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REGISTERED NUMBER: 10660625 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ALPENITE LTD

ALPENITE LTD (REGISTERED NUMBER: 10660625)

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


ALPENITE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: G Marcon
M Pecori





REGISTERED OFFICE: 38 Craven Street
London
WC2N 5NG





REGISTERED NUMBER: 10660625 (England and Wales)





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

ALPENITE LTD (REGISTERED NUMBER: 10660625)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,089 2,675

CURRENT ASSETS
Debtors 5 566,827 1,529,893
Cash at bank 544,497 1,493,576
1,111,324 3,023,469
CREDITORS
Amounts falling due within one year 6 (1,302,830 ) (2,523,611 )
NET CURRENT (LIABILITIES)/ASSETS (191,506 ) 499,858
TOTAL ASSETS LESS CURRENT
LIABILITIES

(187,417

)

502,533

CAPITAL AND RESERVES
Called up share capital 92,000 92,000
Retained earnings (279,417 ) 410,533
SHAREHOLDERS' FUNDS (187,417 ) 502,533

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 27 June 2025 and were signed on its behalf by:





G Marcon - Director


ALPENITE LTD (REGISTERED NUMBER: 10660625)

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


1. STATUTORY INFORMATION

Alpenite Ltd 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.

In respect of long-term contract and contract for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced and is recognised by reference to the stage of completion.

Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

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

Computer equipment: 33.33% on cost.

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if
appropriate or if there is an indication of a significant change since the last reporting date.

ALPENITE LTD (REGISTERED NUMBER: 10660625)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets:

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, 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 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.

Financial liabilities:

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables. 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.

ALPENITE LTD (REGISTERED NUMBER: 10660625)

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


2. ACCOUNTING POLICIES - continued

Going concern
The company made a loss after taxation of £689,950 (2023: £25,824) and has net liabilities of£187,417 as at 31 December 2024 (net assets 2023: 502,533). The financial statements have been prepared on the going concern basis. The company is reliant on its immediate parent company Arsenalia GmbH for financial support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 11,659
Additions 3,794
At 31 December 2024 15,453
DEPRECIATION
At 1 January 2024 8,984
Charge for year 2,380
At 31 December 2024 11,364
NET BOOK VALUE
At 31 December 2024 4,089
At 31 December 2023 2,675

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 277,462 1,385,174
Amounts owed by group undertakings 10,586 -
Amounts recoverable on contract 66,098 86,122
Other debtors 167,326 58,597
521,472 1,529,893

Amounts falling due after more than one year:
Other debtors 45,355 -

Aggregate amounts 566,827 1,529,893

ALPENITE LTD (REGISTERED NUMBER: 10660625)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 54,604 531,413
Amounts owed to group undertakings 977,787 1,512,249
Taxation and social security 100,388 67,329
Other creditors 170,051 412,620
1,302,830 2,523,611

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 3,075 -

8. 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

9. RELATED PARTY DISCLOSURES

During the year, the following fellow subsidiaries have sold services to Alpenite Ltd:
- Alpenite Srl for an amount of £1,639,378 (2023:£2,056,800);
- Arsenalia Digital (Vulcano Srl) for an amount of £108,803 (2023: £47,407);
- Altitudo Srl for an amount of £9,324 (2023: £4,490);
- Ccelera Srl for an amount of £9,140 (2023: £7,028);
- Amplize Srl for an amount of £104,539 (2023: £190,709);
- Actabase Srl for an amount of £75,825 (2023: £25,013);
- Arsenalia France for an amount of £4,854 (2023: £nil) and
- Arsenalia Real Estate Srl for an amount of £20 (2023: £nil).

During the year, Alpenite Ltd has sold services to the following fellow subsidiaries:
- Alpenite Srl for an amount of £14,121;
- Ccelera Srl for an amount of £3,522 and
- Arsenalia France for an amount of £21,789.

At year end, the company owed to:
- Alpenite Srl a net balance of £899,964 (2023: £1,350,534);
- Arsenalia Digital (Vulcano Srl) a net balance of £11,191 (2023: £38,328);
- Altitudo Srl a net balance of £9,402 (2023: £4,490);
- Ccelera Srl a net balance of £9,262 (2023: £7,028);
- Amplize Srl a net balance of £ 18,511 (2023: £87,108);
- Actabase Srl a net balance of £ 29,451 (2023: £24,734) and
- Arsenalia Real Estate Srl a net balance of £6 (2023: £nil).

At year end, the company was owed the following amounts by:
- Alpenite Srl a net balance of £10,422 and
- Arsenalia France a net balance of £164.

ALPENITE LTD (REGISTERED NUMBER: 10660625)

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


10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is ARSENALIA GMBH a company registered in Austria at the following address: Am Belvedere 4, Wien, 1100 Austria