Mucciaccia Gallery Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09900430 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MUCCIACCIA GALLERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Massimiliano Mucciaccia

REGISTERED OFFICE:

71-75 Shelton Street

London

WC2H 9JQ

REGISTERED NUMBER:

09900430 (England and Wales)

ACCOUNTANTS:

SRG Newmans Limited

Five Ways

57-59 Hatfield Road

Potters Bar

Hertfordshire

EN6 1HS

FIXED ASSETS

Tangible assets

4

-

9,428

CURRENT ASSETS

Stocks

5

233,816

318,566

Debtors

6

794,809

363,144

Cash at bank

3,215

32,828

1,031,840

714,538

CREDITORS

Amounts falling due within one year

7

1,836,174

1,733,606

NET CURRENT LIABILITIES

(804,334

)

(1,019,068

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(804,334

)

(1,009,640

)

CREDITORS

Amounts falling due after more than one
year

8

8,168

17,517

NET LIABILITIES

(812,502

)

(1,027,157

)

CAPITAL AND RESERVES

Called up share capital

999

Retained earnings

(813,501

)

(1,028,156

)

SHAREHOLDERS' FUNDS

(812,502

)

(1,027,157

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 15 September 2025 and were signed by:

Mr Massimiliano Mucciaccia - Director

1.	STATUTORY INFORMATION

Mucciaccia Gallery 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.

Tangible fixed assets

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

Short leasehold

-

Based on the length of the lease

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% 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.

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.

Going concern

The company has net assets of £812,502 (2023 - £1,027,157 Net liabilities). The director is of the opinion that the shareholder of the company will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of financial statements.

Stock

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

COST

At 1 January 2024

and 31 December 2024

50,181

14,229

2,264

66,674

DEPRECIATION

At 1 January 2024

40,753

14,229

2,264

57,246

Charge for year

9,428

-

9,428

At 31 December 2024

50,181

14,229

2,264

66,674

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

9,428

-

9,428

5.

STOCKS

2024

2023

£

Stocks

233,816

318,566

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

727,739

303,250

Other debtors

37,500

VAT

8,316

2,008

Prepayments and accrued income

21,254

20,386

794,809

363,144

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

8,333

Trade creditors

262,547

115,474

Social security and other taxes

2,435

2,583

Pension fund

224

324

Rent provision

-

8,841

Directors' current accounts

1,560,435

1,595,851

Accrued expenses

2,200

1,836,174

1,733,606

The above Directors' current accounts represents the Shareholders loan that is interest free, unsecured and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2024

2023

£

Bank loans - 1-2 years

8,168

16,667

Bank loans - 2-5 years

-

850

8,168

17,517

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

-

35,322

10.	RELATED PARTY TRANSACTIONS

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 other than those disclosed in note 7 to financial statements