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REGISTERED NUMBER: 03106295 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Paolo Moschino Limited

Paolo Moschino Limited (Registered number: 03106295)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paolo Moschino Limited

Company Information
for the Year Ended 31 January 2024







Directors: P Moschino
P Vergeylen





Secretary: P Moschino





Registered office: 10-14 Holbein Place
London
SW1W 8NL





Registered number: 03106295 (England and Wales)





Accountants: Benjamin Taylor Diner Limited
120 New Cavendish Street,
London
W1W 6XX

Paolo Moschino Limited (Registered number: 03106295)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
Fixed assets
Tangible assets 5 163,449 209,694
Investments 6 8,403 8,403
171,852 218,097

Current assets
Stocks 131,117 92,089
Debtors 7 323,951 346,426
Cash at bank 4,663,185 4,574,827
5,118,253 5,013,342
Creditors
Amounts falling due within one year 8 (1,135,209 ) (1,150,382 )
Net current assets 3,983,044 3,862,960
Total assets less current liabilities 4,154,896 4,081,057

Creditors
Amounts falling due after more than one
year

9

-

(13,565

)
Net assets 4,154,896 4,067,492

Capital and reserves
Called up share capital 11 100 100
Retained earnings 12 4,154,796 4,067,392
Shareholders' funds 4,154,896 4,067,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Paolo Moschino Limited (Registered number: 03106295)

Balance Sheet - continued
31 January 2024


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 October 2024 and were signed on its behalf by:




P Moschino - Director



P Vergeylen - Director


Paolo Moschino Limited (Registered number: 03106295)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. Statutory information

The Company is a private company limited by shares, incorporated in England and Wales. The registered office address is 10-14 Holbein Place, London, England, SW1W 8NL.

The principal activity of the company is that of retailers and wholesalers of interior designing goods and services.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Paolo Moschino Limited (Registered number: 03106295)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities.

Cash and cash equivalents

These comprise cash at bank and other short-term highly liquid bank deposits.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated
irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Trade creditors

Trade creditors are not interest bearing and are stated at their nominal value.

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.

Operating lease 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
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
After making enquiries the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Paolo Moschino Limited (Registered number: 03106295)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Government grants
The company accounts for government grants on an accruals basis. During the year the company recognised grant income receivable from the UK Government's Coronavirus Job Retention Scheme and from the Local Authority Discretionary Grant Fund in other operating income.

4. Employees and directors

The average number of employees during the year was 35 (2023 - 33 ) .

5. Tangible fixed assets
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 February 2023 209,968 111,860 109,033 37,770 468,631
Additions - - - 7,018 7,018
Disposals - - - (4,468 ) (4,468 )
At 31 January 2024 209,968 111,860 109,033 40,320 471,181
Depreciation
At 1 February 2023 80,488 111,859 47,403 19,187 258,937
Charge for year 20,997 - 21,804 10,462 53,263
Eliminated on disposal - - - (4,468 ) (4,468 )
At 31 January 2024 101,485 111,859 69,207 25,181 307,732
Net book value
At 31 January 2024 108,483 1 39,826 15,139 163,449
At 31 January 2023 129,480 1 61,630 18,583 209,694

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 February 2023
and 31 January 2024 8,403
Net book value
At 31 January 2024 8,403
At 31 January 2023 8,403

During 2023 the company opened a subsidiary (Paolo Moschino S.R.L) in Milan, Italy.

As at 31 January 2024, Paolo Moschino S.R.L had not traded.

Paolo Moschino Limited (Registered number: 03106295)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


7. Debtors: amounts falling due within one year
31.1.24 31.1.23
£    £   
Trade debtors 186,827 193,960
Other debtors 137,124 152,466
323,951 346,426

8. Creditors: amounts falling due within one year
31.1.24 31.1.23
£    £   
Hire purchase contracts (see note 10) 13,563 45,203
Trade creditors 972,726 897,985
Taxation and social security 119,173 184,422
Other creditors 29,747 22,772
1,135,209 1,150,382

9. Creditors: amounts falling due after more than one year
31.1.24 31.1.23
£    £   
Hire purchase contracts (see note 10) - 13,565

10. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 13,563 45,203
Between one and five years - 13,565
13,563 58,768

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 234,600 234,600
Between one and five years 430,162 584,546
In more than five years - 80,217
664,762 899,363

Paolo Moschino Limited (Registered number: 03106295)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 Shares 100 100 100

Called-up share capital represents the nominal value of shares that have been issued.

12. Reserves
Retained
earnings
£   

At 1 February 2023 4,067,392
Profit for the year 87,404
At 31 January 2024 4,154,796

The retained earnings reserve records retained earnings and accumulated losses.

13. Ultimate controlling party

The company was under the control of the directors who own the entire issued share capital of the company.