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COMPANY REGISTRATION NUMBER: 04363873

Economists Consulting (Overseas) Limited

Unaudited Financial Statements

31 January 2025

Economists Consulting (Overseas) Limited

Financial Statements

Year ended 31 January 2025

Contents | Page

Officers and professional advisers | 1

Directors' report | 2

Statement of income and retained earnings | 3

Statement of financial position | 4

Notes to the financial statements | 6

The following pages do not form part of the financial statements

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements | 11

Economists Consulting (Overseas) Limited

Officers and Professional Advisers

The board of directors | Car Park Limited (Corporate Director)
| Dr. D. H. Cherro

Company secretary | Miguel Angel Gallardo Fernandez

Registered office | 4th Floor
| 58-59 Great Marlborough Street
| London
| United Kingdom
| W1F 7JY

Accountants | Higgins Fairbairn & Co
| Chartered accountants
| 4th Floor
| 58-59 Great Marlborough Street
| London
| W1F 7JY

Economists Consulting (Overseas) Limited

Directors' Report

Year ended 31 January 2025
The directors present their report and the unaudited financial statements of the company for the year ended 31 January 2025 .
Directors
The directors who served the company during the year were as follows:

Car Park Limited (Corporate Director) |
Dr. D. H. Cherro |

Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 14 October 2025 and signed on behalf of the board by:

Dr. D. H. Cherro
Director

Registered office:
4th Floor
58-59 Great Marlborough Street
London
United Kingdom
W1F 7JY

Economists Consulting (Overseas) Limited

Statement of Income and Retained Earnings

Year ended 31 January 2025

| 2025 | 2024
Note | £ | £
Turnover | – | 27,319

| ---- | --------
Gross profit | – | 27,319

Administrative expenses | 35,300 | 68,802
| -------- | --------
Operating loss | ( 35,300) | ( 41,483)

Other interest receivable and similar income | 3,541 | 2,840
Interest payable and similar expenses | – | 2,700
|  | -------- | --------
Loss before taxation | 5 | ( 31,759) | ( 41,343)

Tax on loss | – | –
| -------- | --------
Loss for the financial year and total comprehensive income | ( 31,759) | ( 41,343)
| -------- | --------

Retained earnings at the start of the year | 11,332 | 52,675
| -------- | --------
Retained (losses)/earnings at the end of the year | ( 20,427) | 11,332
| -------- | --------

All the activities of the company are from continuing operations.

Economists Consulting (Overseas) Limited

Statement of Financial Position

31 January 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 6 |  | 6,326 | 4,963
Investments | 7 |  | 3,786 | 3,786
|  | -------- | -------
|  | 10,112 | 8,749

Current assets

Debtors | 8 | 96,329 |  | 72,809
Cash at bank and in hand | 437 |  | 2,146
| -------- |  | --------
| 96,766 |  | 74,955

Creditors: amounts falling due within one year | 9 | 127,303 |  | 72,370
| --------- |  | --------
Net current (liabilities)/assets |  | ( 30,537) | 2,585
|  | -------- | --------
Total assets less current liabilities |  | ( 20,425) | 11,334
|  | -------- | --------
Net (liabilities)/assets |  | ( 20,425) | 11,334
|  | -------- | --------

Capital and reserves

Called up share capital |  | 2 | 2
Profit and loss account |  | ( 20,427) | 11,332
|  | -------- | --------
Shareholders (deficit)/funds |  | ( 20,425) | 11,334
|  | -------- | --------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Economists Consulting (Overseas) Limited

Statement of Financial Position (continued)

31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 14 October 2025 , and are signed on behalf of the board by:

Dr. D. H. Cherro
Director

Company registration number: 04363873

Economists Consulting (Overseas) Limited

Notes to the Financial Statements

Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Turnover During the year there were no transactions.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 25% reducing balance
| Equipment | - | 25 % reducing balance

4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:

| 2025 | 2024
| £ | £
Depreciation of tangible assets | 2,109 | 1,654
| ------- | -------

6. Tangible assets

| Fixtures and fittings | Equipment | Total
| £ | £ | £
Cost |  |  |
At 1 February 2024 | 9,503 | 3,506 | 13,009
Additions | 3,378 | 94 | 3,472
| -------- | ------- | --------
At 31 January 2025 | 12,881 | 3,600 | 16,481
| -------- | ------- | --------
Depreciation |  |  |
At 1 February 2024 | 5,577 | 2,469 | 8,046
Charge for the year | 1,826 | 283 | 2,109
| -------- | ------- | --------
At 31 January 2025 | 7,403 | 2,752 | 10,155
| -------- | ------- | --------
Carrying amount |  |  |
At 31 January 2025 | 5,478 | 848 | 6,326
| -------- | ------- | --------
At 31 January 2024 | 3,926 | 1,037 | 4,963
| -------- | ------- | --------

7. Investments

| Shares in group undertakings | Shares in participating interests | Total
| £ | £ | £
Cost |  |  |
At 1 February 2024 and 31 January 2025 | 3,145 | 641 | 3,786
| ------- | ---- | -------
Impairment |  |  |
At 1 February 2024 and 31 January 2025 | – | – | –
| ------- | ---- | -------

Carrying amount |  |  |
At 31 January 2025 | 3,145 | 641 | 3,786
| ------- | ---- | -------
At 31 January 2024 | 3,145 | 641 | 3,786
| ------- | ---- | -------

This consists of a 52% shareholding in Inuit Mobile, a company registered in Spain. The shares in participating interests consist of 309 Finalbion S.a.r.l. Class B shares,a company registered in Luxembourg.
8. Debtors

| 2025 | 2024
| £ | £
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 39,691 | 68,086
Other debtors | 56,638 | 4,723
| -------- | --------
| 96,329 | 72,809
| -------- | --------

The amount owed by Inuit Mobile, the subsidiary company in which the company has a participating interest, was £39,691 (2024: £68,086.) Included in other debtors are the loans to Finalbion S.a.r.l., amounting to £56,638 (2024:4,723), a company registered in Luxembourg.
9. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Other creditors - Padovani & Manriqe G Loan Agreement | 63,252 | 54,000
Other creditors - Finalbion S.a.r.l. (LUX) | 49,526 | –
Other creditors | 14,525 | 18,370
| --------- | --------
| 127,303 | 72,370
| --------- | --------

Other creditors include a director's loan of £14,525 (2024:£14,525).
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2025
|  | Balance brought forward | Advances/ (credits) to the directors | Balance outstanding
|  | £ | £ | £
| Car Park Limited (Corporate Director) | ( 14,525) | – | ( 14,525)
|  | -------- | ---- | --------

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Balance outstanding
|  | £ | £ | £
| Car Park Limited (Corporate Director) | ( 16,693) | 2,168 | ( 14,525)
|  | -------- | ------- | --------

11. Related party transactions
The company was under the control of Car Park Limited, a company registered in British Virgin Islands throughout the current and previous year. The beneficial owner is Mrs Nelida Mane. During the year, loan interest of £1,396 (2024: £2,840) was received from Inuit Mobile the subsidiary.
12. Controlling party
The immediate holding company is Car Park Limited, a company registered in British Virgin Islands.

Economists Consulting (Overseas) Limited

Management Information

Year ended 31 January 2025
The following pages do not form part of the financial statements.

Economists Consulting (Overseas) Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Economists Consulting (Overseas) Limited

Year ended 31 January 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 January 2025, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Higgins Fairbairn & Co Chartered accountants
4th Floor 58-59 Great Marlborough Street London W1F 7JY