Registered number: 11902418
ALTIDO LTD
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023
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ALTIDO LTD
REGISTERED NUMBER: 11902418
BALANCE SHEET
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Capital redemption reserve
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The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 March 2024.
Page 1
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ALTIDO LTD
REGISTERED NUMBER: 11902418
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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ALTIDO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Altido Limited is a private company limited by shares incorporated in England and Wales. The registered office is 26 Astwood Mews, London, United Kingdom ,SW7 4DE.
The principal activity of the company continued to be that of a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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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.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 3
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ALTIDO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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The Company has no employees other than the Directors, who did not receive any remuneration (2022: £NIL).
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Charge for the year on owned assets
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Page 4
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ALTIDO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Investments in subsidiary companies
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The breakdown of new investments in subsidiary companies in the year is as follows:
Altido Portugal £215,729
Altido Italy £303,446
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Page 5
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ALTIDO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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100,000 (2022: 100,000) Ordinary shares of £1.00 each
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Related party transactions
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As a wholly owned subsidary undertaking of DoveVivo Limited, the company has taken advantage of the exemption in Financial Reporting Standard 102 Section 33 'Related party disclosures' in not disclosing intra group transactions between two or more members of the group.
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On 28 January 2022 DoveVivo S.p.A (rebranded as Joivy in November 2023) acquired the existing shares from the shareholders in the company. Joivy therefore have a 100% shareholding in the company
The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.
The audit report was signed on 10 April 2024 by Mark Munro (FCA) (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.
Page 6
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