REGISTERED NUMBER: 09471821 (England and Wales)

Girardo & Co Limited

Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M F Girardo

P Marion

REGISTERED OFFICE:

Belchers Farm

Ascott

OX44 7UH

REGISTERED NUMBER:

09471821 (England and Wales)

FIXED ASSETS

Intangible assets

4

97,706

115,195

Tangible assets

5

5,119,648

5,190,569

5,217,354

5,305,764

CURRENT ASSETS

Stocks

1,854,441

899,247

Debtors

6

4,112,593

2,646,939

Investments

7

-

950,000

Cash at bank

1,178,698

118,949

7,145,732

4,615,135

CREDITORS

Amounts falling due within one year

8

4,372,452

1,841,396

NET CURRENT ASSETS

2,773,280

2,773,739

TOTAL ASSETS LESS CURRENT LIABILITIES

7,990,634

8,079,503

CREDITORS

Amounts falling due after more than one year

9

-

1,183,287

NET ASSETS

7,990,634

6,896,216

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

283,771

283,771

Retained earnings

7,705,863

6,611,445

SHAREHOLDERS' FUNDS

7,990,634

6,896,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

M F Girardo - Director

1.	STATUTORY INFORMATION

Girardo & Co 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 comprises the sale of goods to third parties and is recognised on signature of a binding contract for the sale. Turnover excludes VAT and equivalent taxes, duty and other disbursements made on behalf of customers.

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

All intangibles are measures at cost less any accumulated amortisation and any accumulated impairment losses.

The estimated useful lives range as follows:

Photo archive - 10 years

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

- Freehold property - 50 years

- Motor vehicles - 5 years

- Fixtures and fittings - 3 years

- Office equipment - 3 years

- Computer equipment - 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Assets under construction are held separately and no depreciation is charged until the assets are in use. Once the asset is in use, it will be transferred to the appropriate category and depreciation will be charged on an appropriate basis.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company does not trade in financial instruments and all such instruments arise directly from operations.

All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.

The company's cash holdings comprise on demand balances and is held with banks with strong external credit ratings.

Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income and Retained Earnings, 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

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

174,894

AMORTISATION

At 1 April 2024

59,699

Charge for year

17,489

At 31 March 2025

77,188

NET BOOK VALUE

At 31 March 2025

97,706

At 31 March 2024

115,195

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

5,201,451

454,865

5,656,316

Additions

46,038

88,433

134,471

Disposals

-

(1,062

)

(1,062

)

At 31 March 2025

5,247,489

542,236

5,789,725

DEPRECIATION

At 1 April 2024

246,697

219,050

465,747

Charge for year

104,650

99,680

204,330

At 31 March 2025

351,347

318,730

670,077

NET BOOK VALUE

At 31 March 2025

4,896,142

223,506

5,119,648

At 31 March 2024

4,954,754

235,815

5,190,569

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

3,349,810

397,308

Amounts owed by participating interests

185,206

1,682,256

Other debtors

577,577

567,375

4,112,593

2,646,939

7.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

£

Short term call deposit

-

950,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

111,949

Trade creditors

3,327,898

1,299,269

Taxation and social security

561,056

411,726

Other creditors

483,498

18,452

4,372,452

1,841,396

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

-

1,183,287

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yrs by insta

lments

-

735,492

-

735,492

10.	RELATED PARTY DISCLOSURES

During the year the Company recharged £841,791 (2024: £754,364) in respect of operating expenses incurred on behalf of, and purchased stock on behalf of (and vice versa) Girardo & Co Private Sales Limited, a related party by virtue of common control. The amount outstanding at the year end in respect of this was £146,626 (2024: £1,573,042).

During the year the Company there was net movement of £nil (2024 - nil) between Girardo & Co Italia, a related party by virtue of common control. An amount remained outstanding from Girardo & Co Italia at the year end of £38,580 (2024 - £38,580).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is M F Girardo.