Warranty Europe Services Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 07345922

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	440,292		365,630
Cash at bank and in hand		5,247		11,669

		445,539		377,299
Creditors: Amounts Falling Due Within One Year	5	(293,576 )		(220,074 )

NET CURRENT ASSETS (LIABILITIES)			151,963		157,225

TOTAL ASSETS LESS CURRENT LIABILITIES			151,963		157,225

Creditors: Amounts Falling Due After More Than One Year	6		(13,360 )		(21,106 )

NET ASSETS			138,603		136,119

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			138,503		136,019

SHAREHOLDERS' FUNDS			138,603		136,119

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Fabio Fasolino

Director

29/09/2025

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Warranty Europe Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07345922 . The registered office is Sweden house, 5 Upper Montagu Street, London, United Kingdom, W1H 2AG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.4. Taxation

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

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

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.5. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.6. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. Average Number of Employees

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

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Warranty Europe Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	337,124	300,863
Prepayments and accrued income	102,495	64,246
Other debtors	673	521

	440,292	365,630

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	47,700	40,637
Corporation tax	740	1,176
Other creditors	789	-
Accruals and deferred income	244,347	178,261

	293,576	220,074

6. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	13,360	21,106

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

8. Directors Advances, Credits and Guarantees

Included within other creditors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Fabio Fasolino	-	789	-	-	789

The above loan is unsecured, interest free and repayable on demand.

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Warranty Europe Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Related Party Transactions

Business Company SPA

Company under common control

Sales to related party: £53,728 (2023: £140,702)

Costs paid to related party: £0 (2023: £0)

Amount due from/(to) at 31 December 2024: £117,411 (2023: £123,056)

BC Warranty Management SA

Company under common control

Sales to related party: £61,659 (2023: £69,649)

Costs incurred from related party: £0 (2023: £0)

Amount due from/(to) at 31 December 2024: £214,899 (2023: £172,994)

BCLAB SRL

Company under common control

Costs to related party: £37,549 (2023: £13,044)

Amount due to at 31 December 2024: £45,497 (2023: £39,014)

10. Controlling Party

The company's controlling party is Mr Fabio Fasolino by virtue of his ownership of 90% of the issued share capital in the company.

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