United Mining Suppliers International Lt - Accounts to registrar (filleted)

REGISTERED NUMBER: 05738581 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

United Mining Suppliers International

Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Global Assistance Services SA

A S Mazzotta

A Moscatello

SECRETARY:

Vistra Cosec Limited

REGISTERED OFFICE:

Jordans Limited, Suite 1

7th Floor, 50 Broadway

London

United Kingdom

SW1H 0BL

REGISTERED NUMBER:

05738581 (England and Wales)

ACCOUNTANTS:

Equiom (Scotland)

15a Harbour Road

Inverness

INVERNESS-SHIRE

IV1 1SY

FIXED ASSETS

Tangible assets

3

562,519

633,914

Investments

4

146,001,047

113,511,160

146,563,566

114,145,074

CURRENT ASSETS

Debtors: amounts falling due within one
year

5

23,939,417

24,103,206

Investments

6

3,397,081

3,709,603

Cash and cash equivalents

7

17,203,429

14,330,320

44,539,927

42,143,129

CREDITORS

Amounts falling due within one year

8

(45,947,918

)

(103,080,554

)

NET CURRENT LIABILITIES

(1,407,991

)

(60,937,425

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

145,155,575

53,207,649

CREDITORS

Amounts falling due after more than one
year

9

122,419,743

44,192,624

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

22,735,831

9,015,024

22,735,832

9,015,025

145,155,575

53,207,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 July 2025 and were signed on its behalf by:

Global Assistance Services SA - Director

A S Mazzotta - Director

1.	ACCOUNTING POLICIES

(A) revenue recognition

Revenue is recognised when it is probable that the economic benefits associated with the transaction will flow to the Company and the amount of the revenue can be measured reliably.

(B) EXPENSES

All expenses are accounted for on an accruals basis.

(C) OPERATING PROFIT

Operating profit includes revenue received, as reduced by operating expenses and administrative expenses and excludes finance costs, finance income and other gains and losses.

(D) BORROWING COSTS

All borrowing costs are recognised in the income statement in the period in which they are incurred.

(E) FOREIGN CURRENCIES

(i) Functional and presentation currency

Items included in the financial statements are measured in the currency of the primary economic environment in which the entity operates (the "functional currency"). The financial statements are presented in Euros, which is the Company's functional and presentational currency.

(ii) Transactions and balances

Transactions in currencies other than Euros are recorded at the rates of exchange prevailing on the dates of the transactions. At each Balance Sheet date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the Balance Sheet date. Non-monetary assets and liabilities that are carried at fair value and denominated in foreign currencies are translated at the rates prevailing at the date when the fair value was determined. Gains and losses arising on retranslation are included in net profit or loss for the year, except for exchange differences arising on non-monetary assets and liabilities where the changes in fair value are recognised directly in equity.

2.	EMPLOYEES AND DIRECTORS

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

3.	TANGIBLE FIXED ASSETS

2024

2023

€

Vehicles

632,949

685,944

Depreciation Vehicles

(70,430

)

(52,030

)

562,519

633,914

4.	FIXED ASSET INVESTMENTS

UNQUOTED INVESTMENTS

2024

2023

€

27% of the shares of Societe Miniere de Boke SARL (SMB)

531,460

4,360

100% of the shares of United Mining Supply (UMS)

9,004,503

27% of the shares of Winning Alliance Port SA (WAP)

26,215

100% of the shares of UMSI Suisse SA

93,798

88.66% of the shares of Alteo Holding

23,557,397

100% of the shares of AS Management

1,942,603

0.0002% of the shares of Winning Consortium Holdings PTE LTD

-

169

100% of the shares of Specter Aviation Ltd

2

30% of the shares of International Mining Investment Assets Ltd

3,194,768

10,764,864

100% of the shares of Koumbia Mining Construction

-

1,145

20% Winning Consortium Railway PTE

187

20% Winning Consortium Aluminium PTE

187

20% of the shares of AMC Railway Cpy Ltd - credi unpaid shared

185

-

38,351,305

45,395,430

NON CURRENT RECEIVABLES

2024

2023

€

Loan receivable

107,639,482

68,105,470

Deposit Monaco Office

10,260

107,649,742

68,115,730

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

€

Loan receivable

23,639,221

23,801,862

Trade debtors

300,196

301,344

23,939,417

24,103,206

6.	CURRENT ASSET INVESTMENTS

2024

2023

€

CMB portfolio at cost

3,397,081

3,533,248

Unrealised P/L on CMB portfolio revaluation

-

176,355

3,397,081

3,709,603

7.	CASH AND CASH EQUIVALENTS

2024

2023

€

Current account CMB

969,426

865,095

Current account EDR

16,399

2,606

Term deposit EDR

4,870,000

2,375,000

Term deposit CMB

11,347,603

11,087,618

Petty cash

1

17,203,429

14,330,320

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

€

Loans payable

122,419,743

117,184,785

Trade payables

69,372

2,944

Accruals

18,427

18,724

Unpaid shares

1,320

1,131

122,508,862

117,207,584

Amounts due within next 12 months

89,119

73,014,960

Amounts due after 12 months

122,419,743

44,192,624

122,508,862

117,207,584

The Directors consider that the carrying amount of trade payables approximates to their fair values

BORROWINGS

2024

2023

€

Current accounts CMB

13,908,719

16,065,363

Current account EDR

-

1,124

Current account Heritage

433,080

107

Bank loan payable EDR

5,999,000

8,999,000

Bank loan payable HERITAGE

25,518,000

5,000,000

45,858,799

30,065,594

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

€

Other creditors

122,419,743

44,192,624

10.	PLEDGE OVER THE COMPANY'S ASSETS

On 22 February 2021, the company applied for a credit facility with the bank Edmond de Rotschild for an amount of 1,500,000 € the company approved to pledge its assets held on the books of the bank Edmond de Rotschild.

On 21 October 2021, the company applied for a credit facility with the bank CMB (Compagnie Monegasque de Banque) for an amount of 7,000,000 € the company approved to pledge its assets held on the books of the bank CMB.

On 29th June 2023, the company applied for a new credit facility with the bank Edmond de Rothschild for an amount of 5,000,000 € on 24th August 2023, the credit facility was increased to 9,000,000 €.

On 11th October 2023, the credit facility with CMB was increased to €16,000,000.