REGISTERED NUMBER: 15850922 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 22 JULY 2024 TO 31 DECEMBER 2025

FOR

LAPALMA DESIGN UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Bassan

REGISTERED OFFICE:

117 St John Street

London

United Kingdom

EC1V 4JA

REGISTERED NUMBER:

15850922 (England and Wales)

AUDITORS:

N7 Accountants Limited

Statutory Auditors

Central House

1 Ballards Lane

London

N31LQ

FIXED ASSETS

Tangible assets

4

18,221

CURRENT ASSETS

Debtors

5

15,210

Cash at bank

25,335

40,545

CREDITORS

Amounts falling due within one year

6

(27,880

)

NET CURRENT ASSETS

12,665

TOTAL ASSETS LESS CURRENT LIABILITIES

30,886

PROVISIONS FOR LIABILITIES

(4,555

)

NET ASSETS

26,331

CAPITAL AND RESERVES

Called up share capital

10,000

Retained earnings

16,331

26,331

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2026 and were signed by:

M Bassan - Director

1.	STATUTORY INFORMATION

Lapalma Design Uk Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable in respect of services provided in the ordinary course of business, being consultancy and marketing services in relation to the promotion of the parent company’s products.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture & fittings 20% straight line

Computer Equipment 33.33% straight line

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables. These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled, or expires.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

20,834

At 31 December 2025

20,834

DEPRECIATION

Charge for period

2,613

At 31 December 2025

2,613

NET BOOK VALUE

At 31 December 2025

18,221

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

3,600

Other debtors

11,610

15,210

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

8,046

Taxation and social security

12,077

Other creditors

7,757

27,880

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Evangelos Charalampous (Senior Statutory Auditor)

for and on behalf of N7 Accountants Limited

8.	POST BALANCE SHEET EVENTS

Ms S Bocchetti ceased to be a director on 01 March 2026.

9.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Lapalma S.r.l. a company incorporated in Italy.

The ultimate parent company is LP21 S.r.l. a company incorporated in Italy. LP21 S.r.l produces consolidated financial statements and copies are available at their registered address in Italy, Via Ettore Majorana, 26, 35010 Cadoneghe PD.