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REGISTERED NUMBER: 11436809 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HOLMUSK EUROPE LIMITED

HOLMUSK EUROPE LIMITED (REGISTERED NUMBER: 11436809)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HOLMUSK EUROPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTOR: N K Roy





REGISTERED OFFICE: 414 Linen Hall
162-168 Regent Street
London
W1B5TE





REGISTERED NUMBER: 11436809 (England and Wales)





ACCOUNTANTS: Kingly Jones LLP
Chartered Accountants
414 Linen Hall
162-168 Regent Street
London
W1B 5TE

HOLMUSK EUROPE LIMITED (REGISTERED NUMBER: 11436809)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 897,518 1,047,105
Tangible assets 5 2,495 3,851
900,013 1,050,956

CURRENT ASSETS
Debtors 6 860,663 93,342
Cash at bank 3,562,401 1,641,446
4,423,064 1,734,788
CREDITORS
Amounts falling due within one year 7 10,884,483 6,998,874
NET CURRENT LIABILITIES (6,461,419 ) (5,264,086 )
TOTAL ASSETS LESS CURRENT LIABILITIES (5,561,406 ) (4,213,130 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (5,561,506 ) (4,213,230 )
(5,561,406 ) (4,213,130 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 1 August 2025 and were signed by:





N K Roy - Director


HOLMUSK EUROPE LIMITED (REGISTERED NUMBER: 11436809)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Holmusk Europe 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.

Going concern
The accounts have been prepared on the going concern basis notwithstanding the loss for the year and the net liabilities of the company. The director considers this is appropriate, as its holding company has given assurances they will provide continued financial support to enable the company to meet its obligations as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2024 - 17 ) .

HOLMUSK EUROPE LIMITED (REGISTERED NUMBER: 11436809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 1,495,864
AMORTISATION
At 1 April 2024 448,759
Charge for year 149,587
At 31 March 2025 598,346
NET BOOK VALUE
At 31 March 2025 897,518
At 31 March 2024 1,047,105

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 23,418
Additions 3,208
At 31 March 2025 26,626
DEPRECIATION
At 1 April 2024 19,567
Charge for year 4,564
At 31 March 2025 24,131
NET BOOK VALUE
At 31 March 2025 2,495
At 31 March 2024 3,851

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 846,300 73,080
Amounts owed by group undertakings 450 450
Other debtors 13,913 19,812
860,663 93,342

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 17,619 36,326
Amounts owed to group undertakings 9,541,110 6,277,931
Taxation and social security 128,333 164,091
Other creditors 1,197,421 520,526
10,884,483 6,998,874

HOLMUSK EUROPE LIMITED (REGISTERED NUMBER: 11436809)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Holmusk Corporation Inc, incorporated in USA and whose registered office is 54 Thompson Street,4th Floor, New York, NY10012-4308, USA