Boglioli Retail UK Limited 13848524 false 2022-01-14 2023-05-31 2023-05-31 The principal activity of the company is providing retail sale of clothing in specialised stores. Digita Accounts Production Advanced 6.30.9574.0 true false true 13848524 2022-01-14 2023-05-31 13848524 2023-05-31 13848524 core:CurrentFinancialInstruments 2023-05-31 13848524 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13848524 bus:SmallEntities 2022-01-14 2023-05-31 13848524 bus:Audited 2022-01-14 2023-05-31 13848524 bus:FullAccounts 2022-01-14 2023-05-31 13848524 bus:SmallCompaniesRegimeForAccounts 2022-01-14 2023-05-31 13848524 bus:RegisteredOffice 2022-01-14 2023-05-31 13848524 bus:Director1 2022-01-14 2023-05-31 13848524 bus:PrivateLimitedCompanyLtd 2022-01-14 2023-05-31 13848524 1 2022-01-14 2023-05-31 13848524 1 2022-01-14 2023-05-31 13848524 countries:EnglandWales 2022-01-14 2023-05-31 13848524 countries:Italy 2022-01-14 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 13848524

Boglioli Retail UK Limited

Annual Report and Financial Statements

for the Period from 14 January 2022 to 31 May 2023

Pages for Filing with Registrar

 

Boglioli Retail UK Limited

(Registration number: 13848524)
Balance Sheet as at 31 May 2023

Note

2023
£

Current assets

 

Debtors

6

93

Cash at bank and in hand

 

261

 

354

Creditors: Amounts falling due within one year

7

(5,233)

Net liabilities

 

(4,879)

Capital and reserves

 

Called up share capital

1,000

Retained earnings

(5,879)

Shareholders' deficit

 

(4,879)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 October 2023 and signed on its behalf by:
 

.........................................
L Botto
Director

 

Boglioli Retail UK Limited

Notes to the Financial Statements for the Period from 14 January 2022 to 31 May 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St. Martin's Lane
London
WC2N 4BE
England

Principal activity

The principal activity of the Company is providing retail sale of clothing in specialised stores.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The company was incorporated on 14 January 2022. The company’s year end date is 31 May 2023. These financial statements are therefore for the long period from 14 January 2022 to 31 May 2023. There are no comparatives as this is the first period of account.

Going concern

The company made a loss in the period and has net current liabilities. The company is dependent on the support from the shareholders to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

 

Boglioli Retail UK Limited

Notes to the Financial Statements for the Period from 14 January 2022 to 31 May 2023

Tax

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

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
taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and
liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in
the Company. Deferred income tax is determined using tax rates and laws that have been enacted or
substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance
is set up against deferred tax assets so that the net carrying amount equals the highest amount that is
more likely than not to be recovered based on current or future taxable profit.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

 

Boglioli Retail UK Limited

Notes to the Financial Statements for the Period from 14 January 2022 to 31 May 2023

Cash and cash equivalents

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, 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 are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 13 October 2023 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including the director) during the period, was 0.

 

Boglioli Retail UK Limited

Notes to the Financial Statements for the Period from 14 January 2022 to 31 May 2023

6

Debtors

2023
£

Other debtors

93

93

7

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Amounts owed to group undertakings

2,083

Other creditors

3,150

5,233

8

Dividends

There were no dividends paid or proposed in the current period.

9

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Boglioli Retail S.R.L., incorporated in Italy.

The address of Boglioli Retail S.R.L. is:
Via Marco Polo,
1/Via Marco Polo,
30020 Noventa di Piave VE,
Italy