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Company No: 09487231 (England and Wales)

DE GIROLAMI UK LIMITED

Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

DE GIROLAMI UK LIMITED

Financial Statements

For the financial year ended 31 December 2023

Contents

DE GIROLAMI UK LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
DE GIROLAMI UK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Peter Claridge (Appointed 02 April 2024)
Leonardo De Girolami (Resigned 02 April 2024)
REGISTERED OFFICE Unit 3 West Molesey Business Centre
West Molesey
KT8 2QZ
United Kingdom
COMPANY NUMBER 09487231 (England and Wales)
AUDITOR Dixon Wilson Audit Services LLP
22 Chancery Lane
London
WC2A 1LS
DE GIROLAMI UK LIMITED

BALANCE SHEET

As at 31 December 2023
DE GIROLAMI UK LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 5,536 0
Tangible assets 4 242,783 153,064
248,319 153,064
Current assets
Debtors 5 847,241 555,052
Cash at bank and in hand 43,710 124,221
890,951 679,273
Creditors: amounts falling due within one year 6 ( 373,789) ( 180,978)
Net current assets 517,162 498,295
Total assets less current liabilities 765,481 651,359
Provision for liabilities 7 ( 40,333) ( 23,636)
Net assets 725,148 627,723
Capital and reserves
Called-up share capital 10,000 10,000
Capital contribution reserve 525,967 525,967
Profit and loss account 189,181 91,756
Total shareholder's funds 725,148 627,723

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of De Girolami UK Limited (registered number: 09487231) were approved and authorised for issue by the Director on 08 October 2024. They were signed on its behalf by:

Peter Claridge
Director
DE GIROLAMI UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
DE GIROLAMI UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

De Girolami UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Unit 3 West Molesey Business Centre, West Molesey, KT8 2QZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of freight transport services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax.

The company recognises revenue in the period in which services are provided.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 6.67 years straight line
Vehicles 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Rentals under operating leases are charged on a straight-line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Capital contribution reserve

This reserve arose when the shareholder waived debt due from the company without receiving anything in return. The reserve is equal to the nominal value and book value of the debt which was waived.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 18 14

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2023 0 0
Additions 5,536 5,536
At 31 December 2023 5,536 5,536
Accumulated amortisation
At 01 January 2023 0 0
At 31 December 2023 0 0
Net book value
At 31 December 2023 5,536 5,536
At 31 December 2022 0 0

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 January 2023 2,564 212,570 18,049 233,183
Additions 0 118,920 42,677 161,597
Disposals 0 ( 39,100) ( 3,220) ( 42,320)
At 31 December 2023 2,564 292,390 57,506 352,460
Accumulated depreciation
At 01 January 2023 833 72,839 6,447 80,119
Charge for the financial year 385 62,673 8,820 71,878
Disposals 0 ( 39,100) ( 3,220) ( 42,320)
At 31 December 2023 1,218 96,412 12,047 109,677
Net book value
At 31 December 2023 1,346 195,978 45,459 242,783
At 31 December 2022 1,731 139,731 11,602 153,064

5. Debtors

2023 2022
£ £
Trade debtors 333,931 414,632
Other debtors 513,310 140,420
847,241 555,052

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 113,759 61,720
Taxation and social security 98,735 79,917
Other creditors 161,295 39,341
373,789 180,978

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 23,636) 0
Charged to the Profit and Loss Account ( 16,697) ( 23,636)
At the end of financial year ( 40,333) ( 23,636)

8. Related party transactions

Other related party transactions

During the year, the company's parent entity, D&G Spedizioni S.r.l provided a financial guarantee for the company in respect of a financial commitment.

9. Obligations under leases and hire purchase contracts

The total of future minimum lease payments is as follows

2023 2022
£ £
Not later than one year 457,470 91,779
Later than one year and not later than five years 1,324,342 170,816
1,781,812 262,595

10. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2023 was unqualified.

The audit report was signed by Steven Wakefield on behalf of Dixon Wilson Audit Services LLP.

11. Ultimate controlling party

Parent Company:

D. & G. Spedizioni S.R.L
Via Toscana 15
31045 Motta di Livenza
Italy

There is no single ultimate controlling party.

The company's immediate parent is D. & G. Spedizioni S.R.L, incorporated in Italy and these financial statements are included in the group accounts of this company.