REGISTERED NUMBER: 08623221 (England and Wales)

Audited Financial Statements

for the Year Ended

31 December 2024

for

Lambretta Operations Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W J A Scheffrahn

S D Wilch

REGISTERED OFFICE:

Office 14, Grovelands Business Park

West Haddon Road

East Haddon

Northampton

NN6 8FB

REGISTERED NUMBER:

08623221 (England and Wales)

AUDITORS:

DJH Audit Limited

Statutory Auditors

Church Court

Stourbridge Road

Halesowen

West Midlands

B63 3TT

FIXED ASSETS

Intangible assets

4

62,248

-

Tangible assets

5

3,315

1,901

65,563

1,901

CURRENT ASSETS

Debtors

6

465,798

641,470

Cash at bank and in hand

5,472

94,432

471,270

735,902

CREDITORS

Amounts falling due within one year

7

968,619

725,802

NET CURRENT (LIABILITIES)/ASSETS

(497,349

)

10,100

TOTAL ASSETS LESS CURRENT LIABILITIES

(431,786

)

12,001

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(431,787

)

12,000

(431,786

)

12,001

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 19 July 2025 and were signed on its behalf by:

S D Wilch - Director

1.	STATUTORY INFORMATION

Lambretta Operations 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 have been prepared on a going concern basis on the grounds that support will continue to be provided by fellow group companies to enable the company to pay its debts as they fall due.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three 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.

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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & Fittings - 50% straight line

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

93,373

At 31 December 2024

93,373

AMORTISATION

Amortisation for year

31,125

At 31 December 2024

31,125

NET BOOK VALUE

At 31 December 2024

62,248

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

10,098

Additions

3,809

At 31 December 2024

13,907

DEPRECIATION

At 1 January 2024

8,197

Charge for year

2,395

At 31 December 2024

10,592

NET BOOK VALUE

At 31 December 2024

3,315

At 31 December 2023

1,901

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

10,405

Amounts owed by group undertakings

423,568

621,551

Other debtors

42,230

9,514

465,798

641,470

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

241,951

78,393

Amounts owed to group undertakings

592,510

615,518

Other creditors

134,158

31,891

968,619

725,802

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

The Report of the Auditors was unqualified.

David Wright FCA (Senior Statutory Auditor)

for and on behalf of DJH Audit Limited

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the reporting entity was due £423,568 (2023 - 621,551) from fellow group companies. In addition the company owed £592,510 (2023 - £615,518) to fellow group companies.

During the year the company made royalty payments to related parties totalling £118,314 (2023 - £110,276). The company also recharged fellow group companies a total of £691,328 (2023 - £963,222) in group overhead costs.

The parent undertaking of the smallest group within which the company belongs and for which group financial statements are prepared is Lambretta Limited, whose registered office address is the same as that of the company.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Innocenti S.A., a company based in Switzerland under company number CH50130109025. The registered office and business address of the company is Vicolo Nassetta 2, CH-6900 Lugano, Switzerland.