| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ETISALAT EUROPE LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| ETISALAT EUROPE LIMITED |
| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |
| 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 |
| ETISALAT EUROPE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Auditors: |
| Chartered Accountants and Statutory Auditors |
| 12 Old Mills Industrial Estate |
| Paulton |
| BS39 7SU |
| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 31/12/24 | 31/12/23 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Etisalat Europe Limited is a |
| The company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts charged to the company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred. |
| Tangible fixed assets |
| Assets are stated at historic cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Computer equipment - 33% on cost |
| Financial instruments |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
| Debtors |
| Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measure initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| 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. |
| Creditors |
| Short-term creditors are creditors measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| Cost |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Trade creditors |
| Tax |
| PAYE | 12,875 | 16,863 |
| Pension | 3,638 | 4,394 |
| Accrued expenses |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Within one year |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the auditors was unqualified. |
| for and on behalf of |
| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The immediate parent company is considered to be Etisalat Europe and Asia Limited, a company incorporated in the United Arab Emirates. |
| The ultimate controlling party is considered to be the Emirates Telecommunications Group Company PJSC, a company incorporated in the United Arab Emirates, with registered office at PO Box 3838, Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange. Consolidated accounts including Etisalat Europe Limited are drawn, these can be obtained from the company's website www.eand.com. |