Edomas UK Limited 05754274 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a property company for the SIAE Group in the UK until June 2023 when the property was sold and an intercompany loan from the sale proceeds was made to its parent company SIAE Microelettronica S.p.A. Digita Accounts Production Advanced 6.30.9574.0 true false true 05754274 2023-01-01 2023-12-31 05754274 2023-12-31 05754274 bus:OrdinaryShareClass1 2023-12-31 05754274 core:CurrentFinancialInstruments 2023-12-31 05754274 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05754274 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05754274 core:FurnitureFittingsToolsEquipment 2023-12-31 05754274 core:LandBuildings 2023-12-31 05754274 bus:SmallEntities 2023-01-01 2023-12-31 05754274 bus:Audited 2023-01-01 2023-12-31 05754274 bus:FilletedAccounts 2023-01-01 2023-12-31 05754274 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05754274 bus:RegisteredOffice 2023-01-01 2023-12-31 05754274 bus:CompanySecretary1 2023-01-01 2023-12-31 05754274 bus:Director1 2023-01-01 2023-12-31 05754274 bus:Director2 2023-01-01 2023-12-31 05754274 bus:Director3 2023-01-01 2023-12-31 05754274 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05754274 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05754274 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05754274 core:LandBuildings 2023-01-01 2023-12-31 05754274 1 2023-01-01 2023-12-31 05754274 countries:EnglandWales 2023-01-01 2023-12-31 05754274 2022-12-31 05754274 core:FurnitureFittingsToolsEquipment 2022-12-31 05754274 core:LandBuildings 2022-12-31 05754274 2022-01-01 2022-12-31 05754274 2022-12-31 05754274 bus:OrdinaryShareClass1 2022-12-31 05754274 core:CurrentFinancialInstruments 2022-12-31 05754274 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05754274 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 05754274 core:FurnitureFittingsToolsEquipment 2022-12-31 05754274 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05754274

Edomas UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Edomas UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

Edomas UK Limited

Company Information

Directors

G Mascetti

E Mascetti

A Mascetti

Company secretary

C Young

Registered office

Unit 11
Dakota Business Park
Skyhawk Avenue
Speke Liverpool L19 2QR

Auditors

Williamson & Croft Audit Ltd
Statutory Auditor
York House
20 York Street
Manchester
M2 3BB

 

Edomas UK Limited

(Registration number: 05754274)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

316,796

Investment property

5

-

1,416,970

 

-

1,733,766

Current assets

 

Debtors

6

1,567,526

49,281

Cash at bank and in hand

 

-

13,227

 

1,567,526

62,508

Creditors: Amounts falling due within one year

7

(374,558)

(60,277)

Net current assets

 

1,192,968

2,231

Total assets less current liabilities

 

1,192,968

1,735,997

Creditors: Amounts falling due after more than one year

7

-

(655,505)

Net assets

 

1,192,968

1,080,492

Capital and reserves

 

Called up share capital

8

20,000

20,000

Share premium reserve

1,154,426

1,154,426

Retained earnings

18,542

(93,934)

Shareholders' funds

 

1,192,968

1,080,492

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
G Mascetti
Director

 

Edomas UK Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 11
Dakota Business Park
Skyhawk Avenue
SpekeLiverpoolL19 2QR
United Kingdom

These financial statements were authorised for issue by the Board on 31 July 2024.

2

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

 

Edomas UK Limited

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

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 31 July 2024 was Tor Stringfellow FCA, who signed for and on behalf of Williamson & Croft Audit Ltd.

.........................................

Revenue recognition

Turnover 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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 change in value.

 

Edomas UK Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors 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 debtors 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 creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Edomas UK Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing 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 profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Edomas UK Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

827,925

17,125

845,050

Disposals

(827,925)

(17,125)

(845,050)

At 31 December 2023

-

-

-

Depreciation

At 1 January 2023

511,129

17,125

528,254

Charge for the year

13,799

-

13,799

Eliminated on disposal

(524,928)

(17,125)

(542,053)

At 31 December 2023

-

-

-

Carrying amount

At 31 December 2023

-

-

-

At 31 December 2022

316,796

-

316,796

Included within the net book value of land and buildings above is £Nil (2022 - £316,796) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

At 1 January

1,416,970

Disposals

(1,416,970)

At 31 December

-

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by group undertakings

9

1,538,689

42,764

Prepayments

 

-

6,517

Other debtors

 

28,837

-

   

1,567,526

49,281

 

Edomas UK Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

61,162

-

Trade creditors

 

-

5,815

Taxation and social security

 

308,396

11,352

Accruals and deferred income

 

5,000

43,110

 

374,558

60,277

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

655,505

The above balance represented an interest bearing loan from the parent company SIAE Microelettronica S.p.A. of €740,000 at 31 December 2022. Interest was payable in arrears at a rate equal to Euribor 6 month (365 days) plus 1%.

The loan was repaid in full in the current financial year.

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

20,000

20,000

20,000

20,000

       

9

Related party transactions

The company has taken advantage of the exemption available within FRS 102 Section 1A from disclosing transactions with related parties where each party to the transaction is a wholly owned member of the group.

 

Edomas UK Limited

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

10

Parent and ultimate parent undertaking

The ultimate parent is SIAE Microelettronica S.p.A., incorporated in Italy.

 The most senior parent entity producing publicly available financial statements is SIAE Microelettronica S.p.A. . These financial statements are available upon request from Michelangelo Buonarroti 21, 20093 Cologno Monzese, Milano, Italy.