REGISTERED NUMBER: 01840612 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Firmac Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

J C Johnsson

O H Ranstam

S J L Ynner

Registered office:

Elge House

Hopper Hill Road

Eastfield

Scarborough

North Yorkshire

YO11 3YS

Registered number:

01840612 (England and Wales)

Senior statutory auditor:

Timothy Jones FCA

Auditors:

Ashby Berry Coulsons Limited

Statutory Auditors

2 Belgrave Crescent

Scarborough

North Yorkshire

YO11 1UB

Fixed assets

Tangible assets

4

2,202,045

2,258,074

Current assets

Stocks and work in progress

4,308,983

3,177,201

Debtors

5

347,544

490,550

Cash at bank and in hand

256,481

459,626

4,913,008

4,127,377

Creditors

Amounts falling due within one year

6

4,318,897

3,712,407

Net current assets

594,111

414,970

Total assets less current liabilities

2,796,156

2,673,044

Capital and reserves

Called up share capital

7

9,000

9,000

Retained earnings

8

2,787,156

2,664,044

Shareholders' funds

2,796,156

2,673,044

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 23 September 2025 and were signed on its behalf by:

J C Johnsson - Director

1.	Statutory information

Firmac 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.

Firmac Limited is a wholly owned subsidiary of Lindab International AB which is listed on Stockholm's stock exchange.

The results of Firmac Limited are included in the consolidated financial statements of the group available to the public on www.lindab.com

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.

Turnover

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

When the outcome of a contract can be measured reliably, the entity will recognise both income and costs by reference to the percentage of completion of the contract. If the outcome cannot be reliably measured, all costs are expensed and revenue is only recognised to the extent that it is probable that costs are recoverable.

When it is probable that a loss will occur on a contract, this is recognised in full immediately as an onerous contract provision.

Tangible fixed assets

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

Land and buildings

-

2.5% Straight Line on revaluation amount

Plant and machinery etc

-

33.33% on cost, 25% on cost, 20% on cost and 10% on cost

Stocks

Stocks and work in progress and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks and work in progress to their present location and condition.

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.

Hire purchase and leasing commitments

Rentals paid 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.

Going concern

The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist. They expect that the income received by the company going forward, together with its existing reserves, will be sufficient to enable it to continue as a going concern for a period of at least 12 months from the date of signing of these financial statements.

3.	Employees and directors

The average number of employees during the year was 39 (2023 - 37 ) .

4.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Cost

At 1 January 2024

2,050,000

925,573

32,123

Additions

-

4,943

4,049

At 31 December 2024

2,050,000

930,516

36,172

Depreciation

At 1 January 2024

-

733,232

32,123

Charge for year

40,762

19,946

748

At 31 December 2024

40,762

753,178

32,871

Net book value

At 31 December 2024

2,009,238

177,338

3,301

At 31 December 2023

2,050,000

192,341

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 January 2024

14,192

123,806

3,145,694

Additions

-

1,907

10,899

At 31 December 2024

14,192

125,713

3,156,593

Depreciation

At 1 January 2024

14,192

108,073

887,620

Charge for year

-

5,472

66,928

At 31 December 2024

14,192

113,545

954,548

Net book value

At 31 December 2024

-

12,168

2,202,045

At 31 December 2023

-

15,733

2,258,074

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

204,397

495,617

Bad debt provision

(9,282

)

(22,345

)

Amounts owed by group undertakings

5,292

-

VAT

1,702

-

Prepayments and accrued income

145,435

17,278

347,544

490,550

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

-

196,698

Other loans

900,000

-

Trade creditors

222,584

457,993

Tax

67,329

350,000

Social security and other taxes

49,303

43,395

VAT

-

29,332

Other creditors

44,583

28,998

Income received in advance

2,937,636

2,538,950

Accruals and deferred income

97,462

67,041

4,318,897

3,712,407

Included in other loans is interest bearing loan from its parent company, Lindab.

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

9,000

Ordinary

£1

9,000

9,000

8.

Reserves

Retained

earnings

£

At 1 January 2024

2,664,044

Profit for the year

123,112

At 31 December 2024

2,787,156

9.	Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Timothy Jones FCA (Senior Statutory Auditor)

for and on behalf of Ashby Berry Coulsons Limited

10.	Contingent liabilities

The bank loans and overdrafts are jointly secured by a multilateral guarantee in the names of Firmac Limited, Firth Sheet Metal Limited and Firmac Engineering Services Limited.

11.	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 were no related party transactions other than those already disclosed in these financial statements.

12.	Controlling party

The company's immediate parent undertaking is Lindab AB, company registered in Sweden.

The ultimate parent undertaking and controlling party is Lindab International AB, company registered in Sweden.

The largest and smallest group in which the results of the company are consolidated is Lindab International AB, a company registered in Sweden, SE-269 82 Båstad. The consolidated financial statements of this group are available from Lindab International AB's registered address, Järnvägsgatan 41, Grevie Båstad, Sweden 269-82. Lindab AB and Lindab International AB share the same registered office.