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REGISTERED NUMBER: 11152948 (England and Wales)















MASCHIO GASPARDO UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






MASCHIO GASPARDO UK LIMITED (REGISTERED NUMBER: 11152948)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 7


MASCHIO GASPARDO UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M Maschio
M Schietequatte
N Lissandron



REGISTERED OFFICE: Unit 4 Swinderby Industrial Park
Electric Avenue
Lincoln
LN6 9BJ



REGISTERED NUMBER: 11152948 (England and Wales)



SENIOR STATUTORY AUDITOR: Pierpaolo Spadoni



AUDITORS: A.C.T Audit Limted
Chartered Certified Accountants
& Statutory Auditors
27 Hill Street, Mayfair
London
W1J 5LP

MASCHIO GASPARDO UK LIMITED (REGISTERED NUMBER: 11152948)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 768,474 879,626
Property, plant and equipment 6 147,903 178,882
Investments 7 - 1
916,377 1,058,509

CURRENT ASSETS
Inventories 2,110,873 1,643,632
Debtors 8 585,254 387,849
Cash at bank 1,213,270 757,904
3,909,397 2,789,385
CREDITORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR

9

817,824

367,919
NET CURRENT ASSETS 3,091,573 2,421,466
TOTAL ASSETS LESS CURRENT LIABILITIES 4,007,950 3,479,975

CREDITORS: AMOUNTS FALLING DUE AFTER
MORE THAN ONE YEAR

10

4,250,000

3,500,000
NET LIABILITIES (242,050 ) (20,025 )

CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Retained earnings (252,050 ) (30,025 )
SHAREHOLDERS' FUNDS (242,050 ) (20,025 )

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 28 February 2025 and were signed on its behalf by:





N Lissandron - Director


MASCHIO GASPARDO UK LIMITED (REGISTERED NUMBER: 11152948)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Maschio Gaspardo 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned members within the group.

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

Revenue comprises the provision of services and goods. Revenue is recognised when the significant risks and rewards have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and that the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Goodwill, being the amount paid in connection with the acquisition of a business in November 2023, is being amortised evenly over its estimated useful life of five years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance, 20% on reducing balance, 15% on reducing balance.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

MASCHIO GASPARDO UK LIMITED (REGISTERED NUMBER: 11152948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt FRS 102 Section 1a in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

MASCHIO GASPARDO UK LIMITED (REGISTERED NUMBER: 11152948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Judgements in applying accounting policies
The key judgement and estimate relates to the deferred consideration on the purchase of the subsidiary. This estimate was calculated using available information at the period end and established accounting principles to correctly reflect the anticipated amount due at that time. Actual amounts may differ but, if this is the case, this will be because of factors which are not, and cannot be, known by the management at this time.

The preparation of the financial statements required management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future performance that are believed to be reasonable under the circumstances.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 5 ) .

4. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's financial
statements

10,000

8,000

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024 902,681 - 902,681
Additions - 70,560 70,560
At 31 December 2024 902,681 70,560 973,241
AMORTISATION
At 1 January 2024 23,055 - 23,055
Charge for year 180,536 1,176 181,712
At 31 December 2024 203,591 1,176 204,767
NET BOOK VALUE
At 31 December 2024 699,090 69,384 768,474
At 31 December 2023 879,626 - 879,626

MASCHIO GASPARDO UK LIMITED (REGISTERED NUMBER: 11152948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2024 184,671
Additions 51,725
Disposals (58,488 )
At 31 December 2024 177,908
DEPRECIATION
At 1 January 2024 5,789
Charge for year 34,429
Eliminated on disposal (10,213 )
At 31 December 2024 30,005
NET BOOK VALUE
At 31 December 2024 147,903
At 31 December 2023 178,882

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024 1
Disposals (1 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 1

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 414,632 8,880
Other debtors 170,622 378,969
585,254 387,849

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

MASCHIO GASPARDO UK LIMITED (REGISTERED NUMBER: 11152948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 114,467 93,032
Taxation and social security 119,715 44,627
Other creditors 583,642 230,260
817,824 367,919

Short-term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 4,250,000 3,500,000

The balance represents a loan between the company and Maschio Gaspardo S.p.A repayable by 31 December 2026 which bares interest at the rate of 6% per annum.

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 49,722 -
Between one and five years 49,722 -
In more than five years 3,107 -
102,551 -

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

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

The Report of the Auditors was unqualified.

Pierpaolo Spadoni (Senior Statutory Auditor)
for and on behalf of A.C.T Audit Limted

14. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is Maschio Gaspardo SPA, a company incorporated in Italy, with registered office Via Marcello 73, Campodarsego, Italy, 35011.