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REGISTERED NUMBER: 09900430 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

MUCCIACCIA GALLERY LIMITED

MUCCIACCIA GALLERY LIMITED (REGISTERED NUMBER: 09900430)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MUCCIACCIA GALLERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTOR: Mr Massimiliano Mucciaccia





REGISTERED OFFICE: 71-75 Shelton Street
London
WC2H 9JQ





REGISTERED NUMBER: 09900430 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

MUCCIACCIA GALLERY LIMITED (REGISTERED NUMBER: 09900430)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,138 43,494

CURRENT ASSETS
Debtors 5 451,376 384,838
Cash at bank 70,528 344,573
521,904 729,411
CREDITORS
Amounts falling due within one year 6 1,482,488 1,705,958
NET CURRENT LIABILITIES (960,584 ) (976,547 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(928,446

)

(933,053

)

CREDITORS
Amounts falling due after more than one
year

7

36,214

41,667
NET LIABILITIES (964,660 ) (974,720 )

CAPITAL AND RESERVES
Called up share capital 999 999
Retained earnings (965,659 ) (975,719 )
(964,660 ) (974,720 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MUCCIACCIA GALLERY LIMITED (REGISTERED NUMBER: 09900430)

BALANCE SHEET - continued
31 DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2022 and were signed by:





Mr Massimiliano Mucciaccia - Director


MUCCIACCIA GALLERY LIMITED (REGISTERED NUMBER: 09900430)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Mucciaccia Gallery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Based on the length of the lease
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
company has net liabilities of £(964,660). The director is of the opinion that the shareholder of the company will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of financial statements.

Stock
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

MUCCIACCIA GALLERY LIMITED (REGISTERED NUMBER: 09900430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021
and 31 December 2021 50,181 14,229 2,264 66,674
DEPRECIATION
At 1 January 2021 6,687 14,229 2,264 23,180
Charge for year 11,356 - - 11,356
At 31 December 2021 18,043 14,229 2,264 34,536
NET BOOK VALUE
At 31 December 2021 32,138 - - 32,138
At 31 December 2020 43,494 - - 43,494

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 394,412 340,684
Other debtors 37,500 37,500
Prepayments and accrued income 19,464 6,654
451,376 384,838

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 8,333 8,333
Trade creditors 154,143 534,920
Social security and other taxes 353 4,933
VAT 7,964 176
Pension fund 153 868
Rent provision 91,257 50,818
Directors' current accounts 1,218,085 1,103,197
Accrued expenses 2,200 2,713
1,482,488 1,705,958

The above Directors' current accounts represents the Shareholders loan that is interest free, unsecured and repayable on demand.

MUCCIACCIA GALLERY LIMITED (REGISTERED NUMBER: 09900430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2021 2020
£    £   
Bank loans - 1-2 years 16,667 16,667
Bank loans - 2-5 years 19,547 25,000
36,214 41,667

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 43,843 60,814
Between one and five years 113,271 157,118
157,114 217,932

9. RELATED PARTY TRANSACTIONS

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 other than those disclosed in note 7 to financial statements