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Registered number: 03538743
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FOR THE YEAR ENDED
31 DECEMBER 2025
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SAXLUND INTERNATIONAL LIMITED
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SAXLUND INTERNATIONAL LIMITED
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COMPANY INFORMATION
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K A Moore (appointed 22 April 2025)
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F Nordling (appointed 22 April 2025)
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Chartered Accountants & Statutory Auditor
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SAXLUND INTERNATIONAL LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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SAXLUND INTERNATIONAL LIMITED
REGISTERED NUMBER:03538743
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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SAXLUND INTERNATIONAL LIMITED
REGISTERED NUMBER:03538743
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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K A Moore
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The notes on pages 3 to 12 form part of these financial statements.
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Saxlund International Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The registered address is the same as the trading address.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Trading performance has declined in the year however management have assessed that the Company remains a going concern.
This assessment is based on the preparations of approved budgets and forecasts, and the Company's expected future trading perfromance.
The directors continually review ongoing contracts and are constantly looking to win new contracts, with several in the pipeline.
Management have consdiered the sensitivity of the forecasts to reasonable possible changes in assumptions and remain satisfied.
Taking this into consideration along with the expected performance over the foreseeable future, the directors consider that the Company has sufficient resources to continue operational existence for this time.
For this reason the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
∙the Company has transferred the significant risks and rewards of ownership to the buyer;
∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the transaction; and
∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Contracts in progress
The Directors have adopted FRS 102 Section 23 - Revenue, which is in accordance with Generally Accepted Accounting Principles (GAAP) in the United Kingdom. This was formerly known as Urgent Issues Task Force (UITF) abstract 40 "Revenue recognition and service contracts" issued by the Accounting Standards Board (ASB).
Where the Company enters into a contractual obligation to be performed over a period of time the revenue is recognised in the income statement as the contract activity progresses to reflect the proportion of the contract undertaken. A provision is made for the full amount of foreseeable losses on contracts.
Contracts in progress balances represent sales or cost of sales in excess of, or the shortfall of the amounts transferred to sales or costs of sales, as appropriate, in respect of work recorded as turnover, less foreseeable losses and payments on account not matched with turnover.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Judgements in applying accounting policies and key sources of estimation uncertainty
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Completion stage of contracts
The majority of contracts are either longer than a year or span the period end. Each month the project director reviews the stage of completion and appropriate levels of revenue and costs are recorded according to this stage of completion, for each contract.
Warranty provision
The provision is calculated on an individual basis, each contract is looked at by the project director and assessed as to what percentage is appropriate. The warranty provision is calculated as a percentage of the revenue held multiplied by the completion percentage. The warranty provision percentage used on recent contracts has been 1%.
Carrying value of deferred tax assets
The Company has recognised a deferred tax asset of £168,269 (2024: £148,269) in respect of trading losses carried forward.
The recognition of this asset is based on management's assessment that it is probable that sufficient future taxable profits will be available against which the losses can be utilised.
This assessment is based on:
∙Approved budgets and forecasts covering the period through to April 2027;
∙Expected future trading performance;
∙The reversal of existing taxable temporary differences; and
∙Available tax planning opportunities where relevant.
Management has considered the sensitivity of the forecasts to reasonable possible changes in the assumptions and remain satisfied that the deferred tax assest remains recoverable.
Should actual future taxable profits differ from current forecasts, the carrying value of the deferred tax asset may require adjustment.
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The average monthly number of employees, including directors, during the year was 8 (2024 - 9).
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charge for the year on owned assets
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Amounts owed by group undertakings
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Prepayments and accrued income
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts recoverable on completed contracts
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Amounts recoverable on on-going contracts
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Contract costs in advance of revenue recognition
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Additional costs on completed contracts where revenue has been recognised
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Additional costs on on-going contracts where revenue has been recognised
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Contract sales in advance of revenue recognition
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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The warranty provision is on a contract by contract basis, however generally this is 1% of contract value x the completion percentage. The usual warranty period is 24 months.
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Related party transactions
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The company has taken advantage of the exemption in Financial Reporting Standard Section 33 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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The company's parent undertaking is Saxlund International Holding AB, a company incorporated in Sweden.
The ultimate parent undertaking of the company is Saxlund Group AB, a company incorporated in Sweden.
The largest and smallest company which prepares group accounts in the Group is Saxlund Group AB.
Consolidated group accounts are available by application from;
Saxlund Group AB
Fannys Vag 3
131 54 Nacka
Sweden
The ultimate controlling party is Saxlund Group AB, by right of its shares in the group.
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SAXLUND INTERNATIONAL LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified.
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In their report, the auditor emphasised the following matter without qualifying their report:
We draw attention to Note 3 to the financial statements, which describes the judgement applied by management in assessing the recoverability of a deferred tax asset of £168,269 as at 31 December 2025. The assessment of recoverability is dependent on management's judgement that it is probable that sufficient future taxable profits will be generated, as reflected in the directors' forecasts.
Our opinion is not modified in respect of this matter.
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The audit report was signed on 20 May 2026 by Stephanie Hawkins FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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