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REGISTERED NUMBER: 05781095 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

F2IT Limited

F2IT Limited (Registered number: 05781095)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F2IT Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Mene
M Raoss
L Tonello





REGISTERED OFFICE: 164 Field End Road
Eastcote
Middlesex
HA5 1RH





REGISTERED NUMBER: 05781095 (England and Wales)

F2IT Limited (Registered number: 05781095)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 100,000 -
Tangible assets 5 20,297 6,751
120,297 6,751

CURRENT ASSETS
Debtors 6 2,769,650 2,105,147
Cash at bank and in hand 544,743 567,587
3,314,393 2,672,734
CREDITORS
Amounts falling due within one year 7 338,373 364,106
NET CURRENT ASSETS 2,976,020 2,308,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,096,317

2,315,379

CAPITAL AND RESERVES
Called up share capital 142 142
Share premium 379,928 379,928
Retained earnings 2,716,247 1,935,309
SHAREHOLDERS' FUNDS 3,096,317 2,315,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

F2IT Limited (Registered number: 05781095)

Balance Sheet - continued
31 December 2023


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 26 January 2024 and were signed on its behalf by:





L Tonello - Director


F2IT Limited (Registered number: 05781095)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

F2IT 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is recognised at the staff transfer date for all tupe transactions where only the staff of an entity were transferred. The amortisation in the current year is nil.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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.

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.

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.

F2IT Limited (Registered number: 05781095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 100,000
At 31 December 2023 100,000
NET BOOK VALUE
At 31 December 2023 100,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 99,508
Additions 19,043
Disposals (44,911 )
At 31 December 2023 73,640
DEPRECIATION
At 1 January 2023 92,757
Charge for year 5,497
Eliminated on disposal (44,911 )
At 31 December 2023 53,343
NET BOOK VALUE
At 31 December 2023 20,297
At 31 December 2022 6,751

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 330,965 302,300
Other debtors 2,438,685 1,802,847
2,769,650 2,105,147

F2IT Limited (Registered number: 05781095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 3,654 99,613
Taxation and social security 293,521 258,047
Other creditors 41,198 6,446
338,373 364,106

8. RELATED PARTY DISCLOSURES

Included under Other Debtors is an amount of £2,392,151 (2022: £1,792,151) due from Dedagroup Spa. The ultimate controlling party of F2IT Limited is Zedonk Limited, a company that A Mene, M Raoss and L Tonello are also directors of.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party was Zedonk Ltd due to its 100% shareholding in the company.