REGISTERED NUMBER: 03141642 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ISKRAEMECO (UK) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M H A Abdelfatah

REGISTERED OFFICE:

Second Floor Ridgeland House

15 Carfax

Horsham

West Sussex

RH12 1ER

REGISTERED NUMBER:

03141642 (England and Wales)

AUDITORS:

Galloways Accounting

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

CURRENT ASSETS

Debtors

3

421,832

779,503

Cash at bank

280,438

22,733

702,270

802,236

CREDITORS

Amounts falling due within one year

4

137,981

228,780

NET CURRENT ASSETS

564,289

573,456

TOTAL ASSETS LESS CURRENT LIABILITIES

564,289

573,456

CAPITAL AND RESERVES

Called up share capital

5

2,833,530

2,833,530

Retained earnings

(2,269,241

)

(2,260,074

)

SHAREHOLDERS' FUNDS

564,289

573,456

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 24 December 2025 and were signed on its behalf by:

M H A Abdelfatah - Director

1.	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.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

The company facilitates the sale of goods sourced from its parent company and does not take physical possession of, or hold, inventory.

Turnover is recognised when the significant risks and rewards of ownership of the goods have transferred directly from the parent company to the customer, the amount of revenue can be measured reliably, it is probable that the economic benefits will flow to the company, and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is when the goods have been delivered to the customer.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from service agreements is recognised on a straight line basis over the service agreement.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently carried at fair value, with adjustments through the profit or loss.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have prepared detailed sales forecasts which reflect the current and planned growth trends and anticipate continued growth. This considered alongside the company's operating environment and the level of net assets held by the company have founded the director's assessment of the company's ability to continue as a going concern. Following their assessment, the directors have not identified any going concern uncertainties and the financial statements are prepared on a going concern basis.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

321,194

392,352

Amounts owed by group undertakings

87,923

362,584

Other debtors

-

20,094

Accrued income

7,950

-

Prepayments

4,765

4,473

421,832

779,503

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

11,123

5,461

Amounts owed to group undertakings

15,164

79,255

Social security and other taxes

8,492

5,006

VAT

74,332

114,761

Other creditors

1,620

3

Deferred income

-

16,294

Accrued expenses

27,250

8,000

137,981

228,780

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2,833,530

Ordinary

£1

2,833,530

2,833,530

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christian Heeger BSc FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting

7.	OFF-BALANCE SHEET ARRANGEMENTS

At the balance sheet date, the Company was contracted to two service agreements generating £19,760 (2023: £9,506) payable to suppliers within one year.

A group company was also contracted to a service agreement generating £11,670 (2023: £8,800) receivable by the Company within one year.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	IMMEDIATE PARENT COMPANY

The immediate parent company is Iskraemeco d.d., a company registered in Slovenia. The company's accounts are consolidated into the financial statements of the parent company, Iskraemeco d.d. Copies of accounts may be obtained from Iskraemeco d.d. Savska Ioka 4, 4000 Kranj, Slovenia.

10.	ULTIMATE PARENT COMPANY

The directors consider that the ultimate parent company is Elsewedy Electric Co S.A.E., a company incorporated in Egypt.