BrightAccountsProduction v1.0.0 v1.0.0 2024-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of a holding company. 28 November 2025 7 7 09695112 2024-12-31 09695112 2023-12-31 09695112 2022-12-31 09695112 2024-01-01 2024-12-31 09695112 2023-01-01 2023-12-31 09695112 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09695112 uk-curr:USDollar 2024-01-01 2024-12-31 09695112 uk-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09695112 uk-bus:FullAccounts 2024-01-01 2024-12-31 09695112 uk-core:ShareCapital 2024-12-31 09695112 uk-core:ShareCapital 2023-12-31 09695112 uk-core:SharePremium 2024-12-31 09695112 uk-core:SharePremium 2023-12-31 09695112 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 09695112 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 09695112 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 09695112 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 09695112 uk-bus:FRS102 2024-01-01 2024-12-31 09695112 uk-core:CostValuation 2024-12-31 09695112 uk-core:CurrentFinancialInstruments 2024-12-31 09695112 uk-core:CurrentFinancialInstruments 2023-12-31 09695112 uk-core:CurrentFinancialInstruments 2024-12-31 09695112 uk-core:CurrentFinancialInstruments 2023-12-31 09695112 uk-core:WithinOneYear 2024-12-31 09695112 uk-core:WithinOneYear 2023-12-31 09695112 2024-01-01 2024-12-31 09695112 uk-bus:Director1 2024-01-01 2024-12-31 09695112 uk-bus:Director5 2024-01-01 2024-12-31 09695112 uk-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 xbrli:pure iso4217:USD xbrli:shares
Company Registration Number: 09695112
 
 
Italianity Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2024
Italianity Limited
Company Registration Number: 09695112
BALANCE SHEET
as at 31 December 2024

2024 2023
Notes $ $
 
Fixed Assets
Investments 5 2,670,614 2,670,614
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Current Assets
Debtors 6 658,417 649,115
Cash and cash equivalents 263 14,951
───────── ─────────
658,680 664,066
───────── ─────────
Creditors: amounts falling due within one year 7 (44,577) (54,751)
───────── ─────────
Net Current Assets 614,103 609,315
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Total Assets less Current Liabilities 3,284,717 3,279,929
═════════ ═════════
 
Capital and Reserves
Called up share capital 23,738 23,738
Share premium account 3,630,592 3,630,593
Retained earnings (369,613) (374,402)
───────── ─────────
Equity attributable to owners of the company 3,284,717 3,279,929
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 28 November 2025 and signed on its behalf by
           
           
________________________________     ________________________________
Matteo Bianchi     Alberto Gallinari
Director     Director
           



Italianity Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024

   
1. General Information
 
Italianity Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 09695112. The registered office of the company is 12 Bridewell Place, Third Floor East, London, EC4V 6AP, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in US Dollar ($) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable.
 
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 comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.
 
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.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Significant accounting judgements and key sources of estimation uncertainty
 

The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Judgement and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

(a) Key source of estimation uncertainty – valuation of investment in subsidiary

The company holds an investment in a subsidiary which is carried at cost less provision for impairment. The directors are required to assess at each reporting date whether there are indicators of impairment and, where such indicators exist, to estimate the recoverable amount of the investment. Determining the recoverable amount involves significant judgement, particularly in assessing the future financial performance of the subsidiary, expected cash flows, discount rates applied and the longer-term viability of the business. Changes in these assumptions could have a material impact on the carrying value of the investment and any impairment charge recognised in the financial statements.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was as follows:
 
  2024 2023
  Number Number
 
Directors 7 7
  ═════════ ═════════
     
5. Investments
  Group and
  participating
  interests/
  joint ventures
Investments $
Cost
 
At 31 December 2024 2,670,614
  ─────────
Net book value
At 31 December 2024 2,670,614
  ═════════
At 31 December 2023 2,670,614
  ═════════
 
The directors have considered the carrying value of subsidiaries undertakings and are satisfied that there is no impairment in these holdings.
       
6. Debtors 2024 2023
  $ $
 
Amounts owed by group undertakings 286,587 302,040
Amounts owed by connected parties (Note 9) 343,045 347,075
Prepayments and accrued income 28,785 -
  ───────── ─────────
  658,417 649,115
  ═════════ ═════════
 

Amounts owed by group undertakings and connected parties are unsecured, interest free and repayable on demand.

Prepayments and accrued income are repayable in accordance with standard commercial terms.
       
7. Creditors 2024 2023
Amounts falling due within one year $ $
 
Trade creditors 7,276 17,441
Amounts owed to connected parties (Note 9) 28,684 28,684
Accruals 8,617 8,626
  ───────── ─────────
  44,577 54,751
  ═════════ ═════════
 

Trade creditors and accruals are payable in accordance with standard commercial credit terms.

Amounts owed to connected parties are unsecured, non interest bearing and have no fixed repayment schedule.
       
8. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2024.
           
9. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
 
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  $ $ $ $
 
Shareholder Loans 343,045 (4,030) 347,075 347,075
 
The following amounts are due to other connected parties:
      2024 2023
      $ $
 
Shareholder Loans     28,684 28,684
      ═════════ ═════════
 
Net balances with other connected parties:
      2024 2023
      $ $
 
Shareholder Loans     314,361 318,391
      ═════════ ═════════
   
10. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.