PATRICK MALLUCCI LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07761510 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

PATRICK MALLUCCI LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Mallucci

A Mallucci

SECRETARY:

REGISTERED OFFICE:

78 Mill Lane

London

NW6 1JZ

REGISTERED NUMBER:

07761510 (England and Wales)

ACCOUNTANTS:

ALAN HEYWOOD & COMPANY LLP.

CHARTERED ACCOUNTANTS

& BUSINESS ADVISORS

78 MILL LANE

LONDON

NW6 1JZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,783

3,117

Investments

6

181,057

181,057

183,840

184,174

CURRENT ASSETS

Stocks

7

7,774

14,774

Debtors

8

1,576,313

1,322,759

Cash at bank and in hand

16,107

32,036

1,600,194

1,369,569

CREDITORS

Amounts falling due within one year

9

416,298

430,455

NET CURRENT ASSETS

1,183,896

939,114

TOTAL ASSETS LESS CURRENT LIABILITIES

1,367,736

1,123,288

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,367,636

1,123,188

SHAREHOLDERS' FUNDS

1,367,736

1,123,288

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 9 December 2019 and were signed on its behalf by:

P Mallucci - Director

1.	STATUTORY INFORMATION

PATRICK MALLUCCI 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 is recorded once the clinical procedure is completed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets

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.

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Stocks

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

items.

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.

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 7 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

300,000

AMORTISATION

At 1 April 2018

and 31 March 2019

300,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2018

10,371

Additions

2,888

At 31 March 2019

13,259

DEPRECIATION

At 1 April 2018

7,254

Charge for year

3,222

At 31 March 2019

10,476

NET BOOK VALUE

At 31 March 2019

2,783

At 31 March 2018

3,117

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2018

and 31 March 2019

181,057

NET BOOK VALUE

At 31 March 2019

181,057

At 31 March 2018

181,057

7.

STOCKS

31.3.19

31.3.18

£

£

Stocks

7,774

14,774

8.

DEBTORS

31.3.19

31.3.18

£

£

Amounts falling due within one year:

Trade debtors

1,717

10,626

Other debtors

60,700

242,859

Directors' current accounts

-

68,324

Prepayments and accrued income

950

950

63,367

322,759

Amounts falling due after more than one year:

Other debtors

1,512,946

1,000,000

Aggregate amounts

1,576,313

1,322,759

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

45,824

62,382

Social security and other taxes

330,162

360,273

Directors' current accounts

32,512

-

Accrued expenses

7,800

7,800

416,298

430,455

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and 31 March 2018:

31.3.19

31.3.18

£

£

P Mallucci

Balance outstanding at start of year

68,324

215,478

Amounts advanced

309,164

583,794

Amounts repaid

(410,000

)

(730,948

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(32,512

)

68,324

11.	RELATED PARTY DISCLOSURES

12.	SECURED DEBTS

NatWest bank has a fixed and floating charge on the total assets of the company, on a loan made to Mallucci London

Limited.