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Registration number: 09894021

Luisa Spagnoli UK Ltd Abridged Financial Statements for the Year Ended 31 December 2024
Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Luisa Spagnoli UK Ltd

Contents

Company Information | 1
Abridged Statement of Financial Position | 2
Notes to the Abridged Financial Statements | 3 to 6

Luisa Spagnoli UK Ltd

Company Information

Director | C Regonati

Company secretary | Ashdown Secretaries Limited

Registered office | 5th Floor 86 Jermyn Street London SW1Y 6AW

Auditors | Brebners Chartered Accountants & Statutory Auditor130 Shaftesbury Avenue London W1D 5AR

Luisa Spagnoli UK Ltd

(Registration number: 09894021)
Abridged Statement of Financial Position as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 5 | 310,751 | 124,764
Current assets |  |  |
Stocks | 6 | 1,050,468 | 899,997
Debtors | 7 | 106,380 | 98,495
Cash at bank and in hand |  | 85,657 | 84,495
|  | 1,242,505 | 1,082,987
Prepayments and accrued income |  | 9,936 | 30,783
Creditors: Amounts falling due within one year |  | (1,906,447) | (1,273,260)
Net current liabilities |  | (654,006) | (159,490)
Total assets less current liabilities |  | (343,255) | (34,726)
Accruals and deferred income |  | (25,169) | (29,237)
Net liabilities |  | (368,424) | (63,963)
Capital and reserves |  |  |
Called up share capital |  | 591,000 | 591,000
Retained earnings |  | (959,424) | (654,963)
Shareholders' deficit |  | (368,424) | (63,963)

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 16 September 2025

.........................................

C Regonati

Director

Luisa Spagnoli UK Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor
86 Jermyn Street
London
SW1Y 6AW

The principal activity of the company is that of the retail sale of clothing in specialised stores.

These financial statements were authorised for issue by the director on 16 September 2025.

2 | Audit Report

The Independent Auditor's Report contained a qualified opinion as set out below. The name of the Senior Statutory Auditor who signed the audit report on 16 September 2025 was Helen Evans, who signed for and on behalf of Brebners.

Qualified opinion

We have audited the financial statements of Luisa Spagnoli UK Ltd (the ' company ') for the year ended 31 December 2024 , which comprise the Abridged Statement of Financial Position, and Notes to the Abridged Financial Statements , including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

• | give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion on the financial statements

The company held stock of inventory at 31 December 2024 in two locations. In respect of one location, no physical stocktake was undertaken and thus we were unable to observe the counting of physical inventories held at that location at 31 December 2024. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2024 included in the statement of financial position at £82,077 out of the total inventory at that date of £1,050,468. Consequently we were unable to determine whether any adjustment to this amount was necessary.
Additionally, in respect of one stock location, no physical stocktake was undertaken for the year ended 31 December 2023, and thus we were unable to observe the counting of physical inventories held at that location at that date. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2023 included in the statement of financial position at £103,515 out of the total inventory at that date of £899,997. Consequently we were unable to determine whether any adjustment to this amount was necessary. or whether there was any consequential effect on the cost of sales for the year ended 31 December 2024.

Luisa Spagnoli UK Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

3 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company made a loss for the year ended 31 December 2024 and had a deficit of net assets at that date of £368,424. At that date an amount of £1,675,499 was due to the parent undertaking who has agreed not to call for repayment until such time as the company has sufficient working capital and to continue to provide further working capital if required.
The director has considered the effect of the current cost of living crisis in the UK and the global economic environment as impacted by ongoing conflicts overseas and believes that there will be no material impact on the ability of the company to continue as a going concern.
With the resources that the company has, including funding from the parent undertaking, the director believes that the company has sufficient working capital for a period exceeding 12 months from the approval of the financial statements.
On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue from the sale of goods at the point of sale when the amount can be reliably measured and it is probable that future economic benefits will flow.

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. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Luisa Spagnoli UK Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings and equipment | 5-10 years straight line
Leasehold improvements | Over the lease period

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods comprises direct materials and, where applicable, those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4 | Staff numbers

The average number of persons employed by the company during the year, was 10 (2023 - 10).

Luisa Spagnoli UK Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2024

5 | Tangible assets

| Leasehold improvements £ | Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2024 | 313,986 | 11,251 | 325,237
Additions | 100,989 | 129,810 | 230,799
At 31 December 2024 | 414,975 | 141,061 | 556,036
Depreciation
At 1 January 2024 | 195,074 | 5,399 | 200,473
Charge for the year | 36,405 | 8,407 | 44,812
At 31 December 2024 | 231,479 | 13,806 | 245,285
Carrying amount
At 31 December 2024 | 183,496 | 127,255 | 310,751
At 31 December 2023 | 118,912 | 5,852 | 124,764

6 | Stocks

| 2024 £ | 2023 £
Stock for resale | 1,050,468 | 899,997

7 | Debtors

Debtors includes an amount of £85,500 (2023 - £85,500) due after more than one year.

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The company has a commitment under a non cancellable operating lease amounting to 12% of future turnover. This arrangement remains in place until the occurrence of an event beyond the company's control. Following that event, the lease reverts to a fixed annual amount of £285,000, payable until April 2034.

9 | Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.