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REGISTERED NUMBER: 09882933 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ROMEO LONDON LIMITED

ROMEO LONDON LIMITED (REGISTERED NUMBER: 09882933)

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


ROMEO LONDON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: F Romeo
A Romeo
D Romeo





REGISTERED OFFICE: 7-10 Old Park Lane
London
W1K 1QR





REGISTERED NUMBER: 09882933 (England and Wales)





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

ROMEO LONDON LIMITED (REGISTERED NUMBER: 09882933)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,561 12,215
Investment property 5 138,275,030 128,048,591
138,287,591 128,060,806

CURRENT ASSETS
Debtors 6 2,269,545 1,934,126
Cash at bank 508,007 11,445
2,777,552 1,945,571
CREDITORS
Amounts falling due within one year 7 (552,834 ) (1,016,143 )
NET CURRENT ASSETS 2,224,718 929,428
TOTAL ASSETS LESS CURRENT
LIABILITIES

140,512,309

128,990,234

PROVISIONS FOR LIABILITIES (5,395,689 ) (2,445,452 )
NET ASSETS 135,116,620 126,544,782

CAPITAL AND RESERVES
Called up share capital 8 103,270,000 103,270,000
Fair value reserve 9 23,251,870 15,582,040
Retained earnings 8,594,750 7,692,742
SHAREHOLDERS' FUNDS 135,116,620 126,544,782

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 3 June 2025 and were signed on its behalf by:





A Romeo - Director


ROMEO LONDON LIMITED (REGISTERED NUMBER: 09882933)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Romeo London 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned members within the group.

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% straight line
Computer equipment - 33.33% straight line

An item of Property, Plant & Machinery is recognized if a future economic benefit associated with item will flow to the entity and the cost of the item can be measured reliably.

After initial recognition assets are depreciated over their estimated useful life on a straight line basis.

Tangible assets are derecognised on disposal or when no future economic benefit is expected from its use or disposal.
On derecognition a gain or loss is determined as the difference between the net disposal proceeds, if any, and the carrying amount of the item and is recognized in the income statement.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial assets
The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, prepayments, accrued income and cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable, prepayments, accrued income and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

ROMEO LONDON LIMITED (REGISTERED NUMBER: 09882933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial liabilities
The company's financial liabilities comprise of basic financial liabilities, including trade and other payables, corporation tax, accruals and deferred income. These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

ROMEO LONDON LIMITED (REGISTERED NUMBER: 09882933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 12,714
Additions 3,514
At 31 December 2024 16,228
DEPRECIATION
At 1 January 2024 499
Charge for year 3,168
At 31 December 2024 3,667
NET BOOK VALUE
At 31 December 2024 12,561
At 31 December 2023 12,215

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 128,048,591
Revaluation in year 10,226,439
At 31 December 2024 138,275,030
NET BOOK VALUE
At 31 December 2024 138,275,030
At 31 December 2023 128,048,591

The investment property has been valued by the directors by utilising the professional valuation by Chestertons prepared on an Investment Value (Net Worth) basis and released for the 2019 reporting year. The valuation was reviewed by the directors for the current year to bring it to fair value.

Fair value at 31 December 2024 is represented by:
£   
Cost 138,275,030

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,269,545 1,934,126

ROMEO LONDON LIMITED (REGISTERED NUMBER: 09882933)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 177,136 606,668
Taxation and social security 640 -
Other creditors 375,058 409,475
552,834 1,016,143

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
103,270,000 Ordinary 1 103,270,000 103,270,000

9. RESERVES
Fair
value
reserve
£   
At 1 January 2024 15,582,040
Revaluation in the year 7,669,830

At 31 December 2024 23,251,870

10. 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

11. RELATED PARTY DISCLOSURES

Consultancy costs include services provided by the directors. During the year, directors were paid £166,500 (2023: £186,500) under a consultancy agreement for their services.

During the year the company received £1,650,000 (2023: £7,230,000) as capital contribution from it's parent company.

12. ULTIMATE CONTROLLING PARTY

Romeo Partecipazioni S.p.A. (incorporated in Italy) is the immediate and ultimate parent company of Romeo London Limited by virtue of its 100% shareholding.
Romeo Partecipazioni S.p.A. produces consolidated financial statements and copies are available at their registered address in Italy, Via Giovanni Porzio 4, 80143 Napoli.