Masterpiece London Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06594594

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		2,993
Tangible Assets	5		875		-

			875		2,993
CURRENT ASSETS
Debtors	6	93,485		5,161
Cash at bank and in hand		14,973		114,394

		108,458		119,555
Creditors: Amounts Falling Due Within One Year	7	(93,004 )		(44,724 )

NET CURRENT ASSETS (LIABILITIES)			15,454		74,831

TOTAL ASSETS LESS CURRENT LIABILITIES			16,329		77,824

Creditors: Amounts Falling Due After More Than One Year	8		(935,000 )		(835,000 )

NET LIABILITIES			(918,671 )		(757,176 )

CAPITAL AND RESERVES
Called up share capital	9		18,750		18,750
Capital redemption reserve			7,565		7,565
Profit and Loss Account			(944,986 )		(783,491 )

SHAREHOLDERS' FUNDS			(918,671)		(757,176)

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Masterpiece London Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Ms Eleonara Gennari

Director

22/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Masterpiece London Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06594594 . The registered office is 13 Hurlingham Studios, Ranelagh Gardens, London, SW6 3PA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

As at 31 December 2024 the company had net liabilities of £918,671 (2023 £757,176). The loss for the year ended 31 December 2024 was £161,495 (2023: profit of £2,091,793).The Company’s primary purpose remains the creation of events within the art space, with a current strategic focus on utilising the Masterpiece brand IP to develop future events. In addition, the company employs strategy and communications experts who provide consultancy services to other businesses within the Group. The parent company has confirmed its ongoing support to Masterpiece London Ltd. Accordingly, the Directors are satisfied that it is appropriate to continue preparing these financial statements on the going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Trademarks. It is amortised to Profit and Loss Account over its estimated economic life of ten years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	- 20% straight line
Fixtures & Fittings	- 20% straight line

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 3)

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Masterpiece London Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	42,041

As at 31 December 2024	42,041

Amortisation
As at 1 January 2024	39,048
Provided during the period	2,993

As at 31 December 2024	42,041

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	2,993

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 January 2024	40,108
Additions	1,166

As at 31 December 2024	41,274

Depreciation
As at 1 January 2024	40,108
Provided during the period	291

As at 31 December 2024	40,399

Net Book Value
As at 31 December 2024	875

As at 1 January 2024	-

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	33,089	-
Prepayments and accrued income	48,630	4,273
Other debtors	9,599	-
VAT	2,167	888

	93,485	5,161

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Masterpiece London Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	85,556	44,589
Other taxes and social security	7,448	135

	93,004	44,724

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to group undertakings	935,000	835,000

The loan to group undertakings consisted of a loan of £935,000 from MCH Swiss Exhibition (Basel) Ltd (2023: £835,000).

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	18,750	18,750

10. Related Party Transactions

Masterpiece Asia Limited

During the year the company made purchases totalling £18,691 (2022: £9,128) for Masterpiece Asia Limited, the company's subsidiary.

MCH Swiss Exhibition (Basel) Ltd

During the year the company received £100,000 (2023: £835,000) capital loan from MCH Swiss Exhibition (Basel) Ltd the company's parent company.

During the year, loan interest of £34,313 (2023: £32,331) was charged by MCH Swiss Exhibition (Basel) Ltd. This is recorded within trade creditors. As at 31 December 2024 the company owed MCH Swiss Exhibition (Basel) Ltd £1,001,644 (2023: £867,331).

11. Controlling Party

The immediate parent undertaking is MCH Swiss Exhibition (Basel) Ltd, a company incorporated in Switzerland, which at the year end holds 100% of the shares of the company.

The ultimate parent undertaking is MCH Group AG. The smallest and largest group to prepare consolidated financial statements is MCH Swiss Exhibition (Basel) Ltd and MCH Group AG respectively. Copies of the MCH Swiss Exhibition (Basel) Ltd and MCH Group AG consolidated financial statements can be obtained from the Company Secretary at 1 Messeplatz, 4058 Basel, Switzerland.

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