High Trade Assets Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—6

1. General Information

(a) High Trade Assets is a Limited Company Registered in England and Wales with the number 09634519. Registered Office: 5th Floor, 167 – 169 Great Portland Street, London W1W 5PF, United Kingdom. The Financial Conduct Authority authorises it under registration number 727146.

(b) High Trade Assets is a Holding company with an interest in the business of Real Estate. The primary markets were Italy and the United Kingdom.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain

financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2. Going Concern Disclosure

The directors have reviewed the company's latest management figures and forecasts and consider that in preparing

the financial statements they have taken into account all information that could reasonably be expected to be

available. They believe that this information demonstrates that the company will be able to pay its creditors as they

fall due.

It is also noted that the company's shareholders have invested significantly in the company and have indicated their

willingness to continue to support the company for the foreseeable future.

The directors therefore have reasonable expectation that the company has adequate resources to continue in

operational existence for the foreseeable future.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services

rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to

the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the

associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the

transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction

at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be

reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be

recovered.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation

and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of

revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and

subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they

arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the

cost or value can be measured reliably.

Amortisation:

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life

of that asset as follows:

Trademarks - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an

intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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High Trade Assets Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Investment Properties

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated

impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated

impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the

transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value

recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably

without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether

the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less

any accumulated impairment losses.

Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded

at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value

recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably

without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether

the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being

estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is

impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual

asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The

cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that

largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date,

allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination,

irrespective of whether other assets or liabilities of the company are assigned to those units.

2.6. Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual

provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a

financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are

publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair

value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at

cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is

deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the

asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt

instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss,

with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the

end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or

loss immediately.

...CONTINUED

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High Trade Assets Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Financial Instruments - continued

For all equity instruments regardless of significance, and other financial assets that are individually significant, these

are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the

basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not

result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the

impairment not previously been recognised.

2.7. Foreign Currencies

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of

the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non monetary items

measured at historical cost are translated using the exchange rate at the date of the transaction and non monetary

items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end

exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and

loss account except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit

and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the

Profit and loss account within 'other operating income'.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	67,000

As at 31 December 2024	67,000

Amortisation
As at 1 January 2024	67,000

As at 31 December 2024	67,000

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

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High Trade Assets Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investments

	Other
	£
Cost
As at 1 January 2024	177,958

As at 31 December 2024	177,958

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	177,958

As at 1 January 2024	177,958

6. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	-	621
VAT	20	31

	20	652

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	49,587	49,587
Other creditors	281,078	277,119
Accruals and deferred income	2,900	2,900
Director's loan account	62	62

	333,627	329,668

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	50,000	50,000

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Eugenio Corti	62	-	-	-	62

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

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High Trade Assets Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Related Party Transactions

Overizone Ltd is a company in which E Corti is a director

Rich & Son 1 Ltd is a company in which E Corti is a director

All Boys Ltd is a company in which E Corti is a director

At the year end, the following balances were owed to connected companies:

Overizone Ltd £287,979 (2023 £282,890) - other creditors

Overizone Ltd £49,587 (2023 £49,587) - trade creditors

11. Ultimate Controlling Party

The company considers Rich & Sons 1 Limited, a company also registered in England and Wales, to be it's controlling party by virtue of it's majority shareholding in the company.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	5		177,958		177,958

			177,958		177,958
CURRENT ASSETS
Debtors	6	20		652
Cash at bank and in hand		4		506

		24		1,158
Creditors: Amounts Falling Due Within One Year	7	(333,627 )		(329,668 )

NET CURRENT ASSETS (LIABILITIES)			(333,603 )		(328,510 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(155,645 )		(150,552 )

NET LIABILITIES			(155,645 )		(150,552 )

CAPITAL AND RESERVES
Called up share capital	8		50,000		50,000
Profit and Loss Account			(205,645 )		(200,552 )

SHAREHOLDERS' FUNDS			(155,645)		(150,552)