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Registered number: 03159789
The European Shoe Machinery Company Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Elsby & Company Limited
155 Wellingborough Road
Rushden
Northamptonshire
NN10 9TB
The European Shoe Machinery Company Limited
Contents
Contents

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

Page 1
The European Shoe Machinery Company Limited
Balance Sheet
As At 31 January 2025
Balance Sheet
Registered number: 03159789

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 1,834 |  | 1,956
Tangible Assets | 5 |  | 1,108,690 |  | 1,080,138
|  |  | 1,110,524 |  | 1,082,094
CURRENT ASSETS
Stocks | 6 | 308,443 |  | 322,453 |
Debtors | 7 | 174,858 |  | 282,283 |
Cash at bank and in hand |  | 799,080 |  | 832,327 |
|  | 1,282,381 |  | 1,437,063 |
Creditors: Amounts Falling Due Within One Year | 8 | (211,884 ) |  | (244,920 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 1,070,497 |  | 1,192,143
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 2,181,021 |  | 2,274,237
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (112,071 ) |  | (105,784 )
NET ASSETS |  |  | 2,068,950 |  | 2,168,453
CAPITAL AND RESERVES
Called up share capital | 9 |  | 1,020 |  | 1,020
Profit and Loss Account |  |  | 2,067,930 |  | 2,167,433
SHAREHOLDERS' FUNDS |  |  | 2,068,950 |  | 2,168,453

Page 1
Page 2
The European Shoe Machinery Company Limited
Balance Sheet (continued)
As At 31 January 2025
For the year ending 31 January 2025 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

R Petrozzi Director
7th April 2025

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
The European Shoe Machinery Company Limited
Notes to the Financial Statements
For The Year Ended 31 January 2025
Notes to the Financial Statements
1. General Information
The European Shoe Machinery Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03159789 . The registered office is 155 Wellingborough Road, Rushden, Northamptonshire, NN10 9TB.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
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.
Patents and licences are being amortised evenly over their estimated useful life of twenty years.
2.4. 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:

Freehold | Not depreciated
Leasehold | straight line over the life of the lease
Plant & Machinery | 20% reducing balance
Motor Vehicles | 25% reducing balance
Fixtures & Fittings | 25% reducing balance

2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
2.7. Taxation
The taxation expense represents the sum of the corporation tax currently payable and any deferred tax.
The corporation tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at 31 January 2025.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 9)
10 9
Page 3
Page 4
The European Shoe Machinery Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
4. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 February 2024 | 2,444
As at 31 January 2025 | 2,444
Amortisation
As at 1 February 2024 | 488
Provided during the period | 122
As at 31 January 2025 | 610
Net Book Value
As at 31 January 2025 | 1,834
As at 1 February 2024 | 1,956

5. Tangible Assets

| Land & Property
--- | ---
| Freehold | Leasehold | Plant & Machinery | Motor Vehicles
| £ | £ | £ | £
Cost
As at 1 February 2024 | 1,005,726 | 30,362 | 537,263 | 46,890
Additions | 19,000 | - | 6,811 | 14,905
As at 31 January 2025 | 1,024,726 | 30,362 | 544,074 | 61,795
Depreciation
As at 1 February 2024 | - | 30,362 | 476,690 | 33,051
Provided during the period | - | - | 13,556 | 7,187
As at 31 January 2025 | - | 30,362 | 490,246 | 40,238
Net Book Value
As at 31 January 2025 | 1,024,726 | - | 53,828 | 21,557
As at 1 February 2024 | 1,005,726 | - | 60,573 | 13,839

| Fixtures & Fittings | Total
--- | --- | ---
| £ | £
Cost
As at 1 February 2024 | - | 1,620,241
Additions | 11,439 | 52,155
As at 31 January 2025 | 11,439 | 1,672,396
Depreciation
As at 1 February 2024 | - | 540,103
Provided during the period | 2,860 | 23,603
As at 31 January 2025 | 2,860 | 563,706

...CONTINUED
Page 4
Page 5
The European Shoe Machinery Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025

Net Book Value
As at 31 January 2025 | 8,579 | 1,108,690
As at 1 February 2024 | - | 1,080,138

6. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Stock | 308,443 |  | 322,453

7. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 104,400 |  | 108,030
Prepayments and accrued income | 17,958 |  | 17,013
Other debtors | - |  | 5,069
Directors' loan accounts | 52,500 |  | 152,171
| 174,858 |  | 282,283

8. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 134,153 |  | 168,234
Corporation tax | 30,814 |  | 40,164
Other taxes and social security | 10,346 |  | 3,701
VAT | 30,841 |  | 20,195
Accruals and deferred income | 5,730 |  | 12,626
| 211,884 |  | 244,920

9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1,020 |  | 1,020

10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 February 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 January 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Roberto Petrozzi | 76,086 | 48,700 | 98,536 | - | 26,250
Mrs Cristina Piviero | 76,085 | 48,701 | 98,536 | - | 26,250

11. Ultimate Controlling Party
The company's ultimate controlling party is Morado Holdings Limited with 100% of the issued share capital in the company.
Page 5