ACCOUNTS - Final Accounts preparation

Registered number: 16161104

FLORENCE 11 LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2026

FLORENCE 11 LTD

REGISTERED NUMBER: 16161104

BALANCE SHEET

AS AT 31 JANUARY 2026

		2026
Note		£

Fixed assets
Tangible assets	4		66,762
			66,762
Current assets
Stocks		18,910
Debtors: amounts falling due within one year	5	80,887
		99,797
Creditors: amounts falling due within one year	6	(604,840)
Net current (liabilities)/assets			(505,043)
Total assets less current liabilities			(438,281)

Net (liabilities)/assets			(438,281)

Capital and reserves
Share capital			100
Profit and loss account			(438,381)
			(438,281)

The director considers 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 director acknowledges his 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 comprehensive income 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:

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FLORENCE 11 LTD

REGISTERED NUMBER: 16161104

BALANCE SHEET (CONTINUED)

AS AT 31 JANUARY 2026

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

Francesco Amati

Director

Date: 26 October 2026

The notes on pages 3 to 7 form part of these financial statements.

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FLORENCE 11 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2026

1.	General information

Florence 11 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 16161104. The registered office is The Courtyard, 14a Sydenham Road, Croydon, London, England, CR0 2EE.

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

Going concern

The financial statements have been prepared on a going concern basis. As at the reporting date, the Company had net liabilities of £438,281 and net current liabilities of £505,043. The Company does not maintain a bank account in its own name and is dependent on funding from Ebar/Reinvest, to which £379,979 was owed at the reporting date.

The directors have also considered the ongoing VAT dispute and the outstanding tronc liabilities. These matters, together with the Company’s net liability position and dependence on group funding, indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.

The directors have assessed the Company’s ability to continue as a going concern, including the availability of continued financial support from Reinvest Holding Group, and consider the going concern basis of preparation to be appropriate. The financial statements do not include any adjustments that would be required if the Company were unable to continue as a going concern.

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FLORENCE 11 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2026

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:

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.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.5

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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FLORENCE 11 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2026

2.Accounting policies (continued)

2.5

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	-	10%
Kitchen Equipment	-	15%
Fixtures and Fixtures	-	10%
Computer Equipment	-	25%

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.

2.6

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.

2.7

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.

2.8

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.

Employees

The average monthly number of employees, including directors, during the period was 1.

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FLORENCE 11 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2026

4.	Tangible fixed assets

	Leasehold Improvement	Kitchen Equipment	Fixtures and Fixtures	Computer Equipment	Total
	£	£	£	£	£
Cost or valuation
Additions	26,349	25,932	10,057	13,931	76,269
At 31 January 2026	26,349	25,932	10,057	13,931	76,269
Depreciation
Charge for the period on owned assets	1,766	3,723	876	3,142	9,507
At 31 January 2026	1,766	3,723	876	3,142	9,507
Net book value
At 31 January 2026	24,583	22,209	9,181	10,789	66,762

Debtors

					2026
					£


	Trade debtors	14,031
	Other debtors	51,819
	Prepayments and accrued income	15,037
		80,887

6.	Creditors: Amounts falling due within one year
		2026
		£

	Trade creditors	44,550
	Amounts owed to group undertakings	379,979
	Other creditors	117,520
	Accruals and deferred income	62,791
		604,840

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FLORENCE 11 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2026

7.	Related party transactions
	At 31 January 2026, the Company owed £380,979 to related group companies: E Bar Sports UK Ltd (£342,119), 186 KPR Ltd (£1,746), Osteria Londra Ltd (£34,850) and Santo Mare Trading Ltd (£1,265).

8.	Controlling party

FLORENCE 11 LTD (Company No. 16161104) is controlled by REINVEST HOLDINGS LTD (Company No. 12916514), registered at 2 Kenrick Place, London, England, W1U 6HB. It holds 75% or more of the shares and voting rights.

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