REGISTERED NUMBER: 13760125 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Idemasport UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr C M Pirali

SECRETARY:

MY UK OFFICE LIMITED

REGISTERED OFFICE:

8 Northumberland Avenue

London

WC2N 5BY

REGISTERED NUMBER:

13760125 (England and Wales)

AUDITORS:

Try Lunn & Co

Chartered Accountants

and Statutory Auditors

Roland House

Princes Dock Street

HULL HU1 2LD

FIXED ASSETS

Tangible assets

4

-

4,579

CURRENT ASSETS

Debtors

5

14,628

5,871

Cash at bank

46,287

-

60,915

5,871

CREDITORS

Amounts falling due within one year

6

280,440

137,909

NET CURRENT LIABILITIES

(219,525

)

(132,038

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(219,525

)

(127,459

)

PROVISIONS FOR LIABILITIES

-

1,140

NET LIABILITIES

(219,525

)

(128,599

)

CAPITAL AND RESERVES

Called up share capital

7

20,000

20,000

Retained earnings

8

(239,525

)

(148,599

)

SHAREHOLDERS' FUNDS

(219,525

)

(128,599

)

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 5 September 2025 and were signed by:

Mr C M Pirali - Director

1.	STATUTORY INFORMATION

Idemasport 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 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 company is reliant on the financial support of it's ultimate parent company, Megaform SA. The director

has obtained confirmation from Megaform SA that they will continue to support the company through its existing facilities for the foreseeable future. On this basis the financial statements have been prepared on the going concern basis.

Turnover

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

Turnover is recognised on delivery of the goods in line with the terms and conditions of the sale.

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

-

Straight line over 3 years

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

and 31 December 2024

13,735

DEPRECIATION

At 1 January 2024

9,156

Charge for year

4,579

At 31 December 2024

13,735

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

4,579

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

18

-

Other debtors

5,109

3,958

VAT

7,710

271

Prepayments

1,791

1,642

14,628

5,871

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

30

Trade creditors

6,725

-

Amounts owed to group undertakings

267,552

133,254

Accrued expenses

6,163

4,625

280,440

137,909

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary shares

£200

20,000

20,000

8.

RESERVES

Retained

earnings

£

At 1 January 2024

(148,599

)

Deficit for the year

(90,926

)

At 31 December 2024

(239,525

)

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

The Report of the Auditors was unqualified.

Simon Moss FCCA (Senior Statutory Auditor)

for and on behalf of Try Lunn & Co

10.	RELATED PARTY DISCLOSURES

During the year the company purchased goods and services from it's ultimate parent company, Megaform SA, a company registered in Belgium., totalling £60,826 (£2023: £Nil). During the year £92,071 (2023: £77,747) was loaned to Idemasport UK from Megaform SA. At 31 December 2024 Idemasport UK Ltd owed Megaform SA £249,095 (2023: £114,797).

During the year £Nil (2023: £18,457) was loaned to Idemasport UK from Idemasport SA. At 31 December 2024 Idemasport UK Ltd owed Idemasport SA £18,457 (2023: £18,457).

11.	ULTIMATE CONTROLLING PARTY