Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 09386560 Miss Elena MANFRONI Miss Elisabetta MOSCHIONI Mr Francesco VITA iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09386560 2023-12-31 09386560 2024-12-31 09386560 2024-01-01 2024-12-31 09386560 frs-core:CurrentFinancialInstruments 2024-12-31 09386560 frs-core:Non-currentFinancialInstruments 2024-12-31 09386560 frs-core:ComputerEquipment 2024-12-31 09386560 frs-core:ComputerEquipment 2024-01-01 2024-12-31 09386560 frs-core:ComputerEquipment 2023-12-31 09386560 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 09386560 frs-core:FurnitureFittings 2024-12-31 09386560 frs-core:FurnitureFittings 2024-01-01 2024-12-31 09386560 frs-core:FurnitureFittings 2023-12-31 09386560 frs-core:MotorVehicles 2024-12-31 09386560 frs-core:MotorVehicles 2024-01-01 2024-12-31 09386560 frs-core:MotorVehicles 2023-12-31 09386560 frs-core:OtherResidualIntangibleAssets 2024-12-31 09386560 frs-core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 09386560 frs-core:OtherResidualIntangibleAssets 2023-12-31 09386560 frs-core:PlantMachinery 2024-12-31 09386560 frs-core:PlantMachinery 2024-01-01 2024-12-31 09386560 frs-core:PlantMachinery 2023-12-31 09386560 frs-core:ShareCapital 2024-12-31 09386560 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 09386560 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09386560 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 09386560 frs-bus:SmallEntities 2024-01-01 2024-12-31 09386560 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09386560 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09386560 frs-core:UnlistedNon-exchangeTraded 2024-12-31 09386560 frs-core:UnlistedNon-exchangeTraded 2023-12-31 09386560 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 09386560 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 09386560 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 09386560 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 09386560 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 09386560 frs-bus:Director1 2024-01-01 2024-12-31 09386560 frs-bus:Director2 2024-01-01 2024-12-31 09386560 frs-bus:Director3 2024-01-01 2024-12-31 09386560 frs-countries:EnglandWales 2024-01-01 2024-12-31 09386560 2022-12-31 09386560 2023-12-31 09386560 2023-01-01 2023-12-31 09386560 frs-core:CurrentFinancialInstruments 2023-12-31 09386560 frs-core:Non-currentFinancialInstruments 2023-12-31 09386560 frs-core:ShareCapital 2023-12-31 09386560 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 09386560
Unico Gelato & Caffe Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
FIDCORP LIMITED
3rd Floor Portman House
2, Portman Street
London
W1H 6DU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09386560
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 129 688
Tangible Assets 5 318,295 428,405
Investments 6 60,832 52,328
379,256 481,421
CURRENT ASSETS
Stocks 7 73,330 69,031
Debtors 8 2,447,543 1,820,306
Cash at bank and in hand 156,953 97,498
2,677,826 1,986,835
Creditors: Amounts Falling Due Within One Year 9 (768,526 ) (585,194 )
NET CURRENT ASSETS (LIABILITIES) 1,909,300 1,401,641
TOTAL ASSETS LESS CURRENT LIABILITIES 2,288,556 1,883,062
Creditors: Amounts Falling Due After More Than One Year 10 (4,378,366 ) (3,353,657 )
NET LIABILITIES (2,089,810 ) (1,470,595 )
CAPITAL AND RESERVES
Called up share capital 11 121,950 121,950
Profit and Loss Account (2,211,760 ) (1,592,545 )
SHAREHOLDERS' FUNDS (2,089,810) (1,470,595)
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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.
On behalf of the board
Miss Elisabetta MOSCHIONI
Director
29/09/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Unico Gelato & Caffe Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09386560 . The registered office is 75 High Street, Bromley, Bromley, BR1 1JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – Small Entities and the requirements of the Companies Act 2006 relevant to small companies.
The financial statements have been prepared under the historical cost convention, except for certain financial instruments that have been measured at fair value where applicable.
These financial statements are presented in pounds sterling (£), which is the company’s functional currency.
2.2. Going Concern Disclosure
The directors have assessed the company’s financial position and have considered relevant future cash flows, liabilities, and external market conditions.
As at 31 December 2024, the company had net liabilities of £2,088,441 (2023: £1,470,593). Despite the reported losses, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.
2.3. Turnover
Revenue is measured at the fair value of consideration received or receivable, excluding value-added tax (VAT), trade discounts, and other sales-related taxes.
The company recognises revenue when:
  • The significant risks and rewards of ownership have been transferred to the buyer;
  • It is probable that future economic benefits will flow to the company;
  • The amount of revenue and costs incurred can be measured reliably.
Revenue is derived from the sale of goods, which is recognised at the point of sale when the goods have been delivered to and accepted by the customer.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets consist of branding assets, including the company’s trademark, logo design, and brand development costs. These assets are recognised at cost and are amortised over their estimated useful economic life of 4 years on a straight-line basis.
The directors have assessed that the branding assets generate future economic benefits and are therefore capitalised.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Straight Line
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 25% Straight Line
Computer Equipment 33% Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Investments
Investments in unlisted entities are recognised at cost less any impairment losses. The company holds minority equity interests in three private companies, which are strategically aligned with its core business activities.
Investment Strategy
The company has invested in these entities to support business expansion, improve supply chain synergies, and develop international market presence in the premium gelato and café sector. Each investment is assessed periodically for potential impairment, with reference to financial performance, market conditions, and expected future cash flows.
Nature of Investments
Cremeria Italiana LLC (USA) – 30% Shareholding (£25,176.91)
Cremeria Italiana LLC is a premium gelato and dessert company based in the United States.
The investment provides Unico Gelato & Caffe Ltd with strategic access to the North American market.
The directors consider this investment to be long-term, with potential future synergies in branding and product distribution.
IBB Srl (Italy) – 10% Shareholding (£22,610.44)
IBB Srl is an Italian-based supplier of artisanal gelato ingredients and café products.
The company’s investment in IBB Srl is aimed at securing quality supply chains and collaborating on product innovation.
Italy remains a key supplier of raw materials for Unico Gelato & Caffe Ltd, making this investment strategically significant.
Unico Gelato & Caffe Portugal (Portugal) – 20% Shareholding (£4,540.87)
Unico Gelato & Caffe Portugal operates gelato and café locations in Portugal under the Unico brand.
This investment aligns with the company’s European expansion plans and allows for localised brand presence in a growing market. The directors believe this investment will enhance Unico Gelato & Caffe Ltd’s brand awareness and sales footprint in Southern Europe.
Unico Italia Srl (Italy) – 100% Shareholding (£8,503.52)
Unico Italia Srl is the Italian operating company of the Unico group, fully owned by Unico Gelato & Caffe Ltd.
The entity is responsible for production, supply, and distribution of artisanal gelato and related products from Italy.The directors consider this subsidiary to be strategically important, ensuring quality control, authenticity, and efficiency in the supply chain while supporting the group’s international growth.
Impairment Considerations
As at 31 December 2024, the directors reviewed the carrying value of investments and determined that:
No impairment provisions were required, as the investments remain viable.
The financial performance of Cremeria Italiana LLC, IBB Srl, Unico Gelato & Caffe Portugal  and Unico Italia Srl was in line with expectations.
Market conditions in the USA, Italy, and Portugal remain favourable for business growth.
Any future indicators of impairment, such as declining financial performance, market contraction, or changes in strategic direction, will be considered in subsequent reporting periods.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 40 (2023: 29)
40 29
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4. Intangible Assets
Other
£
Cost
As at 1 January 2024 2,234
As at 31 December 2024 2,234
Amortisation
As at 1 January 2024 1,546
Provided during the period 559
As at 31 December 2024 2,105
Net Book Value
As at 31 December 2024 129
As at 1 January 2024 688
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 392,005 30,918 912,777 15,524 1,351,224
Additions 7,020 - 13,443 999 21,462
As at 31 December 2024 399,025 30,918 926,220 16,523 1,372,686
Depreciation
As at 1 January 2024 292,085 21,532 596,893 12,309 922,819
Provided during the period 39,636 1,878 88,865 1,193 131,572
As at 31 December 2024 331,721 23,410 685,758 13,502 1,054,391
Net Book Value
As at 31 December 2024 67,304 7,508 240,462 3,021 318,295
As at 1 January 2024 99,920 9,386 315,884 3,215 428,405
6. Investments
Unlisted
£
Cost or Valuation
As at 1 January 2024 52,328
Additions 8,504
As at 31 December 2024 60,832
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 60,832
As at 1 January 2024 52,328
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7. Stocks
2024 2023
£ £
Stock 73,330 69,031
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 69,529 22,742
Other debtors 2,024,515 1,624,480
2,094,044 1,647,222
Due after more than one year
Amounts owed by group undertakings 353,499 173,084
2,447,543 1,820,306
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 664,170 444,505
Bank loans and overdrafts 299 -
Other creditors 91,531 125,109
Taxation and social security 12,526 15,580
768,526 585,194
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 4,378,366 3,353,657
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 121,950 121,950
12. Related Party Transactions
During the year, the company engaged in financial transactions with related parties, including loans receivable and loans payable with partners, subsidiaries, and affiliated entities. All transactions were conducted under arm’s length terms.
12.1 Loans Receivable from Related Parties
As at 31 December 2024, the company had the following interest-bearing loans receivable from related parties. The interest accrued represents amounts charged during the financial year:
  • Unico Gelato & Caffe Portugal: Loan balance of £186,435.96, with £13,351.96 of interest accrued in 2024.
  • Gelato Mio Ltd: Loan balance of £1,559,085.40, with £31,181.71 of interest accrued in 2024.
  • Unico Italia Srl: Loan balance £167,062.70, with no interest accrued during the year. 
These loans are classified as long-term financial assets, and the directors confirm that no repayments are expected within 12 months.
...CONTINUED
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12. Related Party Transactions - continued
12.2 Loans Payable to Related Parties
The company also has partner loans payable, representing financial obligations to various investors and affiliated entities. The following balances were outstanding as at 31 December 2024, with the specified interest amounts accrued during the financial year:
  • Findi Investimenti: Loan payable of £1,974,930.97, with £138,245.17 of interest accrued in 2024.
  • Zola’s Family: Loan payable of £250,498.13, with £17,534.87 of interest accrued in 2024.
  • Gelato & Co Holdings Ltd: Loan payable of £1,385,000.00, with no interest accrued during the year.
  • Cremeria Funivia SRL: Loan payable of £237,459.04, with £16,622.13 of interest accrued in 2024.
  • Santi Marcello: Loan payable of £106,864.74, with £7,480.53 of interest accrued in 2024.
  • Vernesse Investment S.A.: Loan payable of £213,390.83, with £14,937.36 of interest accrued in 2024.
These loans represent financial support from partners and investors, and the company continues to assess its financing arrangements, ensuring compliance with market-based lending terms.
12.3 Interest Charges and Financial Impact
The total interest payable accrued on related party loans during the year amounted to £194,820.03. The directors have assessed these transactions and confirm that all balances remain recoverable and repayable under the agreed terms.
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