Company registration number 03934847 (England and Wales)
GUYMARK UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GUYMARK UK LIMITED
COMPANY INFORMATION
Directors
Soren Nielsen
Rene Schneider
Bronwen Coleman
Secretary
Samantha Walker
Company number
03934847
Registered office
Veronica House
Old Bush Street
Brierley Hill
West Midlands
DY5 1UB
Auditor
Neal and Co Audit Services Limited
Shakespeare Buildings
26 Cradley Road
Cradley Heath
West Midlands
B64 6AG
Tax advisors
KPMG LLP
319 St Vincent Plaza
Glasgow
G2 5AS
Bankers
Danske Bank
Corporates UK
75 King William Street
London
EC4N 7DT
GUYMARK UK LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
GUYMARK UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
322,413
279,915
Current assets
Stocks
597,451
535,096
Debtors
4
429,957
599,999
Cash at bank and in hand
1,520,900
609,923
2,548,308
1,745,018
Creditors: amounts falling due within one year
5
(823,030)
(606,781)
Net current assets
1,725,278
1,138,237
Total assets less current liabilities
2,047,691
1,418,152
Creditors: amounts falling due after more than one year
6
(112,135)
(63,084)
Provisions for liabilities
(27,251)
(44,500)
Net assets
1,908,305
1,310,568
Capital and reserves
Called up share capital
7
3,360
3,360
Capital redemption reserve
2,940
2,940
Profit and loss reserves
1,902,005
1,304,268
Total equity
1,908,305
1,310,568

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
Soren Nielsen
Director
Company Registration No. 03934847
GUYMARK UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
3,360
2,940
928,736
935,036
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
375,532
375,532
Balance at 31 December 2023
3,360
2,940
1,304,268
1,310,568
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
597,737
597,737
Balance at 31 December 2024
3,360
2,940
1,902,005
1,908,305
GUYMARK UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Guymark UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Veronica House, Old Bush Street, Brierley Hill, West Midlands, DY5 1UB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

The financial statements of the company are consolidated in the financial statements of Demant A/S. The consolidated financial statements of this group are available to the public and may be obtained from Demant A/S, Kongebakken 9, 2765 Smørum, Denmark. www.demant.com

 

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
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.

GUYMARK UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% Straight line
Fixtures, fittings & equipment
20% Straight line
Motor vehicles
25% Straight line
Other assets (leased vehicles)
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The following assets and liabilities are classified as financial instruments – trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

GUYMARK UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
25
23
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Other assets (leased vehicles)
Total
£
£
£
£
£
Cost
At 1 January 2024
524,412
85,621
213,270
-
0
823,303
Additions
5,000
-
0
98,740
87,255
190,995
Disposals
(57,569)
-
0
(89,243)
-
0
(146,812)
At 31 December 2024
471,843
85,621
222,767
87,255
867,486
Depreciation and impairment
At 1 January 2024
414,731
57,823
70,834
-
0
543,388
Depreciation charged in the year
34,242
9,534
46,938
11,191
101,905
Eliminated in respect of disposals
(50,278)
-
0
(49,942)
-
0
(100,220)
At 31 December 2024
398,695
67,357
67,830
11,191
545,073
Carrying amount
At 31 December 2024
73,148
18,264
154,937
76,064
322,413
At 31 December 2023
109,681
27,798
142,436
-
0
279,915
GUYMARK UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
400,280
536,361
Corporation tax recoverable
-
0
16,114
Amounts owed by group undertakings
5,466
14,589
Other debtors
24,211
32,935
429,957
599,999
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
77,086
86,185
Amounts owed to group undertakings
415,289
187,570
Corporation tax
20,458
-
0
Other taxation and social security
151,558
174,098
Other creditors
158,639
158,928
823,030
606,781
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
112,135
63,084
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares class A of £1 each
3,060
3,060
3,060
3,060
Ordinary shares class B of £1 each
300
300
300
300
3,360
3,360
3,360
3,360
GUYMARK UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Ian Marsh
Statutory Auditor:
Neal and Co Business Services Limited
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
25,800
64,500
The lease ends on 31 August 2025.
10
Related party transactions

The company has taken advantage of the exemption under FRS 102 "Related Party Disclosures" not to disclose related party transactions between companies which are wholly owned subsidiaries within the group.

11
Parent company

The immediate parent undertaking is ENSCO 722 Limited, incorporated in England. The registered office is 3800 Parkside Solihull Parkway, Birmingham Business Park, Birmingham, West Midlands, B37 7YG. The ultimate parent undertaking is William Demant Foundation, incorporated in Denmark.

The largest and smallest group in which the results of the company are consolidated is that headed by Demant A/S, incorporated in Denmark. The consolidated financial statements of this group are available to the public and may be obtained from Demant A/S, Kongebakken 9, 2765 Smørum, Denmark. www.demant.com

2024-12-312024-01-01false03 June 2025CCH SoftwareCCH Accounts Production 2022.200No description of principal activityThis audit opinion is unqualifiedSoren NielsenRene SchneiderB ColemanSamantha Walker039348472024-01-012024-12-3103934847bus:Director62024-01-012024-12-3103934847bus:Director72024-01-012024-12-3103934847bus:Director82024-01-012024-12-3103934847bus:CompanySecretary12024-01-012024-12-3103934847bus:Director12024-01-012024-12-3103934847bus:Director22024-01-012024-12-3103934847bus:Director32024-01-012024-12-3103934847bus:RegisteredOffice2024-01-012024-12-3103934847bus:Agent12024-01-012024-12-31039348472024-12-31039348472023-12-3103934847core:PlantMachinery2024-12-3103934847core:FurnitureFittings2024-12-3103934847core:MotorVehicles2024-12-3103934847core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-12-3103934847core:PlantMachinery2023-12-3103934847core:FurnitureFittings2023-12-3103934847core:MotorVehicles2023-12-3103934847core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-12-3103934847core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3103934847core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103934847core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3103934847core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3103934847core:CurrentFinancialInstruments2024-12-3103934847core:CurrentFinancialInstruments2023-12-3103934847core:ShareCapital2024-12-3103934847core:ShareCapital2023-12-3103934847core:CapitalRedemptionReserve2024-12-3103934847core:CapitalRedemptionReserve2023-12-3103934847core:RetainedEarningsAccumulatedLosses2024-12-3103934847core:RetainedEarningsAccumulatedLosses2023-12-3103934847core:ShareCapital2022-12-3103934847core:CapitalRedemptionReserve2022-12-3103934847core:RetainedEarningsAccumulatedLosses2022-12-31039348472022-12-3103934847core:ShareCapitalOrdinaryShares2024-12-3103934847core:ShareCapitalOrdinaryShares2023-12-3103934847core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31039348472023-01-012023-12-3103934847core:RetainedEarningsAccumulatedLosses2024-01-012024-12-3103934847core:PlantMachinery2024-01-012024-12-3103934847core:FurnitureFittings2024-01-012024-12-3103934847core:MotorVehicles2024-01-012024-12-3103934847core:PlantMachinery2023-12-3103934847core:FurnitureFittings2023-12-3103934847core:MotorVehicles2023-12-3103934847core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-12-31039348472023-12-3103934847core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-01-012024-12-3103934847core:WithinOneYear2024-12-3103934847core:WithinOneYear2023-12-3103934847core:Non-currentFinancialInstruments2024-12-3103934847core:Non-currentFinancialInstruments2023-12-310393484712024-01-012024-12-3103934847bus:PrivateLimitedCompanyLtd2024-01-012024-12-3103934847bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103934847bus:FRS1022024-01-012024-12-3103934847bus:Audited2024-01-012024-12-3103934847bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP