Campania Trading Limited
Registered number: 08679964
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 660 776
Investments 4 3,066,984 3,066,984
3,067,644 3,067,760
Current assets
Debtors 5 342,516 398,988
Cash at bank and in hand 682,816 308,004
1,025,332 706,992
Creditors: amounts falling due within one year 6 (42,603) (56,800)
Net current assets 982,729 650,192
Total assets less current liabilities 4,050,373 3,717,952
Provisions for liabilities (65,872) (65,872)
Net assets 3,984,501 3,652,080
Capital and reserves
Called up share capital 1,000 1,000
Share premium 1,499,001 1,499,001
Profit and loss account 9 2,484,500 2,152,079
Shareholders' funds 3,984,501 3,652,080
Average number of employees 2 2
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Novi
Director
Approved by the board on 28 June 2023
Campania Trading Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover consists of the gross rents received from the company's investment properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture 15% reducing balance
Investments
Investments in subsidiaries are shown at cost, less provision for impairment. Investment properties are revalued annually by either professional valuers, or by the director.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provision is made for the potential tax liability arising from the revaluation of the company's investment properties.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Furniture
£
Cost
At 1 February 2022 2,058
At 31 January 2023 2,058
Depreciation
At 1 February 2022 1,282
Charge for the year 116
At 31 January 2023 1,398
Net book value
At 31 January 2023 660
At 31 January 2022 776
4 Investments
Investments in Freehold &
subsidiary Leasehold
undertakings Properties Total
£ £ £
Cost
At 1 February 2022 500,000 2,566,984 3,066,984
At 31 January 2023 500,000 2,566,984 3,066,984
The investment properties were valued at market value at 31st January 2017 by Molica
Franklin Ltd and Cousins Edmonton Ltd, estate agents. The director is of the opinion that these
valuations should be retained for the purpose of these accounts.
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 186,490 316,749
Loan to director 114,000 -
Other debtors 42,026 82,239
342,516 398,988
6 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 18,463 15,019
Other creditors 24,140 41,781
42,603 56,800
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N Novi
Temporary loan 114,000 114,000
- 114,000 - 114,000
8 Taxation 2023 2022
£ £
Corporation tax payable 19,690 15,019
19,690 15,019
9 Profit and loss account
Available for distribution 2,039,781
Investment property revaluation reserve 444,719
2,484,500
10 Related party transactions
Dividends totalling £104,040 (2022 - £104,040) were paid to N Novi, and £99,960 to C Novi (2022 - £99,960) during the year. Dividends totalling £500,000 (2022 - £450,000) were received from the company's subsidiary, Campania Foods Limited.
11 Controlling party
The company is controlled by N Novi, who now holds 51% of the issued share capital.
12 Other information
Campania Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Phipps Hatch Lane
Enfield
Middlesex
EN2 0HN
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