ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 09078127

ALTIDO LONDON LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

ALTIDO LONDON LIMITED

REGISTERED NUMBER:09078127

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	4		18,265		14,883
Tangible assets	5		827,410		857,387
			845,675		872,270
Current assets
Debtors: amounts falling due within one year	6	1,998,715		1,434,968
Cash at bank and in hand	7	803,042		714,134
		2,801,757		2,149,102
Creditors: amounts falling due within one year	8	(2,759,654)		(2,925,604)
Net current assets/(liabilities)			42,103		(776,502)
Total assets less current liabilities			887,778		95,768
Creditors: amounts falling due after more than one year	9		(21,601)		(75,601)
Provisions for liabilities
Deferred tax		(102,309)		-
			(102,309)		-
Net assets			763,868		20,167

Capital and reserves
Called up share capital	12	1,600,001	300,001
Profit and loss account		(836,133)	(279,834)
		763,868	20,167

ALTIDO LONDON LIMITED

REGISTERED NUMBER:09078127

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G Limongelli

Director

Date: 24 September 2025

The notes on form part of these financial statements.

ALTIDO LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

Altido London Limited is a private company, limited by shares, registered in England and Wales, registration number 09078127. The registered office is 26 Astwood Mews, London, SW7 4DE.
The principal activity of the company continued to be that of management of real estate.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

ALTIDO LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)

2.6

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.7

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	20%
Office equipment	-	33%
Computer equipment	-	33%
Other fixed assets	-	10%

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

ALTIDO LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)

2.9

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 15 (2023:16).

ALTIDO LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	INTANGIBLE ASSETS

		Computer software
		£
	COST
	At 1 January 2024	16,209
	Additions	5,911
	At 31 December 2024	22,120
	AMORTISATION
	At 1 January 2024	1,326
	Charge for the year on owned assets	2,529
	At 31 December 2024	3,855
	NET BOOK VALUE
	At 31 December 2024	18,265
	At 31 December 2023	14,883

ALTIDO LONDON LIMITED

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

	5.	TANGIBLE FIXED ASSETS

	Long-term leasehold improvements	Office equipment	Computer equipment	Other fixed assets	Total
	£	£	£	£	£
COST OR VALUATION
At 1 January 2024	733,275	10,680	5,001	195,720	944,676
Additions	52,722	2,690	1,304	65,662	122,378
At 31 December 2024	785,997	13,370	6,305	261,382	1,067,054
DEPRECIATION
At 1 January 2024	68,672	7,173	2,287	9,157	87,289
Charge for the year on owned assets	121,134	1,064	1,198	28,959	152,355
At 31 December 2024	189,806	8,237	3,485	38,116	239,644
NET BOOK VALUE
At 31 December 2024	596,191	5,133	2,820	223,266	827,410
At 31 December 2023	664,603	3,507	2,714	186,563	857,387

ALTIDO LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

DEBTORS

					2024	2023
					£	£


Trade debtors	92,405	101,129
Amounts owed by group undertakings	922,645	492,710
Other debtors	778,804	746,966
Prepayments and accrued income	204,861	94,163
	1,998,715	1,434,968

7.	CASH AND CASH EQUIVALENTS
		2024	2023
		£	£

Cash at bank and in hand	803,042	714,134
	803,042	714,134

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2024	2023
		£	£

Bank loans	54,000	54,000
Trade creditors	646,539	905,001
Amounts owed to group undertakings	690,719	1,224,768
Other taxation and social security	446,347	81,994
Other creditors	333,521	410,435
Accruals and deferred income	588,528	249,406
	2,759,654	2,925,604

9.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2024	2023
		£	£

Bank loans	21,601	75,601
	21,601	75,601

Bank loans are secured by way of fixed and floating charge over all assets of the Company

ALTIDO LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans	54,000	54,000


Amounts falling due after more than 1 year
Bank loans	21,601	75,601
	75,601	129,601

At the year end the company had a bank loan outstanding amounting to £25,000 (2023: £45,000), repayable in monthly installments of £1,667. Interest is payable at a rate of 3.99% per annum. The total balance is due for repayment in February 2026.
Additionally, at the year end the company had a second bank loan outstanding amounting to £50,601, (2023: £84,601) repayable in monthly installments of £2,833. Interest is payable at a rate of 3.99% per annum. The total balance is due for repayment in April 2027.

Not later than 1 year	1,853,396	1,783,703
Later than 1 year and not later than 5 years	4,520,253	5,843,140
Over 5 years	819,567	1,201,716
	7,193,216	8,828,559

12.	SHARE CAPITAL
		2024	2023
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

160,000,100 (2023:30,000,104) Ordinary shares of £0.01 each	1,600,001	300,001

An allotment of 130,000,000 Ordinary Shares of £0.01 each in the capital of the Company as par was issued on the 24th December 2024.

ALTIDO LONDON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,035 (2023: £14,659) . Contributions totalling £1,683 (2023: £2,554) were payable to the fund at the balance sheet date and are included in creditors.

14.	RELATED PARTY TRANSACTIONS
	As a wholly owned subsidary undertaking of Altido Limited, the company has taken advantage of the exemption in Financial Reporting Standard 102 Section 33 'Related party disclosures' in not disclosing intra group transactions between two or more members of the group.

15.	CONTROLLING PARTY

The 100% shareholding of the company was Altido Ltd incorporated in England and Wales. Altido Ltd is a 100% subsidary of Dovevivo S.P.A which rebranded in the year as Joivy.

16.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 24 September 2025 by Mark Munro FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.