Registration number: 10311577

Sweden & Martina Ltd

Contents

Abridged Balance Sheet	1
Notes to the Abridged Financial Statements	2 to 6

Sweden & Martina Ltd

(Registration number: 10311577)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	231,595	259,123
Current assets
Stocks	5	568,724	670,155
Debtors		2,631,271	3,013,463
Cash at bank and in hand		1,133,919	758,773
		4,333,914	4,442,391
Prepayments and accrued income		111,172	166,968
Creditors: Amounts falling due within one year		(5,657,262)	(5,489,259)
Net current liabilities		(1,212,176)	(879,900)
Total assets less current liabilities		(980,581)	(620,777)
Accruals and deferred income		(255,772)	(423,773)
Net liabilities		(1,236,353)	(1,044,550)
Capital and reserves
Called up share capital	6	10,000	10,000
Retained earnings		(1,246,353)	(1,054,550)
Shareholders' deficit		(1,236,353)	(1,044,550)

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 December 2025 and signed on its behalf by:
 

......................................... Mr Alberto Martina Director

Sweden & Martina Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
London
W1G 9DQ

These financial statements were authorised for issue by the Board on 12 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the net liabilities at the year end of £ 1,236,353 (2024 £1,044,550) on the basis the company will be supported, financially, by the parent company to enable the company to meet its financial obligations as and when they fall due.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 23 December 2025 was John Tiltman, who signed for and on behalf of DTL Auditors Ltd.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Sweden & Martina Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture & fittings	25% on a straight line basis
Office equipment	25% on a straight line basis
Plant and machinery	25% on a straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Computer software	25% on a straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Sweden & Martina Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 28).

Sweden & Martina Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 January 2024	7,843	344,085	50,871	402,799
Additions	275	92,440	-	92,715
Disposals	-	(46,842)	-	(46,842)
At 31 December 2024	8,118	389,683	50,871	448,672
Depreciation
At 1 January 2024	6,383	100,267	37,026	143,676
Charge for the year	1,528	99,000	5,531	106,059
Eliminated on disposal	-	(32,658)	-	(32,658)
At 31 December 2024	7,911	166,609	42,557	217,077
Carrying amount
At 31 December 2024	207	223,074	8,314	231,595
At 31 December 2023	1,460	243,818	13,845	259,123

5

Stocks

	2024 £	2023 £
Finished goods and goods for resale	568,724	670,155

6	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £100 each	100	10,000	100	10,000

Sweden & Martina Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

7	Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	22,750	22,750
Later than one year and not later than five years	91,000	91,000
Later than five years	31,280	55,000
	145,030	168,750

8	Parent and ultimate parent undertaking

The company's immediate parent is Sweden & Martina Spa, incorporated in Italy.