2022-02-012023-01-312023-01-31false06774756ITAL-CUTLERY SERVICES LTD2023-09-2774909iso4217:GBPxbrli:pure067747562022-02-01067747562023-01-31067747562022-02-012023-01-31067747562021-02-01067747562022-01-31067747562021-02-012022-01-3106774756bus:SmallEntities2022-02-012023-01-3106774756bus:AuditExempt-NoAccountantsReport2022-02-012023-01-3106774756bus:FullAccounts2022-02-012023-01-3106774756bus:PrivateLimitedCompanyLtd2022-02-012023-01-3106774756core:WithinOneYear2023-01-3106774756core:AfterOneYear2023-01-3106774756core:WithinOneYear2022-01-3106774756core:AfterOneYear2022-01-3106774756core:ShareCapital2023-01-3106774756core:SharePremium2023-01-3106774756core:RevaluationReserve2023-01-3106774756core:OtherReservesSubtotal2023-01-3106774756core:RetainedEarningsAccumulatedLosses2023-01-3106774756core:ShareCapital2022-01-3106774756core:SharePremium2022-01-3106774756core:RevaluationReserve2022-01-3106774756core:OtherReservesSubtotal2022-01-3106774756core:RetainedEarningsAccumulatedLosses2022-01-3106774756core:LandBuildings2023-01-3106774756core:PlantMachinery2023-01-3106774756core:Vehicles2023-01-3106774756core:FurnitureFittings2023-01-3106774756core:OfficeEquipment2023-01-3106774756core:NetGoodwill2023-01-3106774756core:IntangibleAssetsOtherThanGoodwill2023-01-3106774756core:ListedExchangeTraded2023-01-3106774756core:UnlistedNon-exchangeTraded2023-01-3106774756core:LandBuildings2022-01-3106774756core:PlantMachinery2022-01-3106774756core:Vehicles2022-01-3106774756core:FurnitureFittings2022-01-3106774756core:OfficeEquipment2022-01-3106774756core:NetGoodwill2022-01-3106774756core:IntangibleAssetsOtherThanGoodwill2022-01-3106774756core:ListedExchangeTraded2022-01-3106774756core:UnlistedNon-exchangeTraded2022-01-3106774756core:LandBuildings2022-02-012023-01-3106774756core:PlantMachinery2022-02-012023-01-3106774756core:Vehicles2022-02-012023-01-3106774756core:FurnitureFittings2022-02-012023-01-3106774756core:OfficeEquipment2022-02-012023-01-3106774756core:NetGoodwill2022-02-012023-01-3106774756core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3106774756core:ListedExchangeTraded2022-02-012023-01-3106774756core:UnlistedNon-exchangeTraded2022-02-012023-01-3106774756core:MoreThanFiveYears2022-02-012023-01-3106774756core:Non-currentFinancialInstruments2023-01-3106774756core:Non-currentFinancialInstruments2022-01-3106774756dpl:CostSales2022-02-012023-01-3106774756dpl:DistributionCosts2022-02-012023-01-3106774756dpl:AdministrativeExpenses2022-02-012023-01-3106774756core:LandBuildings2022-02-012023-01-3106774756core:PlantMachinery2022-02-012023-01-3106774756core:Vehicles2022-02-012023-01-3106774756core:FurnitureFittings2022-02-012023-01-3106774756core:OfficeEquipment2022-02-012023-01-3106774756core:NetGoodwill2022-02-012023-01-3106774756core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3106774756dpl:GroupUndertakings2022-02-012023-01-3106774756dpl:ParticipatingInterests2022-02-012023-01-3106774756dpl:GroupUndertakingscore:ListedExchangeTraded2022-02-012023-01-3106774756core:ListedExchangeTraded2022-02-012023-01-3106774756dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-02-012023-01-3106774756core:UnlistedNon-exchangeTraded2022-02-012023-01-3106774756dpl:CostSales2021-02-012022-01-3106774756dpl:DistributionCosts2021-02-012022-01-3106774756dpl:AdministrativeExpenses2021-02-012022-01-3106774756core:LandBuildings2021-02-012022-01-3106774756core:PlantMachinery2021-02-012022-01-3106774756core:Vehicles2021-02-012022-01-3106774756core:FurnitureFittings2021-02-012022-01-3106774756core:OfficeEquipment2021-02-012022-01-3106774756core:NetGoodwill2021-02-012022-01-3106774756core:IntangibleAssetsOtherThanGoodwill2021-02-012022-01-3106774756dpl:GroupUndertakings2021-02-012022-01-3106774756dpl:ParticipatingInterests2021-02-012022-01-3106774756dpl:GroupUndertakingscore:ListedExchangeTraded2021-02-012022-01-3106774756core:ListedExchangeTraded2021-02-012022-01-3106774756dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-02-012022-01-3106774756core:UnlistedNon-exchangeTraded2021-02-012022-01-3106774756core:NetGoodwill2023-01-3106774756core:IntangibleAssetsOtherThanGoodwill2023-01-3106774756core:LandBuildings2023-01-3106774756core:PlantMachinery2023-01-3106774756core:Vehicles2023-01-3106774756core:FurnitureFittings2023-01-3106774756core:OfficeEquipment2023-01-3106774756core:AfterOneYear2023-01-3106774756core:WithinOneYear2023-01-3106774756core:ListedExchangeTraded2023-01-3106774756core:UnlistedNon-exchangeTraded2023-01-3106774756core:ShareCapital2023-01-3106774756core:SharePremium2023-01-3106774756core:RevaluationReserve2023-01-3106774756core:OtherReservesSubtotal2023-01-3106774756core:RetainedEarningsAccumulatedLosses2023-01-3106774756core:NetGoodwill2022-01-3106774756core:IntangibleAssetsOtherThanGoodwill2022-01-3106774756core:LandBuildings2022-01-3106774756core:PlantMachinery2022-01-3106774756core:Vehicles2022-01-3106774756core:FurnitureFittings2022-01-3106774756core:OfficeEquipment2022-01-3106774756core:AfterOneYear2022-01-3106774756core:WithinOneYear2022-01-3106774756core:ListedExc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ITAL-CUTLERY SERVICES LTD

Registered Number
06774756
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

ITAL-CUTLERY SERVICES LTD
Company Information
for the year from 1 February 2022 to 31 January 2023

Directors

FERRARI, Dino
FERRARI, Hana
GIACOPAZZI, Joanne Elizabeth
GIACOPAZZI, Paul Peter Ralph

Registered Address

Rear Of 47 Manor Avenue
Brockley
SE4 1TD

Registered Number

06774756 (England and Wales)
ITAL-CUTLERY SERVICES LTD
Statement of Financial Position
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets549,21941,575
49,21941,575
Current assets
Stocks6322,674233,379
Debtors7118,05096,900
Cash at bank and on hand92,765108,125
533,489438,404
Creditors amounts falling due within one year8(144,949)(96,007)
Net current assets (liabilities)388,540342,397
Total assets less current liabilities437,759383,972
Creditors amounts falling due after one year9(24,017)(37,883)
Provisions for liabilities10(9,352)(7,899)
Net assets404,390338,190
Capital and reserves
Called up share capital100100
Profit and loss account404,290338,090
Shareholders' funds404,390338,190
The financial statements were approved and authorised for issue by the Board of Directors on 27 September 2023, and are signed on its behalf by:
FERRARI, Dino
Director
GIACOPAZZI, Paul Peter Ralph
Director

Registered Company No. 06774756
ITAL-CUTLERY SERVICES LTD
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
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 policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1919
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 February 2248,368106,6335,393160,394
Additions-22,8081,24324,051
At 31 January 2348,368129,4416,636184,445
Depreciation and impairment
At 01 February 2238,61775,3374,865118,819
Charge for year2,43813,52644316,407
At 31 January 2341,05588,8635,308135,226
Net book value
At 31 January 237,31340,5781,32849,219
At 31 January 229,75131,29652841,575
6.Stocks

2023

2022

££
Finished goods322,674233,379
Total322,674233,379
7.Debtors

2023

2022

££
Trade debtors / trade receivables105,04783,592
Other debtors500-
Prepayments and accrued income12,50313,308
Total118,05096,900
8.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts13,84917,067
Taxation and social security88,44660,104
Other creditors15,00713,746
Accrued liabilities and deferred income27,6475,090
Total144,94996,007
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts24,01737,883
Total24,01737,883
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)9,3527,899
Total9,3527,899