Company Registration No. 09735137 (England and Wales)
ItalSpirits Limited
Unaudited accounts
for the year ended 31 August 2025
ItalSpirits Limited
Unaudited accounts
Contents
ItalSpirits Limited
Company Information
for the year ended 31 August 2025
Company Number
09735137 (England and Wales)
Registered Office
Office 11.01
1 Lyric Square
London
W6 0NB
England
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
ItalSpirits Limited
Statement of financial position
as at 31 August 2025
Tangible assets
40,956
50,148
Cash at bank and in hand
104,760
219,120
Creditors: amounts falling due within one year
(157,790)
(151,426)
Net current assets
135,800
136,186
Total assets less current liabilities
198,493
200,121
Creditors: amounts falling due after more than one year
(33,946)
-
Provisions for liabilities
Deferred tax
(2,400)
(11,300)
Net assets
162,147
188,821
Called up share capital
100
100
Profit and loss account
162,047
188,721
Shareholders' funds
162,147
188,821
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 May 2026 and were signed on its behalf by
Giuseppe Gallo
Director
Company Registration No. 09735137
ItalSpirits Limited
Notes to the Accounts
for the year ended 31 August 2025
ItalSpirits Limited is a private company, limited by shares, registered in England and Wales, registration number 09735137. The registered office is Office 11.01, 1 Lyric Square, London, W6 0NB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease.
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The accounts have been prepared under the going concern basis, which is dependent upon the continued support of the directors and associated companies.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
ItalSpirits Limited
Notes to the Accounts
for the year ended 31 August 2025
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/or 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.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2024
5,090
77,705
2,079
84,874
Additions
1,604
39,852
791
42,247
Disposals
(390)
(77,705)
(478)
(78,573)
At 31 August 2025
6,304
39,852
2,392
48,548
At 1 September 2024
5,090
28,719
917
34,726
Charge for the year
386
10,295
696
11,377
On disposals
(390)
(37,843)
(278)
(38,511)
At 31 August 2025
5,086
1,171
1,335
7,592
At 31 August 2025
1,218
38,681
1,057
40,956
At 31 August 2024
-
48,986
1,162
50,148
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Investments
Other investments
Valuation at 1 September 2024
13,787
Valuation at 31 August 2025
13,787
ItalSpirits Limited
Notes to the Accounts
for the year ended 31 August 2025
Amounts falling due within one year
Trade debtors
2,483
(5,310)
Accrued income and prepayments
111,690
4,232
Amounts falling due after more than one year
Amounts due from group undertakings etc.
74,657
46,791
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Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
5,110
44,490
Trade creditors
14,229
16,672
Taxes and social security
14,094
10,971
Other creditors
2,908
3,993
Loans from directors
723
-
Deferred income
62,200
21,968
9
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
33,946
-
ItalSpirits Limited
Notes to the Accounts
for the year ended 31 August 2025
10
Deferred taxation
2025
2024
Accelerated capital allowances
2,400
11,300
Provision at start of year
11,300
11,300
Credited to the profit and loss account
(8,900)
-
Provision at end of year
2,400
11,300
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
11
Operating lease commitments
2025
2024
At 31 August 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
5,110
44,490
Later than one year and not later than five years
33,946
-
12
Transactions with related parties
Amounts due from group undertakings of £74,657 relates to amounts owed by Casa Savoia Ltd, a company under common control of director G Gallo.
13
Post balance sheet events
Post year-end, £8,787 of the investments held were sold for approximately €600,000. This took place in October 2025.
14
Average number of employees
During the year the average number of employees was 7 (2024: 5).