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REGISTERED NUMBER: 10816277 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GRUPPO MASTROTTO UK LIMITED

GRUPPO MASTROTTO UK LIMITED (REGISTERED NUMBER: 10816277)

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


GRUPPO MASTROTTO UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Graziano Mastrotto
T&W Directors Ltd





SECRETARY: Anastasia Secretariat Services Ltd





REGISTERED OFFICE: 38
Craven Street
London
WC2N 5NG





REGISTERED NUMBER: 10816277 (England and Wales)





AUDITORS: Belluzzo Audit Limited
Chartered Accountants and Statutory Auditors
38 Craven Street
London
WC2N 5NG

GRUPPO MASTROTTO UK LIMITED (REGISTERED NUMBER: 10816277)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,971 3,301
Investments 5 23 23
2,994 3,324

CURRENT ASSETS
Stocks 128,678 134,429
Debtors 6 72,442 125,594
Cash at bank 85,725 17,907
286,845 277,930
CREDITORS
Amounts falling due within one year 7 (388,589 ) (304,531 )
NET CURRENT LIABILITIES (101,744 ) (26,601 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(98,750

)

(23,277

)

CREDITORS
Amounts falling due after more than one
year

8

(50,000

)

(65,000

)
NET LIABILITIES (148,750 ) (88,277 )

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings (163,750 ) (103,277 )
(148,750 ) (88,277 )

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 24 February 2025 and were signed on its behalf by:





Graziano Mastrotto - Director


GRUPPO MASTROTTO UK LIMITED (REGISTERED NUMBER: 10816277)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Gruppo Mastrotto Uk Limited is a private company, limited by shares, registered in England and Wales. The registration number of the company is 10816277. Registered office is 38 Craven Street, London, United Kingdom, WC2N 5NG.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company has taken advantage of exemptions from the following disclosure requirements:
· Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and
disclosures;
· Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest
income/expense and net gains/losses for financial instruments not measured at fair value; basis of
determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair
value changes recognised in profit or loss and in other comprehensive income;
· Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss,
reconciliation of opening and closing number and weighted average exercise price of share options,
how the fair value of options granted was measured, measurement and carrying amount of liabilities
for cash-settled share-based payments, explanation of modifications to arrangements;
· Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

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 & Fittings - 10% reducing balance method

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.


GRUPPO MASTROTTO UK LIMITED (REGISTERED NUMBER: 10816277)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the
dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 3,668
DEPRECIATION
At 1 January 2023 367
Charge for year 330
At 31 December 2023 697
NET BOOK VALUE
At 31 December 2023 2,971
At 31 December 2022 3,301

GRUPPO MASTROTTO UK LIMITED (REGISTERED NUMBER: 10816277)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. FIXED ASSET INVESTMENTS
Investment
in
subsidiary
company
£   
COST
At 1 January 2023
and 31 December 2023 23
NET BOOK VALUE
At 31 December 2023 23
At 31 December 2022 23

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 40,760 101,468
Other debtors 31,682 24,126
72,442 125,594

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts - 39
Trade creditors 354,854 293,681
Taxation and social security 25,735 9,927
Other creditors 8,000 884
388,589 304,531

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Other creditors 50,000 65,000

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

The Report of the Auditors was unqualified.

Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited

10. PARENT COMPANY

The company is a wholly owned subsidiary of Gruppo Mastrotto SPA which is registered in Itlay.