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| Registered number: 09078127
ALTIDO LONDON LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
ALTIDO LONDON LIMITED REGISTERED NUMBER:09078127 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 16,174 |  | 18,265
Tangible assets | 5 |  | 799,627 |  | 827,410
|  |  | 815,801 |  | 845,675
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 2,087,402 |  | 1,998,715 |
Cash at bank and in hand | 7 | 462,251 |  | 803,042 |
|  | 2,549,653 |  | 2,801,757 |
Creditors: amounts falling due within one year | 8 | (2,476,016) |  | (2,759,654) |
Net current assets |  |  | 73,637 |  | 42,103
Total assets less current liabilities |  |  | 889,438 |  | 887,778
Creditors: amounts falling due after more than one year | 9 |  | - |  | (21,601)
Provisions for liabilities |  |  |  |  |
Deferred tax |  |  | (63,646) |  | (102,309)
Net assets |  |  | 825,792 |  | 763,868
Capital and reserves |  |  |  |  |
Called up share capital | 12 |  | 1,600,001 |  | 1,600,001
Other reserves | 13 |  | 591,413 |  | -
Profit and loss account | 13 |  | (1,365,622) |  | (836,133)
|  |  | 825,792 |  | 763,868
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A Casiraghi
Director
Date: 20 May 2026
The notes on pages 2 to 10 form part of these financial statements. Page 1
ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | GENERAL INFORMATION
Altido London Limited is a private company, limited by shares, registered in England and Wales, registration number 09078127. The registered office is Hamilton House, Mabledon Place, London, WC1H 9BB. The principal activity of the company continued to be that of management of real estate. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | FOREIGN CURRENCY TRANSLATION
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances 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 Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 2
ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.3 | REVENUE
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 Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | BORROWING COSTS
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.7 | CURRENT AND DEFERRED TAXATION
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.8 | INTANGIBLE ASSETS
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.9 | TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 4
ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.9 | TANGIBLE FIXED ASSETS (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | 20% |
|  |  |  | Office equipment | - | 33% |
|  |  |  | Computer equipment | - | 33% |
|  |  |  | Other fixed assets | - | 10% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | PROVISIONS FOR LIABILITIES
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the year was 7 (2024:15).
Page 5
ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | INTANGIBLE ASSETS
|  | Computer software
|  | £
| COST |
| At 1 January 2025 | 22,120
| At 31 December 2025 | 22,120
| AMORTISATION |
| At 1 January 2025 | 3,855
| Charge for the year on owned assets | 2,091
| At 31 December 2025 | 5,946
| NET BOOK VALUE |
| At 31 December 2025 | 16,174
| At 31 December 2024 | 18,265
Page 6

|  | ALTIDO LONDON LIMITED |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| 5. | TANGIBLE FIXED ASSETS
|  | Long-term leasehold improvements | Office equipment | Computer equipment | Other fixed assets | Total
|  | £ | £ | £ | £ | £
| COST OR VALUATION |  |  |  |  |
| At 1 January 2025 | 785,997 | 13,370 | 6,305 | 261,382 | 1,067,054
| Additions | 27,814 | 51,153 | 1,109 | 61,770 | 141,846
| At 31 December 2025 | 813,811 | 64,523 | 7,414 | 323,152 | 1,208,900
| DEPRECIATION |  |  |  |  |
| At 1 January 2025 | 189,806 | 8,237 | 3,485 | 38,116 | 239,644
| Charge for the year on owned assets | 123,222 | 10,470 | 1,388 | 34,549 | 169,629
| At 31 December 2025 | 313,028 | 18,707 | 4,873 | 72,665 | 409,273
| NET BOOK VALUE |  |  |  |  |
| At 31 December 2025 | 500,783 | 45,816 | 2,541 | 250,487 | 799,627
| At 31 December 2024 | 596,191 | 5,133 | 2,820 | 223,266 | 827,410
Page 7

ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 171,502 | 92,405
| Amounts owed by group undertakings | 765,107 | 922,645
| Other debtors | 858,085 | 778,804
| Prepayments and accrued income | 292,708 | 204,861
|  | 2,087,402 | 1,998,715
7. | CASH AND CASH EQUIVALENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 462,251 | 803,042
|  | 462,251 | 803,042
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 23,151 | 54,000
| Trade creditors | 584,912 | 646,539
| Amounts owed to group undertakings | 530,425 | 690,719
| Other taxation and social security | 541,948 | 446,347
| Other creditors | 290,599 | 333,521
| Accruals and deferred income | 504,981 | 588,528
|  | 2,476,016 | 2,759,654
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 21,601
|  | - | 21,601
| Bank loans are secured by way of fixed and floating charge over all assets of the Company.
Page 8
ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | LOANS
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| AMOUNTS FALLING DUE WITHIN ONE YEAR |  |
| Bank loans | 23,151 | 54,000
| AMOUNTS FALLING DUE 1-2 YEARS |  |
| Bank loans | - | 21,601
|  | - | 21,601
|  | 23,151 | 75,601
| At the year end the company had a bank loan outstanding amounting to £5,000 (2024: £25,000), repayable in monthly installments of £1,667. Interest is payable at a rate of 3.99% per annum. The total balance is due for repayment in February 2026. Additionally, at the year end the company had a second bank loan outstanding amounting to £18,151, (2024: £50,601) repayable in monthly installments of £2,833. Interest is payable at a rate of 3.99% per annum. The total balance is due for repayment in April 2026.
11. | COMMITMENTS UNDER OPERATING LEASES
| At 31 Decemeber 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 2,029,815 | 1,853,396
| Later than 1 year and not later than 5 years | 3,703,853 | 4,520,253
| Over 5 years | 1,072,043 | 819,567
|  | 6,805,711 | 7,193,216
12. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |  |
|  | 160,000,100 (2024:160,000,100) Ordinary shares of £0.01 each | 1,600,001 | 1,600,001
Page 9
ALTIDO LONDON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
13. | RESERVES
Other reserves Other reserves represent capital contributions from the parent company. During the year, £500,000 of intercompany debt and £91,413 of accrued interest were capitalised and recognised as a capital contribution, with a corresponding credit to other reserves. Profit and loss account The profit and loss account includes all current and prior period retained profits and losses.
14. | PENSION COMMITMENTS
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,669 (2024: £13,035). Contributions totalling £174 (2024: £1,683) were payable to the fund at the balance sheet date and are included in creditors.
15. | RELATED PARTY TRANSACTIONS
| As a wholly owned subsidiary undertaking of Altido Limited, the company has taken advantage of the exemption available under FRS 102 Section 33 from disclosing transactions with other wholly owned members of the group. During the year, the company’s parent undertaking started a group wide restructure. At the reporting date, the company remains a wholly owned subsidiary of this entity. It is intended that the company, Altido London, will become a wholly owned sub of DoveVivo S.p.A
16. | CONTROLLING PARTY
The 100% shareholding of the company was Altido Ltd incorporated in England and Wales. Altido Ltd is a 100% subsidary of DoveVivo S.p.A
17. | AUDITORS' INFORMATION
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 14 July 2026 by Mark Munro BA FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.
Page 10