Itachem UK Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09329014

Itachem UK Limited

Filleted Unaudited Financial Statements

31 December 2024

Itachem UK Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Investments	5		351,170	351,170

Current assets

Debtors	6	68,584	13,412
Cash at bank and in hand		10,962	19,497
		--------	--------
		79,546	32,909

Creditors: amounts falling due within one year	7	386,226		346,191
		---------		---------
Net current liabilities			306,680	313,282
			---------	---------
Total assets less current liabilities			44,490	37,888

Creditors: amounts falling due after more than one year	8	2,903	9,903
		--------	--------
Net assets		41,587	27,985
		--------	--------

Capital and reserves

Called up share capital	9	20,000	20,000
Profit and loss account		21,587	7,985
		--------	--------
Shareholders funds		41,587	27,985
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Itachem UK Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 16 December 2025 , and are signed on behalf of the board by:

A Iannacci

Director

Company registration number: 09329014

Itachem UK Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 5, Parker Avenue, Felixstowe, IP11 4HF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	351,170
	---------
Impairment
At 1 January 2024 and 31 December 2024	–
	---------

Carrying amount
At 31 December 2024	351,170
	---------
At 31 December 2023	351,170
	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	24,907	12,623
Prepayments and accrued income	21,986	–
Directors loan account	21,198	–
Other debtors	493	789
	--------	--------
	68,584	13,412
	--------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	7,000	7,000
Trade creditors	41,150	10,537
Accruals and deferred income	1,545	1,470
Corporation tax	10,377	5,020
Social security and other taxes	3,990	–
Director loan accounts	7,044	7,044
Other creditors	315,120	315,120
	---------	---------
	386,226	346,191
	---------	---------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	2,903	9,903
	-------	-------

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	12,800	12,800	12,800	12,800
Ordinary Class B shares of £ 1 each	7,200	7,200	7,200	7,200
	--------	--------	--------	--------
	20,000	20,000	20,000	20,000
	--------	--------	--------	--------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
F Velo	–	21,198	21,198
	----	--------	--------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
F Velo	–	–	–
	----	----	----

11. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2024	2023	2024	2023
	£	£	£	£
Cromchimica Industriale SRL	18,786	–	–	–
DCS Freight UK Ltd	1,377	–	( 688)	–
F Velo	56,422	–	21,198	–
A Innancci	5,820	–	–	–
GPH S.PA.	73,713	–	–	–
G Vergano	–	–	( 7,044)	–
	--------	----	--------	----

The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with wholly owned subsidiaries within the group.