ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: SC502595

ALTIDO SCOTLAND LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

ALTIDO SCOTLAND LTD

REGISTERED NUMBER:SC502595

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		11,227		19,107
Tangible assets	5		241,834		113,642
			253,061		132,749
Current assets
Debtors: amounts falling due within one year	6	2,349,687		2,081,662
Cash at bank and in hand	7	2,108,437		411,461
		4,458,124		2,493,123
Creditors: amounts falling due within one year	8	(2,537,844)		(1,270,568)
Net current assets			1,920,280		1,222,555
Total assets less current liabilities			2,173,341		1,355,304
Creditors: amounts falling due after more than one year	9		(12,500)		(42,500)
Provisions for liabilities
Deferred tax	11		(23,792)		(15,531)
Net assets			2,137,049		1,297,273

Capital and reserves
Called up share capital	12	37,000	37,000
Profit and loss account		2,100,049	1,260,273
		2,137,049	1,297,273

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

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ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

Altido Scotland Limited in a private company limited by shares incorporated in Scotland. The registered office is 14-16 Jackson's Entry, Edinburgh, Scotland, EH8 8PJ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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

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.

2.3

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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.

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ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.6

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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.

The estimated useful lives range as follows:

Computer software

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.

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ALTIDO SCOTLAND LTD

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:

Leasehold Improvements	-	20%
Office equipment	-	33%
Computer equipment	-	33%
Other fixed assets	-	33%

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.

2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

EMPLOYEES

The average monthly number of employees, including directors, during the year was 27 (2024: 20).

4.	INTANGIBLE ASSETS

		Computer software
		£
	COST
	At 1 January 2025	25,249
	Additions	536
	At 31 December 2025	25,785
	AMORTISATION
	At 1 January 2025	6,142
	Charge for the year on owned assets	8,416
	At 31 December 2025	14,558
	NET BOOK VALUE
	At 31 December 2025	11,227
	At 31 December 2024	19,107

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		ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

TANGIBLE FIXED ASSETS

	Long-term leasehold improvements	Fixtures and fittings	Office equipment	Computer equipment	Other fixed assets	Total
	£	£	£	£	£	£
COST OR VALUATION
At 1 January 2025	95,663	-	43,515	20,479	23,332	182,989
Additions	103,156	14,570	2,366	3,522	44,318	167,932
At 31 December 2025	198,819	14,570	45,881	24,001	67,650	350,921
DEPRECIATION
At 1 January 2025	19,360	-	35,661	11,342	2,984	69,347
Charge for the year on owned assets	20,313	2,578	4,228	462	12,159	39,740
At 31 December 2025	39,673	2,578	39,889	11,804	15,143	109,087
NET BOOK VALUE
At 31 December 2025	159,146	11,992	5,992	12,197	52,507	241,834
At 31 December 2024	76,303	-	7,854	9,137	20,348	113,642

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ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

DEBTORS

					2025	2024
					£	£


Trade debtors	588,273	443,186
Amounts owed by group undertakings	1,557,890	1,490,274
Other debtors	79,406	96,224
Prepayments	124,118	51,978
	2,349,687	2,081,662

7.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	2,108,437	411,461
	2,108,437	411,461

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Bank loans	29,987	40,427
Trade creditors	357,988	221,533
Amounts owed to group undertakings	575,331	390,279
Corporation tax	153,967	18,028
Other taxation and social security	659,033	8,550
Other creditors	686,536	417,299
Accruals and deferred income	75,002	174,452
	2,537,844	1,270,568

9.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
		2025	2024
		£	£

Bank loans	12,500	42,500
	12,500	42,500

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ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans	29,987	40,427
	29,987	40,427
AMOUNTS FALLING DUE 1-2 YEARS
Bank loans	12,500	42,500
	12,500	42,500


	42,487	82,927

At the year end the company had a second bank loan outstanding amounting to £42,487, (2024: £72,500) repayable in monthly installments of £2,500. Interest is payable at a rate of 2.4% per annum. The total balance is due for repayment in April 2027.

11.	DEFERRED TAXATION

		2025
		£

	At beginning of year	(15,531)
	Charged to profit or loss	(8,261)
	AT END OF YEAR	(23,792)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

Fixed asset timing differences	(23,978)	(15,658)
Short term timing differences	186	127
	(23,792)	(15,531)

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ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.	SHARE CAPITAL
		2025	2024
		£	£

Ordinary share capital issued and not fully paid

100,000 (2024: 100,000) Ordinary shares of £0.37 each	37,000	37,000

13.	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 £8,524 (2024: £7,313) . Contributions totalling £3,048 (2024: £3,838) were payable to the fund at the balance sheet date and are included in creditors.

Not later than 1 year	1,463,192	612,252
Later than 1 year and not later than 5 years	4,945,638	1,809,778
Later than 5 years	2,743,231	1,353,911
	9,152,061	3,775,941

15.

RELATED PARTY TRANSACTIONS

As a wholly owned subsidary undertaking of Altido Limited, the company has taken advantage of the exemption in Financial Reporting Standard 102 Section 33 'Related party disclosures' in not disclosing intra group transactions between two or more 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 Scotland, will become a wholly owned sub of DoveVivo S.p.A

16.	CONTROLLING PARTY

The 100% shareholder of the company was Altido Ltd incorporated in England and Wales. Altido Ltd is a 100% subsidary of Dovevivo S.P.A

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ALTIDO SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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 13 July 2026 by Mark Munro BA FCA (Senior Statutory Auditor) on behalf of Bishop Fleming Audit Limited.

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