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REGISTERED NUMBER: 12326461 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

ANNEL LTD

ANNEL LTD (REGISTERED NUMBER: 12326461)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

ANNEL LTD

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: Ms E Gulko
A H Gulko





REGISTERED OFFICE: 120 Boundary Road
London
E13 9QG





REGISTERED NUMBER: 12326461 (England and Wales)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

ANNEL LTD (REGISTERED NUMBER: 12326461)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,635 6,346
Investment property 5 40,000 40,000
55,635 46,346

CURRENT ASSETS
Debtors 6 9,817 17,951
Cash at bank 50,887 13,378
60,704 31,329
CREDITORS
Amounts falling due within one year 7 74,643 73,161
NET CURRENT LIABILITIES (13,939 ) (41,832 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,696

4,514

PROVISIONS FOR LIABILITIES 3,909 3,168
NET ASSETS 37,787 1,346

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8,458 8,458
Retained earnings 29,229 (7,212 )
SHAREHOLDERS' FUNDS 37,787 1,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 22 July 2024 and were signed on its behalf by:



Ms E Gulko - Director


ANNEL LTD (REGISTERED NUMBER: 12326461)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Annel 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 20% on cost
Computer equipment - 20% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

ANNEL LTD (REGISTERED NUMBER: 12326461)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, which include trade and other creditors and bank loans, are recognised at transaction price.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Computer
property equipment Totals
£    £    £   
COST
At 1 December 2022 6,840 777 7,617
Additions - 11,578 11,578
Disposals - (516 ) (516 )
At 30 November 2023 6,840 11,839 18,679
DEPRECIATION
At 1 December 2022 1,125 146 1,271
Charge for year 1,368 594 1,962
Eliminated on disposal - (189 ) (189 )
At 30 November 2023 2,493 551 3,044
NET BOOK VALUE
At 30 November 2023 4,347 11,288 15,635
At 30 November 2022 5,715 631 6,346

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 40,000
NET BOOK VALUE
At 30 November 2023 40,000
At 30 November 2022 40,000

ANNEL LTD (REGISTERED NUMBER: 12326461)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2021 29,558
Valuation in 2022 10,442
40,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,270 13,429
Other debtors 2,522 2,522
Directors' current accounts - 2,000
VAT 2,025 -
9,817 17,951

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 57,048 68,500
Tax 6,903 -
Social security and other taxes 80 -
VAT - 1,529
Directors' current accounts 10,612 2,768
Accrued expenses - 364
74,643 73,161

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Ms E Gulko
Balance outstanding at start of year (2,767 ) (3,701 )
Amounts advanced 779 21,622
Amounts repaid (5,312 ) (20,688 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,300 ) (2,767 )

A H Gulko
Balance outstanding at start of year 2,000 (3,950 )
Amounts advanced - 5,950
Amounts repaid (5,312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,312 ) 2,000

These amounts bear no interest and have no fixed repayment terms.

ANNEL LTD (REGISTERED NUMBER: 12326461)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

9. RELATED PARTY DISCLOSURES

Annel Spolka Z Organiczona Odpowiedzialnoscia is a company registered in Poland under common control of the directors.

During the year, the company made recharged expenses totalling £70,247 (2022: £NIL) to Annel Spolka Z rganiczona Odpowiedzialnoscia. The company was also recharged a total of £70,000 (2022: £66,700) comprising of management fees, marketing recharges and purchase. There was no balance outstanding in respect of any recharges to or from the company as at the year end (2022: £nil).

No Shame Foundation is a charitable foundation registered in Poland. A director of the company is appointed President of the foundation.

During the year, the company made charitable donations totalling £8,674 (2022: £nil) to the foundation.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are both the directors Elzbieta Gulko and Anna Gulko, the shareholders of Annel Ltd.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ANNEL LTD (REGISTERED NUMBER: 12326461)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Annel Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Annel Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Annel Ltd and state those matters that we have agreed to state to the Board of Directors of Annel Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Annel Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Annel Ltd. You consider that Annel Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Annel Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


22 July 2024