REGISTERED NUMBER: 04036908 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SOTIM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S Santarelli

REGISTERED OFFICE:

38 Craven Street

London

WC2N 5NG

REGISTERED NUMBER:

04036908 (England and Wales)

ACCOUNTANTS:

B&P Tax Legal Finance LLP

38 Craven Street

London

WC2N 5NG

FIXED ASSETS

Tangible assets

4

10,713

-

Investment property

5

4,886,788

4,886,788

4,897,501

4,886,788

CURRENT ASSETS

Stocks

9,487,624

10,315,354

Debtors

6

35,065

49,744

Cash at bank and in hand

45,263

130,847

9,567,952

10,495,945

CREDITORS

Amounts falling due within one year

7

(9,277,600

)

(10,263,310

)

NET CURRENT ASSETS

290,352

232,635

TOTAL ASSETS LESS CURRENT LIABILITIES

5,187,853

5,119,423

CREDITORS

Amounts falling due after more than one year

8

(143,421

)

(143,421

)

NET ASSETS

5,044,432

4,976,002

CAPITAL AND RESERVES

Called up share capital

118,559

118,559

Fair value reserve

4,592,837

4,592,837

Retained earnings

333,036

264,606

5,044,432

4,976,002

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 director acknowledges her 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 director and authorised for issue on 15 October 2025 and were signed by:

Mrs S Santarelli - Director

1.	STATUTORY INFORMATION

Sotim Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the 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 & fittings : 5% -15% on cost on a straight line basis.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

€

COST

At 1 January 2024

1,634,959

Additions

12,029

At 31 December 2024

1,646,988

DEPRECIATION

At 1 January 2024

1,634,959

Charge for year

1,316

At 31 December 2024

1,636,275

NET BOOK VALUE

At 31 December 2024

10,713

5.	INVESTMENT PROPERTY

Total

€

FAIR VALUE

At 1 January 2024

and 31 December 2024

4,886,788

NET BOOK VALUE

At 31 December 2024

4,886,788

At 31 December 2023

4,886,788

Fair value at 31 December 2024 is represented by:

€

Valuation in 2024

4,886,788

The director has reviewed the market conditions at year end date and confirmed that the fair value of the investment property as at 31/12/2024 has not materially changed in respect of the previous year market value.

6.

DEBTORS

2024

2023

€

€

Amounts falling due within one year:

Trade debtors

11,856

6,709

Other debtors

12,297

4,158

VAT

9,592

38,158

Prepayments and accrued income

1,199

598

34,944

49,623

2024

2023

€

€

Amounts falling due after more than one year:

Other debtors

121

121

Aggregate amounts

35,065

49,744

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

€

€

Trade creditors

45,722

42,530

Tax

8,827

41,148

Other creditors

397,093

268,769

Amounts owed to shareholders

8,768,949

9,879,371

Directors' loan accounts

206

110

Accruals and deferred income

56,803

31,382

9,277,600

10,263,310

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

€

€

Other creditors

143,421

143,421

9.	CAPITAL COMMITMENTS

2024

2023

€

€

Contracted but not provided for in the

financial statements

1,250,000

1,250,000

The above balance represents a capital commitment incurred by the company for the purchase of a property in Via Arno no.21 & no.33, Rome , Italy.

10.	RELATED PARTY DISCLOSURES

At year end the Company owed €8,768,949 (2023: €9,879,371) to its shareholder. The loan is payable on demand and interest free.

11.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Private Trustees SA, an entity incorporated in Luxembourg.

Private Trustees SA controls the company in its capacity as trustee of Trust Famiglia Santarelli.