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REGISTERED NUMBER: 11599132 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

U-EARTH BIOTECH LTD

U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


U-EARTH BIOTECH LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs E Maggio





REGISTERED OFFICE: 172 Fulham Road
London
SW10 9PR





REGISTERED NUMBER: 11599132 (England and Wales)





ACCOUNTANTS: B&P Tax Legal Finance LLP
38 Craven Street
London
WC2N 5NG

U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes €    €   
FIXED ASSETS
Intangible assets 4 695,091 677,172
Tangible assets 5 450,935 666,625
Investments 6 342,566 335,538
1,488,592 1,679,335

CURRENT ASSETS
Stocks 3,246,610 3,220,840
Debtors 7 4,161,493 3,223,145
Prepayments and accrued income 6,108 -
Cash at bank and in hand 425,463 2,874,261
7,839,674 9,318,246
CREDITORS
Amounts falling due within one year 8 (2,127,138 ) (2,357,832 )
NET CURRENT ASSETS 5,712,536 6,960,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,201,128

8,639,749

PROVISIONS FOR LIABILITIES (2,638,558 ) (2,226,866 )
NET ASSETS 4,562,570 6,412,883

CAPITAL AND RESERVES
Called up share capital 9 105 105
Share premium 2,055,453 1,668,881
Other reserves (74,891 ) (74,891 )
Retained earnings 2,581,903 4,818,788
SHAREHOLDERS' FUNDS 4,562,570 6,412,883

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 director acknowledges her 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.

U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 1 March 2025 and were signed by:





Mrs E Maggio - Director


U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

U-Earth Biotech 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.

These accounts are prepared as they were at the date of the original accounts.

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.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Office equipment: 33.33% SL
Furniture & Fixtures: 25% SL
Plant & Machinery: 25% SL

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
€   
COST
At 1 January 2023 777,368
Additions 105,848
Disposals (10,600 )
At 31 December 2023 872,616
AMORTISATION
At 1 January 2023 100,196
Charge for year 87,261
Eliminated on disposal (2,444 )
Exchange differences (7,488 )
At 31 December 2023 177,525
NET BOOK VALUE
At 31 December 2023 695,091
At 31 December 2022 677,172

U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
€    €    €   
COST
At 1 January 2023 313,882 682,128 996,010
Additions 745 1,904 2,649
Disposals (93,213 ) - (93,213 )
Exchange differences - 686 686
At 31 December 2023 221,414 684,718 906,132
DEPRECIATION
At 1 January 2023 108,116 221,269 329,385
Charge for year 44,283 118,321 162,604
Eliminated on disposal (37,424 ) - (37,424 )
Exchange differences - 632 632
At 31 December 2023 114,975 340,222 455,197
NET BOOK VALUE
At 31 December 2023 106,439 344,496 450,935
At 31 December 2022 205,766 460,859 666,625

6. FIXED ASSET INVESTMENTS

2023 2022
€    €   
Shares in group undertakings 24,594 19,873
Loans to group undertakings 70,048 72,922
Other investments not loans 247,924 242,743
342,566 335,538

Additional information is as follows:
Shares in
group Other
undertakings investments Totals
€    €    €   
COST
At 1 January 2023 19,873 242,743 262,616
Additions 4,296 - 4,296
Exchange differences 425 5,181 5,606
At 31 December 2023 24,594 247,924 272,518
NET BOOK VALUE
At 31 December 2023 24,594 247,924 272,518
At 31 December 2022 19,873 242,743 262,616

U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. FIXED ASSET INVESTMENTS - continued
Loans to
group
undertakings
€   
At 1 January 2023 72,922
Other movement (2,874 )
At 31 December 2023 70,048

The company holds 100% shares in U-earth Italy srl purchased at transaction price of € 10,000.

7. DEBTORS
2023 2022
€    €   
Amounts falling due within one year:
Trade debtors 308,885 381,781
Amounts owed by group undertakings 3,007,046 1,925,865
Other debtors 758,778 750,839
VAT 10,999 53,195
Prepayments and accrued income 51,170 82,213
4,136,878 3,193,893

Amounts falling due after more than one year:
Other debtors 24,615 29,252

Aggregate amounts 4,161,493 3,223,145

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
€    €   
Trade creditors 1,008,313 1,279,309
Amounts owed to group undertakings 134,419 -
Tax - 1
Social security and other taxes 3,076 472,519
Other creditors 699,239 257,031
Accruals and deferred income 282,091 348,972
2,127,138 2,357,832

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: €    €   
9,780,000 ORDINARY 0.00001 98 98
634,491 ORDINARY ANGEL 0.00001 6 6
95,834 ORDINARY CROWD 0.00001 1 1
105 105

U-EARTH BIOTECH LTD (REGISTERED NUMBER: 11599132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs E Maggio.