REGISTERED NUMBER: 14850421 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VEONEER UK SAFETY SYSTEMS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M P Heiner Wendels

C A M Quellier

SECRETARY:

Ldc Nominee Secretary Limited

REGISTERED OFFICE:

Coventry University Technology Park

Puma Way

Coventry

West Midlands

CV1 2TT

REGISTERED NUMBER:

14850421 (England and Wales)

SENIOR STATUTORY AUDITOR:

Vivian Shadbolt BSc FCA

INDEPENDENT AUDITORS:

Prime

Chartered Accountants

Statutory Auditor

161 Newhall Street

Birmingham

B3 1SW

CURRENT ASSETS

Debtors

4

167,072

382,842

Cash at bank

17,606

10,033

184,678

392,875

CREDITORS

Amounts falling due within one year

5

144,388

386,977

NET CURRENT ASSETS

40,290

5,898

TOTAL ASSETS LESS CURRENT LIABILITIES

40,290

5,898

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

39,290

4,898

40,290

5,898

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 15 September 2025 and were signed on its behalf by:

C A M Quellier - Director

1.	STATUTORY INFORMATION

Veoneer UK Safety Systems Ltd 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.

Revenue recognition

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

The Company operates a cost recovery model, whereby all costs (other than finance costs) are recharged to members of the group to which the Company belongs.

Certain costs are recharged with no mark-up and others apply a mark-up of 5-7% dependent on their nature.

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.

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.

Leasing commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

151,999

382,042

Other debtors

15,073

800

167,072

382,842

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

5,627

-

Amounts owed to group undertakings

30,055

10,006

Taxation and social security

13,526

1,632

Other creditors

95,180

375,339

144,388

386,977

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

14,004

10,425

Between one and five years

25,484

-

39,488

10,425

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

The Report of the Auditors was unqualified.

Vivian Shadbolt BSc FCA (Senior Statutory Auditor)

for and on behalf of Prime

8.	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.

There are no other related party transactions in the year to disclose.

9.	PARENT AND ULTIMATE PARENT UNDERTAKING

The Company's immediate parent is Veoneer Sweden Safety Systems AB, incorporated in Sweden.

At the reporting date, the parent of the smallest group for which consolidated financial statements including the Company are drawn up is Veoneer Group Holdings, Inc. Its registered office address is 26360 American Drive, Southfield, MI 48034, USA.