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REGISTERED NUMBER: 11212088 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EURICOM UK LIMITED

EURICOM UK LIMITED (REGISTERED NUMBER: 11212088)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EURICOM UK LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2024







DIRECTORS: P Buscaglia
J E Carter





REGISTERED OFFICE: New Barns, Unit 2 Coggeshall Road
Earls Colne
Colchester
Essex
CO6 2JX





REGISTERED NUMBER: 11212088 (England and Wales)





AUDITORS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

EURICOM UK LIMITED (REGISTERED NUMBER: 11212088)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 45,608 59,205
Debtors 4 278,676 995,605
Cash at bank 81,084 130,842
405,368 1,185,652
CREDITORS
Amounts falling due within one year 5 543,217 1,285,864
NET CURRENT LIABILITIES (137,849 ) (100,212 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(137,849

)

(100,212

)

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Retained earnings (138,849 ) (101,212 )
SHAREHOLDERS' FUNDS (137,849 ) (100,212 )

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 14 April 2025 and were signed on its behalf by:





J E Carter - Director


EURICOM UK LIMITED (REGISTERED NUMBER: 11212088)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024

1. STATUTORY INFORMATION

Euricom UK Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Financial instruments
Financial assets, financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Going concern
The company has made a loss for the year and at the year end had Net Liabilities of £137,849. The company is expected to return to profitability in the near future.

The directors will endeavour to ensure that the company has sufficient working capital to meet its requirements for the foreseeable future. The directors will continue to carefully monitor the situation and have alternative plans in place should the need arise.

In light of the above, the directors have reviewed the going concern status of the business for the foreseeable future to the best of their abilities and have concluded that they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

EURICOM UK LIMITED (REGISTERED NUMBER: 11212088)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 232,011 929,609
Other debtors - 25,000
VAT 42,730 35,795
Prepayments and accrued income 3,935 5,201
278,676 995,605

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 369,841 829,489
Amounts owed to group undertakings 50,000 -
Amounts owed to participating interests 107,194 428,906
Other creditors 4,577 -
Accruals and deferred income 11,605 27,469
543,217 1,285,864

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1.00 1,000 1,000

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Coombe FCA (Senior Statutory Auditor)
for and on behalf of Burnside

EURICOM UK LIMITED (REGISTERED NUMBER: 11212088)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024

8. RELATED PARTY DISCLOSURES

At 31 December 2024, the company owed £220,448 to its parent undertaking and the other group companies it controls. At 31 December 2023, the company owed £739,294 to group companies. During the year, the company charged management fees of £309,697 (2023 - £329,666), recharged freight and duty of £4,453 (2023 - £755,164) and other miscellaneous recharges of £75,308 (2023 - £45,993). Total purchases of goods from the group were £1,097,519 (2023 - £3,058,434).

At 31 December 2024, the company owed £132,202 (2023 - £428,906) to a company related through a minority interest in the issued share capital and as the party responsible for the administrative affairs of the company. During the year, the management charges incurred amounted to £371,125 (2023 - £461,594) and other recharges including freight and duty and accounting and audit amounted to £23,239 (2023 - £365,080).

All these balances are unsecured, interest-free, and are repayable on demand.They are included within trade debtors and trade creditors in these financial statements where not otherwise disclosed.

The controlling party is Euricom S.P.A..

Euricom S.P.A. prepares consolidated financial statements in which the financial statements of the company are included. Euricom S.P.A. is a company registered in Italy, with its registered office at Via Stazione 119, Valle Lomellina (PV), 27020, Pavia, Italy.