IRIS Accounts Production v22.2.0.402 02621565 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure026215652020-12-31026215652021-12-31026215652021-01-012021-12-31026215652019-12-31026215652020-01-012020-12-31026215652020-12-3102621565ns16:EnglandWales2021-01-012021-12-3102621565ns15:PoundSterling2021-01-012021-12-3102621565ns11:Director12021-01-012021-12-3102621565ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3102621565ns11:SmallEntities2021-01-012021-12-3102621565ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3102621565ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3102621565ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3102621565ns11:FullAccounts2021-01-012021-12-3102621565ns11:Director22021-01-012021-12-3102621565ns11:Director32021-01-012021-12-3102621565ns11:Director42021-01-012021-12-3102621565ns11:Director52021-01-012021-12-3102621565ns11:RegisteredOffice2021-01-012021-12-3102621565ns6:CurrentFinancialInstruments2021-12-3102621565ns6:CurrentFinancialInstruments2020-12-3102621565ns6:Non-currentFinancialInstruments2021-12-3102621565ns6:Non-currentFinancialInstruments2020-12-3102621565ns6:ShareCapital2021-12-3102621565ns6:ShareCapital2020-12-3102621565ns6:CapitalRedemptionReserve2021-12-3102621565ns6:CapitalRedemptionReserve2020-12-3102621565ns6:RetainedEarningsAccumulatedLosses2021-12-3102621565ns6:RetainedEarningsAccumulatedLosses2020-12-3102621565ns6:ShortLeaseholdAssetsns6:LandBuildings2020-12-3102621565ns6:PlantMachinery2020-12-3102621565ns6:FurnitureFittings2020-12-3102621565ns6:ComputerEquipment2020-12-3102621565ns6:ShortLeaseholdAssetsns6:LandBuildings2021-01-012021-12-3102621565ns6:PlantMachinery2021-01-012021-12-3102621565ns6:FurnitureFittings2021-01-012021-12-3102621565ns6:ComputerEquipment2021-01-012021-12-3102621565ns6:ShortLeaseholdAssetsns6:LandBuildings2021-12-3102621565ns6:PlantMachinery2021-12-3102621565ns6:FurnitureFittings2021-12-3102621565ns6:ComputerEquipment2021-12-3102621565ns6:ShortLeaseholdAssetsns6:LandBuildings2020-12-3102621565ns6:PlantMachinery2020-12-3102621565ns6:FurnitureFittings2020-12-3102621565ns6:ComputerEquipment2020-12-3102621565ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3102621565ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3102621565ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-12-3102621565ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2020-12-31
REGISTERED NUMBER: 02621565 (England and Wales)










L'anza Europe Limited

Unaudited Financial Statements

for the Year Ended 31 December 2021






L'anza Europe Limited (Registered number: 02621565)






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


L'anza Europe Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: D J Rippon
E K Hornigold
V J Patten
H Hornigold
D A Patten





REGISTERED OFFICE: 800 Wellworthy Road
Lymington
Hampshire
SO41 8JY





REGISTERED NUMBER: 02621565 (England and Wales)

L'anza Europe Limited (Registered number: 02621565)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 5 127,961 125,096

CURRENT ASSETS
Stocks 6 357,428 296,577
Debtors 7 290,879 378,631
Cash at bank and in hand 74,989 78,425
723,296 753,633
CREDITORS
Amounts falling due within one year 8 (391,477 ) (431,138 )
NET CURRENT ASSETS 331,819 322,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,780

447,591

CREDITORS
Amounts falling due after more than one year 9 (223,308 ) (250,000 )
NET ASSETS 236,472 197,591

CAPITAL AND RESERVES
Called up share capital 600 600
Capital redemption reserve 400 400
Retained earnings 235,472 196,591
SHAREHOLDERS' FUNDS 236,472 197,591

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.

L'anza Europe Limited (Registered number: 02621565)

Balance Sheet - continued
31 December 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:





H Hornigold - Director


L'anza Europe Limited (Registered number: 02621565)

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

1. STATUTORY INFORMATION

L'anza Europe 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. 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 under the historical cost convention.

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
Tangible assets are stated in the statement of financial postilion 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 classDepreciation method and rate
Furniture and fittings20% straight line basis
Office equipment 20% straight line basis
Plant and machinery 20% straight line basis
Computer equipment33.33% straight line basis
Short leasehold land and buildings10% straight line basis

STOCKS
Stocks ate 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 arc impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in or loss.

CASH AND CASH EQUIVALENT
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.


L'anza Europe Limited (Registered number: 02621565)

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

3. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

L'anza Europe Limited (Registered number: 02621565)

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

3. ACCOUNTING POLICIES - continued

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.

Leases in which substantially all the risks and rewards of ownership are retained by the lessor arc classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms or the lease transfer substantially all the risks and rewards of ownership the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rete of interest on the remaining balance of the liability.

TRADE CREDITORS
Trade creditors obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable classified as current liabilities if the company does not have an unconditional rights 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 ate recognized initially at the transaction price and subsequently measured at amortised cost using (Ire effective interest method.

BORROWINGS
Interest-bearing borrowings are initially reconciled at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period or the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company Ins an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
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.

L'anza Europe Limited (Registered number: 02621565)

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

3. ACCOUNTING POLICIES - continued

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.

DIVIDENDS
Dividend distribution to the company's shareholders is recognized as a liability in the financial statements in the reporting period in which the dividends ale declared.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

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 and after eliminating sales within the company.

The company recognizes 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2020 - 26 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 172,141 19,679 195,504 144,177 531,501
Additions - 640 - 23,207 23,847
At 31 December 2021 172,141 20,319 195,504 167,384 555,348
DEPRECIATION
At 1 January 2021 53,083 19,565 191,921 141,836 406,405
Charge for year 18,537 68 1,151 1,226 20,982
At 31 December 2021 71,620 19,633 193,072 143,062 427,387
NET BOOK VALUE
At 31 December 2021 100,521 686 2,432 24,322 127,961
At 31 December 2020 119,058 114 3,583 2,341 125,096

L'anza Europe Limited (Registered number: 02621565)

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

6. STOCKS
2021 2020
£    £   
Stocks 357,428 296,577

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 138,802 188,078
Other debtors 91,437 123,931
Deferred tax asset 312 5,071
Prepayments and accrued income 60,328 61,551
290,879 378,631

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 10) 26,692 15,241
Trade creditors 80,166 114,308
Pension contribution 6,293 5,708
Corporation tax liability 87,395 84,058
Social security and other tax - 19,959
VAT 43,515 111,612
Other creditors 8,439 35,647
Accruals and deferred income 138,977 44,605
391,477 431,138

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans (see note 10) 223,308 250,000

10. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 26,692 15,241

Amounts falling due between two and five years:
Bank loans - 2-5 years 223,308 250,000

L'anza Europe Limited (Registered number: 02621565)

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

11. OTHER FINANCIAL COMMITMENTS

AMOUNT NOT PROVIDED FOR IN THE BALANCE SHEET

The total amount of financial commitments not included in the balance sheet is £36,256 (2020 - £77,167). The company have operating lease commitments.

12. OFF-BALANCE SHEET ARRANGEMENTS

FACTORED DEBTS

Trade debtors include factored debts, which have not been paid to the factoring company. The Factoring company has a charge over all factored debts. As at 31 December 2021, the company owed the factoring company £8,439 (2020 - £35,647).