REGISTERED NUMBER: 03106295 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Paolo Moschino Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

P Moschino

P Vergeylen

Secretary:

P Moschino

Registered office:

10-14 Holbein Place

London

SW1W 8NL

Registered number:

03106295 (England and Wales)

Accountants:

Benjamin Taylor Diner Limited

120 New Cavendish Street,

London

W1W 6XX

Fixed assets

Tangible assets

5

116,025

163,449

Investments

6

8,403

8,403

124,428

171,852

Current assets

Stocks

175,478

131,117

Debtors

7

662,652

323,951

Cash at bank

4,161,903

4,663,185

5,000,033

5,118,253

Creditors

Amounts falling due within one year

8

(998,656

)

(1,135,209

)

Net current assets

4,001,377

3,983,044

Total assets less current liabilities

4,125,805

4,154,896

Capital and reserves

Called up share capital

10

100

100

Retained earnings

11

4,125,705

4,154,796

Shareholders' funds

4,125,805

4,154,896

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

P Moschino - Director

P Vergeylen - Director

1.	Statutory information

The Company is a private company limited by shares, incorporated in England and Wales. The registered office address is 10-14 Holbein Place, London, England, SW1W 8NL.

The principal activity of the company is that of retailers and wholesalers of interior designing goods and services.

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities.

Cash and cash equivalents

These comprise cash at bank and other short-term highly liquid bank deposits.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated

irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Trade creditors

Trade creditors are not interest bearing and are stated at their nominal value.

Taxation

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

Operating lease commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs

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.

Going concern

After making enquiries the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Government grants

The company accounts for government grants on an accruals basis. During the year the company recognised grant income receivable from the UK Government's Coronavirus Job Retention Scheme and from the Local Authority Discretionary Grant Fund in other operating income.

4.	Employees and directors

The average number of employees during the year was 34 (2024 - 35 ) .

5.	Tangible fixed assets

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 February 2024

209,968

111,860

109,033

40,320

471,181

Additions

-

-

-

6,783

6,783

Disposals

-

-

-

(9,203

)

(9,203

)

At 31 January 2025

209,968

111,860

109,033

37,900

468,761

Depreciation

At 1 February 2024

101,485

111,859

69,207

25,181

307,732

Charge for year

20,996

-

21,804

11,407

54,207

Eliminated on disposal

-

-

-

(9,203

)

(9,203

)

At 31 January 2025

122,481

111,859

91,011

27,385

352,736

Net book value

At 31 January 2025

87,487

1

18,022

10,515

116,025

At 31 January 2024

108,483

1

39,826

15,139

163,449

6.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 February 2024

and 31 January 2025

8,403

Net book value

At 31 January 2025

8,403

At 31 January 2024

8,403

During 2023 the company opened a subsidiary (Paolo Moschino S.R.L) in Milan, Italy.

As at 31 January 2025, Paolo Moschino S.R.L had not traded.

7.

Debtors: amounts falling due within one year

31.1.25

31.1.24

£

£

Trade debtors

240,606

186,827

Amounts owed by group undertakings

246,977

-

Other debtors

175,069

137,124

662,652

323,951

8.

Creditors: amounts falling due within one year

31.1.25

31.1.24

£

£

Hire purchase contracts (see note 9)

9,165

13,563

Trade creditors

917,191

972,726

Taxation and social security

42,967

119,173

Other creditors

29,333

29,747

998,656

1,135,209

9.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.1.25

31.1.24

£

£

Net obligations repayable:

Within one year

9,165

13,563

Non-cancellable

operating leases

31.1.25

31.1.24

£

£

Within one year

193,700

234,600

Between one and five years

290,400

430,162

484,100

664,762

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

£

£

100

Ordinary £1 Shares

100

100

100

Called-up share capital represents the nominal value of shares that have been issued.

11.

Reserves

Retained

earnings

£

At 1 February 2024

4,154,796

Deficit for the year

(29,091

)

At 31 January 2025

4,125,705

The retained earnings reserve records retained earnings and accumulated losses.

12.	Directors' advances, credits and guarantees

P Moschino

During the year the director P Moschino had the following loan account with the company:

31.1.25

31.1.24

£

£

Monies advanced to the company by P Moschino

503

-

Balance owed by the company carried forward

503

-

13.	Related party disclosures

14.	Ultimate controlling party