REGISTERED NUMBER: 09750946 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Singha Europe Company Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

N Bhirombhakdi

B Pinpradab

N Silpavittayakul

REGISTERED OFFICE:

C/o Pkf Littlejohn 15 Westferry Circus

Canary Wharf

London

E14 4HD

REGISTERED NUMBER:

09750946 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alan Kaye

AUDITORS:

BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

CURRENT ASSETS

Debtors

4

1,709,927

812,449

Investments

5

-

8,549,000

Cash at bank

9,814,896

2,370,342

11,524,823

11,731,791

CREDITORS

Amounts falling due within one year

6

(38,160

)

(43,220

)

NET CURRENT ASSETS

11,486,663

11,688,571

TOTAL ASSETS LESS CURRENT LIABILITIES

11,486,663

11,688,571

CAPITAL AND RESERVES

Called up share capital

32,962,101

32,962,101

Retained earnings

(21,475,438

)

(21,273,530

)

SHAREHOLDERS' FUNDS

11,486,663

11,688,571

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 3 September 2025 and were signed on its behalf by:

B Pinpradab - Director

1.	STATUTORY INFORMATION

Singha Europe Company 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.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Significant judgements and estimates

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of the assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The critical judgment made by the management there were no critical judgement.

Other Income

Other income is measured at the fair value of the consideration received or receivable net of VAT.

Interest receivable

Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established. The Interest rates were fixed at 0.5% on loans to subsidiaries and 4% on other debtors.

Financial instruments

The Company has elected to apply the provisions of section 11 "Basic Financial Instruments" of FRS 102 to all of its 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 realies the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include other debtors are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the assets(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Financial liabilities

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 Company's assets after the deduction of all liabilities.

Basic financial liabilities, which include accruals are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby debt instrument is measured at the present value of the future receipt discounted at a market rate of interest. Discounting is omitted where the effect of discounting in immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Cash and cash equivalents

Cash and cash equivalents comprises cash on hand and all deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value

Debtors

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if the company does not have an unconditional right at the end of the reporting period to defer settlements of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlements for at least twelve months after the reporting date, they are presented as non-current liabilities.Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Foreign currencies

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Provision

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Investments in joint ventures / associates are measured at cost less impairment.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

All foreign exchange gains and losses are presented in Statement of Profit or Loss and other comprehensive Income within 'Administrative expenses'.

Going concern

In assessing whether the going concern assumption is appropriate, the directors have considered the information available to them about the future, which is at least, but not limited to, 12 months from the date of approval of these financial statements.

The company incurred a loss of £201,908 during the year ended 31 December 2024 (2023: £13,181,037) and has accumulated losses of £21,475,438 as at 31 December 2024. The company operates as an investment holding company with no trading income and minimal operational activity. The company's ability to continue as a going concern is dependent upon:

Continued financial support from its parent company, Singha International Headquarter Co., Ltd, a company incorporated in Thailand.

The parent company's ability and willingness to provide adequate funding to meet the company's operational requirements and discharge its liabilities as they fall due.

The directors have received confirmation from the parent company of its intention to provide continued financial support to enable the company to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. Based on this support and the company's current cash position of £9,814,896, the directors believe the company has adequate resources to continue in operational existence.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Other debtors

883,127

812,449

Amounts falling due after more than one year:

Other debtors

826,800

-

Aggregate amounts

1,709,927

812,449

5.	CURRENT ASSET INVESTMENTS

31.12.24

31.12.23

£

£

Current asset investment

-

8,549,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

38,160

43,220

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

The Report of the Auditors was unqualified.

Alan Kaye (Senior Statutory Auditor)

for and on behalf of BBK Partnership

8.	RELATED PARTY TRANSACTIONS

During the financial year the directors of the Company, did not receive any remuneration, salary, fees, or other benefits from the Company in respect of their services as a director or in any other capacity. No amounts were paid to or accrued for the benefit of the director, either directly or indirectly, through any related entities.

9.	ULTIMATE PARENT COMPANY

Singha International Headquarter Co., Ltd, incorporated in Thailand, holds 100% of the shares of Singha Europe Company Limited and is the immediate parent undertaking. The ultimate parent company is Boon Rawd Brewery Co., Ltd, also incorporated in Thailand. Neither the immediate nor ultimate parent prepares consolidated accounts, and no consolidated financial statements are available for public inspection.

In the opinion of the Directors, there is no individual ultimate controlling party.