Engineering, Logistics And Trading International UK Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Statement of Comprehensive Income	7
Statement of Financial Position	8
Statement of Changes in Equity	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—15

The directors present their strategic report for the year ended 31 December 2024.

Review of the Business

Business overview

As set out in the Directors' report and in note 3.1 to the financial statements the company is no longer a going concern, as it is the directors intention to liquidate the company, and accordingly the break-up basis of accounting have been adopted for the year. As a consequence the remaining assets and liabilities have been disclosed at values at which they are expected to be recovered.

Financial overview

The demand for domestic appliances improved in the year with turnover increasing by 24%. Gross profit margin increased to 10%. The balances due to and from fellow group companies are considered recoverable and payable in full.

Principal Risks and Uncertainties

In light of the transfer of the business to a fellow group company there will be no further ongoing business and accordingly there will be no material risks faced by the company going forward.

Future Developments

The company is no longer operating as a going concern as a result of the business being transfered to a fellow group company during the 2025 year.

On behalf of the board

S T Punter

Director

18 March 2025

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Engineering, Logistics And Trading International UK Limited

Company No. 10214958

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

Principal Activity

The company's principal activity continues to be that of a distribution agent of domestic kitchen appliances.

Dividends

The value of dividends paid amounted to £1,000,000 . The directors recommended that no final dividend be paid.

Directors

The directors who held office during the year were as follows:

G de Jenlis	Resigned	16/12/2024
E de Jenlis	Resigned	16/12/2024
N Debavelaere	Resigned	15/03/2024
S T Punter	Appointed	16/12/2024
P Mariani	Appointed	16/12/2024
M Bosquillon de Jenlis	Appointed	16/12/2024

Going Concern

The company has made the decision to cease trading and transer its business to a fellow group company. It is the intention of the directors to liquidate the company and consider it inappropriate to prepare the financial statements on a going concern basis and thefore the diectors have prepared these financial statements on a break-up basis as set out under the basis of preparation (note 3.1).

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Engineering, Logistics And Trading International UK Limited

Directors' Report (continued)

For The Year Ended 31 December 2024

Independent Auditors

The auditor, Ward Williams, is deemed to be reappointed under section 487(2) of the Companies Act 2006

On behalf of the board

S T Punter

Director

18 March 2025

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Independent Auditor's Report

to the Members of

Engineering, Logistics And Trading International UK Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Engineering, Logistics And Trading International UK Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for 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.

Material Uncertainty related to Going Concern

In auditing the financial statements, we have concluded that the director's use of the break up basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties, other than as noted in the emphasis of matter section of this report, relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Emphasis of Matter

We draw attention to note 3.3 of the financial statements, which explains that the company will cease trading following the transfer of its business to a fellow group company.The process of being formally wound up and dissolved will therefore begin post year end. Our opinion is not modified in this respect.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Engineering, Logistics And Trading International UK Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, our procedures included the following:

· We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in which they operate. We determined that the following were the most significant: the Companies Act 2006 and UK corporate taxations laws.

· We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making inquiries to the management of the company. We corroborated our inquiries through our review of correspondence during our audit work.

· We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed included:

· identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

· understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

· challenging assumptions and judgements made by management in its significant accounting estimates;

· identifying and testing journal entries, in particular journal entries posted with unusual account combinations; and

· assessing the extent of compliance with the relevant laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

Engineering, Logistics And Trading International UK Limited

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Frank Harling (Senior Statutory Auditor)

for and on behalf of Ward Williams Limited , Statutory Auditor

8 May 2025

Ward Williams Limited

Chartered Accountants and Statutory Auditors

Belgrave House

39-43 Monument Hill

Weybridge, Surrey

KT13 8RN

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Engineering, Logistics And Trading International UK Limited

Statement of Comprehensive Income

For The Year Ended 31 December 2024

Statement of Comprehensive Income

		2024	2023
	Notes	£	£
TURNOVER		15,116,515	12,193,379
Cost of sales		(13,568,036 )	(11,130,210 )

GROSS PROFIT		1,548,479	1,063,169

Administrative expenses		(6,344 )	(5,734 )

OPERATING PROFIT		1,542,135	1,057,435
Other interest receivable and similar income	6	(16,132 )	8,932

PROFIT BEFORE TAXATION		1,526,003	1,066,367
Tax on Profit	7	(381,501 )	(250,833 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,144,502	815,534
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		1,144,502	815,534

The notes on pages 11 to 15 form part of these financial statements.

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Engineering, Logistics And Trading International UK Limited

Statement of Financial Position

As At 31 December 2024

Statement of Financial Position

Registered number: 10214958

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	8	4,010,795		1,687,154
Cash at bank and in hand		94,438		4,620,703

		4,105,233		6,307,857
Creditors: Amounts Falling Due Within One Year	9	(1,411,467 )		(3,758,593 )

NET CURRENT ASSETS (LIABILITIES)			2,693,766		2,549,264

TOTAL ASSETS LESS CURRENT LIABILITIES			2,693,766		2,549,264

NET ASSETS			2,693,766		2,549,264

CAPITAL AND RESERVES
Called up share capital	10		1,250		1,250
Income Statement			2,692,516		2,548,014

SHAREHOLDERS' FUNDS			2,693,766		2,549,264

The financial statements were approved by the board of directors on 18 March 2025 and were signed on its behalf by:

S T Punter

Director

The notes on pages 11 to 15 form part of these financial statements.

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Engineering, Logistics And Trading International UK Limited

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Income Statement	Total
	£	£	£
As at 1 January 2023	1,250	4,532,480	4,533,730
Profit for the year and total comprehensive income	-	815,534	815,534

Dividends paid	-	(2,800,000)	(2,800,000)

As at 31 December 2023 and 1 January 2024	1,250	2,548,014	2,549,264


Profit for the year and total comprehensive income	-	1,144,502	1,144,502

Dividends paid	-	(1,000,000)	(1,000,000)

As at 31 December 2024	1,250	2,692,516	2,693,766

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Engineering, Logistics And Trading International UK Limited

Statement of Cash Flows

For The Year Ended 31 December 2024

Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(3,248,766 )	7,693,397
Tax paid		(261,367 )	(366,933 )

Net cash (used in)/generated from operating activities		(3,510,133 )	7,326,464

Cash flows from investing activities
Interest (refunded)/received		(16,132 )	8,932

Cash flows from financing activities
Equity dividends paid		(1,000,000 )	(2,800,000 )



(Decrease)/increase in cash and cash equivalents		(4,526,265 )	4,535,396
Cash and cash equivalents at beginning of year	2	4,620,703	85,307

Cash and cash equivalents at end of year	2	94,438	4,620,703

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Engineering, Logistics And Trading International UK Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 December 2024

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2024	2023
	£	£
Profit for the financial year	1,144,502	815,534
Adjustments for:
Tax on profit	381,501	250,833
Interest income	16,132	(8,932 )
Movements in working capital:
(Increase)/decrease in trade and other debtors	(2,323,641 )	6,238,870
(Decrease)/increase in trade and other creditors	(2,467,260 )	397,092

Net cash (used in)/generated from operations	(3,248,766 )	7,693,397

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	94,438	4,620,703

3. Analysis of changes in net funds

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	4,620,703	(4,526,265)	94,438

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Engineering, Logistics And Trading International UK Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Engineering, Logistics And Trading International UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10214958 . The registered office is 19 Bridge Street, Godalming, Surrey, GU7 1HY.

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

As set out in the Directors' report, due to the company ceasing to trade, the directors have decided to prepare the financial statements on a basis other than that of a going concern. The financial statements have been prepared on a break-up basis at the year end. In adopting the break-up basis at the year end the following policies were implemented:

- all assets have been disclosed as current assets at the values at which they are expected to be realised

- all liabilities are reflected as current liabilities at the full amount at which they are expected to materialise

3.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.3. Going Concern Disclosure

The company made the decision to cease trading following the transfer of its business to a fellow group company. It is the intention of the directors to liquidate the company and they therefore consider it inappropriate to prepare the financial statements on a going concern basis. These financial statements have been prepared on a break-up basis as set out under the basis of preparation (note 3.1)

3.4. Significant judgements and estimations

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions in areas where this information is not readily available from other sources. In particular the directors use judgement in assessing the warranty provision as well as the carrying amount of assets and liabilities. The estimates and assumptions are based on the historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

3.5. Turnover

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

3.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3.7. Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and investments in non-puttable ordinary shares.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Other financial assets

Other financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss account, except that investments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Impairment of financial assets

...CONTINUED

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Engineering, Logistics And Trading International UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3.7. Financial Instruments - continued

Financial assets, other than those held at fair value through profit and loss account, are assessed for indicators of impairment at each reporting end date.

Other financial liabilities

Other financial liabilities, including debt instruments that do not meet the definition of a basic financial instrument, are measured at fair value through profit and loss account.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and aremeasured subsequently at amortised cost using the effective interest method.

3.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3.9. Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised or all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit not the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to the recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is changed or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax asset is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 period 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.

4. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	4,000	3,750

5. Average Number of Employees

Average number of employees during the year was: NIL (2023: NIL)

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Engineering, Logistics And Trading International UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Interest Receivable and Similar Income

	2024	2023
	£	£
Other interest receivable	(16,132)	8,932

7. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the profit for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	23.5%	381,501	250,833


Total tax charge for the period			381,501	250,833


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2024	2023
			£	£
Profit before tax			1,526,003	1,066,367

Tax on profit at 25% (UK standard rate)			381,501	250,815
Expenses not deductible for tax purposes			-	18

Total tax charge for the period			381,501	250,833

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	52,107
Prepayments and accrued income	-	10,078
Amounts owed by group undertakings	4,010,795	1,624,969

	4,010,795	1,687,154

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	7,262	-
Amounts owed to group undertakings	747,593	3,345,961
Corporation tax	201,500	81,366
Taxation and social security	449,862	326,266
Accruals and deferred income	5,250	5,000

	1,411,467	3,758,593

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Engineering, Logistics And Trading International UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1,250 Ordinary Shares of £ 1.00 each	1,250	1,250

11. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	1,000,000	2,800,000

12. Controlling Parties

The company's immediate parent undertaking is ELT International SA .

The ultimate parent undertaking is Umami TopCo SA (incorporated in Luxembourg). Its registered office is 26a, Boulevard Royal, 2449 Luxembourg .

Copies of the group accounts may be obtained from the company's registered office.

The company's ultimate controlling party is Ardian Buyout Fund VII B S.L.P by virtue of their interest in the share capital of

the company.

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