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REGISTERED NUMBER: 09795567 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Golden Goose DB UK Limited

Golden Goose DB UK Limited (Registered number: 09795567)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Golden Goose DB UK Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr D Piarulli
Ms F Pisano
Mr D Pirlo





REGISTERED OFFICE: 17 Grosvenor Street, Mayfair
London
W1K 4QG





REGISTERED NUMBER: 09795567 (England and Wales)





AUDITORS: Nordens Audit Limited
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Golden Goose DB UK Limited (Registered number: 09795567)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 592,891 742,891
Tangible assets 5 475,485 542,819
1,068,376 1,285,710

CURRENT ASSETS
Stocks 1,307,620 1,132,932
Debtors 6 1,268,159 499,158
Cash at bank 1,924,222 876,014
4,500,001 2,508,104
CREDITORS
Amounts falling due within one year 7 5,265,400 3,490,253
NET CURRENT LIABILITIES (765,399 ) (982,149 )
TOTAL ASSETS LESS CURRENT LIABILITIES 302,977 303,561

PROVISIONS FOR LIABILITIES 26,949 26,949
NET ASSETS 276,028 276,612

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 872,900 872,900
Retained earnings (596,972 ) (596,388 )
276,028 276,612

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 Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





Mr D Piarulli - Director


Golden Goose DB UK Limited (Registered number: 09795567)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Golden Goose DB UK 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.

Intangible assets
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Lease premium - straight line over the lease term

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property - straight line over the lease term
Plant and machinery - straight line over three years
Fixtures and fittings - straight line over five years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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
The company is dependent upon the continued financial support of its parent company, Golden Goose S.p.A. Therefore, the going concern basis of the company is inherently linked to that of the Golden Goose S.p.A group.

Notwithstanding the conditions described above, at the date of approval of these financial statements the directors have a reasonable expectation that the group, and therefore the company, has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved.

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2021 - 16 ) .

Golden Goose DB UK Limited (Registered number: 09795567)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. INTANGIBLE FIXED ASSETS
Lease
premium
£   
COST
At 1 January 2022
and 31 December 2022 1,500,000
AMORTISATION
At 1 January 2022 757,109
Amortisation for year 150,000
At 31 December 2022 907,109
NET BOOK VALUE
At 31 December 2022 592,891
At 31 December 2021 742,891

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2022 644,820 52,054 672,576 1,369,450
Additions - 7,376 90,118 97,494
At 31 December 2022 644,820 59,430 762,694 1,466,944
DEPRECIATION
At 1 January 2022 309,873 47,661 469,097 826,631
Charge for year 68,339 2,043 94,446 164,828
At 31 December 2022 378,212 49,704 563,543 991,459
NET BOOK VALUE
At 31 December 2022 266,608 9,726 199,151 475,485
At 31 December 2021 334,947 4,393 203,479 542,819

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 5,765 3,615
Other debtors 1,162,645 328,196
Prepayments 99,749 167,347
1,268,159 499,158

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 1,757,333 728,233
Amounts owed to group undertakings 2,747,466 2,139,185
Other creditors 187,066 70,957
Accrued expenses 573,535 551,878
5,265,400 3,490,253

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 764,207 764,207
Between one and five years 2,806,620 3,570,827
3,570,827 4,335,034

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lorraine Curtis (Senior Statutory Auditor)
for and on behalf of Nordens Audit Limited

10. RELATED PARTY DISCLOSURES

As a wholly owned subsidiary the company is exempt under Section 1A of FRS 102 from the requirement to disclose transactions with its parent and other wholly owned subsidiaries of the Golden Goose S.p.A group.

11. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is CEP IV PARTICIPATIONS S.A.R.L. SICAR, a company incorporated in Luxembourg.