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REGISTERED NUMBER: 06433506 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

E80 GROUP LTD

E80 GROUP LTD (REGISTERED NUMBER: 06433506)






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


E80 GROUP LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: E Grassi
G Righetti





REGISTERED OFFICE: 1st Floor, Unit C2
The Chase, Foxholes Business Park
John Tate Road
Hertford
SG13 7NN





REGISTERED NUMBER: 06433506 (England and Wales)





AUDITORS: Belluzzo Audit Limited
Chartered Accountants and
Statutory Auditors
38 Craven Street
London
WC2N 5NG

E80 GROUP LTD (REGISTERED NUMBER: 06433506)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,476 -
Tangible assets 5 2,276 17
19,752 17

CURRENT ASSETS
Debtors 6 337,651 302,863
Cash at bank 89,775 116,561
427,426 419,424
CREDITORS
Amounts falling due within one year 7 47,219 53,266
NET CURRENT ASSETS 380,207 366,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

399,959

366,175

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 398,959 365,175
399,959 366,175

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 18 April 2024 and were signed on its behalf by:





G Righetti - Director


E80 GROUP LTD (REGISTERED NUMBER: 06433506)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

E80 Group 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

E80 GROUP LTD (REGISTERED NUMBER: 06433506)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 19,435
At 31 December 2023 19,435
AMORTISATION
Charge for year 1,959
At 31 December 2023 1,959
NET BOOK VALUE
At 31 December 2023 17,476

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 103,043
Additions 2,439
At 31 December 2023 105,482
DEPRECIATION
At 1 January 2023 103,026
Charge for year 180
At 31 December 2023 103,206
NET BOOK VALUE
At 31 December 2023 2,276
At 31 December 2022 17

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,160 2,160
Amounts owed by group undertakings 319,546 286,876
Other debtors 15,945 13,827
337,651 302,863

E80 GROUP LTD (REGISTERED NUMBER: 06433506)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,310 5,364
Taxation and social security 21,319 23,256
Other creditors 22,590 24,646
47,219 53,266

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 9,745 9,384
Between one and five years 17,866 -
27,611 9,384

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

The Report of the Auditors was unqualified.

Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited

10. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is E80 Group S.p.A, a company incorporated in Italy.

Via G Marconi, 23
42030 Viano- Reggio Emilia
Italy (IT)

11. GOING CONCERN

The director believes that there are no material uncertainties that might affect the entity's ability to continue as a going concern based on the assumption that the business will continue to operate into the foreseeable future and for minimum of 12 months from the date that the financial statements are authorised for issue.