IRIS Accounts Production v22.1.4.3 08295775 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure082957752020-12-31082957752021-12-31082957752021-01-012021-12-31082957752019-12-31082957752020-01-012020-12-31082957752020-12-3108295775ns16:EnglandWales2021-01-012021-12-3108295775ns15:PoundSterling2021-01-012021-12-3108295775ns11:Director12021-01-012021-12-3108295775ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3108295775ns11:SmallEntities2021-01-012021-12-3108295775ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3108295775ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3108295775ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3108295775ns11:FullAccounts2021-01-012021-12-3108295775ns11:Director22021-01-012021-12-3108295775ns11:RegisteredOffice2021-01-012021-12-3108295775ns6:CurrentFinancialInstruments2021-12-3108295775ns6:CurrentFinancialInstruments2020-12-3108295775ns6:Non-currentFinancialInstruments2021-12-3108295775ns6:Non-currentFinancialInstruments2020-12-3108295775ns6:ShareCapital2021-12-3108295775ns6:ShareCapital2020-12-3108295775ns6:RetainedEarningsAccumulatedLosses2021-12-3108295775ns6:RetainedEarningsAccumulatedLosses2020-12-3108295775ns6:ShortLeaseholdAssetsns6:LandBuildings2021-01-012021-12-3108295775ns6:PlantMachinery2021-01-012021-12-3108295775ns6:FurnitureFittings2021-01-012021-12-3108295775ns6:MotorVehicles2021-01-012021-12-3108295775ns6:ComputerEquipment2021-01-012021-12-3108295775ns6:ShortLeaseholdAssetsns6:LandBuildings2020-12-3108295775ns6:PlantMachinery2020-12-3108295775ns6:FurnitureFittings2020-12-3108295775ns6:ShortLeaseholdAssetsns6:LandBuildings2021-12-3108295775ns6:PlantMachinery2021-12-3108295775ns6:FurnitureFittings2021-12-3108295775ns6:ShortLeaseholdAssetsns6:LandBuildings2020-12-3108295775ns6:PlantMachinery2020-12-3108295775ns6:FurnitureFittings2020-12-3108295775ns6:MotorVehicles2020-12-3108295775ns6:ComputerEquipment2020-12-3108295775ns6:MotorVehicles2021-12-3108295775ns6:ComputerEquipment2021-12-3108295775ns6:MotorVehicles2020-12-3108295775ns6:ComputerEquipment2020-12-3108295775ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3108295775ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3108295775ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-12-3108295775ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2020-12-31
REGISTERED NUMBER: 08295775 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Lievito Limited

Lievito Limited (Registered number: 08295775)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lievito Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mrs G S Nicodemi
P M Nicodemi





REGISTERED OFFICE: 3 Landmark House
Wirral Park Road
Glastonbury
Somerset
BA6 9FR





REGISTERED NUMBER: 08295775 (England and Wales)

Lievito Limited (Registered number: 08295775)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 233,025 80,864

CURRENT ASSETS
Stocks 9,958 6,807
Debtors 5 130,501 63,748
Cash at bank and in hand 94,185 31,318
234,644 101,873
CREDITORS
Amounts falling due within one year 6 177,510 64,291
NET CURRENT ASSETS 57,134 37,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

290,159

118,446

CREDITORS
Amounts falling due after more than one
year

7

(135,955

)

(108,158

)

PROVISIONS FOR LIABILITIES (31,355 ) (14,235 )
NET ASSETS/(LIABILITIES) 122,849 (3,947 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 122,749 (4,047 )
SHAREHOLDERS' FUNDS 122,849 (3,947 )

Lievito Limited (Registered number: 08295775)

Balance Sheet - continued
31 December 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 26 August 2022 and were signed on its behalf by:





Mrs G S Nicodemi - Director


Lievito Limited (Registered number: 08295775)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Lievito 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.

This is the first year in which the financial statements have been prepared under FRS 102 Section 1A "Small Entities".

The transition to FRS 102 Section 1A "Small Entities" has resulted in changes to financial position and financial performance that were previously reported under FRS105. These changes can be found in the reconciliation of profit and equity.

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.
Short leasehold - 25% on straight line basis
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2020 - 12 ) .

Lievito Limited (Registered number: 08295775)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2021 48,624 92,940 2,515
Additions 96,734 117,987 6,023
Disposals - - -
At 31 December 2021 145,358 210,927 8,538
DEPRECIATION
At 1 January 2021 42,681 49,798 993
Charge for year 26,695 32,224 1,131
Eliminated on disposal - - -
At 31 December 2021 69,376 82,022 2,124
NET BOOK VALUE
At 31 December 2021 75,982 128,905 6,414
At 31 December 2020 5,943 43,142 1,522

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2021 59,950 4,221 208,250
Additions - 3,141 223,885
Disposals (22,985 ) - (22,985 )
At 31 December 2021 36,965 7,362 409,150
DEPRECIATION
At 1 January 2021 30,353 3,561 127,386
Charge for year 6,393 1,253 67,696
Eliminated on disposal (18,957 ) - (18,957 )
At 31 December 2021 17,789 4,814 176,125
NET BOOK VALUE
At 31 December 2021 19,176 2,548 233,025
At 31 December 2020 29,597 660 80,864

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 72,598 50,917
Other debtors 10,398 3,297
Tax 10,978 5,489
VAT 36,527 4,045
130,501 63,748

Lievito Limited (Registered number: 08295775)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 41,965 -
Hire purchase contracts 23,382 24,531
Trade creditors 45,701 23,797
Tax 35,345 14,047
Directors' current accounts 29,619 415
Accrued expenses 1,498 1,501
177,510 64,291

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans - 2-5 years 100,000 50,000
Hire purchase contracts 35,955 58,158
135,955 108,158

8. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by Mr P Nicodemi and Mrs G Nicodemi.