Pre Gel UK Ltd

	Page
Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3—6

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Pre Gel UK Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 11246947

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,953		1,753

			1,953		1,753
CURRENT ASSETS
Stocks	5	198,886		205,723
Debtors	6	89,414		171,411
Cash at bank and in hand		304,023		541,375

		592,323		918,509
Creditors: Amounts Falling Due Within One Year	7	(863,955 )		(1,361,370 )

NET CURRENT ASSETS (LIABILITIES)			(271,632 )		(442,861 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(269,679 )		(441,108 )

Creditors: Amounts Falling Due After More Than One Year	8		(171,813 )		-

NET LIABILITIES			(441,492 )		(441,108 )

CAPITAL AND RESERVES
Called up share capital	10		250,000		250,000
Profit and Loss Account			(691,492 )		(691,108 )

SHAREHOLDERS' FUNDS			(441,492)		(441,108)

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements of Pre Gel UK Ltd (registered number: 11246947) were approved and authorised for issue by the

Director on xxx . They were signed on its behalf by

Dario Rabboni

Director

15/09/2025

The notes on pages 3 to 6 form part of these financial statements.

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Pre Gel UK Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Pre Gel UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number

11246947 (ENGLAND & WALES).. The registered office is 128 City Road, London, United Kingdom, EC1V 2NX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The Financial statements are presented in Pounds sterling, which is the functional currency of the company and rounded to the nearest £.

2.2. Going Concern Disclosure

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.

The company relies on support of other group companies as it is loss making and in a net liability position.

2.3. Turnover

Turnover comprises the fair value of the consideration received or receivable for the wholesale of ice-cream products, net of VAT, 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 when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

2.4. Tangible Fixed Assets and Depreciation

Tangible assets are stated 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 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:

Computer Equipment

6.67 years straight line

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined

using the FIFO (first-in, first-out) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and 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 complete and sell; the impairment loss is recognised immediately in profit or loss.

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Pre Gel UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Financial Instruments

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2.7. Foreign Currencies

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise.

2.8. Taxation

Deferred tax

Deferred tax arises as a result of inducting 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.

2.9. Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

2.10. Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measure at amortised cost using the effective interest method.

2.11. Employee benefits

Defined contribution schemes

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 funds does not hold sufficient assets to pay all employees the benefits relating to employee service in the current or prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payment exceed the contribution due for service, the excess is recognised as a prepayment.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 5)

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Pre Gel UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	2,069
Additions	748
Disposals	(274 )

As at 31 December 2024	2,543

Depreciation
As at 1 January 2024	316
Provided during the period	407
Disposals	(133 )

As at 31 December 2024	590

Net Book Value
As at 31 December 2024	1,953

As at 1 January 2024	1,753

5. Stocks

	2024	2023
	£	£
Stock	198,886	205,723

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	89,045	89,763
Prepayments and accrued income	-	8,826
Other debtors	-	17,676
Withholding tax	-	393
Intercompany debtors	-	38,418
VAT receivable	369	16,335

	89,414	171,411

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	12,953	8,728
Net wages payable	2,240	-
Other creditors	1,796	1,267
Amount owed to group undertakings	-	176,666
Other taxation & Social Security	5,564	4,800
Intercompany creditor	831,504	1,155,351
Accruals	9,898	14,558

	863,955	1,361,370

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Pre Gel UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to group undertakings	171,813	-

The intercompany loan between PreGel S.P.A and PreGel UK LTD of £171,813 has been extended until 31.12.2028 from the previous maturity date of 31.12.2024, therefore the loan has been reclassified from creditors falling due within one year to creditors falling due after one year. Movements on the loan relate to accrued loan interest and foreign exchange movements.

9. Deferred Taxation

The provision for deferred tax is Nil for the current year (2023 : £Nil).

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	250,000	250,000

250,000 Ordinary shares of £1 each

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	5,573	9,486
Later than one year and not later than five years	1,858	8,409

	7,431	17,895

12. Ultimate Controlling Party

The parent of the smallest group in which these financial statements are consolidated is Syn-Gest S.r.l, incorporated in Italy.

The address of Syn-Gest S.r.l is:

Via Comparoni 64

42122 Reggio Emilia (RE) Italy

The company's immediate parent is Pre Gel S.p.a, incorporated in Italy.

The ultimate parent is Syn-Gest S.r.l, incorporated in Italy

13. Audit Information

The auditor's report on the accounts of Pre Gel UK Ltd for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Lucy Hatton FCCA (Senior Statutory Auditor) for and on behalf of Dafferns Audit Limited , Statutory Auditor.

Dafferns Audit Limited

One Eastwood

Binley Business Park

Coventry

CV3 2UB

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Director	Dario Rabboni

Company Number	11246947

Registered Office	128 City Road
	London
	United Kingdom
	EC1V 2NX

Business	128 City Road
	London
	United Kingdom
	EC1V 2NX

Auditors	Dafferns Audit Limited
	One Eastwood
	Binley Business Park
	Coventry
	CV3 2UB