Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00237258 2022-01-01 2022-12-31 00237258 2021-01-01 2021-12-31 00237258 2022-12-31 00237258 2021-12-31 00237258 2021-01-01 00237258 c:Director1 2022-01-01 2022-12-31 00237258 c:Director2 2022-01-01 2022-12-31 00237258 d:FurnitureFittings 2022-01-01 2022-12-31 00237258 d:FurnitureFittings 2022-12-31 00237258 d:FurnitureFittings 2021-12-31 00237258 d:FreeholdInvestmentProperty 2022-01-01 2022-12-31 00237258 d:FreeholdInvestmentProperty 2022-12-31 00237258 d:FreeholdInvestmentProperty 2021-12-31 00237258 d:FreeholdInvestmentProperty 2 2022-01-01 2022-12-31 00237258 d:CurrentFinancialInstruments 2022-12-31 00237258 d:CurrentFinancialInstruments 2021-12-31 00237258 d:Non-currentFinancialInstruments 2022-12-31 00237258 d:Non-currentFinancialInstruments 2021-12-31 00237258 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00237258 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 00237258 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 00237258 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 00237258 d:ShareCapital 2022-12-31 00237258 d:ShareCapital 2021-12-31 00237258 d:CapitalRedemptionReserve 2022-12-31 00237258 d:CapitalRedemptionReserve 2021-12-31 00237258 d:RevaluationReserve 2022-12-31 00237258 d:RevaluationReserve 2021-12-31 00237258 d:RetainedEarningsAccumulatedLosses 2022-12-31 00237258 d:RetainedEarningsAccumulatedLosses 2021-12-31 00237258 c:OrdinaryShareClass1 2022-01-01 2022-12-31 00237258 c:OrdinaryShareClass1 2022-12-31 00237258 c:OrdinaryShareClass1 2021-12-31 00237258 c:OrdinaryShareClass2 2022-01-01 2022-12-31 00237258 c:OrdinaryShareClass2 2022-12-31 00237258 c:OrdinaryShareClass2 2021-12-31 00237258 c:FRS102 2022-01-01 2022-12-31 00237258 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 00237258 c:FullAccounts 2022-01-01 2022-12-31 00237258 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 00237258 d:Subsidiary1 2022-01-01 2022-12-31 00237258 d:Subsidiary1 1 2022-01-01 2022-12-31 00237258 d:OtherDeferredTax 2022-12-31 00237258 d:OtherDeferredTax 2021-12-31 00237258 5 2022-01-01 2022-12-31 00237258 6 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00237258









G.PARMIGIANI FIGLIO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
G.PARMIGIANI FIGLIO LIMITED
REGISTERED NUMBER: 00237258

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Investments
  
100
-

Investment property
 6 
14,500,000
7,500,000

  
14,500,100
7,500,000

Current assets
  

Debtors: amounts falling due within one year
 7 
22,443
8,212

Cash at bank and in hand
  
252,438
9,158

  
274,881
17,370

Creditors: amounts falling due within one year
 8 
(504,866)
(274,167)

Net current liabilities
  
 
 
(229,985)
 
 
(256,797)

Total assets less current liabilities
  
14,270,115
7,243,203

Creditors: amounts falling due after more than one year
 9 
(9,018,950)
(4,399,299)

Provisions for liabilities
  

Deferred tax
 10 
(817,552)
(424,701)

  
 
 
(817,552)
 
 
(424,701)

Net assets
  
4,433,613
2,419,203


Capital and reserves
  

Called up share capital 
 11 
5,300
5,300

Other reserve
  
3,511,524
1,836,738

Capital redemption reserve
  
700
700

Profit and loss account
  
916,089
576,465

  
4,433,613
2,419,203


Page 1

 
G.PARMIGIANI FIGLIO LIMITED
REGISTERED NUMBER: 00237258
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2023.



P Parmigiani
S Gelmetti
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

G. Parmigiani Figlio Limited is a private company, limited by shares, incorporated in the United Kingdom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, London, 6XH. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors or valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2022
1,000



At 31 December 2022

1,000



Depreciation


At 1 January 2022
1,000



At 31 December 2022

1,000



Net book value



At 31 December 2022
-



At 31 December 2021
-

Page 6

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
100



At 31 December 2022
100





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Someday Limited
101 New Cavendish Street,                       London W1W 6XH
Ordinary
100%

The aggregate of the share capital and reserves as at 31 December 2022 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Someday Limited
100
-

Page 7

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2022
7,500,000


Additions at cost
4,932,363


Surplus on revaluation
2,067,637



At 31 December 2022
14,500,000

The 2022 valuations were made by the directors, on an open market value for existing use basis.



At 31 December 2022



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2022
2021
£
£


Historic cost
5,238,560
760,427

Additions at cost
4,932,363
4,478,133

10,170,923
5,238,560


7.


Debtors

2022
2021
£
£


Other debtors
22,443
8,212

22,443
8,212


Page 8

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Amounts owed to group undertakings
100
-

Other creditors
200,000
200,000

Directors' loan accounts
292,797
72,817

Accruals and deferred income
11,969
1,350

504,866
274,167



9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Trade creditors
9,018,950
4,399,299

9,018,950
4,399,299



10.


Deferred taxation




2022
2021


£

£






At beginning of year
(424,701)
(92,432)


Charged to reserves
(392,851)
(332,269)



At end of year
(817,552)
(424,701)

2022
2021
£
£


Arising on revaluation of investment property
(817,552)
(424,701)

(817,552)
(424,701)

Page 9

 
G.PARMIGIANI FIGLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2,300 (2021 - 2,300) Ordinary shares of £1.00 each
2,300
2,300
3,000 (2021 - 3,000) Preference shares of £1.00 each
3,000
3,000

5,300

5,300



12.


Controlling party

The company was under the control of P Parmigiani throughout the current and previous year.

 
Page 10