Acorah Software Products - Accounts Production 17.1.130 false true true 31 December 2023 1 December 2022 false 14 April 2026 1 January 2024 31 December 2024 31 December 2024 10495572 Mr Gianlorenzo Beccuti Costadoro S.p.A. Lungo Dora Colletta 113/6, Torino, Italy true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10495572 2023-12-31 10495572 2024-12-31 10495572 2024-01-01 2024-12-31 10495572 frs-core:CurrentFinancialInstruments 2024-12-31 10495572 frs-core:Non-currentFinancialInstruments 2024-12-31 10495572 frs-core:BetweenOneFiveYears 2024-12-31 10495572 frs-core:MotorVehicles 2024-12-31 10495572 frs-core:MotorVehicles 2024-01-01 2024-12-31 10495572 frs-core:MotorVehicles 2023-12-31 10495572 frs-core:PlantMachinery 2024-12-31 10495572 frs-core:PlantMachinery 2024-01-01 2024-12-31 10495572 frs-core:PlantMachinery 2023-12-31 10495572 frs-core:WithinOneYear 2024-12-31 10495572 frs-core:OtherReservesSubtotal 2024-12-31 10495572 frs-core:ShareCapital 2024-12-31 10495572 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10495572 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10495572 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10495572 frs-bus:SmallEntities 2024-01-01 2024-12-31 10495572 frs-bus:Audited 2024-01-01 2024-12-31 10495572 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10495572 1 2024-01-01 2024-12-31 10495572 frs-bus:Director1 2024-01-01 2024-12-31 10495572 frs-countries:EnglandWales 2024-01-01 2024-12-31 10495572 2022-11-30 10495572 2023-12-31 10495572 2022-12-01 2023-12-31 10495572 frs-core:CurrentFinancialInstruments 2023-12-31 10495572 frs-core:Non-currentFinancialInstruments 2023-12-31 10495572 frs-core:BetweenOneFiveYears 2023-12-31 10495572 frs-core:MotorVehicles 2022-12-01 2023-12-31 10495572 frs-core:WithinOneYear 2023-12-31 10495572 frs-core:OtherReservesSubtotal 2023-12-31 10495572 frs-core:ShareCapital 2023-12-31 10495572 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 10495572
Costadoro UK Ltd
Financial Statements
For The Year Ended 31 December 2024
Welltax Limited
Costadoro UK Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—7

Page 1
Costadoro UK Ltd
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 10495572

| 31 December 2024 | 31 December 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 181,568 |  | 105,283
|  |  | 181,568 |  | 105,283
CURRENT ASSETS
Stocks | 5 | 121,068 |  | 87,339 |
Debtors | 6 | 139,286 |  | 56,431 |
Cash at bank and in hand |  | 35,610 |  | 54,257 |
|  | 295,964 |  | 198,027 |
Creditors: Amounts Falling Due Within One Year | 7 | (79,116 ) |  | (74,596 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 216,848 |  | 123,431
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 398,416 |  | 228,714
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (1,310,376 ) |  | (1,273,419 )
NET LIABILITIES |  |  | (911,960 ) |  | (1,044,705 )
CAPITAL AND RESERVES
Called up share capital | 10 |  | 100 |  | 100
Other reserves |  |  | 390,729 |  | -
Profit and Loss Account |  |  | (1,302,789 ) |  | (1,044,805 )
SHAREHOLDERS' FUNDS |  |  | (911,960) |  | (1,044,705)

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Costadoro UK Ltd
Balance Sheet (continued)
As At 31 December 2024
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors and were signed on its behalf by:

Mr Gianlorenzo Beccuti Director
07/04/2026

The notes on pages 3 to 7 form part of these financial statements.
Page 2
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Costadoro UK Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Costadoro UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10495572 . The registered office is 24 Fitzroy Square, London, W1T 6EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis.
As at 31 December 2024, the Company has incurred a loss for the financial period and has net liabilities. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.
However, the directors consider it appropriate to prepare the financial statements on a going concern basis for the following reasons:

- the Company is part of a wider group and continues to receive financial support from its parent company,
- Costadoro S.p.A.;
- the parent company has indicated its intention to continue providing financial support for at least the next 12
- months from the date of approval of these financial statements;
- the directors believe that the Company will be able to meet its liabilities as they fall due.

Accordingly, the financial statements do not include any adjustments that would result if the Company were unable to
continue as a going concern.
2.3. Significant judgements and estimations
In preparing these financial statements, the directors have made judgements, apart from those involving estimations, that have a significant effect on the amounts recognised in the financial statements.
The most significant judgement relates to the going concern assessment. In forming this judgement, the directors have considered the Company’s history of operating losses and its net liability position at the balance sheet date, together with the availability of continued financial support from the parent undertaking.
The key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year relate to:

- the estimation of recoverability of receivables;
- the assessment of useful lives and amortisation of intangible assets, including goodwill; and
- the measurement of any impairment indicators arising from continued operating losses.

Actual results may differ from these estimates.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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Costadoro UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the purchase price of the asset and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 6.67%
Motor Vehicles | Lease useful life

2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account
as they become payable in accordance with the rules of the scheme.
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Costadoro UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.11. Cash and Cash Equivalents
Cash and cash equivalents comprise cash at bank and in hand. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value. At the balance sheet date, cash and cash equivalents consisted entirely of cash held at bank.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 8)
6 8
4. Tangible Assets

| Plant & Machinery | Motor Vehicles | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | 38,687 | 102,904 | 141,591
Additions | 107,477 | - | 107,477
As at 31 December 2024 | 146,164 | 102,904 | 249,068
Depreciation
As at 1 January 2024 | 7,585 | 28,723 | 36,308
Provided during the period | 6,639 | 24,553 | 31,192
As at 31 December 2024 | 14,224 | 53,276 | 67,500
Net Book Value
As at 31 December 2024 | 131,940 | 49,628 | 181,568
As at 1 January 2024 | 31,102 | 74,181 | 105,283

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Motor Vehicles | 58,735 |  | 102,903

5. Stocks

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Stock | 121,068 |  | 87,339

6. Debtors

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 110,463 |  | 36,204
Other debtors | 28,823 |  | 20,227
| 139,286 |  | 56,431

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Costadoro UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
7. Creditors: Amounts Falling Due Within One Year

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 15,316 |  | 23,712
Trade creditors | 34,349 |  | 8,393
Bank loans and overdrafts | 17,874 |  | -
Other creditors | 5,644 |  | -
Taxation and social security | 5,933 |  | 42,491
| 79,116 |  | 74,596

8. Creditors: Amounts Falling Due After More Than One Year

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 43,419 |  | 58,736
Bank loans | - |  | 24,167
Amounts owed to participating interests | 1,266,957 |  | 1,190,516
| 1,310,376 |  | 1,273,419

9. Obligations Under Finance Leases and Hire Purchase

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 15,316 |  | 23,712
Later than one year and not later than five years | 43,419 |  | 58,736
| 58,735 |  | 82,448
| 58,735 |  | 82,448

10. Share Capital

| 31 December 2024 |  | 31 December 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100 |  | 100

11. Related Party Transactions
During the year the company had a related party balance with its parent company, Costadoro S.p.A. At 31 December 2024 the amount due to Costadoro S.p.A. creditor balance was £1,266,957.31.
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Costadoro S.p.A. . was incorporated in Italy. The ultimate controlling party is Costadoro S.p.A. who controls 100% of the shares of Costadoro UK Ltd .
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Costadoro UK Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
13. Audit Information
The auditor has issued a disclaimer of opinion on the financial statements for the year ended 31 December 2024, stating that they were unable to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion. Accordingly, no opinion has been expressed on the financial statements.
The auditor’s report has not been delivered to the Registrar of Companies. A copy of the auditor’s report is available from the company’s registered office.
The auditor's report was signed by Neil Johnston (Senior Statutory Auditor) for and on behalf of Albert Goodman LLP , Statutory Auditor.

Albert Goodman LLP 5th Floor 25 King St Bristol BS1 4PB

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