REGISTERED NUMBER: 12965105 (England and Wales)

Audited Financial Statements

for the Year Ended

31 December 2024

for

Lambretta Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S D Wilch

W J A Scheffrahn

C Ruamjaipattanakul

REGISTERED OFFICE:

Office 14, Grovelands Business Park

West Haddon Road

East Haddon

Northampton

NN6 8FB

REGISTERED NUMBER:

12965105 (England and Wales)

AUDITORS:

DJH Audit Limited

Statutory Auditors

Church Court

Stourbridge Road

Halesowen

West Midlands

B63 3TT

FIXED ASSETS

Intangible assets

4

450,000

-

Investments

5

8,292,240

1,101

8,742,240

1,101

CURRENT ASSETS

Debtors

6

137,489

249,913

Cash at bank and in hand

48,460

848

185,949

250,761

CREDITORS

Amounts falling due within one year

7

1,536,542

453,937

NET CURRENT LIABILITIES

(1,350,593

)

(203,176

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,391,647

(202,075

)

CREDITORS

Amounts falling due after more than one year

8

7,589,070

-

NET LIABILITIES

(197,423

)

(202,075

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(197,523

)

(202,175

)

(197,423

)

(202,075

)

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 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 are prepared in in Sterling (£) and cover the period to 31st December each year.

Going Concern

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

Royalties received 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 carried at a revalued amount as estimated by the directors of the entity. This amount is subject to an annual review and impairment test, but currently the directors estimate the value to not be materially different to that stated in the financial statements based on the discounted future cash flow relating to the license.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

Additions

450,000

At 31 December 2024

450,000

NET BOOK VALUE

At 31 December 2024

450,000

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

1,101

Additions

8,291,139

At 31 December 2024

8,292,240

NET BOOK VALUE

At 31 December 2024

8,292,240

At 31 December 2023

1,101

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

137,429

138,960

Other debtors

60

110,953

137,489

249,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

49,922

Amounts owed to group undertakings

1,534,358

335,067

Other creditors

2,184

68,948

1,536,542

453,937

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

5,232,802

-

Other creditors

2,356,268

-

7,589,070

-

9.	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

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £6,767,160 (2023 - £335,067) to fellow group companies, and was owed £137,429 (2023: £138,960) by fellow group companies.

11.	ULTIMATE CONTROLLING PARTY

The ultimate holding company 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.