REGISTERED NUMBER: 06755808 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Italica UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F Marrone

S M Marrone

J K Marzo

R Marzo

REGISTERED OFFICE:

Unit 1

Chainbridge Road Industrial Estate

Tundry Way

Blaydon

Tyne and Wear

NE21 5SJ

REGISTERED NUMBER:

06755808 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Tangible assets

5

167,838

227,836

CURRENT ASSETS

Stocks

6

899,273

768,727

Debtors

7

2,133,972

407,548

Cash at bank and in hand

709,882

1,780,083

3,743,127

2,956,358

CREDITORS

Amounts falling due within one year

8

447,951

306,444

NET CURRENT ASSETS

3,295,176

2,649,914

TOTAL ASSETS LESS CURRENT LIABILITIES

3,463,014

2,877,750

PROVISIONS FOR LIABILITIES

41,105

28,029

NET ASSETS

3,421,909

2,849,721

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

3,421,907

2,849,719

SHAREHOLDERS' FUNDS

3,421,909

2,849,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

J K Marzo - Director

1.	STATUTORY INFORMATION

Italica UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 20 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

67,295

151,637

365,882

54,204

639,018

Additions

200

1,452

-

1,886

3,538

Disposals

-

-

-

(1,374

)

(1,374

)

At 31 March 2025

67,495

153,089

365,882

54,716

641,182

DEPRECIATION

At 1 April 2024

58,199

109,656

196,435

46,892

411,182

Charge for year

2,290

10,857

45,196

4,537

62,880

Eliminated on disposal

-

-

-

(718

)

(718

)

At 31 March 2025

60,489

120,513

241,631

50,711

473,344

NET BOOK VALUE

At 31 March 2025

7,006

32,576

124,251

4,005

167,838

At 31 March 2024

9,096

41,981

169,447

7,312

227,836

6.

STOCKS

31.3.25

31.3.24

£

£

Finished goods

899,273

768,727

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

324,015

294,115

Other debtors

1,809,957

113,433

2,133,972

407,548

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

137

Trade creditors

169,231

61,889

Taxation and social security

276,666

238,713

Other creditors

2,054

5,705

447,951

306,444

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

F Marrone

Balance outstanding at start of year

-

481,752

Amounts repaid

-

(481,752

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The above loan was repaid on 15 May 2023 and was provided interest free.