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Registered number: 05631588









UMBRELLA EUROPE LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
UMBRELLA EUROPE LIMITED
 

COMPANY INFORMATION


Director
Mr D A Evans 




Registered number
05631588



Registered office
Tennyson House
Cambridge Business Park

Cambridge

CB4 0WZ




Accountants
Price Bailey LLP
Chartered Accountants

Tennyson House

Cambridge Business Park

Cambridge

CB4 0WZ





 
UMBRELLA EUROPE LIMITED
REGISTERED NUMBER: 05631588

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
992
-

Investment property
 5 
2,202,768
1,710,500

  
2,203,760
1,710,500

Current assets
  

Debtors: amounts falling due within one year
 6 
113,499
83,713

Cash at bank and in hand
 7 
27,692
2,892

  
141,191
86,605

Creditors: amounts falling due within one year
 8 
(25,921)
(11,659)

Net current assets
  
 
 
115,270
 
 
74,946

Total assets less current liabilities
  
2,319,030
1,785,446

Creditors: amounts falling due after more than one year
 9 
(764,000)
(259,990)

Provisions for liabilities
  

Deferred tax
 12 
(100,117)
(99,869)

  
 
 
(100,117)
 
 
(99,869)

Net assets
  
1,454,913
1,425,587


Capital and reserves
  

Called up share capital 
  
101
101

Profit and loss account
  
1,454,812
1,425,486

  
1,454,913
1,425,587


Page 1

 
UMBRELLA EUROPE LIMITED
REGISTERED NUMBER: 05631588

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr D A Evans
Director

Date: 30 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
UMBRELLA EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Umbrella Europe Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is Tennyson House, Cambridge Business Park, Cambridge, CB4 0WZ. 
The Company's functional and presentation currency is GBP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. In reaching this conclusion
the director has considered the current economic environment and its potential impact on the company.  The director considers the company has sufficient resources to continue for the foreseeable future.
The financial statements do not include any adjustments that would be required if the financial
statements were not prepared on a going concern basis.

 
2.3

Turnover

Turnover is recognised by the company in respect of income received from property rental during the year, exclusive of Value Added Tax and trade discounts.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Page 3

 
UMBRELLA EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
per annum reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
UMBRELLA EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.15

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 5

 
UMBRELLA EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
1,107



At 31 December 2024

1,107



Depreciation


Charge for the year on owned assets
115



At 31 December 2024

115



Net book value



At 31 December 2024
992



At 31 December 2023
-


5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
1,710,500


Additions at cost
492,268



At 31 December 2024
2,202,768

The 2024 valuations were made by the Director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,634,227
1,141,959

Page 6

 
UMBRELLA EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£

Amounts owed by joint ventures and associated undertakings
96,529
83,713

Other debtors
9,480
-

Prepayments and accrued income
7,490
-

113,499
83,713



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
27,692
2,892



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
780

Corporation tax
8,605
2,234

Other creditors
12,936
4,745

Accruals and deferred income
4,380
3,900

25,921
11,659



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
764,000
259,990


Page 7

 
UMBRELLA EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Bank loans
764,000
259,990



Bank loans totalling £764,000 (2023 - £259,990) are secured by way of a fixed and floating charge over the assets of the company.


11.


Contingent Liability

The company has provided security on loans totalling £361,000 (2023 - £365,000) which are held in Umbrella Green Limited.


12.


Deferred taxation




2024


£






At beginning of year
(99,869)


Charged to profit or loss
(248)



At end of year
(100,117)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revalued investment properties
(99,869)
(99,869)

Accelerated capital allowances
(248)
-

(100,117)
(99,869)

Page 8

 
UMBRELLA EUROPE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
6,183
6,183

Later than 1 year and not later than 5 years
4,637
10,820

10,820
17,003


14.


Related party transactions

During the year there were the following transactions with related parties:


2024
2023
£
£

Amounts due from Umbrella DE Limited
91,609
79,060
Amounts due from Umbrella Green Limited
4,920
4,653
96,529
83,713

The amounts presented above are interest free and repayable on demand.


15.


Controlling party

The immediate parent company is Umbrella DE Limited.
The ultimate controlling party is Mr D A Evans.


Page 9