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REGISTERED NUMBER: 10066999 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

SORINT.LAB UK LIMITED

SORINT.LAB UK LIMITED (REGISTERED NUMBER: 10066999)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SORINT.LAB UK LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: L Pedrazzini





REGISTERED OFFICE: 38 Craven Street
London
WC2N 5NG





REGISTERED NUMBER: 10066999 (England and Wales)





AUDITORS: Belluzzo Audit Limited
Chartered Accountants and Statutory Auditors
38 Craven Street
London
WC2N 5NG

SORINT.LAB UK LIMITED (REGISTERED NUMBER: 10066999)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,985 5,174

CURRENT ASSETS
Debtors 5 131,857 107,721
Cash at bank 68,819 16,090
200,676 123,811
CREDITORS
Amounts falling due within one year 6 (1,345,099 ) (770,626 )
NET CURRENT LIABILITIES (1,144,423 ) (646,815 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,141,438

)

(641,641

)

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings (1,146,438 ) (646,641 )
(1,141,438 ) (641,641 )

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 director and authorised for issue on 5 September 2024 and were signed by:





L Pedrazzini - Director


SORINT.LAB UK LIMITED (REGISTERED NUMBER: 10066999)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Sorint.LAB UK 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern

The financial statements have been prepared on the going concern basis. The director considers this appropriate as it is expected that the shareholder of the company will continue to support, for a period of at least twelve months from signing of the financial statements, in order for the company to settle its liabilities as they fall due.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable on the goods and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity. The company's main activity can described as the sales of providing consultancy and services to accelerate digital transformation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery 33.33% straight line

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 or deferred taxation assets and liabilities are not discounted.

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.

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.

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.

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.

SORINT.LAB UK LIMITED (REGISTERED NUMBER: 10066999)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Debtors
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.

Creditors
Short term trade 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 10,453
Additions 142
At 31 December 2023 10,595
DEPRECIATION
At 1 January 2023 5,279
Charge for year 2,331
At 31 December 2023 7,610
NET BOOK VALUE
At 31 December 2023 2,985
At 31 December 2022 5,174

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,000 31,090
Amounts owed by group undertakings 87,756 34,931
Other debtors 35,101 41,700
131,857 107,721

SORINT.LAB UK LIMITED (REGISTERED NUMBER: 10066999)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,866 16,976
Amounts owed to group undertakings 1,283,085 693,128
Taxation and social security 14,303 13,862
Other creditors 43,845 46,660
1,345,099 770,626

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

The Report of the Auditors was unqualified.

Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited

8. RELATED PARTY DISCLOSURES

During the year, the company received goods and services from Sorint.Lab SpA for the amount of £ 27,937 (2022 :£25,071) and recharged fee in relation to services provided for the amount of £75,672 (2022: £47,883).

During the year, the company recharged fees for services to Sorint Lab DE for the amount of £695 (2022: £Nil).

During the year, the company recharged fees for services to Sorint Lab Spain for the amount of nil (2022: £29,104).

During the year, the company recharged fees for services to Sorint Lab US for the amount of £44,210 (2022: £Nil).

The balance owed to Sorint.Lab SpA Italy at the end of the year amounted to £1,283,085 (2022: £693,128).

The balance owed from Sorint.Lab DE at the end of the year amounted to £695 (2022: £Nil).

The balance owed from Sorint.Lab Spain at the end of the year was nil (2022: £34,931).

The balance owed from Sorint.Lab US at the end of the year amounted to £42,279 (2022: £Nil).

The balance owed from Sorint.Lab SpA at the end of the year amounted to £44,782 (2022: £Nil).

9. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Sorint.lab S.p.A, a company registered in Italy.

The ultimate parent undertaking and the smallest and largest group to consolidate these financial statements is Sorint.lab S.p.A.

Copies of the Sorint.lab S.p.A consolidated financial statements can be obtained from the Company Secretary at Via Zanica 17, 24050 Grassobbio ( BG) Italy.

The ultimate controlling party is Ms Annalisa Cortellini, Ms Chiara Marilli and Ms Marta Marilli.(parent company's shareholders who jointly co-operate to control the company).