IRIS Accounts Production v25.1.4.42 11357630 Board of Directors 1.1.23 31.12.23 31.12.23 24.7.25 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh113576302022-12-31113576302023-12-31113576302023-01-012023-12-31113576302021-12-31113576302022-01-012022-12-31113576302022-12-3111357630ns15:EnglandWales2023-01-012023-12-3111357630ns14:PoundSterling2023-01-012023-12-3111357630ns10:Director12023-01-012023-12-3111357630ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111357630ns10:SmallEntities2023-01-012023-12-3111357630ns10:Audited2023-01-012023-12-3111357630ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111357630ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111357630ns10:FullAccounts2023-01-012023-12-3111357630ns10:OrdinaryShareClass12023-01-012023-12-3111357630ns10:Director22023-01-012023-12-3111357630ns10:Director32023-01-012023-12-3111357630ns10:RegisteredOffice2023-01-012023-12-3111357630ns5:CurrentFinancialInstruments2023-12-3111357630ns5:CurrentFinancialInstruments2022-12-3111357630ns5:Non-currentFinancialInstruments2023-12-3111357630ns5:Non-currentFinancialInstruments2022-12-3111357630ns5:ShareCapital2023-12-3111357630ns5:ShareCapital2022-12-3111357630ns5:RetainedEarningsAccumulatedLosses2023-12-3111357630ns5:RetainedEarningsAccumulatedLosses2022-12-3111357630ns5:LandBuildingsns5:ShortLeaseholdAssets2022-12-3111357630ns5:LeaseholdImprovements2022-12-3111357630ns5:PlantMachinery2022-12-3111357630ns5:LandBuildingsns5:ShortLeaseholdAssets2023-01-012023-12-3111357630ns5:LeaseholdImprovements2023-01-012023-12-3111357630ns5:PlantMachinery2023-01-012023-12-3111357630ns5:LandBuildingsns5:ShortLeaseholdAssets2023-12-3111357630ns5:LeaseholdImprovements2023-12-3111357630ns5:PlantMachinery2023-12-3111357630ns5:LandBuildingsns5:ShortLeaseholdAssets2022-12-3111357630ns5:LeaseholdImprovements2022-12-3111357630ns5:PlantMachinery2022-12-3111357630ns5:FurnitureFittings2022-12-3111357630ns5:ComputerEquipment2022-12-3111357630ns5:FurnitureFittings2023-01-012023-12-3111357630ns5:ComputerEquipment2023-01-012023-12-3111357630ns5:FurnitureFittings2023-12-3111357630ns5:ComputerEquipment2023-12-3111357630ns5:FurnitureFittings2022-12-3111357630ns5:ComputerEquipment2022-12-3111357630ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3111357630ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3111357630ns5:WithinOneYear2023-12-3111357630ns5:WithinOneYear2022-12-3111357630ns5:BetweenOneFiveYears2023-12-3111357630ns5:BetweenOneFiveYears2022-12-3111357630ns5:MoreThanFiveYears2023-12-3111357630ns5:MoreThanFiveYears2022-12-3111357630ns5:AllPeriods2023-12-3111357630ns5:AllPeriods2022-12-3111357630ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 11357630 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Izipizi Uk Ltd

Izipizi Uk Ltd (Registered number: 11357630)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Izipizi Uk Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: X Aguera
C E Y Brun
Q Couturier





REGISTERED OFFICE: C/o Pramex International
11 Old Jewry
London
EC2R 8DU





REGISTERED NUMBER: 11357630 (England and Wales)





AUDITORS: HB Accountants
Plumpton House
Plumpton Road
Hoddesdon
Herts
EN11 0LB

Izipizi Uk Ltd (Registered number: 11357630)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 382,762 160,035

CURRENT ASSETS
Stocks 131,665 63,342
Debtors 5 556,026 289,436
Cash at bank and in hand 374,145 370,772
1,061,836 723,550
CREDITORS
Amounts falling due within one year 6 1,244,894 514,198
NET CURRENT (LIABILITIES)/ASSETS (183,058 ) 209,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,704

369,387

CREDITORS
Amounts falling due after more than
one year

7

127,051

38,026
NET ASSETS 72,653 331,361

CAPITAL AND RESERVES
Called up share capital 9 1,061,000 1,061,000
Retained earnings (988,347 ) (729,639 )
SHAREHOLDERS' FUNDS 72,653 331,361

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 23 July 2025 and were signed on its behalf by:





X Aguera - Director


Izipizi Uk Ltd (Registered number: 11357630)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Izipizi Uk Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and amounts are rounded to the nearest £.

Turnover
Turnover represents amounts receivable for goods net of VAT. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvement - over the lease term
Short leasehold - over the lease term
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Software - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Izipizi Uk Ltd (Registered number: 11357630)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company is dependent upon the continued financial support of its parent company which has undertaken to financially support the company for at least 12 months after the date of the signing of these accounts and for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

Employees benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 8 ) .

Izipizi Uk Ltd (Registered number: 11357630)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 January 2023 285,102 48,353 192,416
Additions - 267,582 11,133
At 31 December 2023 285,102 315,935 203,549
DEPRECIATION
At 1 January 2023 269,609 5,078 108,407
Charge for year 1,589 42,906 27,218
At 31 December 2023 271,198 47,984 135,625
NET BOOK VALUE
At 31 December 2023 13,904 267,951 67,924
At 31 December 2022 15,493 43,275 84,009

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 35,760 8,510 570,141
Additions 27,493 - 306,208
At 31 December 2023 63,253 8,510 876,349
DEPRECIATION
At 1 January 2023 18,502 8,510 410,106
Charge for year 11,768 - 83,481
At 31 December 2023 30,270 8,510 493,587
NET BOOK VALUE
At 31 December 2023 32,983 - 382,762
At 31 December 2022 17,258 - 160,035

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 150,381 -
Other debtors 405,645 289,436
556,026 289,436

Izipizi Uk Ltd (Registered number: 11357630)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 121,457 111,349
Amounts owed to group undertakings 1,063,672 374,189
Taxation and social security 5,042 315
Other creditors 54,723 28,345
1,244,894 514,198

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 127,051 38,026

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 397,150 397,150
Between one and five years 1,500,200 1,500,200
In more than five years 1,080,496 1,477,646
2,977,846 3,374,996

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,061,000 1,061,000

Izipizi Uk Ltd (Registered number: 11357630)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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

The Report of the Auditors was qualified on the following basis:

Basis for disclaimer of audit opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

During the audit we identified a significant number of assets and liabilities for which we could not find adequate audit evidence to support their validity. The magnitude of these items is such that we are unable to form an audit opinion. In particular, there are supplier debit balances in excess of £150,000, unverified cash balances of almost £90,000, unsubstantiated VAT debtor of almost £50,000, shortfall of depreciation charge of almost £30,000. There are various credit balances that we unable to validate amounting to just under £45,000. We were unable to obtain appropriate audit evidence or sufficient information or explanations from the company or its advisors.

Keith Grover (Senior Statutory Auditor)
for and on behalf of HB Accountants

11. ULTIMATE CONTROLLING PARTY

The parent company and controlling party Izipizi SAS, a company registered in France, whose registered address is 19 Rue De Calais, 75009, Paris, France.