| Carlo Gavazzi UK Limited |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearest £.
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Going concern |
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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. |
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Turnover |
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Turnover represents amounts receivable for goods net of VAT and trade discounts. Turnover in respect of all sales is recognised in the financial statements on the date of invoicing which usually coincides with the dispatch of goods. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Long leasehold property |
Over the lease term |
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Fixtures and fittings |
2 - 10 years straight line |
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Motor vehicles |
4 years straight line |
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Inventories |
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Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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The company has early adopted the amendments to FRS 102 Section 20 in respect of lease accounting. At the commencement date of a lease, the company recognises a right-of-use asset and a corresponding lease liability for leases other than short-term leases and leases of low-value assets. The lease liability is initially measured at the present value of future lease payments discounted using the interest rate implicit in the lease or, where this cannot readily be determined, the company’s incremental borrowing rate. The right-of-use asset is initially measured at the amount of the lease liability adjusted for lease payments made at or before commencement date, initial direct costs and any restoration obligations. Right-of-use assets are depreciated over the shorter of the lease term and the useful economic life of the asset. Lease liabilities are subsequently measured using the effective interest method. Payments relating to short-term leases and leases of low-value assets are recognised in profit or loss on a straight-line basis over the lease term. |
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Pensions |
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The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
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| 2 |
Employees and directors |
2026 |
|
2025 |
| Number |
Number |
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Average number of directors and persons employed by the company |
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11 |
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12 |
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| 3 |
Tangible fixed assets |
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Long leasehold property |
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Fixtures & fittings |
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Leased motor vehicles |
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Total |
| £ |
£ |
£ |
£ |
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Cost |
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At 1 April 2025 |
- |
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60,108 |
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140,930 |
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201,038 |
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Additions |
248,738 |
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7,598 |
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- |
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256,336 |
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Disposals |
- |
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(7,767) |
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(20,217) |
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(27,984) |
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At 31 March 2026 |
248,738 |
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59,939 |
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120,713 |
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429,390 |
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Depreciation |
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At 1 April 2025 |
- |
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54,456 |
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57,659 |
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112,115 |
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Charge for the year |
78,931 |
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7,037 |
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31,902 |
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117,870 |
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On disposals |
- |
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(7,767) |
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(12,188) |
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(19,955) |
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At 31 March 2026 |
78,931 |
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53,726 |
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77,373 |
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210,030 |
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Net book value |
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At 31 March 2026 |
169,807 |
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6,213 |
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43,340 |
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219,360 |
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At 31 March 2025 |
- |
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5,652 |
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83,271 |
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88,923 |
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| 4 |
Debtors |
2026 |
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2025 |
| £ |
£ |
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Trade debtors |
653,178 |
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691,734 |
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Prepayments |
27,626 |
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23,916 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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69,057 |
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- |
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749,861 |
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715,650 |
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| 5 |
Creditors: amounts falling due within one year |
2026 |
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2025 |
| £ |
£ |
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Obligations under finance lease and hire purchase contracts |
79,140 |
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37,971 |
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Trade creditors |
76,001 |
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760 |
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Accruals |
134,920 |
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190,485 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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254,999 |
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256,306 |
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Corporation tax |
86,927 |
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80,167 |
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Other taxes and social security costs |
194,153 |
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218,739 |
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Other creditors |
4,852 |
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4,003 |
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830,992 |
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788,431 |
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| 6 |
Creditors: amounts falling due after one year |
2026 |
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2025 |
| £ |
£ |
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Obligations under finance lease and hire purchase contracts |
152,507 |
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51,518 |
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| 7 |
Finance lease obligations |
2026 |
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2025 |
| £ |
£ |
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Creditors include: |
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Payable within one year |
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79,140 |
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37,971 |
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Payable between two and five years |
152,507 |
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51,518 |
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231,647 |
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89,489 |
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The company leases its trading premises under a long-term property lease. The lease contains no significant variable rental payments, residual value guarantees or restrictive covenants. Depreciation of £114,647 and interest paid of £29,122 relates to right of use assets. |
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| 8 |
Related party transactions |
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The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company. |
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| 9 |
Controlling party |
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The immediate parent company is Carlo Gavazzi Participation Danmark A/S, a company registered in Denmark. The directors regard Carlo Gavazzi Holding AG, a company registered in Switzerland, as the ultimate parent company and ultimate controlling party. Copies of the ultimate parent company's consolidated financial statements may be obtained from the Secretary, Carlo Gavazzi Automation SpA, Via Milano 13, Lainate (MI), 1-20020, Italy. |
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| 10 |
Other information |
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Carlo Gavazzi UK Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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4.4 Frimley Business Park |
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Frimley |
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Camberley |
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Surrey |
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GU16 7SG |
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| 11 |
Auditors' information |
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The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.
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The audit report was signed on |
01/07/2026 |
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by Thomas McManners (Senior statutory auditor) on behalf of |
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TTCA Ltd Chartered Accountants and Statutory Auditors. |