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Registration number: 09674762

Salvatori UK Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Salvatori UK Limited

Contents

Company Information | 1
Directors' Report | 2
Balance Sheet | 3
Statement of Changes in Equity | 4
Notes to the Unaudited Financial Statements | 5 to 9

Salvatori UK Limited

Company Information

Directors | K Swara S Catargiu

Company secretary | Laggan Secretaries Limited

Registered office | 5th Floor North Side 7/10 Chandos Street Cavendish Square London W1G 9DQ

Salvatori UK Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

K Swara

S Catargiu

L S Bertazza (ceased 31 May 2025)

Principal activity

The principal activity of the company is that of dealing in marble, stone, onyx and granite products.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:

......................................... S Catargiu Director

Salvatori UK Limited

(Registration number: 09674762)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 324,165 | 101,148
Current assets |  |  |
Stocks | 5 | 31,651 | 42,892
Debtors | 6 | 72,088 | 222,794
Cash at bank and in hand |  | 272,219 | 373,950
|  | 375,958 | 639,636
Creditors: Amounts falling due within one year | 7 | (361,447) | (307,469)
Net current assets |  | 14,511 | 332,167
Total assets less current liabilities |  | 338,676 | 433,315
Creditors: Amounts falling due after more than one year | 7 | (78,341) | (78,341)
Net assets |  | 260,335 | 354,974
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Retained earnings |  | 260,333 | 354,972
Shareholders' funds |  | 260,335 | 354,974

For the financial 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.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account and Directors' Report.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:

......................................... S Catargiu Director

Salvatori UK Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

| Share capital £ | Retained earnings £ | Total £
At 1 January 2024 | 2 | 354,972 | 354,974
Loss for the year | - | (94,639) | (94,639)
At 31 December 2024 | 2 | 260,333 | 260,335

| Share capital £ | Retained earnings £ | Total £
At 1 January 2023 | 2 | 492,747 | 492,749
Loss for the year | - | (137,775) | (137,775)
At 31 December 2023 | 2 | 354,972 | 354,974

Salvatori UK Limited

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
5th Floor North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ
United Kingdom

These financial statements were authorised for issue by the Board on 30 September 2025.

2 | 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 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 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 financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.
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.

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.

Salvatori UK Limited

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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
Plant and machinery | 33.33% straight line
Leasehold improvements | over the lease term
Furniture & Fittings | 20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) 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.

Salvatori UK Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Recognition and measurement
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in Profit or Loss Account.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

Salvatori UK Limited

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

4 | Tangible assets

| Long leasehold land and buildings £ | Fixtures and fittings £ | Other tangible assets £ | Total £
Cost or valuation
At 1 January 2024 | 395,140 | 8,871 | 2,568 | 406,579
Additions | 128,351 | 145,279 | 666 | 274,296
At 31 December 2024 | 523,491 | 154,150 | 3,234 | 680,875
Depreciation
At 1 January 2024 | 299,148 | 4,388 | 1,895 | 305,431
Charge for the year | 43,792 | 6,916 | 571 | 51,279
At 31 December 2024 | 342,940 | 11,304 | 2,466 | 356,710
Carrying amount
At 31 December 2024 | 180,551 | 142,846 | 768 | 324,165
At 31 December 2023 | 95,992 | 4,483 | 673 | 101,148

Included within the net book value of land and buildings above is £180,551(2023 - £95,992) in respect of long leasehold land and buildings.

5 | Stocks

| 2024 £ | 2023 £
Other inventories | 31,651 | 42,892

6 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 23,479 | 12,513
Prepayments | 46,826 | 53,075
Other debtors | 1,783 | 157,206
| 72,088 | 222,794

Salvatori UK Limited

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

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 8 | - | 294
Trade creditors |  | 268,811 | 97,838
Taxation and social security |  | 2,486 | 29,259
Accruals and deferred income |  | 35,768 | 42,461
Other creditors |  | 54,382 | 137,617
|  | 361,447 | 307,469

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 8 | 78,341 | 78,341

8 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Other borrowings | 78,341 | 78,341

Current loans and borrowings

| 2024 £ | 2023 £
Bank overdrafts | - | 294