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REGISTERED NUMBER: 04809181 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GESSI (UK) LIMITED

GESSI (UK) LIMITED (REGISTERED NUMBER: 04809181)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GESSI (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: G L Gessi





REGISTERED OFFICE: 38 Craven Street
London
WC2N 5NG





REGISTERED NUMBER: 04809181 (England and Wales)





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

GESSI (UK) LIMITED (REGISTERED NUMBER: 04809181)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 130,153 350,386

CURRENT ASSETS
Debtors 6 928,461 879,223
Cash at bank 595,107 273,126
1,523,568 1,152,349
CREDITORS
Amounts falling due within one year 7 (1,100,871 ) (872,189 )
NET CURRENT ASSETS 422,697 280,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,850

630,546

CREDITORS
Amounts falling due after more than one
year

8

-

(75,390

)
NET ASSETS 552,850 555,156

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 552,849 555,155
SHAREHOLDERS' FUNDS 552,850 555,156

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 director and authorised for issue on 19 June 2025 and were signed by:





G L Gessi - Director


GESSI (UK) LIMITED (REGISTERED NUMBER: 04809181)

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


1. STATUTORY INFORMATION

Gessi (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.

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 financial statements have been prepared on the going concern basis.

Turnover
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of activities. Sales commissions from the parent company are recognised based on cost contribution agreement.
Revenues from licensing agreements are not recognised until performance under the contract has occured and reflect the provision of the service.

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

Land and Buildings 20% on cost
Plant and Machinary 20% on cost

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.

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.

GESSI (UK) LIMITED (REGISTERED NUMBER: 04809181)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.
Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are
settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables.
These are initially recognised at transaction price.

Trade payables 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled, or expires.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

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

6,000

6,000

GESSI (UK) LIMITED (REGISTERED NUMBER: 04809181)

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


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 1,087,106 40,052 1,127,158
Additions - 1,058 1,058
At 31 December 2024 1,087,106 41,110 1,128,216
DEPRECIATION
At 1 January 2024 746,544 30,228 776,772
Charge for year 213,069 8,222 221,291
At 31 December 2024 959,613 38,450 998,063
NET BOOK VALUE
At 31 December 2024 127,493 2,660 130,153
At 31 December 2023 340,562 9,824 350,386

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 594,809 473,650
Other debtors 152,716 224,637
747,525 698,287

Amounts falling due after more than one year:
Other debtors 180,936 180,936

Aggregate amounts 928,461 879,223

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 26,618 6,286
Amounts owed to group undertakings 857,087 614,985
Taxation and social security 110,653 122,163
Other creditors 106,513 128,755
1,100,871 872,189

GESSI (UK) LIMITED (REGISTERED NUMBER: 04809181)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 75,390

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 317,180 314,013
Between one and five years 1,015,845 1,268,720
In more than five years - 64,305
1,333,025 1,647,038

10. 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

11. CHARGES

Intesa San Paolo have registered a fixed charge over the company, deposit account for the credit card facilities offered.

12. RELATED PARTY DISCLOSURES

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 subsidiaries within the group.

Gessi (UK) Limited is included within the consolidated group accounts of Gessi S.p.A. which are available from 13037 Seravalle Sesia (Vercelli), Italy.

13. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Gessi S.p.A. a company incorporated in Italy.