Konstsmide (U.K.) Limited Filleted accounts for Companies House (small and micro)

STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS

All of the members of Konstsmide (U.K.) Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 01783495

KONSTSMIDE (U.K.) LIMITED

FILLETED ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2025

KONSTSMIDE (U.K.) LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

YEAR ENDED 31 DECEMBER 2025

The directors are responsible for preparing the directors' report and the abridged financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare abridged financial statements for each financial year. Under that law the directors have elected to prepare the abridged financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the abridged financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these abridged financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the abridged financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the abridged financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KONSTSMIDE (U.K.) LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION

31 December 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Intangible assets	6	189,057	–
Tangible assets	7	62,687	2,349,102
		------------	--------------
		251,744	2,349,102

Current assets

Stocks	840,613	1,769,084
Debtors	649,598	768,106
Cash at bank and in hand	715,160	43,491
	--------------	--------------
	2,205,371	2,580,681

Creditors: amounts falling due within one year	2,614,043		3,528,854
	--------------		--------------
Net current liabilities		408,672		948,173
		------------		--------------
Total assets less current liabilities		( 156,928)		1,400,929

Provisions

Taxation including deferred tax	–	220,467
	------------	--------------
Net (liabilities)/assets	( 156,928)	1,180,462
	------------	--------------

Capital and reserves

Called up share capital	50,000	50,000
Revaluation reserve	–	1,606,576
Profit and loss account	( 206,928)	( 476,114)
	------------	--------------
Shareholders (deficit)/funds	( 156,928)	1,180,462
	------------	--------------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

KONSTSMIDE (U.K.) LIMITED

ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)

31 December 2025

These abridged financial statements were approved by the board of directors and authorised for issue on 26 June 2026 , and are signed on behalf of the board by:

C O Johansson

Director

Company registration number: 01783495

KONSTSMIDE (U.K.) LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hardwick View Road, Holmewood Industrial Estate, Holmewood, Chesterfield, Derbyshire, S42 5SA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have assessed the company's ability to continue as a going concern significantly in light of plans to scale back the company's operations. They are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements No significant judgements were made by management in applying the entity's accounting policies that had a material effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - As disclosed in note 12 of the accounts the company has recognised a provision to write down stock where the carrying amount exceeded estimated net realisable value, based on management’s assessment of expected future sales and obsolescence. - As disclosed in note 13 of the accounts the company has recognised a provision against trade debtors where management have assessed the amounts not to be recoverable.

Revenue recognition

The Turnover shown in the profit and loss account represents the realisable value of goods and services provided during the year, net of discounts and exclusive of Value Added Tax.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Computer Software	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	2% straight line
Plant & Machinery	-	12% straight line
Fixtures & Fittings	-	12% straight line
Motor Vehicles	-	20% straight line

	Computer Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Material uncertainly related to going concern

The financial statements have been prepared on a going concern basis.

Prior to the year end, the directors approved a plan to significantly scale down the company's operations. This involved reducing sales activity to a minimal level within the next twelve months, alongside making employees redundant. The directors' expectation was that all liabilities including those arising from the cessation of trade and related redundancies, would be settled in full as they fall due. The were no plans to enter liquidation or any other formal insolvency process and the plan was always that the company would retain the ability to recommence trading in the future should suitable opportunities arise.

Subsequent to the year end, the directors have observed a higher than anticipated level of continued demand from customers. As a result, the group has reassessed its strategy and now intends that the company will continue to trade at a reduced level with its operations primarily managed by the groups head office. Cash flow forecasts and budgets have been prepared, which indicate that the revised operations are expected to generate positive cash flows. In addition, that company has received confirmation of continued financial and non-financial support from its ultimate parent undertaking, Gunnar Johansson Gruppen AB, for at least twelve months from the date of approval of these financial statements.

The company's ability to continue as a going concern is dependent on the successful delivery of this revised strategy, its ability to generate sufficient cash inflows, and the continued support of its ultimate parent undertaking.

These conditions give rise to a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. Nevertheless, after considering the forecasts prepared, the company's expected ability to meet its obligations and the support available from the parent undertaking, the directors consider it appropriate to prepare the financial statements on a going concern basis.

5. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2024: 10 ).

6. Intangible assets

	£
Cost
At 1 January 2025	–
Additions	206,244
	------------
At 31 December 2025	206,244
	------------
Amortisation
At 1 January 2025	–
Charge for the year	17,187
	------------
At 31 December 2025	17,187
	------------
Carrying amount
At 31 December 2025	189,057
	------------
At 31 December 2024	–
	------------

7. Tangible assets

	£
Cost
At 1 January 2025	2,572,565
Additions	4,305
Disposals	( 2,377,024)
	--------------
At 31 December 2025	199,846
	--------------
Depreciation
At 1 January 2025	223,463
Charge for the year	73,681
Disposals	( 159,985)
	--------------
At 31 December 2025	137,159
	--------------
Carrying amount
At 31 December 2025	62,687
	--------------
At 31 December 2024	2,349,102
	--------------

Tangible assets held at valuation

The freehold land and building were revalued on 16 October 2024 on a fair value basis by Sanderson Weatherall LLP, a firm on independent Chartered Surveyors, at £2,250,000. The several values of the cost figure are:


		£
	Historical cost	810,268
	Valuation made in 2024	1,439,732
		--------------
		2,250,000
		--------------

The property was subsequently sold on 19 December 2025.

8. Financial instruments

During the year the company entered into forward foreign currency contracts in order to mitigate the exchange rate risk for certain foreign currency payables. At 31 December 2025 the company had no outstanding commitments. At the 31 December 2024 the company was committed to buy USD140,0000 at a fixed sterling amount of £106,809 which matured within 5 months of the year end.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	148,922	5,042
Later than 1 year and not later than 5 years	1,230	3,690
	------------	------------
	150,152	8,732
	------------	------------

10. Contingencies

There is a guarantee and indemnity in place from Gunnar Johansson Gruppen AB, the ultimate parent company, in favour of Nordea Bank AB.

11. Events after the end of the reporting period

Prior to the year end, the company commenced a formal redundancy consultation process as part of its plans to scale back operations. As a result of this process, the company has recognised a provision for redundancy costs of £75,882 in the financial statements. All related liabilities were met in early 2026.

12. Summary audit opinion

The auditor's report dated 26 June 2026 was unqualified .

The senior statutory auditor was David Jonathan Hanby FCCA , for and on behalf of Langard Lifford Hall Limited .

13. Controlling party

The company is a wholly owned subsidiary of Gnosjö Konstsmide AB , but is controlled by the ultimate parent company, Gunnar Johansson Gruppen AB, which is incorporated in Sweden. The largest and smallest group for which consolidated financial statements are prepared is Gunnar Johansson Gruppen AB, which is incorporated in Sweden. Copies of the consolidated financial statements are filed on public record and are available from Box 54, S-335 22, Gnosjö, Sweden.