Registration number:
for the Year Ended 31 March 2026
Playmobil (U.K.) Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Income Statement |
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Statement of Financial Position |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Playmobil (U.K.) Limited
Company Information
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Directors |
J Burmeister V J Kay B Kurter |
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Company secretary |
V J Kay |
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Registered office |
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Solicitors |
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Bankers |
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Auditors |
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Playmobil (U.K.) Limited
Strategic Report for the Year Ended 31 March 2026
The directors present their strategic report for the year ended 31 March 2026.
Principal activity
The principal activity of the company continues to be the distribution of toys on behalf of the Brandstatter Group, of which the company is a wholly owned subsidiary.
Fair review of the business
During the fiscal year, the company continued to operate in a challenging trading environment while completing a period of strategic adjustment. Throughout the year, revenues were derived from the sale of Playmobil branded products.
The year reflected the consequences of a deliberate reset of the customer and commercial model undertaken in prior periods. While necessary to address structural challenges within the business and to reassess the long term product and channel strategy, this reset continued to impact short term turnover. Management remained focused on stabilising customer relationships and maintaining operational resilience during this transition.
The wider market context remained difficult. Consumer spending within the in home entertainment and toys category continued to be constrained as households prioritised essential expenditure and experiential leisure activities. Inflationary pressures, limited real wage growth and subdued consumer confidence resulted in ongoing pressure on discretionary spending. Although market conditions showed some signs of stabilisation compared with previous years, overall demand remained subdued and competition intensified.
Within this environment, the Playmobil brand continued to underperform relative to the total market. The high quality product limits its competitiveness in a climate of heightened price sensitivity, and the absence of strong perceived innovation within the range further constrained sales volumes. As a result, company turnover remained below historical levels during the year.
In response, management maintained a strong focus on inventory control and risk mitigation, ensuring that exposure to slow moving stock was actively managed. This approach was supported by the opening of two outlet stores in late 2025, which provided an effective channel for clearance activity, improved cash conversion, and incremental revenue generation. While the financial contribution from the outlets during the year was limited due to the timing of their opening, early trading performance has been in line with expectations.
Operationally, the company continued to prioritise cost control, cash preservation and working capital discipline. Overheads were closely monitored, and operational processes were streamlined to ensure the business remained scalable and financially resilient despite lower revenue levels.
Marketing efforts will be strategically focused on the channels and touchpoints that generate meaningful brand awareness and generate measurable impact. We will clearly communicate the relevance, differentiation, and value of our products in today’s market, ensuring messaging resonates with our target audiences. These initiatives will be designed to not only elevate brand perception but also to directly support demand generation and drive sales through our key retail partners.
Looking ahead, the directors remain cautiously optimistic. The company enters the fiscal year with a renewed focus, having simplified its operational structure, strengthened the senior management team through the recruitment of experienced personnel, stabilised customer relationships through strategic joint business plans, and expanded its sales channel footprint and product distribution.
The directors believe that the actions taken during the fiscal year have strengthened the company’s underlying resilience and positioned the business more effectively to navigate ongoing market uncertainty. While challenges remain, the company is better equipped to protect cash, manage risk and pursue sustainable improvement in performance.
Playmobil (U.K.) Limited
Strategic Report for the Year Ended 31 March 2026
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2026 |
2025 |
|
Turnover |
£ |
8,081,518 |
9,007,623 |
|
Turnover (reduction) |
% |
(10) |
(26) |
|
Gross profit margin |
% |
27 |
27 |
|
Loss before tax |
£ |
(1,444,573) |
(654,593) |
Principal risks and uncertainties
Price risk, credit risk, liquidity risk and cash flow risk
Cash flow risk
In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility, through the use of the parent company loan, at floating rates of interest.
Credit risk
The company’s financial assets are cash, bank balances, trade and other receivables. The company’s primary credit risk is attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. Where specific receivables are identified as irrecoverable, these are written off. Where specific receivables are viewed as doubtful, these are provided for.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The company assesses the credit ratings of these counterparties on a frequent basis to ensure that any potential credit risk is mitigated.
Liquidity risk
Liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Approved by the Board on 2 July 2026 and signed on its behalf by:
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Playmobil (U.K.) Limited
Directors' Report for the Year Ended 31 March 2026
The directors present their report and the financial statements for the year ended 31 March 2026.
Directors' of the company
The directors, who held office during the year, were as follows:
The following director was appointed after the year end:
Results and dividends
The loss for the year, after taxation, amounted to £1,375,969 (2025: £722,566).
Dividends of £900,000 were declared in the year and settled through loan balances (2025: £Nil).
Future developments
The UK toy market continued to operate in a challenging and competitive environment during the year, with further polarisation into Lego ranges, as well as the Pokémon craze, reflecting ongoing economic uncertainty and cautious consumer sentiment. While inflationary pressures moderated during the period, levels remained elevated compared with historic norms, continuing to impact household discretionary spending.
Market conditions across the sector remained mixed. Retail customers continued to adopt a cautious approach to inventory management; however, increased forward ordering was observed for certain seasonal and promotional events, providing improved short term demand visibility.
The company remains focused on maintaining brand relevance and managing pricing and promotional activity to support sales volumes while preserving its established premium positioning. Pricing structures and promotional plans continue to be reviewed in response to market conditions.
Product development activity remains aligned with identified consumer trends and play patterns. As part of its planning for the 2026/27 financial year, the company intends to further build its core offering around Zoo, Knights and Police, as well as introduce new licensed product ranges under brand licensing partnerships with Mattel and WWE. These initiatives form part of the company’s forward product planning and will be progressed subject to market conditions and operational considerations.
Marketing expenditure during the financial year 2025/26 was focused on established themes with proven consumer relevance. In the 2026/27 financial year, marketing investment is expected to remain targeted and disciplined, including support for the planned introduction of new core ranges as well as licensed ranges under partnerships with Mattel and WWE, with a continued focus on return on investment.
Going concern
The directors have considered the company’s business activities, cash flow forecasts and future prospects. Based on this assessment, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
The company continues to review its cost base and operational efficiency, implementing measures where appropriate to support profitability and cash generation.
Policy and practice on payment of creditors
It is company policy, unless otherwise agreed, to pay suppliers within 30 days of receipt of a valid invoice, provided contractual terms have been satisfied.
Playmobil (U.K.) Limited
Directors' Report for the Year Ended 31 March 2026
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Rödl & Partner Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Approved by the Board on
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Playmobil (U.K.) Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and UK adopted international accounting standards. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• | select suitable accounting policies and apply them consistently; |
• | make judgements and accounting estimates that are reasonable and prudent; |
• | state whether applicable International Financial Reporting Standards (IFRSs) as adopted by the European Union have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• | prepare the 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 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.
Playmobil (U.K.) Limited
Independent Auditor's Report to the Members of Playmobil (U.K.) Limited
Opinion
We have audited the financial statements of Playmobil (U.K.) Limited (the 'company') for the year ended 31 March 2026, which comprise the Profit and Loss Account, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK adopted international accounting standards.
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its loss for the year then ended; |
• | have been properly prepared in accordance with UK adopted IFRSs; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Playmobil (U.K.) Limited
Independent Auditor's Report to the Members of Playmobil (U.K.) Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors’ remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 6], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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Enquiry of management, those charged with governance around actual and potential litigation and claims; |
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Enquiry of entity staff to identify any instances of non-compliance with laws and regulations; |
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; |
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Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Playmobil (U.K.) Limited
Independent Auditor's Report to the Members of Playmobil (U.K.) Limited
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
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Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
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Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion. |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
170 Edmund Street
Birmingham
B3 2HB
Playmobil (U.K.) Limited
Profit and Loss Account for the Year Ended 31 March 2026
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Note |
2026 |
2025 |
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|
Revenue |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Distribution costs |
( |
( |
|
|
Administrative expenses |
( |
( |
|
|
Operating loss |
( |
( |
|
|
Finance income |
|
|
|
|
Finance costs |
( |
( |
|
|
Net finance income |
|
|
|
|
Loss before tax |
( |
( |
|
|
Income tax credit/(expense) |
|
( |
|
|
Loss for the year |
(1,375,969) |
(722,566) |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Playmobil (U.K.) Limited
(Registration number: 01493033)
Statement of Financial Position as at 31 March 2026
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Note |
31 March |
31 March |
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Assets |
|||
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Non-current assets |
|||
|
Property, plant and equipment |
|
|
|
|
Right of use assets |
|
|
|
|
Investment properties |
|
|
|
|
|
|
||
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Current assets |
|||
|
Inventories |
|
- |
|
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Trade and other receivables |
|
|
|
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Cash and cash equivalents |
|
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|
|
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||
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Total assets |
|
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Equity and liabilities |
|||
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Equity |
|||
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Called up share capital |
400,000 |
400,000 |
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Retained earnings |
2,658,530 |
4,934,499 |
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Total equity |
3,058,530 |
5,334,499 |
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|
Non-current liabilities |
|||
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Loans and borrowings |
|
|
|
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Current liabilities |
|||
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Trade and other payables |
890,035 |
1,066,274 |
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Loans and borrowings |
|
|
|
|
|
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||
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Total liabilities |
|
|
|
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Total equity and liabilities |
|
|
|
Approved by the
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Playmobil (U.K.) Limited
Statement of Changes in Equity for the Year Ended 31 March 2026
|
Called up share capital |
Retained earnings |
Total |
|
|
At 1 April 2025 |
|
|
|
|
Loss for the year |
- |
( |
( |
|
Dividends |
- |
( |
( |
|
At 31 March 2026 |
|
|
|
|
Called up share capital |
Retained earnings |
Total |
|
|
At 1 April 2024 |
|
|
|
|
Loss for the year |
- |
( |
( |
|
At 31 March 2025 |
400,000 |
4,934,499 |
5,334,499 |
Playmobil (U.K.) Limited
Statement of Cash Flows for the Year Ended 31 March 2026
|
Note |
2026 |
2025 |
|
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Cash flows from operating activities |
|||
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Operating loss for the year |
(1,644,718) |
(962,153) |
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
(Profit)/loss on disposal of tangible assets |
( |
- |
|
|
( |
( |
||
|
Working capital adjustments |
|||
|
(Increase)/decrease in inventories |
( |
|
|
|
Decrease in trade and other receivables |
|
|
|
|
Decrease in trade and other payables |
( |
( |
|
|
Cash generated from operations |
|
|
|
|
Income taxes received |
|
|
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Proceeds from sale of tangible assets |
|
- |
|
|
Acquisition of tangible assets |
( |
( |
|
|
Rental income |
|
|
|
|
Net cash flows from investing activities |
|
|
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase in cash and cash equivalents |
|
|
|
|
Cash and cash equivalents at 1 April |
865,290 |
610,820 |
|
|
Cash and cash equivalents at 31 March |
1,917,710 |
865,290 |
|
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
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General information |
The company is a private company limited by share capital, incorporated and domiciled in England and Wales.
The address of its registered office is:
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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 financial statements were prepared in accordance with International Financial Reporting Standards and in conformity with the requirements of the Companies Act 2006.
Basis of preparation
These 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.
The presentation currency of these financial statements is Sterling. All amounts have been rounded to the nearest £1.
New standards, interpretations and amendments not yet effective
The following newly issued but not yet effective standards, interpretations and amendments, which have not been applied in these financial statements, will or may have an effect on the company financial statements in future:
• Amendments to the classification and measurement of financial instruments - Amendments to IFRS 9 financial instruments and IFRS 7 financial instruments: Disclosures.
• Annual improvements to IFRS accounting standards- Amendments to:
- IFRS 1 First-time adoption of international financial reporting standards;
- IFRS 7 Financial instruments: Disclosures and its accompanying guidance on implementing IFRS 7;
- IFRS 9 Financial instruments;- IFRS 10 Consolidated financial statements; and
- IAS 7 Statement of cash flows
• Contracts referencing nature-dependent electricity - Amendments to IFRS 9 and IFRS 7.
None of the other standards, interpretations and amendments which are effective for periods beginning after 1 January 2025 and which have not been adopted early, are expected to have a material effect on the financial statements.
Going concern
The company's business activities, together with factors likely to affect its future development and position, are set out above.
The company is expected to continue to generate positive cash flows and as such the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
In order to address the fall in turnover and profitability, the company continues to analyse operations and implement measures to boost productivity whilst ensuring the needs of the business are adequately met.
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Changes in accounting policy
The standards, interpretations and amendments effective for the first time from 1 April 2025 have had a material effect on the financial statements. Refer to Note 24 - Application of new and revised International Financial Reporting Standards (IFRSs).
Retirement benefit costs
Payments to defined contribution retirement plans are charged as an expense as they fall due. Payments to state-managed retirement benefit schemes are dealt with as payments to defined contribution plans where the company's obligations under the schemes are equivalent to those arising in a defined contribution retirement benefit plan.
Revenue recognition
Revenue 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. Revenue is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- goods are delivered
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company activities.
Interest income is accrued on a time basis, by reference to the principle outstanding and at the interest rate applicable.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Property, plant and equipment
Property, plant and equipment is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
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 |
|
Land and buildings |
4% straight line |
|
Motor vehicles |
25% - 33.33% straight line |
|
Furniture, fittings and equipment |
10% - 20% straight line |
|
Computer equipment |
20% - 33.33% straight line |
Investment property
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 changes in value.
Trade receivables
Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business. If collection is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current assets.
Trade receivables 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 receivables 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.
Trade payables
Trade payables 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 payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities.
Trade payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
All borrowings are initially recorded at the amount of proceeds received, net of transaction costs. Borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in finance costs.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.
Rentals payable under operating leases are charged against income on a straight-line basis over the term of the relevant lease.
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the company’s financial statements in the period in which the dividends are approved by the company’s shareholders.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a separate entity and has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
For defined contribution plans contributions are paid publicly or privately administered pension insurance plans on a mandatory or contractual basis. The contributions are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as an asset.
Leases
Definition
A lease is a contract, or a part of a contract, that conveys the right to use an asset or a physically distinct part of an asset (“the underlying asset”) for a period of time in exchange for consideration. Further, the contract must convey the right to the company to control the asset or a physically distinct portion thereof. A contract is deemed to convey the right to control the underlying asset if, throughout the period of use, the company has the right to:
· Obtain substantially all the economic benefits from the use of the underlying asset, and;
· Direct the use of the underlying asset (e.g. direct how and for what purpose the asset is used)
Where contracts contain a lease coupled with an agreement to purchase or sell other goods or services (i.e., non-lease components), the company has made an accounting policy election, by class of underlying asset, to account for both components as a single lease component.
Initial recognition and measurement
The company initially recognises a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term.
The lease liability is measured at the present value of the lease payments to be made over the lease term. The lease payments include fixed payments, purchase options at exercise price (where payment is reasonably certain), expected amount of residual value guarantees, termination option penalties (where payment is considered reasonably certain) and variable lease payments.
The right-of-use asset is initially measured at the amount of the lease liability, adjusted for lease prepayments, lease incentives received, the company’s initial direct costs (e.g., commissions) and an estimate of restoration, removal and dismantling costs.
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Subsequent measurement
After the commencement date, the company measures the lease liability by:
(a) Increasing the carrying amount to reflect interest on the lease liability;
(b) Reducing the carrying amount to reflect the lease payments made; and
(c) Re-measuring the carrying amount to reflect any reassessment or lease modifications or to reflect revised in substance fixed lease payments or on the occurrence of other specific events.
Interest on the lease liability in each period during the lease term is the amount that produces a constant periodic rate of interest on the remaining balance of the lease liability. Interest charges are [presented separately as non-operating /included in finance cost] in the income statement, unless the costs are included in the carrying amount of another asset applying other applicable standards. The difference between lease payments due and those received are included in operating expenses in the period in which the payments are received.
The related right-of-use asset is accounted for using the Cost model in IAS 16 and depreciated and charged in accordance with the depreciation requirements of IAS 16 Property, Plant and Equipment as disclosed in the accounting policy for Property, plant and equipment. Adjustments are made to the carrying value of the right of use asset where the lease liability is re-measured in accordance with the above. Right of use assets are tested for impairment in accordance with IAS 36 Impairment of assets as disclosed in the accounting policy in impairment.
Lease modifications
If a lease is modified, the modified contract is evaluated to determine whether it is or contains a lease. If a lease continues to exist, the lease modification will result in either a separate lease or a change in the accounting for the existing lease.
The modification is accounted for as a separate lease if both:
(a) The modification increases the scope of the lease by adding the right to use one or more underlying assets; and
(b) The consideration for the lease increases by an amount commensurate with the stand-alone price for the increase in scope and any appropriate adjustments to that stand-alone price to reflect the circumstances of the particular contract.
If both of these conditions are met, the lease modification results in two separate leases, the unmodified original lease and a separate lease. The company then accounts for these in line with the accounting policy for new leases.
If either of the conditions are not met, the modified lease is not accounted for as a separate lease and the consideration is allocated to the contract and the lease liability is re-measured using the lease term of the modified lease and the discount rate as determined at the effective date of the modification.
For a modification that fully or partially decreases the scope of the lease (e.g., reduces the square footage of leased space), IFRS 16 requires a lessee to decrease the carrying amount of the right-of-use asset to reflect partial or full termination of the lease. Any difference between those adjustments is recognised in profit or loss at the effective date of the modification.
For all other lease modifications which are not accounted for as a separate lease, IFRS 16 requires the lessee to recognise the amount of the re-measurement of the lease liability as an adjustment to the corresponding right-of-use asset without affecting profit or loss.
Short term and low value leases
The company has made an accounting policy election, by class of underlying asset, not to recognise lease assets and lease liabilities for leases with a lease term of 12 months or less (i.e., short-term leases).
The company has made an accounting policy election on a lease-by-lease basis, not to recognise lease assets on leases for which the underlying asset is of low value.
Lease payments on short term and low value leases are accounted for on a straight line bases over the term of the lease or other systematic basis if considered more appropriate. Short term and low value lease payments are included in operating expenses in the income statement.
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Sub leases
If an underlying asset is re-leased by the company to a third party and the company retains the primary obligation under the original lease, the transaction is deemed to be a sublease. The company continues to account for the original lease (the head lease) as a lessee and accounts for the sublease as a lessor (intermediate lessor). When the head lease is a short term lease, the sublease is classified as an operating lease. Otherwise, the sublease is classified using the classification criteria applicable to Lessor Accounting in IFRS 16 by reference to the right-of-use asset in the head lease (and not the underlying asset of the head lease).
After classification lessor accounting is applied to the sublease.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the Income Statement.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factor that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumption are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimates is revised where the revision affect only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
|
Revenue |
The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the United Kingdom and Ireland.
The analysis of the company's revenue for the year from continuing operations is as follows:
|
2026 |
2025 |
|
|
Sale of goods |
|
|
The analysis of the company's turnover for the year by market is as follows:
|
2026 |
2025 |
|
|
United Kingdom |
|
|
|
Europe |
|
|
|
|
|
|
Operating loss |
Arrived at after charging/(crediting)
|
2026 |
2025 |
|
|
Depreciation expense |
|
|
|
Profit on disposal of property, plant and equipment |
( |
- |
|
Foreign currency losses/(gains) |
7,088 |
(3,629) |
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Finance income/(costs) |
|
2026 |
2025 |
|
|
Finance income |
||
|
Rental income |
|
|
|
Other finance income |
|
|
|
Total finance income |
|
|
|
Finance costs |
||
|
Interest on bank overdrafts and borrowings |
( |
( |
|
Interest on obligations under finance leases and hire purchase contracts |
( |
( |
|
Total finance costs |
( |
( |
|
Net finance income |
|
|
|
Staff costs |
The aggregate payroll costs (including key management personnel costs) were as follows:
|
2026 |
2025 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Other pension costs |
|
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
|
2026 |
2025 |
|
|
Administration and support |
|
|
|
Sales, marketing and distribution |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2026 |
2025 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
|
|
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2026 |
2025 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
|
Auditors' remuneration |
|
2026 |
2025 |
|
|
Other fees to auditors |
||
|
Auditor's remuneration - The audit of the company's annual accounts |
|
|
|
Auditor's remuneration - Other services |
|
|
|
|
|
The company has entered into a liability limitation agreement with the company’s auditor which was approved on 13th April 2026. The principal terms of the agreement are fair and reasonable.
|
Income tax |
Tax charged/(credited) in the income statement
|
2026 |
2025 |
|
|
Current taxation |
||
|
Adjustments in respect of prior periods |
( |
|
|
( |
|
The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:
|
2026 |
2025 |
|
|
Loss before tax |
( |
( |
|
Corporation tax at standard rate |
( |
( |
|
Adjustments to tax charge in respect of previous periods |
( |
|
|
Fixed asset differences |
|
|
|
Expenses not deductible for tax purposes |
( |
|
|
Movement in deferred tax not recognised |
|
|
|
Total tax (credit)/charge |
( |
|
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
Deferred tax
Deferred tax assets and liabilities
|
2026 |
Asset |
Liability |
|
Fixed asset timing differences |
|
- |
|
Losses and other deductions |
- |
|
|
|
|
|
2025 |
Asset |
Liability |
|
Fixed asset timing differences |
|
- |
|
Losses and other deductions |
- |
|
|
|
|
|
Investment properties |
|
2026 |
2025 |
|
|
Cost |
||
|
At 1 April |
|
|
|
At 31 March |
|
|
|
Depreciation |
||
|
At 1 April |
|
|
|
Depreciation charge |
|
|
|
At 31 March |
|
|
|
Carrying amount |
||
|
At 31 March |
|
|
|
Stocks |
|
31 March |
31 March |
|
|
Stocks |
|
- |
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Trade and other receivables |
|
Due within one year |
Note |
2026 |
(As restated) |
|
Trade receivables |
706,152 |
880,768 |
|
|
Other receivables |
|
|
|
|
Amounts due from related parties |
|
|
|
|
Prepayments |
|
|
|
|
VAT asset |
1,701 |
122,785 |
|
|
Corporation tax asset |
631 |
155,674 |
|
|
|
|
The company does not hold any collateral over the above and the directors consider that the carrying amount of trade and other receivables approximates to their fair value.
|
Age of trade receivables that are past due but not impaired |
||
|
2026 |
2025 |
|
|
0 to 30 days |
|
|
|
30 to 90 days |
|
|
|
90 days + |
|
( |
|
|
|
|
Cash and cash equivalents |
|
2026 |
2025 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
Trade and other payables |
|
Due within one year |
Note |
31 March |
31 March |
|
Trade payables |
|
|
|
|
Amounts due to related parties |
|
|
|
|
Accrued expenses |
|
|
|
|
Social security and other taxes |
|
|
|
|
Other payables |
|
|
|
|
|
|
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Loans and borrowings |
|
31 March |
31 March |
|
|
Non-current loans and borrowings |
||
|
Finance lease liabilities |
|
|
|
31 March |
31 March |
|
|
Current loans and borrowings |
||
|
Finance lease liabilities |
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
31 March |
31 March |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
400,000 |
|
400,000 |
|
Dividends |
Interim dividends paid
|
31 March |
31 March |
|||
|
Interim dividend of £ |
|
- |
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £70,136 (2025: £56,314).
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Financial instruments |
|
Financial assets |
|
Categories of financial instruments |
|
Carrying value |
Fair value |
|||
|
31 March |
31 March |
31 March |
31 March |
|
|
£ |
£ |
£ |
£ |
|
|
Cash and cash equivalents |
1,917,710 |
865,290 |
1,917,710 |
865,290 |
|
Trade and other receivables |
1,393,844 |
5,165,041 |
1,393,844 |
5,165,041 |
|
|
|
|
|
|
|
Financial liabilities |
|
Financial liabilities at amortised cost |
|
Carrying value |
Fair value |
|||
|
2026 |
2025 |
2026 |
2025 |
|
|
£ |
£ |
£ |
£ |
|
|
Trade and other payables |
1,760,295 |
1,731,973 |
1,760,295 |
1,731,973 |
|
Right of use assets |
|
Machinery |
Building |
Vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 April 2025 |
|
|
|
|
|
Additions |
- |
|
- |
|
|
Reclassification |
342 |
6,449 |
(6,791) |
- |
|
At 31 March 2026 |
|
|
|
|
|
Depreciation |
||||
|
At 1 April 2025 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
At 31 March 2026 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 March 2026 |
|
|
|
|
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Property, plant and equipment |
|
Furniture, fittings and equipment |
Motor vehicles |
Computer equipment |
Total |
|
|
Cost |
||||
|
At 1 April 2025 |
|
33,000 |
|
|
|
Additions |
|
- |
|
|
|
Disposals |
( |
(33,000) |
( |
( |
|
At 31 March 2026 |
|
- |
|
|
|
Depreciation |
||||
|
At 1 April 2025 |
|
33,000 |
|
|
|
Charge for the year |
|
- |
|
|
|
Eliminated on disposal |
( |
(33,000) |
( |
( |
|
At 31 March 2026 |
|
- |
|
|
|
Carrying amount |
||||
|
At 31 March 2026 |
|
- |
|
|
|
At 31 March 2025 |
22,744 |
- |
11,583 |
34,327 |
|
Post balance sheet event |
|
|
|
Obligations under leases and hire purchase contracts |
IFRS 16 leases
Maturity analysis of lease liabilities:
|
2026
|
|
|
Within one year |
294,456 |
|
In two to five years |
590,230 |
|
Discounting |
(14,686) |
|
|
|
2025 |
|
|
Within one year |
244,319 |
|
In two to five years |
499,648 |
|
Discounting |
(78,268) |
|
|
Playmobil (U.K.) Limited
Notes to the Financial Statements for the Year Ended 31 March 2026
|
Related party transactions |
Playmobil (UK) Limited purchased goods for resale/promotion materials and recharges to the value of £4,455,082 (2025: £5,219,761) from Geobra Brandstaetter Stiftung & Co. KG, a fellow subsidiary, during the year. The balance due to Geobra Brandstaetter Stiftung & Co. KG at 31 March 2026 was £331,540 (2025: £744,988). Interest of £202,672 (2025: £308,897) was received from Horst Brandstaetter Holding GmbH, during the year. Interest of £18,233 (2025: £24,018) was paid to Horst Brandstaetter Holding GmbH, during the year. The balance due from Horst Brandstaetter Holding GmbH at 31 March 2026 was £576,540 (2025: £3,879,673).
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
|
Application of new and revised International Financial Reporting Standards (IFRSs) |
New and revised standards and interpretations applied with material effects on the financial statements
The following new and revised Standards and Interpretations have been issued and effective for the current financial period of the company. The application of these new and revised Standards and Interpretations have had a material impact on the amounts reported for the current year.
|
Standard or Interpretation |
Effective for annual periods commencing on or after |
New and revised standards and interpretations in issue but not yet effective
|
Amendments to the classification and measurement of financial instruments – Amendments to IFRS 9 financial instruments and IFRS 7 financial instruments: Disclosures |
1 January 2026 |
|
|
Annual improvements to IFRS accounting standards – Amendments to: |
1 January 2026 |
|
|
- IFRS 1 First-time adoption of international financial reporting standards; |
||
|
- IFRS 7 Financial instruments: Disclosures and its accompanying guidance on implementing IFRS 7; |
||
|
- IFRS 9 Financial instruments; |
||
|
- IFRS 10 Consolidated financial statements; and |
||
|
- IAS 7 Statement of cash flows |
||
|
Contracts referencing nature-dependent electricity – Amendments to IFRS 9 and IFRS 7 |
1 January 2026 |