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REGISTERED NUMBER: 11742692 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Obelis Uk Ltd

Obelis Uk Ltd (Registered number: 11742692)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Obelis Uk Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Elkayam
D Elkayam
Ms S G M Ferretti





REGISTERED OFFICE: Sandford Gate East Point Business Park
Oxford
OX4 6LB





REGISTERED NUMBER: 11742692 (England and Wales)





ACCOUNTANTS: Knox & Eames Chartered Accountants
Badgemore House
Badgemore Park
Henley-on-Thames
Oxfordshire
RG9 4NR

Obelis Uk Ltd (Registered number: 11742692)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 905,791 161,314
Cash at bank 690,850 1,682,616
1,596,641 1,843,930
CREDITORS
Amounts falling due within one year 5 683,190 1,172,434
NET CURRENT ASSETS 913,451 671,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

913,451

671,496

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 912,451 670,496
913,451 671,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 23 September 2024 and were signed on its behalf by:





G Elkayam - Director


Obelis Uk Ltd (Registered number: 11742692)

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

1. STATUTORY INFORMATION

Obelis Uk 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 122,697 156,623
Amounts owed by associates 21,959 -
Other debtors 17,635 4,691
162,291 161,314

Amounts falling due after more than one year:
Amounts owed by associates 743,500 -

Aggregate amounts 905,791 161,314

Included in "Amounts owed by Associates" is a loan to Obelis SA in Belgium of £743,500. The director and majority shareholder of Obelis UK, Mr G Elkayam, is also the majority shareholder in Obelis SA. This amount will be repayable over 5 years.

Obelis Uk Ltd (Registered number: 11742692)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 68,208 581,977
Taxation and social security 74,411 83,617
Other creditors 540,571 506,840
683,190 1,172,434

6. RELATED PARTY DISCLOSURES

The subcontracted costs, a portion of the consultancy fees and rent are recharged to Obelis UK from a company in Belgium. This company is also controlled by the controlling director in Obelis UK, Mr G Elkayam. All transactions are under normal market conditions on an arms length basis.