9
24 April 2025
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2024 - FRS102_2024
75
75
xbrli:pure
xbrli:shares
iso4217:GBP
05920962
2024-01-01
2024-12-31
05920962
2024-12-31
05920962
2023-12-31
05920962
2023-01-01
2023-12-31
05920962
2023-12-31
05920962
2022-12-31
05920962
core:PlantMachinery
2024-01-01
2024-12-31
05920962
core:FurnitureFittings
2024-01-01
2024-12-31
05920962
core:MotorVehicles
2024-01-01
2024-12-31
05920962
bus:OrdinaryShareClass1
2024-01-01
2024-12-31
05920962
bus:OrdinaryShareClass2
2024-01-01
2024-12-31
05920962
bus:OrdinaryShareClass3
2024-01-01
2024-12-31
05920962
bus:OrdinaryShareClass4
2024-01-01
2024-12-31
05920962
bus:OrdinaryShareClass5
2024-01-01
2024-12-31
05920962
bus:Director4
2024-01-01
2024-12-31
05920962
bus:Director5
2024-01-01
2024-12-31
05920962
core:WithinOneYear
2024-12-31
05920962
core:WithinOneYear
2023-12-31
05920962
core:PlantMachinery
2023-12-31
05920962
core:FurnitureFittings
2023-12-31
05920962
core:MotorVehicles
2023-12-31
05920962
core:PlantMachinery
2024-12-31
05920962
core:FurnitureFittings
2024-12-31
05920962
core:MotorVehicles
2024-12-31
05920962
core:ShareCapital
2024-12-31
05920962
core:ShareCapital
2023-12-31
05920962
core:RetainedEarningsAccumulatedLosses
2024-12-31
05920962
core:RetainedEarningsAccumulatedLosses
2023-12-31
05920962
core:BetweenOneFiveYears
2024-12-31
05920962
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
05920962
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2024-12-31
05920962
core:AcceleratedTaxDepreciationDeferredTax
2024-12-31
05920962
core:AcceleratedTaxDepreciationDeferredTax
2023-12-31
05920962
core:PlantMachinery
2023-12-31
05920962
core:FurnitureFittings
2023-12-31
05920962
core:MotorVehicles
2023-12-31
05920962
bus:Director1
2024-01-01
2024-12-31
05920962
bus:Director2
2024-01-01
2024-12-31
05920962
bus:SmallEntities
2024-01-01
2024-12-31
05920962
bus:Audited
2024-01-01
2024-12-31
05920962
bus:SmallCompaniesRegimeForAccounts
2024-01-01
2024-12-31
05920962
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
05920962
bus:FullAccounts
2024-01-01
2024-12-31
05920962
bus:OrdinaryShareClass1
2024-12-31
05920962
bus:OrdinaryShareClass1
2023-12-31
05920962
bus:OrdinaryShareClass2
2024-12-31
05920962
bus:OrdinaryShareClass2
2023-12-31
05920962
bus:OrdinaryShareClass3
2024-12-31
05920962
bus:OrdinaryShareClass3
2023-12-31
05920962
bus:OrdinaryShareClass4
2024-12-31
05920962
bus:OrdinaryShareClass4
2023-12-31
05920962
bus:OrdinaryShareClass5
2024-12-31
05920962
bus:OrdinaryShareClass5
2023-12-31
05920962
bus:AllOrdinaryShares
2024-12-31
05920962
bus:AllOrdinaryShares
2023-12-31
05920962
core:OfficeEquipment
2024-01-01
2024-12-31
05920962
core:OfficeEquipment
2023-12-31
05920962
core:OfficeEquipment
2024-12-31
05920962
core:Subsidiary1
2024-01-01
2024-12-31
05920962
core:ParentEntities
2024-01-01
2024-12-31
COMPANY REGISTRATION NUMBER:
05920962
|
SURGE PROTECTION DEVICES LIMITED |
|
|
FILLETED FINANCIAL STATEMENTS |
|
|
SURGE PROTECTION DEVICES LIMITED |
|
YEAR ENDED 31 DECEMBER 2024
Directors' responsibilities statement
1
Balance sheet
2
Notes to the financial statements
3 to 9
|
SURGE PROTECTION DEVICES 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.
|
SURGE PROTECTION DEVICES LIMITED |
|
31 December 2024
Fixed assets
|
Tangible assets |
5 |
37,543 |
24,505 |
|
|
|
|
Current assets
|
Stocks |
7 |
563,672 |
400,685 |
|
Debtors |
8 |
1,585,783 |
717,100 |
|
Cash at bank and in hand |
1,722,056 |
1,080,965 |
|
------------ |
------------ |
|
3,871,511 |
2,198,750 |
|
|
|
|
|
Creditors: amounts falling due within one year |
9 |
972,286 |
666,191 |
|
------------ |
------------ |
|
Net current assets |
2,899,225 |
1,532,559 |
|
------------ |
------------ |
|
Total assets less current liabilities |
2,936,768 |
1,557,064 |
|
|
|
|
|
Provisions |
(
4,852) |
6,127 |
|
------------ |
------------ |
|
Net assets |
2,941,620 |
1,550,937 |
|
------------ |
------------ |
|
|
|
Capital and reserves
|
Called up share capital |
11 |
411 |
411 |
|
Profit and loss account |
2,941,209 |
1,550,526 |
|
------------ |
------------ |
|
Shareholders funds |
2,941,620 |
1,550,937 |
|
------------ |
------------ |
|
|
|
|
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:
05920962
|
SURGE PROTECTION DEVICES 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, Lancashire.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest £.
Consolidation
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of an EEA State.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, and is shown net of Value Added Tax. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Taxation
The taxation expense represents the aggregate amount of tax currently payable and deferred tax. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
20% reducing balance |
|
Fixtures and fittings |
- |
15% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
Equipment |
- |
33% 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 the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are stated 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. Stock held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. At each reporting date an estimate is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit and loss account. Reversals of impairment losses are also recognised in the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
9
(2023:
9
).
5.
Tangible assets
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
|
Cost |
|
|
|
|
|
|
At 1 January 2024 |
19,230 |
7,869 |
31,990 |
14,312 |
73,401 |
|
Additions |
– |
2,367 |
19,900 |
4,721 |
26,988 |
|
------------ |
------------ |
------------ |
------------ |
------------ |
|
At 31 December 2024 |
19,230 |
10,236 |
51,890 |
19,033 |
100,389 |
|
------------ |
------------ |
------------ |
------------ |
------------ |
|
Depreciation |
|
|
|
|
|
|
At 1 January 2024 |
8,209 |
3,400 |
24,212 |
13,075 |
48,896 |
|
Charge for the year |
2,204 |
862 |
9,385 |
1,499 |
13,950 |
|
------------ |
------------ |
------------ |
------------ |
------------ |
|
At 31 December 2024 |
10,413 |
4,262 |
33,597 |
14,574 |
62,846 |
|
------------ |
------------ |
------------ |
------------ |
------------ |
|
Carrying amount |
|
|
|
|
|
|
At 31 December 2024 |
8,817 |
5,974 |
18,293 |
4,459 |
37,543 |
|
------------ |
------------ |
------------ |
------------ |
------------ |
|
At 31 December 2023 |
11,021 |
4,469 |
7,778 |
1,237 |
24,505 |
|
------------ |
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
75 |
|
------------ |
|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
75 |
|
------------ |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
– |
|
------------ |
|
At 31 December 2023 |
– |
|
------------ |
|
|
7.
Stocks
|
2024 |
2023 |
|
£ |
£ |
|
Finished goods and goods for resale |
563,672 |
400,685 |
|
------------ |
------------ |
|
|
|
8.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
490,926 |
389,152 |
|
Amounts owed by group undertakings |
907,816 |
307,816 |
|
Other debtors |
187,041 |
20,132 |
|
------------ |
------------ |
|
1,585,783 |
717,100 |
|
------------ |
------------ |
|
|
|
Amounts due from group undertakings include £500,000 and £100,000 repayable by 28 February 2029 and 31 July 2029, respectively, and accruing interest at 2.5% per annum. Accrued interest at 31 December 2024 was £12,158 (2023: £nil).
9.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
156,967 |
63,832 |
|
Accruals and deferred income |
120,013 |
65,766 |
|
Corporation tax |
460,901 |
321,086 |
|
Social security and other taxes |
234,259 |
215,438 |
|
Other creditors |
146 |
69 |
|
------------ |
------------ |
|
972,286 |
666,191 |
|
------------ |
------------ |
|
|
|
10.
Deferred tax
The deferred tax included in the balance sheet is as follows:
|
2024 |
2023 |
|
£ |
£ |
|
Included in provisions |
(
4,852) |
6,127 |
|
------------ |
------------ |
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
2024 |
2023 |
|
£ |
£ |
|
Accelerated capital allowances |
(
4,852) |
6,127 |
|
------------ |
------------ |
|
|
|
11.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary A voting shares of £ 1 each |
75 |
75 |
75 |
75 |
|
Ordinary B voting shares of £ 1 each |
25 |
25 |
25 |
25 |
|
Ordinary C non voting shares of £ 1 each |
100 |
100 |
100 |
100 |
|
Ordinary D non voting shares of £ 1 each |
100 |
100 |
100 |
100 |
|
Ordinary E voting shares of £ 1 each |
11 |
11 |
11 |
11 |
|
Ordinary F non voting shares of £1 each |
100 |
100 |
100 |
100 |
|
------------ |
------------ |
------------ |
------------ |
|
411 |
411 |
411 |
411 |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
12.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
42,000 |
– |
|
Later than 1 year and not later than 5 years |
150,500 |
– |
|
------------ |
------------ |
|
192,500 |
– |
|
------------ |
------------ |
|
|
|
13.
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
.
14.
Related party transactions
Included in debtors as at 31 December 2024 and 31 December 2023 is a debt of £307,816 owed by the subsidiary company. This is unsecured, repayable on demand and currently interest free.
Included in debtors as at 31 December 2024 are debts of £500,000 and £100,000 owed by the parent company. These are unsecured, repayable by 14 February 2029 and 10 July 2029, respectively, and accruing interest at 2.5% per annum. The company paid a management charge of £200,000 (2023: £10,000) to the parent company during the year.
15.
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 Teqnion AB
. There is no one ultimate controlling party of the group.