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Company No: 15434303 (England and Wales)

# PARTENOPEI (BROADSTAIRS) LTD

### Unaudited Financial Statements
For the financial period from 23 January 2024 to 31 January 2025
Pages for filing with the registrar

PARTENOPEI (BROADSTAIRS) LTD

## Unaudited Financial Statements

For the financial period from 23 January 2024 to 31 January 2025

Contents

PARTENOPEI (BROADSTAIRS) LTD

## COMPANY INFORMATION

For the financial period from 23 January 2024 to 31 January 2025
PARTENOPEI (BROADSTAIRS) LTD

## COMPANY INFORMATION (continued)

For the financial period from 23 January 2024 to 31 January 2025

Directors | Leonardo Carannante (Appointed 23 January 2024)
| Francesco Della Ragione (Appointed 23 January 2024)
| Pietro Formicola (Appointed 23 January 2024)
| Alessio Scorza (Appointed 23 January 2024)

Secretary | Sophie Audrey Formicola

Registered office | Kreston Reeves Llp Innovation House
| Ramsgate Road
| Sandwich
| CT13 9FF
| United Kingdom

Company number | 15434303 (England and Wales)

Accountant | Kreston Reeves LLP
| 37 St Margarets Street
| Canterbury
| Kent
| CT1 2TU

PARTENOPEI (BROADSTAIRS) LTD

## BALANCE SHEET

As at 31 January 2025
PARTENOPEI (BROADSTAIRS) LTD

## BALANCE SHEET (continued)

As at 31 January 2025

| Note | 31.01.2025
|  | £
Fixed assets |  |
Tangible assets | 3 | 69,329
|  | 69,329
Current assets |  |
Stocks | 4 | 10,500
Debtors | 5 | 557
Cash at bank and in hand |  | 14,072
|  | 25,129
Creditors: amounts falling due within one year | 6 | ( 105,202)
Net current liabilities |  | (80,073)
Total assets less current liabilities |  | (10,744)
Net liabilities |  | ( 10,744)
Capital and reserves |  |
Called-up share capital |  | 1
Profit and loss account |  | ( 10,745 )
Total shareholder's deficit |  | ( 10,744)

For the financial period ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Partenopei (Broadstairs) Ltd (registered number: 15434303) were approved and authorised for issue by the Board of Directors on 24 October 2025. They were signed on its behalf by:

Pietro Formicola Director |

PARTENOPEI (BROADSTAIRS) LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 January 2024 to 31 January 2025
PARTENOPEI (BROADSTAIRS) LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 January 2024 to 31 January 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

##### General information and basis of accounting

Partenopei (Broadstairs) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Kreston Reeves Llp Innovation House, Ramsgate Road, Sandwich, CT13 9FF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Reporting period length

These financial statements cover the period from 23 January 2024 to 31st January 2025, a period of 13 months. The extended period reflects the company’s first year of trading. This is a longer reporting period than the standard 12 months, and therefore the amounts presented in the financial statements are not entirely comparable with those of a typical annual period.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | depreciated over the life of the lease
Tools and equipment | 10 years straight line
Computer equipment | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### 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.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

#### 2. Employees

| Period from 23.01.2024 to 31.01.2025
| Number
Monthly average number of persons employed by the Company during the period, including directors | 5

#### 3. Tangible assets

| Land and buildings |  | Tools and equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 23 January 2024 | 0 |  | 0 |  | 0 |  | 0
Additions | 56,540 |  | 18,841 |  | 1,003 |  | 76,384
At 31 January 2025 | 56,540 |  | 18,841 |  | 1,003 |  | 76,384
Accumulated depreciation |  |  |  |  |  |  |
At 23 January 2024 | 0 |  | 0 |  | 0 |  | 0
Charge for the financial period | 5,115 |  | 1,689 |  | 251 |  | 7,055
At 31 January 2025 | 5,115 |  | 1,689 |  | 251 |  | 7,055
Net book value |  |  |  |  |  |  |
At 31 January 2025 | 51,425 |  | 17,152 |  | 752 |  | 69,329
Leased assets included above: |  |  |  |  |  |  |
Net book value |  |  |  |  |  |  |
At 31 January 2025 | 0 |  | 0 |  | 0 |  | 0

#### 4. Stocks

| 31.01.2025
| £
Stocks | 10,500

#### 5. Debtors

| 31.01.2025
| £
Prepayments | 557

#### 6. Creditors: amounts falling due within one year

| 31.01.2025
| £
Trade creditors | 12,735
Amounts owed to Group undertakings | 3,251
Amounts owed to directors | 53,874
Accruals | 2,848
Other taxation and social security | 26,104
Other creditors | 6,390
| 105,202

#### 7. Ultimate controlling party

Parent Company:

VESUVIO HOLDINGS (KENT) LTD
Kreston Reeves Llp Innovation House, Ramsgate Road, Sandwich, Kent, United Kingdom, CT13 9FF

The ultimate controlling party is Pietro Formicola by virtue of his majority shareholding in Vesuvio Holdings (Kent) Ltd.