1 January 2024 v2025.82.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP123007792024-01-012024-12-31123007792024-12-31123007792023-12-3112300779core:WithinOneYear2024-12-3112300779core:WithinOneYear2023-12-3112300779core:ShareCapital2024-12-3112300779core:ShareCapital2023-12-3112300779core:RetainedEarningsAccumulatedLosses2024-12-3112300779core:RetainedEarningsAccumulatedLosses2023-12-3112300779bus:Director12024-01-012024-12-3112300779bus:RegisteredOffice2024-01-012024-12-31123007792023-01-012023-12-3112300779core:LandBuildings2024-01-01123007792024-01-0112300779core:LandBuildings2024-01-012024-12-3112300779core:PlantMachinery2024-01-012024-12-3112300779core:LandBuildings2024-12-3112300779core:PlantMachinery2024-12-311230077912024-01-012024-12-3112300779countries:EnglandWales2024-01-012024-12-3112300779bus:AuditExemptWithAccountantsReport2024-01-012024-12-3112300779bus:PrivateLimitedCompanyLtd2024-01-012024-12-3112300779bus:SmallEntities2024-01-012024-12-3112300779bus:FullAccounts2024-01-012024-12-31
Company registration number:
12300779
Ethimo UK Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Ethimo UK Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Ethimo UK Limited
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
Ethimo UK Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
we have compiled these unaudited
financial statements
in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Review Engagement of Ethimo UK Limited's Set of Statutory Accounts, Year Ended 31 Dec 2024
As the accountant and member of the Institute of Financial Accountants (IFA), we confirm that we have been professionally engaged to conduct a review of the unaudited financial statements of Ethimo UK Limited for the year ended 31 December 2024. We confirm that our work has been undertaken in accordance with the IFA’s professional guidelines and Code of Ethics (based on the IESBA Code), which require integrity, independence, objectivity, and professional competence; and the International Standard on Review Engagements ISRE 2400 (Revised): “Engagements to Review Historical Financial Statements”, as endorsed by international best practice.
Accounting Standards Applied
The financial statements have been prepared in accordance with the Companies Act 2006 applicable to small companies, and FRS 102 Section 1A (“The Financial Reporting Standard applicable in the UK and Republic of Ireland”).
Inventory Accounting Policy – Matter to Emphasise
Our review noted that the company’s accounting policy for inventory (stocks) does not fully comply with FRS 102 Section 13 (Inventory), particularly with respect to the allocation and recording of inventory items. In fact, certain inventory items appear to have been recorded in the accounts when they should not have been recognised at all under the relevant accounting standards. As a result, material misstatements exist in the financial statements for the year under review in that regard. The company’s inventory policy must be revised and corrected for future periods to ensure full compliance and accurate presentation.
Other Matters
No further matters require emphasis. Subject to the above, the accounts otherwise present fairly under FRS 102 Section 1A and relevant UK small companies’ legislation.
Conclusion
This note is issued in line with IFA member obligations and international standards. The only significant matter to stress is the planned revision of the inventory accounting policy in the subsequent financial statements.
Dr E. Edgar Contarini
for and on behalf of Vegas Advice Ltd
Vegas Advice Ltd
167 169
Great Portland Street
London
Greater London
W1W 5PF
United Kingdom
Date:
5 November 2025
Ethimo UK Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
160,531
  -  
Current assets    
Stocks
91,746
 
13,421
 
Debtors 6
141,300
 
191,348
 
Cash at bank and in hand
2,665
 
67,650
 
235,711
 
272,419
 
Creditors: amounts falling due within one year 7
(507,765
 )
(287,321
 )
Net current liabilities
(272,054
 )
(14,902
 )
Total assets less current liabilities (111,523 ) (14,902 )
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
(112,523
 )
(15,902
 )
Shareholders deficit
(111,523
 )
(14,902
 )
For the year ending
31 December 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
16 July 2025
, and are signed on behalf of the board by:
Donato Aquilanti
Director
Company registration number:
12300779
Ethimo UK Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
35-39 Old Street
,
London
,
England
,
EC1V 9HX
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2024
7,606
  -  
7,606
 
Additions
163,474
 
1,173
 
164,647
 
At
31 December 2024
171,080
 
1,173
 
172,253
 
Depreciation      
At
1 January 2024
7,606
  -  
7,606
 
Charge
4,087
 
29
 
4,116
 
At
31 December 2024
11,693
 
29
 
11,722
 
Carrying amount      
At
31 December 2024
159,387
 
1,144
 
160,531
 
At 31 December 2023 -   -   -  

6 Debtors

20242023
££
Trade debtors
4,437
 
45,350
 
Other debtors
136,863
 
145,998
 
141,300
 
191,348
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
230
  -  
Trade creditors
270,591
 
16,412
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
19,980
 
86,249
 
Taxation and social security
640
 
24,980
 
Other creditors
216,324
 
159,680
 
507,765
 
287,321