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COMPANY REGISTRATION NUMBER: 09856287
Del Pozzo Group Ltd
Unaudited financial statements
30 November 2021
Del Pozzo Group Ltd
Statement of financial position
30 November 2021
2021
2020
Note
£
£
£
£
Fixed assets
Tangible assets
5
632,620
633,083
Current assets
Cash at bank and in hand
7,049
12,620
Prepayments and accrued income
1,097
374
Creditors: Amounts falling due within one year
6
( 237,335)
( 242,827)
---------
---------
Net current liabilities
( 229,189)
( 229,833)
---------
---------
Total assets less current liabilities
403,431
403,250
Accruals and deferred income
( 4,627)
( 3,465)
---------
---------
Net assets
398,804
399,785
---------
---------
Capital and reserves
Called up share capital
380,000
380,000
Revaluation reserve
1,569
7,846
Profit and loss account
17,235
11,939
---------
---------
Shareholders funds
398,804
399,785
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 August 2022 , and are signed on behalf of the board by:
Mr D Farchy
Director
Company registration number: 09856287
Del Pozzo Group Ltd
Notes to the financial statements
Year ended 30 November 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 83 Ducie Street, Manchester, M1 2JQ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 1 (2020: 2 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 December 2020
632,157
2,315
634,472
Additions
6,277
6,277
Revaluations
( 6,277)
( 6,277)
---------
------
---------
At 30 November 2021
632,157
2,315
634,472
---------
------
---------
Depreciation
At 1 December 2020
1,389
1,389
Charge for the year
463
463
---------
------
---------
At 30 November 2021
1,852
1,852
---------
------
---------
Carrying amount
At 30 November 2021
632,157
463
632,620
---------
------
---------
At 30 November 2020
632,157
926
633,083
---------
------
---------
At the year end the investment property has been revalued by the directors to its current market value.
6. Creditors: Amounts falling due within one year
2021
2020
£
£
Trade creditors
1,608
Social security and other taxes
1,351
2,374
Other creditors
234,376
240,453
---------
---------
237,335
242,827
---------
---------