Registration number: 09737381

Officine Gullo Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Officine Gullo Limited

(Registration number: 09737381)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	251,610	302,497
Current assets
Stocks		370,475	343,578
Debtors	5	338,869	622,810
Cash at bank and in hand		1,845,123	1,002,971
		2,554,467	1,969,359
Creditors: Amounts falling due within one year	6	(1,707,040)	(1,752,333)
Net current assets		847,427	217,026
Net assets		1,099,037	519,523
Capital and reserves
Called up share capital	7	1	1
Retained earnings		1,099,036	519,522
Shareholders' funds		1,099,037	519,523

For the financial year ending 31 December 2025 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 and 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 30 June 2026 and signed on its behalf by:
 

......................................... Mr F Tenderini Director

Officine Gullo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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:
Ground floor and basement
62/64 Fulham road
London
SW3 6HH
United Kingdom

These financial statements were authorised for issue by the Board on 30 June 2026.

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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Officine Gullo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

The current income tax charge is calculated 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	3 Years Straight line
Fixtures and Fittings	5 Years Straight line
Long leasehold	Straight line over the duration of the lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Officine Gullo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 4).

4	Tangible assets

	Long leasehold land and buildings £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	369,205	25,105	394,310
Additions	-	2,891	2,891
At 31 December 2025	369,205	27,996	397,201
Depreciation
At 1 January 2025	77,778	14,035	91,813
Charge for the year	46,276	7,502	53,778
At 31 December 2025	124,054	21,537	145,591
Carrying amount
At 31 December 2025	245,151	6,459	251,610
At 31 December 2024	291,427	11,070	302,497

Included within the net book value of land and buildings above is £245,152 (2024 - £291,427) in respect of long leasehold land and buildings and £Nil (2024 - £Nil) in respect of short leasehold land and buildings.
 

Officine Gullo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5

Debtors

Current	2025 £	2024 £
Trade debtors	(2,485)	861
Prepayments	257,354	537,949
Other debtors	84,000	84,000
	338,869	622,810

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		39,025	25,825
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	508,227	183,564
Taxation and social security		411,827	145,218
Accruals and deferred income		746,026	1,396,993
Other creditors		1,935	733
		1,707,040	1,752,333

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	1	1	1	1

8	Related party transactions

Summary of transactions with parent

Officine Gullo S.r.l.
During the year the company purchased stock from the parent company for a total amount of £ 1,191,353. It also made sales to the parent company for a total amount of £ 201,601 . At the year end the amount due to the parent company equals to £508,277 .