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REGISTERED NUMBER: 13436108 (England and Wales)















Report of the directors and

Unaudited financial statements for the year ended 30 June 2024

For

Afinum Ltd

Afinum Ltd (Registered number: 13436108)






Contents of the financial statements
for the year ended 30 June 2024




Page

Company information 1

Report of the directors 2

Statement of comprehensive income 4

Balance sheet 5

Statement of changes in equity 6

Notes to the financial statements 7


Afinum Ltd

Company information
for the year ended 30 June 2024







Directors: A S Mazzotta
Mrs A E L Ramirez





Secretary: Vistra Cosec Limited





Registered office: Suite 1,
7th Floor, 50 Broadway,
London
SW1H 0BL





Registered number: 13436108 (England and Wales)





Accountants: Equiom (Scotland)
15a Harbour Road
Inverness
INVERNESS-SHIRE
IV1 1SY

Afinum Ltd (Registered number: 13436108)

Report of the directors
for the year ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

Principal activity
The principal activity of the company in the year under review was that of an investment holding company.

Dividends
2024 2023
£ £

loss for financial year (15,753 ) (15,584 )
Amounts carried to reserves (15,753 ) (15,584 )
The directors do not recommend the payment of a dividend.

Directors
The directors who served during the year and to date are:
Audrey Ramirez
Antonio Mazzotta
Ian Petts (resigned 21 July 2023)

Secretary

The secretary who served during the year and to date is:
Vistra Cosec Limited

Statement of directors' responsibilities
The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;
• make judgements and estimates that are reasonable and prudent;
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board:





A S Mazzotta - Director



Afinum Ltd (Registered number: 13436108)

Report of the directors
for the year ended 30 June 2024

4 December 2024

Afinum Ltd (Registered number: 13436108)

Statement of comprehensive income
for the year ended 30 June 2024

2024 2023
£    £   

Turnover - -

Operational expenses (15,989 ) (15,584 )
Operating loss (15,989 ) (15,584 )

Interest receivable and similar income 236 -
Loss before taxation (15,753 ) (15,584 )

Tax on loss - -
Loss for the financial year (15,753 ) (15,584 )

Afinum Ltd (Registered number: 13436108)

Balance sheet
30 June 2024

2024 2023
Notes £    £   
Fixed assets
Investments 5 97,461 97,461

Current assets
Debtors 6 28,295 3,747
Cash at bank 114 1,627
28,409 5,374
Creditors
Amounts falling due within one year 7 (67,075 ) (28,287 )
Net current liabilities (38,666 ) (22,913 )
Total assets less current liabilities 58,795 74,548

Capital and reserves
Called up share capital 103,379 103,379
Retained earnings (44,584 ) (28,831 )
58,795 74,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2024 and were signed on its behalf by:





A S Mazzotta - Director


Afinum Ltd (Registered number: 13436108)

Statement of changes in equity
for the year ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 103,379 (13,247 ) 90,132

Changes in equity
Total comprehensive income - (15,584 ) (15,584 )
Balance at 30 June 2023 103,379 (28,831 ) 74,548

Changes in equity
Total comprehensive income - (15,753 ) (15,753 )
Balance at 30 June 2024 103,379 (44,584 ) 58,795

Afinum Ltd (Registered number: 13436108)

Notes to the financial statements
for the year ended 30 June 2024

1. Statutory information

The principal activity of Afinum Ltd. is that of an investment holding company.

The company is a private company limited by shares and incorporated in the UK. Its registered office is Suite 1, 7th Floor, 50 Broadway, London, SW1H 0BL, United Kingdom. The company's registered number is 13436108.

The financial statements are presented in Sterling, which is the functional currency of the company.

The company has no employees.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparation
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities measured at fair value through the statement of comprehensive income.

Going concern

The company is dependent on the continued financial support of the lenders in order to enable it to continue operating and to meet its liabilities as they fall due. The lenders have agreed to continue to provide financial support to the company and accordingly the directors have prepared the financial statements under the going concern concept.

Expenses

Expenses are recognised on an accruals basis.

Unquoted investments

Unquoted investments are stated at cost. Any surplus or deficit arising on the disposal of investments is transferred to the statement of comprehensive income.

Foreign currency

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end foreign exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.

Afinum Ltd (Registered number: 13436108)

Notes to the financial statements - continued
for the year ended 30 June 2024

4. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

5. Fixed asset investments

2024 2023
£ £

Brought forward 97,461 -
Additions - 97,461
97,461 97,461

Analysed as:
Benoit Afrique Audition SARL - 90 shares of €55,000 46,896 46,896
Kirlin S.A.R.L 20 shares €58,000 50,565 50,565
97,461 97,461
Benoit Afrique Audition SARL
On 26 November 2021 the Company subscribed for 30 shares in Benoit Afrique Audition SARL, representing 5% of the share capital.
On 13 December 2021 the company subscribed for a further 60 shares in Benoit Afrique Audition SARL, representing 10% of the share capital, bringing the total shareholding to 15%.

Kirlin S.A.R.L
On 21 October 2022 the company subscribed for 20 shares in Kirlin representing 20% of the share capital. Kirlin is incorporated in France.

6. Debtors: amounts falling due within one year

20242023
££

Loan receivable - Kirlin S.A.RL.25,420-
Accrued interest receivable237-
Prepayments2,6383,747
28,2953,747

Afinum Ltd (Registered number: 13436108)

Notes to the financial statements - continued
for the year ended 30 June 2024

7. Creditors: amounts falling due within one year

20242023
££

Trade creditors-2,461
Loans payable shareholder loans:
Shankling Holdings Ltd19,9127,332
C.L. Nominees (Monaco)19,8727,332
C.L. SAM Nominees Ltd19,9127,332
Accruals7,3793,830
67,07528,287
The shareholder loan payable are unsecured, interest free and repayable on demand.

8. Share capital

2024 2023
£ £
Ordinary shares of £1 each
Allotted, called up and fully paid

At 1 July and at 30 June - Issued 120,000 shares 103,379 103,379