REGISTERED NUMBER: 07337540 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Avenso UK Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M C Schreiber

M A Ullrich

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

07337540 (England and Wales)

AUDITORS:

WP Audit Services LLP

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

5

6

6

CURRENT ASSETS

Inventories

115,559

98,396

Debtors

6

47,664

181,186

Cash at bank

20,524

21,596

183,747

301,178

CREDITORS

Amounts falling due within one year

7

(401,505

)

(515,504

)

NET CURRENT LIABILITIES

(217,758

)

(214,326

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(217,752

)

(214,320

)

CREDITORS

Amounts falling due after more than one year

8

(310,842

)

(310,842

)

NET LIABILITIES

(528,594

)

(525,162

)

CAPITAL AND RESERVES

Called up share capital

9

426,513

426,513

Retained earnings

(955,107

)

(951,675

)

SHAREHOLDERS' FUNDS

(528,594

)

(525,162

)

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 22 May 2026 and were signed on its behalf by:

M C Schreiber - Director

1.	STATUTORY INFORMATION

Avenso UK Ltd 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 Pound Sterling (£).

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 and going concern

The financial statements have been prepared under the historical cost convention.

The Company reported a net loss during the year ended 31 December 2025 and at that date the Statement of Financial Position showed that the Company's total liabilities exceeded its total assets resulting in a deficit shareholders' funds of £528,594.

However, included within creditors are amounts owed to the Company's immediate parent undertaking, Lumas Art Editions GmbH, totalling £662,883. Lumas Art Editions GmbH has confirmed its willingness not to withdraw support of the Company to the detriment of other creditors for the foreseeable future and for at least the twelve months from the date of approval of the financial statements.

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover from the sale of goods is recognised when all of the following conditions are satisfied: the Company has transferred the significant risks and rewards of ownership to the buyer, the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold, the amount of turnover can be measured reliably, it is probable that the Company will receive the consideration due under the transaction, and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided in order to write off each asset over its estimated useful life of:

Fixtures and fittings

4 - 6 years

Computer equipment

3 years

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Critical accounting judgements and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Valuation of inventories

Inventories are stated at the lower of cost and net realisable value. Estimates are made in respect of determining the net realisable value of inventories and so the amount of impairment losses. The directors have assessed the net realisable value of the company's inventories having regard to the age of the stock, the number of individual items held and the level of recent sales of stock lines. However the assessment of net realisable value is inherently subjective as it is made on the basis on previous sale activity which may in future not prove to be accurate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2025

and 31 December 2025

3,952

2,075

6,027

Depreciation

At 1 January 2025

and 31 December 2025

3,948

2,073

6,021

Net book value

At 31 December 2025

4

2

6

At 31 December 2024

4

2

6

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade debtors

327

326

Other debtors

47,337

118,955

VAT

-

59,640

Prepayments

-

2,265

47,664

181,186

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

31/12/24

£

£

Trade creditors

10,937

8,234

Amounts owed to group undertakings

352,041

486,320

VAT

17,820

-

Other creditors

2,119

2,074

Accrued expenses

18,588

18,876

401,505

515,504

Amounts owed from group undertakings are not interest bearing and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/25

31/12/24

£

£

Amounts owed to group undertakings

310,842

310,842

Interest is charged on the above balance at 5% per annum.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/25

31/12/24

value:

£

£

426,513

Ordinary

£1

426,513

426,513

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

The Report of the Auditors was unqualified.

Stuart Wright (FCA) (Senior Statutory Auditor)

for and on behalf of WP Audit Services LLP

11.	RELATED PARTY DISCLOSURES

At the year end £662,883 (2024: £797,162) was due to its parent Lumas Art Editions GmbH and is included in Amounts owed to group undertakings. During the year interest of £14,567 (2024: £14,724) was charged by its parent and is included in this balance.

12.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Lumas Art Editions GmbH, incorporated in Germany. The company's business address is Ernst Reuter Platz 2, 10587, Berlin. The ultimate parent undertaking is Amber Asset Management GmbH, incorporated in Germany, which is controlled by its directors.