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Registration number: 13666825

Esseti Re Limited
Filleted Abridged Financial Statements
for the Year Ended 31 December 2024

Esseti Re Limited

Contents

Company Information | 1
Abridged Balance Sheet | 2
Notes to the Abridged Financial Statements | 3 to 5

Esseti Re Limited

Company Information

Directors | Ms Saveria Veronica Ciani Mr Simone Billi

Registered office | 75-77 Brook Street London W1K 4HX

Auditors | DTL Auditors Ltd Accountants and Statutory Auditors5th Floor, North Side 7/10 Chandos Street London W1G 9DQ

Esseti Re Limited

(Registration number: 13666825)
Abridged Balance Sheet as at 31 December 2024

| Note | 2024 € | 2023 €
Fixed assets |  |  |
Investment property |  | 6,008,852 | 3,258,023
Current assets |  |  |
Debtors |  | 1,719 | -
Cash at bank and in hand |  | 10,293 | 7,304
|  | 12,012 | 7,304
Prepayments and accrued income |  | 9,542 | 22,947
Creditors: Amounts falling due within one year |  | (10,378) | (171,600)
Net current assets/(liabilities) |  | 11,176 | (141,349)
Total assets less current liabilities |  | 6,020,028 | 3,116,674
Creditors: Amounts falling due after more than one year |  | (6,207,195) | (3,255,195)
Accruals and deferred income |  | (7,637) | (5,915)
Net liabilities |  | (194,804) | (144,436)
Capital and reserves |  |  |
Called up share capital | 4 | 114,021 | 114,021
Retained earnings |  | (308,825) | (258,457)
Shareholders' deficit |  | (194,804) | (144,436)

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 March 2025 and signed on its behalf by:

......................................... Ms Saveria Veronica Ciani Director |  |

Esseti Re Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
75-77 Brook Street
London
W1K 4HX

These financial statements were authorised for issue by the Board on 14 March 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director has prepared the financial statements on the going concern basis. This is considered appropriate as
the company’s shareholders and creditors will continue to provide financial support to the company for the
foreseeable future. Should the company be unable to continue trading, adjustments would have to be made to
reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 17 September 2025 was John Tiltman, who signed for and on behalf of DTL Auditors Ltd.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Esseti Re Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

Esseti Re Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

4 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | € | No. | €
Ordinary shares of £1 each | 100,000 | 114,021 | 100,000 | 114,021

5 | Parent and ultimate parent undertaking

The company's immediate parent is VGL Investments Limited, incorporated in England and Wales.