REGISTERED NUMBER: 10816277 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GRUPPO MASTROTTO UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Graziano Mastrotto

T&W Directors 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

FIXED ASSETS

Tangible assets

4

7,119

2,971

Investments

5

860

23

7,979

2,994

CURRENT ASSETS

Stocks

180,460

128,678

Debtors

6

58,989

72,442

Cash at bank

91,551

85,725

331,000

286,845

CREDITORS

Amounts falling due within one year

7

(518,176

)

(388,589

)

NET CURRENT LIABILITIES

(187,176

)

(101,744

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(179,197

)

(98,750

)

CREDITORS

Amounts falling due after more than one year

8

(50,000

)

(50,000

)

PROVISIONS FOR LIABILITIES

9

(36,843

)

-

NET LIABILITIES

(266,040

)

(148,750

)

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Retained earnings

(281,040

)

(163,750

)

(266,040

)

(148,750

)

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 10 April 2025 and were signed on its behalf by:

Graziano Mastrotto - Director

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.

The financial statements of the company are consolidated in the financial statements of Gruppo Mastrotto Holding S.P.A. These consolidated financial statements are available from its registered office in Italy.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. Thus the

directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Computer Equipments - 33.33% straight line 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.

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 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

3,668

Additions

4,794

At 31 December 2024

8,462

DEPRECIATION

At 1 January 2024

697

Charge for year

646

At 31 December 2024

1,343

NET BOOK VALUE

At 31 December 2024

7,119

At 31 December 2023

2,971

5.	FIXED ASSET INVESTMENTS

2024

2023

£

£

Participating interests

23

23

Other investments not loans

837

-

860

23

Additional information is as follows:

Investment

in

subsidiary

company

£

COST

At 1 January 2024

and 31 December 2024

23

NET BOOK VALUE

At 31 December 2024

23

At 31 December 2023

23

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

£

Investments

837

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

46,306

40,760

Other debtors

12,683

31,682

58,989

72,442

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

476,249

354,854

Taxation and social security

26,327

25,735

Other creditors

15,600

8,000

518,176

388,589

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

50,000

50,000

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Other provisions

36,843

-

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.	PARENT COMPANY

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