SM TRADING (UK) LIMITED Company accounts

COMPANY REGISTRATION NUMBER: 08574823

SM TRADING (UK) LIMITED

Unaudited Financial Statements

31 December 2025

SM TRADING (UK) LIMITED

Financial Statements

Year ended 31 December 2025

Contents	Page

Directors' report	1

Income statement	2

Statement of financial position	3

Statement of changes in equity	5

Notes to the financial statements	6

SM TRADING (UK) LIMITED

Directors' Report

Year ended 31 December 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2025 .

Principal activities

The principal activity of the company during the period was the trading of grain and other related products.

Directors

The directors who served the company during the year were as follows:

Mr. Efstathios Giavroglou
Mrs. Marina Giavroglou
Fiduci-Corp (UK) Services Limited

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 15 June 2026 and signed on behalf of the board by:

Mr. Efstathios Giavroglou	Mrs. Marina Giavroglou
Director	Director

Fiduci-Corp (UK) Services Limited	Fiduci-Corp (UK) Services Limited
Director	Company Secretary

SM TRADING (UK) LIMITED

Income Statement

Year ended 31 December 2025

	2025	2024
Note	€	€

Administrative expenses	( 26,744)	( 19,649)
	--------	--------
Operating loss	( 26,744)	( 19,649)

Other interest receivable and similar income	55,351	53,214
Interest payable and similar expenses	( 71)	( 330)
	--------	--------
Profit before taxation	28,536	33,235

Tax on profit	( 7,538)	( 6,137)
	--------	--------
Profit for the financial year	20,998	27,098
	--------	--------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

SM TRADING (UK) LIMITED

Statement of Financial Position

31 December 2025

	2025		2024
Note	€	€	€

Fixed assets

Investments	4		1,500,000	1,500,000

Current assets

Debtors	5	78,856	26,250
Cash at bank and in hand		886,993	892,562
		---------	---------
		965,849	918,812

Creditors: amounts falling due within one year	6	880,720		854,681
		---------		---------
Net current assets			85,129	64,131
			------------	------------
Total assets less current liabilities			1,585,129	1,564,131
			------------	------------

Capital and reserves

Called up share capital	7	10,000	10,000
Profit and loss account	8	1,575,129	1,554,131
		------------	------------
Shareholders funds		1,585,129	1,564,131
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SM TRADING (UK) LIMITED

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 15 June 2026 , and are signed on behalf of the board by:

Mr. Efstathios Giavroglou	Mrs. Marina Giavroglou
Director	Director

Fiduci-Corp (UK) Services Limited
Director

Company registration number: 08574823

SM TRADING (UK) LIMITED

Statement of Changes in Equity

Year ended 31 December 2025

	Called up share capital	Profit and loss account	Total
	€	€	€
At 1 January 2024	10,000	1,527,033	1,537,033

Profit for the year		27,098	27,098
	--------	------------	------------
Total comprehensive income for the year	–	27,098	27,098

At 31 December 2024	10,000	1,554,131	1,564,131

Profit for the year		20,998	20,998
	--------	------------	------------
Total comprehensive income for the year	–	20,998	20,998

	--------	------------	------------
At 31 December 2025	10,000	1,575,129	1,585,129
	--------	------------	------------

SM TRADING (UK) LIMITED

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Speen House, Porter Street, London, W1U 6AJ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in euro, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments 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. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are 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.

4. Investments

	Other loans
	€
Cost
At 1 January 2025 and 31 December 2025	1,500,000
	------------
Impairment
At 1 January 2025 and 31 December 2025	–
	------------

Carrying amount
At 31 December 2025	1,500,000
	------------
At 31 December 2024	1,500,000
	------------

5. Debtors

	2025	2024
	€	€
Trade debtors	52,500	–
Prepayments and accrued income	26,250	26,250
Other debtors	106	–
	--------	--------
	78,856	26,250
	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	€	€
Trade creditors	872,251	847,613
Corporation tax	7,538	6,137
Shareholders account	515	515
Other creditors	416	416
	---------	---------
	880,720	854,681
	---------	---------

7. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	€	No.	€
Ordinary shares of € 1 each	10,000	10,000	10,000	10,000
	--------	--------	--------	--------

8. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

9. Related party transactions

The company was under the control of Oleomar Holdings Limited and Zoniamark Limited. Oleomar Holdings Limited and Zoniamark Limited holding of 55% and 45% of the total shares respectively.