REGISTERED NUMBER: 04589545 (England and Wales)

Report of the Director and

Audited Financial Statements for the Year Ended 31 March 2026

for

Bonta' Italia Ltd

Page

Company Information

1

Report of the Director

2

Report of the Independent Auditors

3

Income Statement

7

Balance Sheet

8

Notes to the Financial Statements

9

DIRECTOR:

M Silvagni

REGISTERED OFFICE:

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

REGISTERED NUMBER:

04589545 (England and Wales)

AUDITORS:

Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The director presents his report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a wholesaler.

DIRECTOR

M Silvagni held office during the whole of the period from 1 April 2025 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

During the year the company made non-political donations totalling Nil (2025 :£160)

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Cartwrights, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M Silvagni - Director

3 June 2026

Opinion

We have audited the financial statements of Bonta' Italia Ltd (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, 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.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Director has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, and that they remained alert to instances of non-compliance throughout the audit.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- based on our understanding of the company and industry, and through discussions with directors and key management, we identified any specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; and

- we assessed the extent of compliance with these laws and regulations through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries, particularly focused around the year-end, to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates in the notes to the financial statements were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Eric Mcintyre FCCA (Senior Statutory Auditor)

for and on behalf of Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

3 June 2026

TURNOVER

11,639,445

11,571,477

Cost of sales

(9,142,629

)

(9,447,074

)

GROSS PROFIT

2,496,816

2,124,403

Administrative expenses

(1,818,641

)

(1,584,606

)

678,175

539,797

Gain/loss on revaluation of assets

-

(50,175

)

OPERATING PROFIT

4

678,175

489,622

Interest receivable and similar income

618

1,217

678,793

490,839

Interest payable and similar expenses

(40,102

)

(65,717

)

PROFIT BEFORE TAXATION

638,691

425,122

Tax on profit

(161,579

)

(116,530

)

PROFIT FOR THE FINANCIAL YEAR

477,112

308,592

FIXED ASSETS

Tangible assets

5

1,350,843

1,391,560

CURRENT ASSETS

Stocks

1,716,616

1,957,649

Debtors

6

1,841,584

1,872,846

Cash at bank

48,754

51,810

3,606,954

3,882,305

CREDITORS

Amounts falling due within one year

7

3,452,900

3,829,063

NET CURRENT ASSETS

154,054

53,242

TOTAL ASSETS LESS CURRENT LIABILITIES

1,504,897

1,444,802

CREDITORS

Amounts falling due after more than one year

8

(87,235

)

(155,832

)

PROVISIONS FOR LIABILITIES

(167,442

)

(175,862

)

NET ASSETS

1,250,220

1,113,108

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

1,249,220

1,112,108

SHAREHOLDERS' FUNDS

1,250,220

1,113,108

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

The financial statements were approved by the director and authorised for issue on 3 June 2026 and were signed by:

M Silvagni - Director

1.	STATUTORY INFORMATION

Bonta' Italia Ltd 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 as modified by the revaluation of certain assets.

Turnover

Revenue recognition - sale of goods

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Fixtures and fittings - 10% on cost

Computer equipment - 20% on cost

Motor vehicles - 20% on cost

Freehold property is not depreciated as it is maintained to a high standard.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

At the end of each reporting period financial assets are assessed for impairment. If an impairment exists the impairment loss is recognised in the income statement.

Financial assets are derecognised when:

- the contractual right to cash flows from the asset are settled or expire,

- substantially all the risk and rewards of the ownership of the asset are transferred to another party or

- despite retaining some significant risks and rewards, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset without additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at the transaction value.

They are then subsequently carried at amortised cost using the effective interest rate method.

Financial liabilities are derecognised when the liability is discharged, cancelled or expires.

Taxation

Taxation for the year 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 year 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.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2025 - 15 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31/3/26

31/3/25

£

£

Depreciation - owned assets

47,794

63,941

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2025

1,225,000

965,444

2,190,444

Additions

-

7,077

7,077

At 31 March 2026

1,225,000

972,521

2,197,521

DEPRECIATION

At 1 April 2025

-

798,884

798,884

Charge for year

-

47,794

47,794

At 31 March 2026

-

846,678

846,678

NET BOOK VALUE

At 31 March 2026

1,225,000

125,843

1,350,843

At 31 March 2025

1,225,000

166,560

1,391,560

The freehold property is secured against a mortgage by HSBC Bank Plc. The outstanding amount in respect of this mortgage at year end was £148,071 (2025: £198,119).

Freehold land and buildings with the value of £1,225,000 (2024: £1,225,000) were not depreciated.

Cost or valuation at 31 March 2026 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2023

415,000

-

415,000

Cost

810,000

972,521

1,782,521

1,225,000

972,521

2,197,521

Freehold land and buildings were revalued on the open market by Regal London on 22/06/2023.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Trade debtors

1,726,397

1,733,599

Other debtors

115,187

139,247

1,841,584

1,872,846

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/26

31/3/25

£

£

Bank loans and overdrafts (see note 9)

486,106

632,635

Trade creditors

1,224,171

1,499,006

Taxation and social security

187,834

148,818

Other creditors

1,554,789

1,548,604

3,452,900

3,829,063

The bank loan and bank facilities are secured by fixed and floating charges over the assets of the company.

The company has entered into a debt purchase agreement with HSBC to assist with collection of trade debtors.

As per the agreement within the United Kingdom there is a credit protection percentage of 100%. The credit protection percentage drops to 90% for other approved countries.

At the balance sheet date, the amount due to HSBC was £1,458,862 (2025 : £1,476,718) .

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/26

31/3/25

£

£

Bank loans (see note 9)

87,235

155,832

9.

LOANS

An analysis of the maturity of loans is given below:

31/3/26

31/3/25

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

425,271

470,556

Bank loans

60,835

162,079

486,106

632,635

Amounts falling due between one and two years:

Bank loans - 1-2 years

87,235

155,832

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/26

31/3/25

value:

£

£

500

Ordinary

£1

500

500

500

A Ordinary

o1

500

500

1,000

1,000

11.	ULTIMATE CONTROLLING PARTY

The company is not controlled by any one individual.