Envol Cabling Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09970207 (England and Wales)

Unaudited financial statements for the year ended 31 January 2025

For

Envol Cabling Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

Cl Directors (Monaco) Ltd

A S Mazzotta

Secretary:

Vistra Cosec Limited

Registered office:

Suite 1, 7th Floor,

50 Broadway,

London,

SW1H 0BL

Registered number:

09970207 (England and Wales)

Accountants:

Equiom (Scotland)

15a Harbour Road

Inverness

INVERNESS-SHIRE

IV1 1SY

Fixed assets

Investments

5

4,434,191

4,401,658

Current assets

Debtors

6

6,675

5,644

Cash at bank

7,256

704

13,931

6,348

Creditors

Amounts falling due within one year

7

(4,278,127

)

(4,255,262

)

Net current liabilities

(4,264,196

)

(4,248,914

)

Total assets less current liabilities

169,995

152,744

Creditors

Amounts falling due after more than one
year

8

(1,154,192

)

(1,114,192

)

Net liabilities

(984,197

)

(961,448

)

Capital and reserves

Called up share capital

9

131,460

Retained earnings

(1,115,657

)

(1,092,908

)

Shareholders' funds

(984,197

)

(961,448

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

A S Mazzotta - Director

Cl Directors (Monaco) Ltd - Director

1.	STATUTORY INFORMATION

Envol Cabling 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.

The presentation currency of the financial statements is the Euro (€).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit and loss.

GOING CONCERN

The company is dependent on the continued financial support of the lenders in order to enable it to continue operating and to meet its liabilities as they fall due. The lenders have agreed to continue to provide financial support to the company and accordingly the directors have prepared the financial statements under the going concern concept.

INVESTMENT INCOME

Investment income is accounted for on a receivable basis.

INTEREST INCOME

Interest income is accounted for on a receivable basis.

EXPENSES

Expenses are accounted for on an accruals basis.

FOREIGN CURRENCIES

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 at 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 statement of comprehensive income.

TAXATION

Taxation expense for the period where applicable comprises current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income.

INVESTMENTS

Unquoted investments

Unquoted investments are stated at cost. Any surplus or deficit arising on the disposal of investments is transferred to the statement of comprehensive income

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	FIXED ASSET INVESTMENTS

2025

2024

€

Brought forward

3,414,858

Carried forward

3,414,858

Analysed as:

Nexans Cote d'Ivoire

3,414,858

Nexans Cote d'Ivoire

The company owns 40% of the equity share capital of Nexans Cote d'Ivoire (2024: 40%)

LOANS RECEIVABLE

Restated

2025

2024

€

Loan receivable - Nexans Cote d'Ivoire

800,000

Loan interest receivable - Nexans Cote d'Ivoire

219,333

186,800

1,019,333

986,800

On 3 February 2020, the Company granted a shareholder loan of €800,000 to Nexans Cote d'Ivoire, bearing interest at an annual rate of 4%. On 24 March 2021, this facility was increased by €1,000,000, bringing the total loan amount to €1,800,000.

Further to an amendment signed on 2 October 2022, €1,000,000 of the loan was converted into share capital, followed by a capital reduction of the same amount to offset accumulated losses.

These transactions were not recognised in the 2022 financial statements. The related differences have been restated in opening retained earnings, in accordance with Note 5 of these financial statements. The restatement reflects a €1,000,000 loss on investment and a prior years’ accrued interest adjustment of €63,918.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

€

Loan receivable - Nexans Cote d'Ivoire (i)

1,816

Prepayments

4,859

3,828

6,675

5,644

The loan receivable from Nexans Cote d'Ivoire is unsecured, interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

€

Shareholders loan - Conway Investment Limited

3,316,741

3,294,901

Shareholders loan - Executive Financing (Mauritius)

307,051

Shareholders loan - Golden Heritage Ltd

644,511

Shareholders loan - NH

6,098

Trade creditors - Equiom SAM

811

113

Accruals

2,915

2,588

4,278,127

4,255,262

The loans payable are unsecured, interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

€

Shareholders loan - Conway Investment Ltd

1,000,000

Loan interest

154,192

114,192

1,154,192

1,114,192

The shareholders loan payable is unsecured, interest bearing at 4% per annum and is considered long term liability by the Directors.

9.	CALLED UP SHARE CAPITAL

2025

2024

€

100,000 Ordinary shares of £1 each

Allotted, called up and fully paid

At 1 February & 31 January

131,460

Authorised GBP

100,000