ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

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.

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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.

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

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

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.

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