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REGISTERED NUMBER: 04980905 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Gianni's (UK) Limited

Gianni's (UK) Limited (Registered number: 04980905)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gianni's (UK) Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr G Bisi
Mr A Bisi





REGISTERED OFFICE: 13 Victoria Road
SCARBOROUGH
North Yorkshire
YO11 1SB





REGISTERED NUMBER: 04980905 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Gianni's (UK) Limited (Registered number: 04980905)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 336,753 351,325
336,753 351,325

CURRENT ASSETS
Stocks 12,600 11,200
Debtors 6 27,668 5,718
Cash at bank and in hand 55,340 124,177
95,608 141,095
CREDITORS
Amounts falling due within one year 7 89,156 122,787
NET CURRENT ASSETS 6,452 18,308
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,205

369,633

CREDITORS
Amounts falling due after more than one
year

8

(42,690

)

(71,460

)

PROVISIONS FOR LIABILITIES (17,082 ) (19,580 )
NET ASSETS 283,433 278,593

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 283,333 278,493
SHAREHOLDERS' FUNDS 283,433 278,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Gianni's (UK) Limited (Registered number: 04980905)

Balance Sheet - continued
30 November 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 20 May 2025 and were signed on its behalf by:





Mr G Bisi - Director


Gianni's (UK) Limited (Registered number: 04980905)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Gianni's (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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to leasehold property - 10% on cost
Integral features - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Gianni's (UK) Limited (Registered number: 04980905)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 60,000
AMORTISATION
At 1 December 2023
and 30 November 2024 60,000
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

Gianni's (UK) Limited (Registered number: 04980905)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Improvements
to
Freehold leasehold Integral
property property features
£    £    £   
COST
At 1 December 2023 245,000 50,292 21,697
Additions - - -
Disposals - - -
At 30 November 2024 245,000 50,292 21,697
DEPRECIATION
At 1 December 2023 - 47,020 21,060
Charge for year - 1,422 433
Eliminated on disposal - - -
At 30 November 2024 - 48,442 21,493
NET BOOK VALUE
At 30 November 2024 245,000 1,850 204
At 30 November 2023 245,000 3,272 637

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 180,401 119,124 15,509 632,023
Additions 11,602 - 1,474 13,076
Disposals - (15,115 ) - (15,115 )
At 30 November 2024 192,003 104,009 16,983 629,984
DEPRECIATION
At 1 December 2023 134,827 63,007 14,784 280,698
Charge for year 8,616 13,357 1,131 24,959
Eliminated on disposal - (12,426 ) - (12,426 )
At 30 November 2024 143,443 63,938 15,915 293,231
NET BOOK VALUE
At 30 November 2024 48,560 40,071 1,068 336,753
At 30 November 2023 45,574 56,117 725 351,325

Gianni's (UK) Limited (Registered number: 04980905)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2023
and 30 November 2024 104,009
DEPRECIATION
At 1 December 2023 50,581
Charge for year 13,357
At 30 November 2024 63,938
NET BOOK VALUE
At 30 November 2024 40,071
At 30 November 2023 53,428

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other debtors 27,668 5,718

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 10,000 10,500
Hire purchase contracts 19,270 17,478
Trade creditors 13,462 21,036
Taxation and social security 36,054 33,475
Other creditors 10,370 40,298
89,156 122,787

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 5,000 14,500
Hire purchase contracts 37,690 56,960
42,690 71,460

Gianni's (UK) Limited (Registered number: 04980905)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
Mr G Bisi
Balance outstanding at start of year - -
Amounts advanced 8,436 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,436 -

The above loans are unsecured, interest free and repayable on demand

10. ULTIMATE CONTROLLING PARTY

The company is under the common control of the shareholders.