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REGISTERED NUMBER: 05781095 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

F2IT Limited

F2IT Limited (Registered number: 05781095)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


F2IT Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A Mene
M Raoss
L Tonello





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





REGISTERED NUMBER: 05781095 (England and Wales)





AUDITORS: Lawrence Johns
Registered Auditors
164 Field End Road
Eastcote
Middlesex
HA5 1RH

F2IT Limited (Registered number: 05781095)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,000 100,000
Tangible assets 5 17,823 20,297
97,823 120,297

CURRENT ASSETS
Debtors 6 3,549,623 2,769,650
Cash at bank 956,555 544,743
4,506,178 3,314,393
CREDITORS
Amounts falling due within one year 7 621,531 338,373
NET CURRENT ASSETS 3,884,647 2,976,020
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,982,470

3,096,317

PROVISIONS FOR LIABILITIES 4,456 -
NET ASSETS 3,978,014 3,096,317

CAPITAL AND RESERVES
Called up share capital 142 142
Share premium 379,928 379,928
Retained earnings 3,597,944 2,716,247
SHAREHOLDERS' FUNDS 3,978,014 3,096,317

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 4 April 2025 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 2024

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.
Fixtures and fittings - 20% on cost
Computer equipment - 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.

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.

F2IT Limited (Registered number: 05781095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 100,000
AMORTISATION
Amortisation for year 20,000
At 31 December 2024 20,000
NET BOOK VALUE
At 31 December 2024 80,000
At 31 December 2023 100,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 19,831 53,809 73,640
Additions - 4,497 4,497
Disposals - (958 ) (958 )
At 31 December 2024 19,831 57,348 77,179
DEPRECIATION
At 1 January 2024 4,732 48,611 53,343
Charge for year 3,966 2,238 6,204
Eliminated on disposal - (191 ) (191 )
At 31 December 2024 8,698 50,658 59,356
NET BOOK VALUE
At 31 December 2024 11,133 6,690 17,823
At 31 December 2023 15,099 5,198 20,297

F2IT Limited (Registered number: 05781095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 421,483 330,965
Amounts owed by group undertakings 3,091,679 2,392,151
Other debtors 22,946 13,339
Prepayments and accrued income 13,515 33,195
3,549,623 2,769,650

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 9,666 3,654
Amounts owed to group undertakings 5,083 -
Tax 289,239 230,422
Social security and other taxes 84,305 63,099
Other creditors 28,237 9,538
Accruals and deferred income 205,001 31,660
621,531 338,373

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

The Report of the Auditors was unqualified.

T M O'Keeffe (Senior Statutory Auditor)
for and on behalf of Lawrence Johns

9. RELATED PARTY DISCLOSURES

Included within debtors due less than one year is an amount of £2,641,679 (2023: £2,392,151) due from Dedagroup Stealth S.P.A, a fellow group subsidairy company. Also included within debtors due less than one year is an amount of £450,000 (2023: £nil) due from Quod Orbis Limited, a fellow group subsidiary company.

Included within other creditors is an amount of £5,083 (2023: £nil) due to Dedagroup Digital SRL, a fellow group subsidiary company.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dedagroup S.p.A. due to its indirect 100% shareholding in the company.