REGISTERED NUMBER: 14616158 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Heylo Coffee Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

U Doglioni Majer

D Biro

REGISTERED OFFICE:

2 Craven Road

Ealing

London

W5 2UA

REGISTERED NUMBER:

14616158 (England and Wales)

AUDITORS:

Merchant Mackinlay Simpson Ltd

Statutory Auditors

2 Craven Road

Ealing

London

W5 2UA

FIXED ASSETS

Tangible assets

4

4,126

5,908

CURRENT ASSETS

Stocks

96,039

50,742

Debtors

5

19,329

7,827

Cash at bank and in hand

882

49,057

116,250

107,626

CREDITORS

Amounts falling due within one year

6

323,412

131,284

NET CURRENT LIABILITIES

(207,162

)

(23,658

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(203,036

)

(17,750

)

CREDITORS

Amounts falling due after more than one year

7

(70,832

)

(112,500

)

PROVISIONS FOR LIABILITIES

(784

)

(1,123

)

NET LIABILITIES

(274,652

)

(131,373

)

CAPITAL AND RESERVES

Called up share capital

8

882

882

Retained earnings

9

(275,534

)

(132,255

)

SHAREHOLDERS' FUNDS

(274,652

)

(131,373

)

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 19 September 2025 and were signed on its behalf by:

U Doglioni Majer - Director

1.	STATUTORY INFORMATION

Heylo Coffee 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.

Turnover

Turnover is derived from the sale of coffee machines and other related items which is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

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.

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.

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.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Going concern

The financial statements have been prepared on the basis of going concern, which assumes that the company will be in operational existence for the foreseeable future. The validity of this assumption depends on the company being able to trade profitably in the future and the continued support from the director, Mr U Doglioni Majer, an ultimate controlling party.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

7,124

DEPRECIATION

At 1 January 2024

1,216

Charge for year

1,782

At 31 December 2024

2,998

NET BOOK VALUE

At 31 December 2024

4,126

At 31 December 2023

5,908

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,788

-

Other debtors

15,541

7,827

19,329

7,827

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

127,746

84,407

Amounts owed to group undertakings

186,412

36,377

Taxation and social security

325

1,302

Other creditors

8,929

9,198

323,412

131,284

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

70,832

112,500

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary Shares

€1

882

882

9.

RESERVES

Retained

earnings

£

At 1 January 2024

(132,255

)

Deficit for the year

(143,279

)

At 31 December 2024

(275,534

)

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

The Report of the Auditors was unqualified.

Mr Ketan Ramesh Patel FCCA (Senior Statutory Auditor)

for and on behalf of Merchant Mackinlay Simpson Ltd

11.	RELATED PARTY DISCLOSURES

During the period 31 December 2023, Heylo Coffee Ltd received two loans from VEA Ventures s.r.l., Heylo Coffee Ltd's holding company. As at 31 December 2024 a total of £125,000 was outstanding. Interest is charged on these loans at 2% per annum. As at 31 December 2024, a total of £2,421 interest remained outstanding on these loans.

Furthermore, VEA Ventures s.r.l. has paid for various expenses upon incorporation, these costs amounted to £20,974. This balance remains outstanding to VEA Ventures s.r.l. at the year-end.

During the year ended 31 December 2024, VEA Ventures s.r.l. loaned a total of €150,000, no interest is charged on these loans. As at 31 December 2024 a total of £108,368 remained outstanding.

VEA Ventures s.r.l. is 100% holding company of Heylo Coffee Ltd.

During the period ended 31 December 2023, Heylo Coffee Ltd purchased stock from Heylo s.r.l., a group company. As at 31 December 2024, a total of £2,903 remained outstanding. Due to company restructuring during the year under review, this balance was transferred to VEA Group spa. This transaction is at arms length.

Included in trade creditors is a total of £121,646 due to VEA Group spa for purchase of stock. This transaction is at arms length.

VEA Ventures s.r.l. is 100% holding company of VEA Group spa.