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Registered number: 15124617
Florim UK Limited
Financial Statements
For The Year Ended 31 December 2025
Florim UK Limited
Contents
Contents

| Page
--- | ---
Company Information | 1
Balance Sheet | 2—3
Notes to the Financial Statements | 4—9

Page 1
Florim UK Limited
Company Information
For The Year Ended 31 December 2025
Company Information

Director | Miss Beatrice LUCCHESE
Company Number | 15124617
Registered Office | 19 The Circle
| Queen Elizabeth Street
| London
| SE1 2JE
Auditors | Anstey Bond LLP
| 1 Charterhouse Mews
| London
| EC1M 6BB
Bankers | Intesa San Paolo
| London Branch: 90
| Queen Street
| London
| EC4N 1SA

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Florim UK Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: 15124617

| 31 December 2025 | 31 December 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 474,377 |  | 537,247
|  |  | 474,377 |  | 537,247
CURRENT ASSETS
Stocks | 5 | 974,508 |  | - |
Debtors | 6 | 138,646 |  | 188,613 |
Cash at bank and in hand |  | 74,877 |  | 20,756 |
|  | 1,188,031 |  | 209,369 |
Creditors: Amounts Falling Due Within One Year | 7 | (1,788,608 ) |  | (228,925 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (600,577 ) |  | (19,556 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | (126,200 ) |  | 517,691
Creditors: Amounts Falling Due After More Than One Year | 8 |  | - |  | (500,720 )
NET (LIABILITIES)/ASSETS |  |  | (126,200 ) |  | 16,971
CAPITAL AND RESERVES
Called up share capital | 9 |  | 100,000 |  | 100,000
Profit and Loss Account |  |  | (226,200 ) |  | (83,029 )
SHAREHOLDERS' FUNDS |  |  | (126,200) |  | 16,971

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Florim UK Limited
Balance Sheet (continued)
As At 31 December 2025
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 director and authorised for issue on .............. and were signed by:

Miss Beatrice LUCCHESE Director
21/04/2026

The notes on pages 4 to 9 form part of these financial statements.
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Florim UK Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
Florim UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15124617 . The registered office is 19 The Circle, Queen Elizabeth Street, London, SE1 2JE.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 company is reliant on the support of its parent undertaking. It has received a letter confirming their continued support for at least the next twelve months.
After making enquiries, the director has a reasonable expectation that the company, and its parents undertaking, have adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.
2.3. Turnover
Revenue from agreements to provide support services to group companies and goods (goods delivered) is recognised in the period in which the goods and services are provided. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Leasehold | 10% SLM
Fixtures & Fittings | 25% SLM
Office Equipment | 25% SLM

2.5. 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.
2.6. Financial Instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
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.
...CONTINUED
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Florim UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.6. Financial Instruments - continued
The company’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including other debtors and cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, and intercompany working capital 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
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Florim UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.7. Foreign Currencies
Functional and presentation currency
The company's functional and presentational currency is Sterling (£).
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates
Of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured
at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured
at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end
exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except
when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit
and loss account within 'interest receivable and similar income' and 'interest payable and similar expenses'. All other
foreign exchange gains and losses are presented in profit or loss within administrative expense .
2.8. Pensions
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid thecompany has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
2.9. Current and Deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except
that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively
enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income
as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax
assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the
balance sheet date, except that:
•The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
•Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Florim UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.10. Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are
recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after
more than one year or that constitute a financing transaction are recorded initially at fair value less transaction
costs and subsequently at amortised cost, net of impairment
2.11. Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
2.12. Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the
effective interest method unless the effect of discounting would me immaterial, in which case they are stated at
cost.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 2)
5 2
4. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Fixtures & Fittings | Office Equipment | Total
| £ | £ | £ | £
Cost
As at 1 January 2025 | 539,355 | 25,758 | 9,978 | 575,091
As at 31 December 2025 | 539,355 | 25,758 | 9,978 | 575,091
Depreciation
As at 1 January 2025 | 31,982 | 4,199 | 1,663 | 37,844
Provided during the period | 53,936 | 6,439 | 2,495 | 62,870
As at 31 December 2025 | 85,918 | 10,638 | 4,158 | 100,714
Net Book Value
As at 31 December 2025 | 453,437 | 15,120 | 5,820 | 474,377
As at 1 January 2025 | 507,373 | 21,559 | 8,315 | 537,247

5. Stocks

| 31 December 2025 |  | 31 December 2024
--- | --- | --- | ---
| £ |  | £
Stock | 974,508 |  | -

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Florim UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
6. Debtors

| 31 December 2025 |  | 31 December 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 39,933 |  | -
Prepayments and accrued income | 34,092 |  | 129,969
Deposit - Store | 55,150 |  | 55,000
VAT | 9,471 |  | 3,644
| 138,646 |  | 188,613

7. Creditors: Amounts Falling Due Within One Year

| 31 December 2025 |  | 31 December 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 53,002 |  | 3,936
Amounts owed to group undertakings | 1,658,118 |  | 93,637
Other creditors | 60,296 |  | 122,985
Taxation and social security | 17,192 |  | 8,367
| 1,788,608 |  | 228,925

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

| 31 December 2025 |  | 31 December 2024
--- | --- | --- | ---
| £ |  | £
Amounts owed to group undertakings | - |  | 500,720

9. Share Capital

| 31 December 2025 |  | 31 December 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 100,000 |  | 100,000

Upon incorporation the company issued 100,000 ordinary shares of £1.00 each at par in order to establish the capital structure.
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Florim UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 31 December 2025 |  | 31 December 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 116,195 |  | 111,195
Later than one year and not later than five years | 580,973 |  | 580,973
Later than five years | 232,389 |  | 348,584
| 929,557 |  | 1,040,752

11. Related Party Transactions
At the balance sheet date, included within creditors, is an amount of £1,658,118 (2024: 93,637) due to Florim S.P.A, the parent company.
12. Ultimate Controlling Party
As at 31 December 2025, the company is controlled by Mr Claudio Lucchese, who holds the majority of the voting rights and has the ability to exercise control over the company. Accordingly, Mr Claudio Lucchese is the ultimate controlling party of the company.
The company forms part of a wider group which includes intermediate and parent undertakings incorporated overseas. However, the ultimate control of the company rests with the ultimate individual as disclosed above.
13. Audit Information
The auditor's report on the accounts of Florim UK Limited for the year ended 31 December 2025 was unqualified.
The auditor's report was signed by Michael Whyke FCA CF (Senior Statutory Auditor) for and on behalf of Anstey Bond LLP , Statutory Auditor.

Anstey Bond LLP 1 Charterhouse Mews London EC1M 6BB

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