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Registration number: 07285436

Ekium UK Limited (Formerly SNEF UK Limited)

Financial Statements

for the Year Ended 31 December 2024

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

Ekium UK Limited (Formerly SNEF UK Limited)

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

Ekium UK Limited (Formerly SNEF UK Limited)

Company Information

Director

O Jouven

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Auditor

Brebners
Chartered Accountants & Statutory Auditor
London
W1D 5AR

 

Ekium UK Limited (Formerly SNEF UK Limited)

Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

496

625

Current assets

 

Debtors

6

99,128

90,969

Cash at bank and in hand

 

34,203

15,031

 

133,331

106,000

Creditors: Amounts falling due within one year

7

(306,564)

(238,158)

Net current liabilities

 

(173,233)

(132,158)

Net liabilities

 

(172,737)

(131,533)

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

(182,737)

(141,533)

Shareholders' deficit

 

(172,737)

(131,533)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within part 15 of Companies Act 2006 and in accordance with FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 14 April 2025
 

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

O Jouven

Director

Company registration number: 07285436

 

Ekium UK Limited (Formerly SNEF UK Limited)

Notes to the Financial Statements for the Year Ended 31 December 2024

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:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of engineering services.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 14 April 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a loss for the year ended 31 December 2024 and had net liabilities of £172,737 at that date.

The company is reliant upon support from its parent company to who an amount of £261,064 was due at 31
December 2024 and who have confirmed it will not call for repayment of the amount due until such time as the
company has adequate working capital and to provide further working capital if required.

On the basis of the above, the director believes that the company has adequate resources to continue in
operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern
basis in preparing the financial statements.

 

Ekium UK Limited (Formerly SNEF UK Limited)

Notes to the Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Office equipment

25% straight line

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4

Staff numbers

The average number of persons employed by the company during the year, was 3 (2023 - 2).

 

Ekium UK Limited (Formerly SNEF UK Limited)

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

925

925

Additions

104

104

At 31 December 2024

1,029

1,029

Depreciation

At 1 January 2024

300

300

Charge for the year

233

233

At 31 December 2024

533

533

Carrying amount

At 31 December 2024

496

496

At 31 December 2023

625

625

6

Debtors

2024
£

2023
£

Trade debtors

70,814

76,059

Other debtors

28,314

14,910

99,128

90,969

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

528

-

Amounts owed to group undertakings

261,064

201,047

Taxation and social security

16,143

13,133

Accruals and deferred income

27,519

23,339

Other creditors

1,310

639

306,564

238,158

 

Ekium UK Limited (Formerly SNEF UK Limited)

Notes to the Financial Statements for the Year Ended 31 December 2024

8

Commitments and obligations

The total future minimum lease payments not reflected in the statement of financial position amounts to £9,336 (2023: £9,064)

9

Related party transactions

Exemption has been taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts due with companies wholly owned within the group.

10

Parent and ultimate parent undertaking

The company's immediate parent is Groupe SNEF SA, incorporated in France.

The ultimate parent is Societe Financiere Du Steir SAS, incorporated in France.

Societe Financiere Du Steir SAS, whose registered office is located at 87 Av. des Aygalades, 13015 Marseille, France, is the parent of the smallest group preparing consolidated financial statements incorporating the results of the company.