Company registration number 15856664 (England and Wales)
WENEA OLYMPUS UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
WENEA OLYMPUS UK LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 8
WENEA OLYMPUS UK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Non-current assets
Investments
3
200,101
Current assets
Trade and other receivables
5
7,589,949
Cash and cash equivalents
865
7,590,814
Current liabilities
6
(4,000)
Net current assets
7,586,814
Total assets less current liabilities
7,786,915
Non-current liabilities
6
(3,600,000)
Net assets
4,186,915
Equity
Called up share capital
9
4,135,336
Retained earnings
51,579
Total equity
4,186,915

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

The director of the company has elected not to include a copy of the income statement within the financial statements.

The financial statements were approved by the board of directors and authorised for issue on 30 September 2025 and are signed on its behalf by:
Mr Jose Manuel Zorrilla Astudillo
Director
Company registration number 15856664 (England and Wales)
WENEA OLYMPUS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Wenea Olympus UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is International House, 1 St. Katharine's Way, London, United Kingdom, E1W 1YL. The company's principal activities and nature of its operations are disclosed in the director's report.

1.1
Reporting period

The financial statements are for a period of less than 12 months as this is its first accounting period since incorporation on 24 July 2024.

1.2
Basis of preparation

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS:

- inclusion of an explicit and unreserved statement of compliance with IFRS;

- presentation of a statement of cash flows and related notes;

- disclosure of the objectives, policies and processes for managing capital;

- disclosure of key management personnel compensation;

- disclosure of the categories of financial instrument and the nature and extent of risks arising on these financial instruments;

- the effect of financial instruments on the statement of comprehensive income;

- disclosure of the future impact of new International Financial Reporting Standards in issue but not yet effective at the reporting date;

- for financial instruments, investment property and biological assets measured at fair value and within the scope of IFRS 13, the valuation techniques and inputs used to measure fair value, the effect of fair value measurements with significant unobservable inputs on the result for the period and the impact of credit risk on the fair value; and

- related party disclosures for transactions with the parent or wholly owned members of the group.

Where required, equivalent disclosures are given in the group accounts of Diggia Solutions S.L., a company incorporated in Spain. The group accounts of Diggia Solutions S.L. are available to the public and can be obtained as set out in note 11.

WENEA OLYMPUS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

The company has taken advantage of the exemption under section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Wenea Olympus UK Limited is a wholly owned subsidiary of Wenea Olympus Holdco S.L.U. a company registered in Spain and the results of Wenea Olympus UK Limited are included in the consolidated financial statements of Diggia Solutions, S.L. which are available from Calle Acanto 22, 28045 Madrid.

1.3
Going concern

The director has at the time of approving the financial statements, a reasonable expectation that the true company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

The company’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current activity and therefore the company is expected to continue to generate positive cash flows for the foreseeable future.

The Company participates in the group’s centralised treasury arrangements and so it is financed through intercompany credit lines with its parent company and fellow subsidiaries. This optimizes the availability of funds to manage its operating activities and the terms of the bank agreements granted. In addition, the group companies have confirmed that they will not seek repayment of amounts owed to them until such time as the company is able to do so.

Furthermore, the parent company has agreed to provide financial support necessary to enable the company to pay its debts as they fall due for the foreseeable future.

The directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Wenea Olympus UK Limited to continue as a going concern. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1.4
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

WENEA OLYMPUS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Financial assets at fair value through profit or loss

When any of the above-mentioned conditions for classification of financial assets is not met, a financial asset is classified as measured at fair value through profit or loss. Financial assets measured at fair value through profit or loss are recognized initially at fair value and any transaction costs are recognised in profit or loss when incurred. A gain or loss on a financial asset measured at fair value through profit or loss is recognised in profit or loss, and is included within finance income or finance costs in the statement of income for the reporting period in which it arises.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Financial assets at fair value through other comprehensive income

Debt instruments are classified as financial assets measured at fair value through other comprehensive income where the financial assets are held within the company’s business model whose objective is achieved by both collecting contractual cash flows and selling financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt instrument measured at fair value through other comprehensive income is recognised initially at fair value plus transaction costs directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognised through other comprehensive income are directly transferred to profit or loss when the debt instrument is derecognised.

The company has made an irrevocable election to recognize changes in fair value of investments in equity instruments through other comprehensive income, not through profit or loss. A gain or loss from fair value changes will be shown in other comprehensive income and will not be reclassified subsequently to profit or loss. Equity instruments measured at fair value through other comprehensive income are recognized initially at fair value plus transaction cost directly attributable to the asset. After initial recognition, each asset is measured at fair value, with changes in fair value included in other comprehensive income. Accumulated gains or losses recognized through other comprehensive income are directly transferred to retained earnings when the equity instrument is derecognized or its fair value substantially decreased. Dividends are recognized as finance income in profit or loss.

Impairment of financial assets

Financial assets carried at amortised cost and FVOCI are assessed for indicators of impairment at each reporting end date.

The expected credit losses associated with these assets are estimated on a forward-looking basis. A broad range of information is considered when assessing credit risk and measuring expected credit losses, including past events, current conditions, and reasonable and supportable forecasts that affect the expected collectability of the future cash flows of the instrument.

WENEA OLYMPUS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.6
Financial liabilities

The company recogni s es financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, t rade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
1

The directors acting during the period are remunerated by other group companies. There are no identifiable qualifying services for this company in 2024.

WENEA OLYMPUS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 6 -
3
Investments
Current
Non-current
2024
2024
£
£
Investments in subsidiaries
-
200,101
Fair value of financial assets carried at amortised cost

Except as detailed below the directors believe that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

Movements in non-current investments
Shares in subsidiaries
£
Cost or valuation
At 24 July 2024
-
Additions
200,101
At 31 December 2024
200,101
Carrying amount
At 31 December 2024
200,101
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Wenea Herefordshire Limited
International House, 1 St. Katharine's Way, London, United Kingdom, E1W 1YL
Ordinary
100.00
Nordian CPO UK Limited
International House, 1 St. Katharine's Way, London, United Kingdom, E1W 1YL
Ordinary
100.00
Wenea Devon II Limited
International House, 1 St. Katharine's Way, London, United Kingdom, E1W 1YL
Ordinary
100.00
Wenea West Midlands
International House, 1 St. Katharine's Way, London, United Kingdom, E1W 1YL
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
WENEA OLYMPUS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
4
Subsidiaries
(Continued)
- 7 -
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Wenea Herefordshire Limited
(87,386)
(87,486)
Nordian CPO UK Limited
(7,645)
(7,646)
Wenea Devon II Limited
(45,487)
(55,587)
Wenea West Midlands
(27,594)
(27,694)

During the period, the company bought shares of Wenea Herefordshire Limited, Nordian CPO UK Limited, Wenea Devon II Limited and Wenea West Midlands Limited.

5
Trade and other receivables
Current
Non-current
2024
2024
£
£
Amounts owed by related parties
-
7,589,849
Other receivables
100
-
100
7,589,849
6
Liabilities
Current
Non-current
2024
2024
Notes
£
£
Borrowings
7
-
0
3,600,000
Trade and other payables
8
4,000
-
0
4,000
3,600,000
7
Borrowings
Non-current
2024
£
Borrowings held at amortised cost:
Loans from parent undertaking
3,600,000

The above loan is interest free for the first accounting period, following charges from 2025 accrued at 3% of company profit. Loan is repayable on 31 December 2030.

WENEA OLYMPUS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 8 -
8
Trade and other payables
2024
£
Accruals and deferred income
4,000
9
Share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
4,135,336
4,135,336

During the period, the company issued 4,135,336 shares of £1 at par.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report is unqualified and includes the following:

Opinion

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 for the period 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.

Senior Statutory Auditor:
Vinodkumar Vadgama
Statutory Auditor:
UHY Hacker Young
Date of audit report:
30 September 2025
11
Controlling party

The direct shareholder of the Company is Wenea Olympus Holdco S.L.U., and the ultimate parent and controlling party is Diggia Solutions, S.L. a company incorporated in Spain.

Diggia Solutions S.L., prepares group financial statements and copies can be obtained from Calle Acanto 22, 28045 Madrid.

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