ACCOUNTS - Final Accounts preparation

Registered number: 16062136

IL BARETTO UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2025

IL BARETTO UK LIMITED

REGISTERED NUMBER: 16062136

BALANCE SHEET

AS AT 30 NOVEMBER 2025

		30 November 2025
Note		£

Fixed assets
Intangible assets	4		11,200
Tangible assets	5		9,085
			20,285
Current assets
Stocks	6	2,800
Debtors: amounts falling due within one year	7	2,486
Cash at bank and in hand	8	31,500
		36,786
Creditors: amounts falling due within one year	9	(57,068)
Net current (liabilities)/assets			(20,282)
Total assets less current liabilities			3

Net assets			3

Capital and reserves
Called up share capital	10	3
		3

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IL BARETTO UK LIMITED

REGISTERED NUMBER: 16062136

BALANCE SHEET (CONTINUED)

AS AT 30 NOVEMBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 on 20 July 2026.

................................................

Marco Stefanini

Director

The notes on pages 3 to 8 form part of these financial statements.

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IL BARETTO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2025

1.	General information

Il Baretto UK Limited is a private company limited by shares, incorporated in England and Wales on 05 November 2024. The principal activity throughout the period was that of a cafe and restaurant. The Company started trading on 01 April 2025.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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IL BARETTO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2025

2.Accounting policies (continued)

2.4

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other 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.

2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

25%

reducing balance

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.

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IL BARETTO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2025

2.Accounting policies (continued)

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8

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.

2.9

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.

2.10

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.

2.11

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.

Employees

The average monthly number of employees, including directors, during the period was 14.

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IL BARETTO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2025

4.	Intangible assets

		Goodwill
		£

	Additions	14,000
	At 30 November 2025	14,000

	Charge for the period on owned assets	2,800
	At 30 November 2025	2,800
	Net book value
	At 30 November 2025	11,200

5.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	Additions	12,114
	At 30 November 2025	12,114
	Depreciation
	Charge for the period on owned assets	3,029
	At 30 November 2025	3,029
	Net book value
	At 30 November 2025	9,085

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IL BARETTO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2025

6.	Stocks
		Period ended 30 November 2025
		£

	Finished goods and goods for resale	2,800
		2,800

Debtors

					Period ended 30 November 2025
					£


	Other debtors	2,486
		2,486

8.	Cash and cash equivalents
		Period ended 30 November 2025
		£

	Cash at bank and in hand	31,500
		31,500

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IL BARETTO UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2025

9.	Creditors: Amounts falling due within one year
		Period ended 30 November 2025
		£

	Trade creditors	546
	Corporation tax	24,138
	Other taxation and social security	2,866
	Other creditors	25,318
	Accruals and deferred income	4,200
		57,068

10.	Share capital
		Period ended 30 November 2025
		£

		Allotted, called up and fully paid

		2 Ordinary shares of £1 each	2
		1 Ordinary A share of £1	1

			3

Upon incorporation 3 Ordinary £1 shares were issued at par. During the year 1 Ordinary share was converted into Ordinary A £1 share.

11.	Controlling party

The Company is controlled by the directors, Marco and Zoe Stefanini, by virtue of their shareholding, as described in the Directors' report.

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