Registration number: 10984331

Mulino Investments Limited

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Unaudited Financial Statements	4 to 7

Mulino Investments Limited

Company Information

Directors

Mr P Mc Gowan Mr H W Foster Mr JR Turner

Company secretary

Miss I L Lockhart-Ross

Registered office

46/48 Beak Street London W1F 9RJ

Mulino Investments Limited

(Registration number: 10984331)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Current assets
Debtors	4	1,133,744	699,744
Cash at bank and in hand		434,431	868,431
		1,568,175	1,568,175
Creditors: Amounts falling due within one year	5	(1,076,962)	(1,076,962)
Net assets		491,213	491,213
Capital and reserves
Called up share capital	6	1	1
Capital contribution reserve		40,207	40,207
Retained earnings		451,005	451,005
Shareholders' funds		491,213	491,213

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

......................................... Mr P Mc Gowan Director

Mulino Investments Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

	Share capital £	Capital contribution reserve £	Retained earnings £	Total £
At 1 January 2024	1	40,207	451,005	491,213
At 31 December 2024	1	40,207	451,005	491,213

	Share capital £	Capital contribution reserve £	Retained earnings £	Total £
At 1 January 2023	1	40,207	263,493	303,701
Profit for the year	-	-	187,512	187,512
At 31 December 2023	1	40,207	451,005	491,213

Mulino Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
46/48 Beak Street
London
W1F 9RJ
United Kingdom

These financial statements were authorised for issue by the Board on 15 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method. Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Mulino Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is caluclated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income,

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Debtors

Short term debtors are recognised at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Mulino Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income statement.
 Impairment
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3). The directors received no remuneration during the year.

Mulino Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Debtors

	Note	2024 £	2023 £
Amounts owed by related parties		1,133,743	699,743
Called up share capital not paid		1	1
		1,133,744	699,744

Details of non-current trade and other debtors

£251,993 (2023 -£251,993) of other debtors is classified as non current.

5

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		800,000	800,000
Accruals and deferred income		276,963	276,963
Other creditors		(1)	(1)
		1,076,962	1,076,962

6	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary A of £0.00001 each	51,300	0.51	51,300	0.51
Ordinary B of £0.00001 each	48,700	0.49	48,700	0.49
	100,000	1	100,000	1