Rimadesio UK Ltd - Accounts

Registered number

11677998

Rimadesio UK Ltd

Report and Accounts

31 December 2025

Rimadesio UK Ltd
Report and accounts
Contents




Page

Company information	1
Directors' report	2-3
Statement of directors' responsibilities	4
Independent auditor's report	5-7
Profit and loss account	8
Statement of comprehensive income	9
Balance sheet	10
Statement of changes in equity	11
Notes to the accounts	12

Rimadesio UK Ltd

Company Information

Directors

Dr Clifford J Frank

Mr Giulio Malberti

Mr Luigi Malberti (Resigned 16/11/2025)

Auditors

Anthony Croft Ezekiel Ltd

343 City Road

London

EC1V 1LR

Bankers

Barclays Bank PLC

Registered office

85 Wigmore Street

London

W1U 1DL

Registered number

11677998

Rimadesio UK Ltd
Registered number:		11677998
Directors' Report

The directors present their report and accounts for the year ended 31 December 2025.

Principal activities
The company's principal activity during the year continued to be that of Retailing of furniture and doors.
Business Review and Future Development
The company experienced significant growth during the year, with turnover increasing to £2,692,867 from £2,204,829 in the previous year, representing an increase of approximately 22%.Gross profit increased from £882,111 to £1,370,189, with the gross profit margin improving from approximately 40.0% to 50.9%. Operating profit for the year increased to £375,057 compared with £195,316 in 2024. After taking account of net interest income, profit before taxation was £404,050 compared with £195,139 in the previous year. Profit after taxation amounted to £287,119 compared with £130,436 in 2024.Administrative expenses increased during the year, reflecting, amongst other matters, provisions and charges recognised in relation to bad debts and warranty obligations. Notwithstanding these increases, the improvement in turnover and gross margin resulted in a substantial increase in profitability for the year.The company's financial position remained strong at the year end. Net assets increased from £1,327,082 at 31 December 2024 to £1,614,201 at 31 December 2025. The company held cash at bank and in hand of £1,215,389 at the year end and reported net current assets of £547,537.The directors consider the financial performance for the year to be satisfactory and continue to monitor trading conditions, operating costs and working capital requirements. The directors intend to continue developing the company's activities within its existing market and to maintain its focus on the supply and retailing of its product range. The directors continue to review the company's operational requirements, including its showroom facilities and longer-term property requirements, having regard to the future needs of the business.

Directors
The following persons served as directors during the year:

	Dr Clifford J Frank
	Mr Giulio Malberti
	Mr Luigi Malberti (Resigned 16/11/2025)

Political donations
The company did not make any donations during the year.

Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.


Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 20 August 2026 and signed on its behalf.





Dr Clifford J Frank
Director

Rimadesio UK Ltd
Statement of Directors' Responsibilities

The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.

Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Rimadesio UK Ltd
Independent auditor's report
to the members of Rimadesio UK Ltd

Opinion

We have audited the accounts of Rimadesio UK Ltd (the 'company') for the year ended 31 December 2025 which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion, except for the possible effects of the specific matters described in the Basis for Qualified Opinion section of our report, the financial statements:
●	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for Qualified Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. The company's tangible fixed assets include fixtures and fittings and leasehold property costs with carrying amounts at £950,406. The directors depreciate/amortise these assets over estimated useful economic lives of 50 years. In our opinion, the useful economic lives adopted by the directors do not appropriately reflect the periods over which the economic benefits embodied in these assets are expected to be consumed by the company. Consequently, depreciation and amortisation for the year is understated by £645,792 and tangible fixed assets and profit before taxation and shareholders' funds are overstated by the same amount. Included within inventories at 31st December 2025 is inventory stated at £56,886. We were unable to obtain sufficient appropriate audit evidence concerning the existence and condition of this inventory as we did not observe the counting of physical inventories and we were unable to satisfy ourselves by alternative audit procedures.Consequently, we were unable to determine whether any adjustment to inventories of £50,000 and the related amounts included in cost of sales, profit before taxation and shareholders' funds was necessary. The financial statements for the year ended 31st December 2024 were not audited and consequently we were unable to obtain sufficient appropriate audit evidence concerning certain opening balances as at 1st January 2025.We were unable to satisfy ourselves as to these balances by alternative audit procedures. Since opening balances enter into the determination of the financial performance and cash flows for the current year, we were unable to determine whether adjustments might have been necessary in respect of the reported profit for the year and the related amounts presented in the financial statements.

Conclusions relating to going concern
In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the directors’ report for the financial year for which the accounts are prepared is consistent with the accounts; and
●	the directors’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the accounts are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit; or
●	the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
A further description of our responsibilities for the audit of the accounts is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.



Mr Anthony M Letchumanan
(Senior Statutory Auditor)		343 City Road
for and on behalf of
Anthony Croft Ezekiel Ltd
Statutory Auditor		London
21 August 2026		EC1V 1LR

Rimadesio UK Ltd
Profit and Loss Account
for the year ended 31 December 2025


	2025		2024
£		£

Turnover	2,692,867		2,204,829

Cost of sales	(1,322,678)		(1,322,718)

Gross profit	1,370,189		882,111

Administrative expenses	(995,130)		(686,795)

Operating profit	375,059		195,316

Interest receivable	28,991		-
Interest payable	-		(177)

Profit before taxation	404,050		195,139

Tax on profit	(116,931)		(64,703)

Profit for the financial year	287,119		130,436

Rimadesio UK Ltd
Statement of comprehensive income
for the year ended 31 December 2025


	2025		2024
£		£

Profit for the financial year	287,119		130,436

Other comprehensive income

Total comprehensive income for the year	287,119		130,436

Rimadesio UK Ltd
Registered number:		11677998
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	4		41,173			41,173
Tangible assets	5		1,025,491			1,089,163
			1,066,664			1,130,336

Current assets
Stocks		56,886			33,930
Debtors	6	306,026			417,554
Cash at bank and in hand		1,215,389			1,116,204
		1,578,301			1,567,688

Creditors: amounts falling due within one year	7	(1,030,764)			(672,561)

Net current assets			547,537			895,127

Total assets less current liabilities			1,614,201			2,025,463

Creditors: amounts falling due after more than one year	8		-			(698,381)



Net assets			1,614,201			1,327,082

Capital and reserves
Called up share capital			955,866			955,866
Profit and loss account			658,335			371,216

Shareholders' funds			1,614,201			1,327,082

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Dr Clifford J Frank
Director
Approved by the board on 20 August 2026

Rimadesio UK Ltd
Statement of Changes in Equity
for the year ended 31 December 2025

Share		Share		Re-		Profit		Total
capital		premium		valuation		and loss
reserve						account
£		£		£		£		£

At 1 January 2024	955,866		-		-		240,780		1,196,646

Profit for the financial year							130,436		130,436


At 31 December 2024	955,866		-		-		371,216		1,327,082



At 1 January 2025	955,866		-		-		371,216		1,327,082

Profit for the financial year							287,119		287,119


At 31 December 2025	955,866		-		-		658,335		1,614,201

Rimadesio UK Ltd
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. The company obtains a deposit on order. This is recognised as income at the point of receipt. The balance is only collected by the issue of a separate final invoice, prior to delivery, when ownership passes. This second income is recognised in the period that the transaction is completed and ownership legally passes over.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings		over 50 years
	Leasehold land and buildings		over the lease term
	Plant and machinery		over 5 years
	Fixtures, fittings, tools and equipment		over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Audit information



	Senior statutory auditor:	Mr Anthony M Letchumanan
	Firm:	Anthony Croft Ezekiel Ltd
	Date of audit report:	21 August 2026


3	Employees				2025		2024
Number						Number

	Average number of persons employed by the company				4		6


4	Intangible fixed assets						£
	Acquired Goodwill:

	Cost
	At 1 January 2025						41,173
	At 31 December 2025						41,173

	Amortisation
	At 31 December 2025						-

	Net book value
	At 31 December 2025						41,173
	At 31 December 2024						41,173




5	Tangible fixed assets
			Land and buildings		Plant and machinery etc		Total
£				£		£
	Cost
	At 1 January 2025		1,142,301		203,018		1,345,319
	At 31 December 2025		1,142,301		203,018		1,345,319

	Depreciation
	At 1 January 2025		168,826		87,330		256,156
	Charge for the year		23,069		40,603		63,672
	At 31 December 2025		191,895		127,933		319,828

	Net book value
	At 31 December 2025		950,406		75,085		1,025,491
	At 31 December 2024		973,475		115,688		1,089,163


6	Debtors				2025		2024
£						£

	Trade debtors				-		128,795
	Amounts owed by group undertakings and undertakings in which the company has a participating interest				-		4,819
	Other debtors				306,026		283,940
					306,026		417,554


7	Creditors: amounts falling due within one year				2025		2024
£						£

	Trade creditors				135,278		51,558
	Taxation and social security costs				219,285		112,974
	Other creditors				676,201		508,029
					1,030,764		672,561


8	Creditors: amounts falling due after one year				2025		2024
£						£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest				-		569,473
	Other creditors				-		128,908
					-		698,381


9	Warranty Provision

	A warranty obligation for the repair or replacement of defective goods within a defined period following the sale. A provision of £105,930 has been made for the year ended 31 December 2025. This represents the aggregate turnover for the 3 years ending 31 December 2025 at a provision rate of 1.5%. This is the standard policy that has been applied by the directors in the business over the previous years.
10	Controlling party

	The company is controlled by the shareholders Rimadesio SPA (96 via A.Furlanelli, giussano, Mb, 20833, Italy) and Rimadesio UK Trading S.r.L ( 96 via A.Furlanelli, giussano, Mb, 20833, Italy)


11	Other information

	Rimadesio UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	85 Wigmore Street
	London
	W1U 1DL