Florim UK Limited

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

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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)

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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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