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REGISTERED NUMBER: 09106255 (England and Wales)















Audited Financial Statements for the Year Ended 31 December 2023

for

Stefano Ricci UK Limited

Stefano Ricci UK Limited (Registered number: 09106255)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Stefano Ricci UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Aprovitolo
P Francescon
N Ricci



REGISTERED OFFICE: 56 South Audley Street
Mayfair
London
W1K 2QH



REGISTERED NUMBER: 09106255 (England and Wales)



SENIOR STATUTORY AUDITOR: Lorraine Curtis



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

Stefano Ricci UK Limited (Registered number: 09106255)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,013,973 1,146,838
Tangible assets 5 909,828 1,140,768
1,923,801 2,287,606

CURRENT ASSETS
Stocks 6 5,270,405 2,940,270
Debtors 7 1,398,862 741,604
Cash at bank and in hand 1,155,064 2,631,735
7,824,331 6,313,609
CREDITORS
Amounts falling due within one year 8 5,919,827 4,956,462
NET CURRENT ASSETS 1,904,504 1,357,147
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,828,305

3,644,753

CREDITORS
Amounts falling due after more than one
year

9

5,679,137

5,643,891
NET LIABILITIES (1,850,832 ) (1,999,138 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (1,850,932 ) (1,999,238 )
SHAREHOLDERS' FUNDS (1,850,832 ) (1,999,138 )

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 18 September 2024 and were signed on its behalf by:





P Francescon - Director


Stefano Ricci UK Limited (Registered number: 09106255)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Stefano Ricci 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.

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.

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.

Stefano Ricci UK Limited (Registered number: 09106255)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Depreciation
Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that
asset as follows:

Long leasehold property - On straight line basis over the lease term
Plant and machinery - 15% straight line
Fixtures and fittings - 15% straight line
Equipment - 15% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 2,143,651
Additions 6,339
At 31 December 2023 2,149,990
AMORTISATION
At 1 January 2023 996,813
Charge for year 139,204
At 31 December 2023 1,136,017
NET BOOK VALUE
At 31 December 2023 1,013,973
At 31 December 2022 1,146,838

Stefano Ricci UK Limited (Registered number: 09106255)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,676,178 895,278 2,571,456
Additions 4,274 3,833 8,107
At 31 December 2023 1,680,452 899,111 2,579,563
DEPRECIATION
At 1 January 2023 658,499 772,189 1,430,688
Charge for year 151,052 87,995 239,047
At 31 December 2023 809,551 860,184 1,669,735
NET BOOK VALUE
At 31 December 2023 870,901 38,927 909,828
At 31 December 2022 1,017,679 123,089 1,140,768

6. STOCKS
2023 2022
£    £   
Stocks 7,168,327 4,438,527
Stock Provision (1,897,922 ) (1,498,257 )
5,270,405 2,940,270

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 480,994 309,991
Other debtors 879,090 424,095
Director's Loan Account 14,100 -
Deferred Tax 20,730 -
Prepayments 3,948 7,518
1,398,862 741,604

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,038,853 4,445,487
VAT 190,487 273,064
Other creditors 450,437 78,779
Deferred Tax liability - 18,292
Accrued expenses 240,050 140,840
5,919,827 4,956,462

Stefano Ricci UK Limited (Registered number: 09106255)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 5,679,137 5,643,891

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 January 2023 (1,999,238 )
Profit for the year 148,306
At 31 December 2023 (1,850,932 )

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

The Report of the Auditors was unqualified.

Lorraine Curtis (Senior Statutory Auditor)
Nordens Nordens Audit Limited

13. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Stefano Ricci S.p.A., a company incorporated in Italy.

The smallest and largest group of undertakings for which group accounts have been drawn up is that headed by Stefano Ricci S.p.A. and copies are available from Via Faentina 171 Loc. Caldine, Fiesole, 50010 Italy.