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REGISTERED NUMBER: 02724989 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SIGVARIS BRITAIN LIMITED

SIGVARIS BRITAIN LIMITED (REGISTERED NUMBER: 02724989)

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


SIGVARIS BRITAIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: S Ha
D Straub



SECRETARY: Mrs J L Briggs



REGISTERED OFFICE: 1 Imperial Court
Magellan Close
Andover
Hampshire
SP10 5NT



REGISTERED NUMBER: 02724989 (England and Wales)



AUDITORS: BDO LLP
Arcadia House
Maritime Walk
Southampton
Hampshire
SO14 3TL



BANKERS: National Westminster Bank Plc
105 High Street
Winchester
Hampshire
SO23 9AH

SIGVARIS BRITAIN LIMITED (REGISTERED NUMBER: 02724989)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 51,945 50,359

CURRENT ASSETS
Stocks 5 353,377 358,691
Debtors 6 780,629 633,161
Cash at bank and in hand 643,585 612,441
1,777,591 1,604,293
CREDITORS
Amounts falling due within one year 7 (895,064) (806,601)
NET CURRENT ASSETS 882,527 797,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

934,472

848,051

PROVISIONS FOR LIABILITIES 9 (93,763) (78,454)
NET ASSETS 840,709 769,597

CAPITAL AND RESERVES
Called up share capital 862,500 862,500
Capital redemption reserve 12,500 12,500
Retained earnings (34,291 ) (105,403 )
SHAREHOLDERS' FUNDS 840,709 769,597

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:




S Ha - Director



D Straub - Director


SIGVARIS BRITAIN LIMITED (REGISTERED NUMBER: 02724989)

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


1. STATUTORY INFORMATION

Sigvaris Britain 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
The financial statements have been prepared on a going concern basis and this is supported by forecasts prepared by the Directors, with continuing profitability expected. In the event it is required, the company's ultimate parent company has confirmed in a signed letter of support that they will provide the company with the resources to continue trading for a period of no less than 12 months from the signing of these financial statements.

Significant judgements and estimates
The most significant estimate and judgement in these accounts relates to the valuation and recognition of a provision for dilapidation which will become payable when the company vacates its premises at the end of the lease term. The directors consider it appropriate to provide for these costs as there is a contractual obligation to return the property to its original state upon departure and the estimated cost of this work can be reliably estimated by reference to the alterations made when the company took on the property. The directors have used previous estimates made by third party surveyors and their own past experience in determining the level of the provision held.

Turnover
Turnover is the amount derived from the sale of compression hosiery during the year and is stated after trade discounts, other sales taxes and net of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. Revenue from the sales of compression hosiery is recognised when goods are dispatched.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Leasehold Improvements- straight line over the term of the lease
Fixtures & fittings - straight line over 1, 3, 6 or 8 years
Computer & office equipment - straight line over 1 or 3 years

Stocks
Stocks are valued on a first in, first out basis at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SIGVARIS BRITAIN LIMITED (REGISTERED NUMBER: 02724989)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

Operating leases
Rentals paid under operating leases are charged to the Statement of Comprehensive Income as incurred.

Interest
Interest receivable or payable is credited or charged to the Statement of Comprehensive Income in the financial year to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 23 ) .

SIGVARIS BRITAIN LIMITED (REGISTERED NUMBER: 02724989)

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


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold & office Computer
Improvements equipment equipment Totals
£    £    £    £   
COST
At 1 January 2024 189,321 23,326 180,760 393,407
Additions - - 32,903 32,903
Disposals - - (2,859 ) (2,859 )
At 31 December 2024 189,321 23,326 210,804 423,451
DEPRECIATION
At 1 January 2024 152,578 22,028 168,442 343,048
Charge for year 18,343 721 10,903 29,967
Eliminated on disposal - - (1,509 ) (1,509 )
At 31 December 2024 170,921 22,749 177,836 371,506
NET BOOK VALUE
At 31 December 2024 18,400 577 32,968 51,945
At 31 December 2023 36,743 1,298 12,318 50,359

5. STOCKS
2024 2023
£    £   
Trading stocks 353,377 358,691

There is no material difference between the replacement cost of stocks and the amounts stated above.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 712,692 588,615
Amounts owed by group undertakings 8,750 -
Other debtors 59,187 44,546
780,629 633,161

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 107,005 68,972
Amounts owed to group undertakings 314,821 306,046
Taxation and social security 256,687 217,230
Other creditors 216,551 214,353
895,064 806,601

SIGVARIS BRITAIN LIMITED (REGISTERED NUMBER: 02724989)

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:
2024 2023
£    £   
Within one year 141,279 122,744
Between one and five years 102,564 113,047
243,843 235,791

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,763 6,454
Other provisions 84,000 72,000
93,763 78,454

Deferred Dilapidations
tax
£    £   
Balance at 1 January 2024 6,454 72,000
Provided during year 3,309 12,000
Balance at 31 December 2024 9,763 84,000

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

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 7 March 2025 by James Evans (Senior Statutory Auditor) on behalf of BDO LLP.

11. 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 wholly owned subsidiaries within the group.

The directors did not receive any remuneration or dividends from the company during the current or previous period.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Sigvaris Holding AG.

Sigvaris Holding AG, a company incorporated in Switzerland, is the holder of the company's 862,500 shares.

Sigvaris Holding AG is the parent of the smallest group for which financial statements are drawn up of which Sigvaris Britain Limited is a member. The registered office of Sigvaris Holding AG is Sandgrube 29, 9050 Appenzell.