Company No: 09213668 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Abridged Financial Statements

DIRECTORS	Anas Chakra
	Catherine Gazzoli
	Deepak Shahdadpuri
	Massimo Zorzi

REGISTERED OFFICE	112 St. Augustine Street C/O Portt & Co
	Suite 1.02
	Collar Factory
	Taunton
	TA1 1QN
	United Kingdom

COMPANY NUMBER

09213668 (England and Wales)

ACCOUNTANTS	Portt & Co
	Firepool Centre for Digital Innovation
	Trenchard Way
	Taunton
	TA1 1FH

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	5	4,197		6,674
Tangible assets	6	26,693		31,428
		30,890		38,102
Current assets
Stocks	7	1,059,596		845,368
Debtors
- due within one year		1,559,132		1,706,907
- due after more than one year		1,347,510		1,333,013
Cash at bank and in hand		33,605		121,264
		3,999,843		4,006,552
Creditors: amounts falling due within one year		( 1,465,130)		( 1,297,790)
Net current assets		2,534,713		2,708,762
Total assets less current liabilities		2,565,603		2,746,864
Creditors: amounts falling due after more than one year		( 75,500)		( 166,500)
Net assets		2,490,103		2,580,364
Capital and reserves
Called-up share capital	9	4,255		4,255
Share premium account		8,831,254		8,831,254
Profit and loss account		( 6,345,406 )		( 6,255,145 )
Total shareholders' funds		2,490,103		2,580,364

For the financial year ending 31 March 2025 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 financial year 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 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,
• All of the members of Piccolo Foods Ltd have consented to the preparation of the abridged financial statements for the financial year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements of Piccolo Foods Ltd (registered number: 09213668) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Massimo Zorzi Director

24 December 2025

1. Accounting policies

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

General information and basis of accounting

Piccolo Foods 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 112 St. Augustine Street C/O Portt & Co, Suite 1.02, Collar Factory, Taunton, TA1 1QN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Intangible assets

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:

Tangible assets

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.

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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	15		14

4. Interest payable

	2025		2024
	£		£
Interest payable and similar expenses	16,683		25,563

5. Intangible assets

	Total
	£
Cost
At 01 April 2024	25,807
At 31 March 2025	25,807
Accumulated amortisation
At 01 April 2024	19,133
Charge for the financial year	2,477
At 31 March 2025	21,610
Net book value
At 31 March 2025	4,197
At 31 March 2024	6,674

6. Tangible assets

	Total
	£
Cost
At 01 April 2024	246,047
Additions	11,807
At 31 March 2025	257,854
Accumulated depreciation
At 01 April 2024	214,619
Charge for the financial year	16,541
At 31 March 2025	231,161
Net book value
At 31 March 2025	26,693
At 31 March 2024	31,428

7. Stocks

	2025		2024
	£		£
Stocks	1,059,596		845,368

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	1,333,013		1,296,526
Credited to the Profit and Loss Account	14,497		36,487
At the end of financial year	1,347,510		1,333,013

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
35,960 Ordinary £0.10 shares of £ 0.10 each	3,596		3,596
6,587 Preference £0.10 shares of £ 0.10 each	659		659
	4,255		4,255