,611 29,397
NET CURRENT ASSETS/(LIABILITIES) 10,105 (5,229 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,999

3,688

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 13,998 3,687
SHAREHOLDERS' FUNDS 13,999 3,688

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 director and authorised for issue on 28 May 2025 and were signed by:





S A Sinclair - Director


MIMIR INDUSTRIES UK LTD (REGISTERED NUMBER: 14607296)

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

1. STATUTORY INFORMATION

Mimir Industries UK Ltd 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 company has obtained a letter of support from its parent company, Aktiebolaget Dalsbruk. The Directors of Aktiebolaget Dalsbruk have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for the foreseeable future being at least 12 months and 1 day after the signing of this audit report. As a result of this commitment the director has continued to adopt the going concern basis in preparing these 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.

Turnover represents amounts charged to the company's parent company under an advertising and marketing agreement, excluding value added tax. Turnover is recognised when the chargeable costs are incurred.

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. Each class of asset is depreciated over its useful life as follows:

Computer equipment - Straight line over 2 years
Fixtures & fittings - Straight line over 2 years

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.

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.

MIMIR INDUSTRIES UK LTD (REGISTERED NUMBER: 14607296)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 12,504
Additions 1,282
At 31 December 2024 13,786
DEPRECIATION
At 1 January 2024 3,587
Charge for year 6,305
At 31 December 2024 9,892
NET BOOK VALUE
At 31 December 2024 3,894
At 31 December 2023 8,917

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings 9,609 -
Other debtors 32,107 24,168
41,716 24,168

MIMIR INDUSTRIES UK LTD (REGISTERED NUMBER: 14607296)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 3,511 1,174
Amounts owed to group undertakings - 14,444
Taxation and social security 13,291 4,232
Other creditors & accruals 14,809 9,547
31,611 29,397

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 9,458 9,458

8. CALLED UP SHARE CAPITAL

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

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Crowley (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

"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."

10. ULTIMATE PARENT COMPANY

Aktiebolaget Dalsbruk (organisation number 559308-0814), incorporated in Sweden, is the immediate parent company which owns 100% of Mimir Industries UK Ltd. The registered address is Kungsgatan 7, 111 43 Stockholm, Sweden.

Mimir AB (organisation number 556941-0748), incorporated in Sweden, registered address Kungsgatan 7, 111 43 Stockholm, Sweden is regarded by the directors as being the company's ultimate parent company. Copies of the group's consolidated accounts are publicly available at https://www.bolagsverket.se