ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: SC502595

ALTIDO SCOTLAND Ltd

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

ALTIDO SCOTLAND LIMITED

REGISTERED NUMBER:SC502595

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	4		19,107		-
Tangible assets	5		113,642		59,484
			132,749		59,484
Current assets
Debtors: amounts falling due within one year	6	2,081,662		1,274,429
Cash at bank and in hand	7	411,461		1,163,208
		2,493,123		2,437,637
Creditors: amounts falling due within one year	8	(1,270,568)		(1,262,766)
Net current assets			1,222,555		1,174,871
Total assets less current liabilities			1,355,304		1,234,355
Creditors: amounts falling due after more than one year	9		(42,500)		(82,923)
Provisions for liabilities
Deferred tax	11	(15,531)		(8,594)
			(15,531)		(8,594)
Net assets			1,297,273		1,142,838

Capital and reserves
Called up share capital	12	37,000	37,000
Profit and loss account		1,260,273	1,105,838
		1,297,273	1,142,838

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ALTIDO SCOTLAND LIMITED

REGISTERED NUMBER:SC502595

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 pages 3 to 10 form part of these financial statements.

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ALTIDO SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	GENERAL INFORMATION

Altido Scotland Limited in a private company limited by shares incorporated in Scotland. The registered office is 14-16 Jackson's Entry, Edinburgh, Scotland, EH8 8PJ.
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

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

INTEREST INCOME

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

2.5

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.

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ALTIDO SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.6

BORROWING COSTS

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

2.7

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.

2.8

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.

The estimated useful lives range as follows:

Computer software

years

2.9

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.

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ALTIDO SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

2.9

TANGIBLE FIXED ASSETS (CONTINUED)

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:

Leasehold Improvements	-	20%
Office equipment	-	33%
Computer equipment	-	33%
Other fixed assets	-	33%

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.

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.

2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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ALTIDO SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

EMPLOYEES

The average monthly number of employees, including directors, during the year was 20 (2023: 24).

4.	INTANGIBLE ASSETS

		Computer software
		£
	COST
	Additions	25,249
	At 31 December 2024	25,249
	AMORTISATION
	Charge for the year on owned assets	6,142
	At 31 December 2024	6,142
	NET BOOK VALUE
	At 31 December 2024	19,107
	At 31 December 2023	-

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		ALTIDO SCOTLAND 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	51,702	39,665	16,575	-	107,942
Additions	43,961	3,850	3,904	23,332	75,047
At 31 December 2024	95,663	43,515	20,479	23,332	182,989
DEPRECIATION
At 1 January 2024	9,303	29,134	10,021	-	48,458
Charge for the year on owned assets	10,057	6,527	1,321	2,984	20,889
At 31 December 2024	19,360	35,661	11,342	2,984	69,347
NET BOOK VALUE
At 31 December 2024	76,303	7,854	9,137	20,348	113,642
At 31 December 2023	42,399	10,531	6,554	-	59,484

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ALTIDO SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

DEBTORS

					2024	2023
					£	£


Trade debtors	443,186	280,308
Amounts owed by group undertakings	1,490,274	836,822
Other debtors	96,224	115,496
Prepayments	51,978	41,803
	2,081,662	1,274,429

7.	CASH AND CASH EQUIVALENTS
		2024	2023
		£	£

Cash at bank and in hand	411,461	1,163,208
	411,461	1,163,208

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

Bank loans	40,427	55,000
Trade creditors	221,533	214,188
Amounts owed to group undertakings	390,279	310,464
Corporation tax	18,028	-
Other taxation and social security	8,550	48,845
Other creditors	417,299	561,929
Accruals and deferred income	174,452	72,340
	1,270,568	1,262,766

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

Bank loans	42,500	82,923
	42,500	82,923

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ALTIDO SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans	40,427	55,000
	40,427	55,000


AMOUNTS FALLING DUE AFTER MORE THAN 5 YEARS
Bank loans	42,500	82,923
	42,500	82,923
	82,927	137,923

At the year end the company had a bank loan outstanding amounting to £10,420 (2023: £35,420), repayable in monthly installments of £2,083. Interest is payable at a rate of 3.19% per annum. The total balance is due for repayment in May 2026.
Additionally, at the year end the company had a second bank loan outstanding amounting to £72,500, (2023: £102,503) repayable in monthly installments of £2,500. Interest is payable at a rate of 2.4% per annum. The total balance is due for repayment in April 2027.

11.	DEFERRED TAXATION

		2024
		£

	At beginning of year	(8,594)
	Charged to profit or loss	(6,937)
	AT END OF YEAR	(15,531)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

Accelerated capital allowances	(15,658)	(8,594)
Short term timing differences	127	-
	(15,531)	(8,594)

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ALTIDO SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.	SHARE CAPITAL
		2024	2023
		£	£

Ordinary share capital issued and not fully paid

100,000 (2023: 100,000) Ordinary shares of £0.37 each	37,000	37,000

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 £7,313 (2023: £9,584) . Contributions totalling £3,838 (2023: £2,891) were payable to the fund at the balance sheet date and are included in creditors.

Not later than 1 year	612,252	612,960
Later than 1 year and not later than 5 years	1,809,778	1,601,407
Later than 5 years	1,353,911	-
	3,775,941	2,214,367

15.	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.

16.	CONTROLLING PARTY

The 100% shareholder of the company was Altido Ltd incorporated in England and Wales. Altido Ltd is a 100% subsidary of Dovevivo S.P.A

17.	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.

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