Company registration number 13392718 (England and Wales)
CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,103,135
2,442,492
Current assets
Stocks
60,313
56,495
Debtors falling due after more than one year
5
157,500
157,500
Debtors falling due within one year
5
151,202
127,945
Cash at bank and in hand
308,537
116,477
677,552
458,417
Creditors: amounts falling due within one year
6
(671,791)
(687,654)
Net current assets/(liabilities)
5,761
(229,237)
Total assets less current liabilities
2,108,896
2,213,255
Creditors: amounts falling due after more than one year
7
(2,918,176)
(2,188,638)
Net (liabilities)/assets
(809,280)
24,617
Capital and reserves
Called up share capital
8
2,000,000
2,000,000
Profit and loss reserves
(2,809,280)
(1,975,383)
Total equity
(809,280)
24,617

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 April 2026 and are signed on its behalf by:
L Fiorini
Director
Company registration number 13392718 (England and Wales)
CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Cantinetta London Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Bonhill Street, London, EC2A 4DJ. The principal place of business is 4 Harriet Street, London, SW1X 9JR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern. The company made a loss of £833,897 during the year and has net liabilities of £809,280 at the year-end. It is reliant on the support of its shareholders who have funded the losses through equity of £2m and loans totalling £2,918,176 (including accrued interest). In September 2025 the shareholders capitalised £1.5m of the loans and the capital base is now £3.5m equity and £1.55m of interest-free shareholder loans. The company's financial performance has stablilised in 2025 and it expects to break-even on an EBITDA basis.

1.3
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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Straight line over the lease term
Leasehold improvements
Straight line over the lease term
Plant and equipment
15% straight line
Fixtures and fittings
15% straight line
Computers
25% straight line

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.

CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price

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.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
28
24
CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Leasehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
£
Cost
At 1 January 2024
94,052
1,864,444
513,130
175,114
39,000
2,685,740
Additions
-
0
1,100
2,098
9,819
1,056
14,073
At 31 December 2024
94,052
1,865,544
515,228
184,933
40,056
2,699,813
Depreciation and impairment
At 1 January 2024
21,555
155,785
44,900
15,320
5,688
243,248
Depreciation charged in the year
9,715
229,218
77,230
27,275
9,992
353,430
At 31 December 2024
31,270
385,003
122,130
42,595
15,680
596,678
Carrying amount
At 31 December 2024
62,782
1,480,541
393,098
142,338
24,376
2,103,135
At 31 December 2023
72,497
1,708,659
468,230
159,794
33,312
2,442,492
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,887
1,527
Other debtors
54,176
41,138
Prepayments and accrued income
79,139
85,280
151,202
127,945
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
157,500
157,500
Total debtors
308,702
285,445
CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
302,196
327,953
Taxation and social security
107,329
56,591
Other creditors
48,939
2,041
Accruals and deferred income
213,327
301,069
671,791
687,654
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other borrowings
2,918,176
2,188,638

Other borrowings are loans due to shareholders. These were interest-bearing up to 30 June 2025 and are interest-free from 1 July 2025. In September 2025 loans totalling £1.5m were capitalised such the the remaining shareholder loans are £1.55m and interest-free. The shareholders have agreed that no repayments are to be made until the company has sufficient financial resources.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2,000,000
2,000,000
2,000,000
2,000,000
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Material uncertainty relating to going concern

CANTINETTA LONDON LIMITED
CANTINETTA ANTINORI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Audit report information
(Continued)
- 7 -

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

We draw attention to note 1.2 of the financial statements which describes the basis of the going concern assumption. The company made a loss of £833,897 during the year and has net liabilities of £809,280 at the year-end. These conditions indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. O ur opinion is not modified in respect of this matter.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Senior Statutory Auditor:
Christopher Bates FCA
Statutory Auditor:
Begbies
Date of audit report:
22 April 2026
10
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
1,392,172
1,607,620
11
Parent company

The ultimate parent company of Cantinetta London Limited is Palazzo Antinori S.r.l. and its registered office is Piazza degli Antinori, 3, 50123 Firenze FI, Italy.

2024-12-31 2024-01-01 false false false 22 April 2026 CCH Software CCH Accounts Production 2025.100 No description of principal activity A Antinori R Giraudi R A Berkmann L Fiorini T Allerton 13392718 2024-01-01 2024-12-31 13392718 2024-12-31 13392718 2023-12-31 13392718 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-12-31 13392718 core:LeaseholdImprovements 2024-12-31 13392718 core:PlantMachinery 2024-12-31 13392718 core:FurnitureFittings 2024-12-31 13392718 core:ComputerEquipment 2024-12-31 13392718 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-12-31 13392718 core:LeaseholdImprovements 2023-12-31 13392718 core:PlantMachinery 2023-12-31 13392718 core:FurnitureFittings 2023-12-31 13392718 core:ComputerEquipment 2023-12-31 13392718 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 13392718 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 13392718 core:ShareCapital 2024-12-31 13392718 core:ShareCapital 2023-12-31 13392718 core:RetainedEarningsAccumulatedLosses 2024-12-31 13392718 core:RetainedEarningsAccumulatedLosses 2023-12-31 13392718 core:ShareCapitalOrdinaryShareClass1 2024-12-31 13392718 core:ShareCapitalOrdinaryShareClass1 2023-12-31 13392718 bus:Director4 2024-01-01 2024-12-31 13392718 core:LandBuildings core:LongLeaseholdAssets 2024-01-01 2024-12-31 13392718 core:LeaseholdImprovements 2024-01-01 2024-12-31 13392718 core:PlantMachinery 2024-01-01 2024-12-31 13392718 core:FurnitureFittings 2024-01-01 2024-12-31 13392718 core:ComputerEquipment 2024-01-01 2024-12-31 13392718 2023-01-01 2023-12-31 13392718 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-12-31 13392718 core:LeaseholdImprovements 2023-12-31 13392718 core:PlantMachinery 2023-12-31 13392718 core:FurnitureFittings 2023-12-31 13392718 core:ComputerEquipment 2023-12-31 13392718 2023-12-31 13392718 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 13392718 core:CurrentFinancialInstruments 2024-12-31 13392718 core:CurrentFinancialInstruments 2023-12-31 13392718 core:Non-currentFinancialInstruments 2024-12-31 13392718 core:Non-currentFinancialInstruments 2023-12-31 13392718 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 13392718 bus:OrdinaryShareClass1 2024-12-31 13392718 bus:OrdinaryShareClass1 2023-12-31 13392718 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13392718 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13392718 bus:FRS102 2024-01-01 2024-12-31 13392718 bus:Audited 2024-01-01 2024-12-31 13392718 bus:Director1 2024-01-01 2024-12-31 13392718 bus:Director2 2024-01-01 2024-12-31 13392718 bus:Director3 2024-01-01 2024-12-31 13392718 bus:Director5 2024-01-01 2024-12-31 13392718 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP