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REGISTERED NUMBER: 05551507 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

ISEO UKI LTD

ISEO UKI LTD (Registered number: 05551507)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ISEO UKI LTD

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Finazzi
R Gaspari
C Ciquera



SECRETARY: Pramex International Ltd



REGISTERED OFFICE: 11 Old Jewry
London
EC2R 8DU



REGISTERED NUMBER: 05551507 (England and Wales)



AUDITORS: Constantin
Chartered Accountants and Statutory
Auditors
25 Hosier Lane
London
EC1A 9LQ



BANKERS: NatWest Plc
15 Bishopsgate
London
EC2P 2AP
United Kingdom

ISEO UKI LTD (Registered number: 05551507)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes €    €   
CURRENT ASSETS
Debtors 5 1,196,839 772,509
Cash at bank 2,071,558 2,866,890
3,268,397 3,639,399
CREDITORS
Amounts falling due within one year 6 1,690,746 2,020,820
NET CURRENT ASSETS 1,577,651 1,618,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,577,651

1,618,579

CAPITAL AND RESERVES
Called up share capital 7 1,250 1,250
Retained earnings 1,576,401 1,617,329
SHAREHOLDERS' FUNDS 1,577,651 1,618,579

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2024 and were signed on its behalf by:





R Gaspari - Director


ISEO UKI LTD (Registered number: 05551507)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

ISEO UKI LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

All amounts are rounded to the nearest €.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- Section 7 'Statement of Cash Flows': presentation of a statement of cash flow and related notes and disclosures;
- Section 33 'Related Party Disclosures': compensation for key management personnel;
- Section 33 'Related Party Disclosures': disclosures in respect of transactions with other wholly owned members of the group;
- Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' : disclosures in respect of financial instruments have not been presented;
- Section 26 'Share based Payment' : disclosures in respect of share-based payments have not been presented

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchangeruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of thetransaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences ar dealt with in the Income Statement.

ISEO UKI LTD (Registered number: 05551507)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using theeffective interest method less impairment losses for bad and doubtful debts except where the effect ofdiscounting would be immaterial. In such cases the receivables are stated at cost less impairment losses forbad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost usingthe effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
€   
COST
At 1 January 2023
and 31 December 2023 11,245
DEPRECIATION
At 1 January 2023
and 31 December 2023 11,245
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

ISEO UKI LTD (Registered number: 05551507)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Trade debtors 854,125 559,732
Amounts owed by group undertakings 268,149 160,756
Other debtors 1,668 11,010
Accrued income 22,078 37,614
Prepayments 50,819 3,397
1,196,839 772,509

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
€    €   
Trade creditors 39,141 32,009
Staff Wages 28,092 -
Amounts owed to group undertakings 437,551 743,087
Tax 341,085 196,103
PAYE 21,109 -
VAT 444,032 609,609
Other creditors 2,759 4,372
Accruals 110,185 186,243
Deferred Income 266,792 249,397
1,690,746 2,020,820

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: €    €   
1,250 Ordinary £1 1,250 1,250

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Thierry de Gennes ACA (Senior Statutory Auditor)
for and on behalf of Constantin

9. RELATED PARTY DISCLOSURES

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group undertakings.

ISEO UKI LTD (Registered number: 05551507)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is ISEO SERRATURE SPA, a company registered and incorporated in Italy.
The company's ultimate parent undertaking and ultimate controlling party is GEVA S.R.L., a company registered in Italy.
The company's results are consolidated within the GEVA S.R.L. group financial statements, which can be obtained from the Registered Office Brescia - Piazza Vittoria, 9 ITALY.

11. CONTROLLING INTEREST

The company, being a subsidiary of the Geva SRL Group, is controlled by the Facchinetti family (the ultimate
owner of the Geva SRL Group).

12. GOING CONCERN

The assignment of new projects has further improved the company's performance with the solutions for key customers, operating in energy, telecommunications and transport sectors, increasingly focused on the implementation of access control solutions by using the intelligent keys ("smart keys") to replace old mechanical systems.
Further, the collaboration with Sofia S.r.l., which joined the "Iseo" group in 2021, the management aims to strength its position in access management with integrated solutions.

In assessing whether the going concern basis is appropriate, the directors take into account all available information about the future, which is at least, but is not limited to, 12 months from the date of signing these financial statements.
The financial statements have been prepared on the going concern basis, which the directors believe to be appropriate. The directors continue to monitor the company's funding strategy and have prepared forecasts which underpin the going concern basis for the company.

Considering all the factors, the company concluded that it will continue its operations in the future and that there is no risk of going concern.

13. POST BALANCE SHEET EVENTS

The company has no post balance sheet events