REGISTERED NUMBER: 10930806 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ETISALAT EUROPE LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

Mr A R Al Aqqad

Mr N Baccouche

Registered office:

Suite 1,

7th Floor 50 Broadway,

London

SW1H 0BL

Registered number:

10930806 (England and Wales)

Auditors:

Fuller & Roper Limited

Chartered Accountants and Statutory Auditors

12 Old Mills Industrial Estate

Paulton

BS39 7SU

FIXED ASSETS

Tangible assets

4

5,310

5,273

CURRENT ASSETS

Debtors

5

457,109

206,076

Cash at bank

618,411

653,551

1,075,520

859,627

CREDITORS

Amounts falling due within one year

6

(257,038

)

(138,407

)

NET CURRENT ASSETS

818,482

721,220

TOTAL ASSETS LESS CURRENT LIABILITIES

823,792

726,493

CAPITAL AND RESERVES

Called up share capital

407,817

407,817

Retained earnings

415,975

318,676

SHAREHOLDERS' FUNDS

823,792

726,493

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 9 June 2026 and were signed on its behalf by:

Mr N Baccouche - Director

1.	STATUTORY INFORMATION

Etisalat Europe 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 company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

2.	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

Turnover represents amounts charged to the company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Tangible fixed assets

Assets are stated at historic cost. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measure initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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.

Creditors

Short-term creditors are creditors measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Operating lease

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2025

17,347

Additions

3,707

At 31 December 2025

21,054

Depreciation

At 1 January 2025

12,074

Charge for year

3,670

At 31 December 2025

15,744

Net book value

At 31 December 2025

5,310

At 31 December 2024

5,273

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

428,861

178,092

Other debtors

10,500

10,500

VAT

5,792

4,225

Prepayments

11,956

13,259

457,109

206,076

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

32,361

32,048

PAYE

17,193

12,875

Pension

4,534

3,638

Accrued expenses

202,950

89,846

257,038

138,407

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

36,530

32,080

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

The Report of the auditors was unqualified.

Simon Roper (Senior Statutory Auditor)

for and on behalf of Fuller & Roper Limited

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is considered to be Etisalat Europe and Asia Limited, a company incorporated in the United Arab Emirates.

The ultimate controlling party is considered to be the Emirates Telecommunications Group Company PJSC, a company incorporated in the United Arab Emirates, with registered office at PO Box 3838, Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange. Consolidated accounts including Etisalat Europe Limited are drawn, these can be obtained from the company's website www.eand.com.