IRIS Accounts Production v23.2.0.158 08898714 director 1.3.22 28.2.23 28.2.23 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure088987142022-02-28088987142023-02-28088987142022-03-012023-02-28088987142021-02-28088987142021-03-012022-02-28088987142022-02-2808898714ns16:EnglandWales2022-03-012023-02-2808898714ns15:PoundSterling2022-03-012023-02-2808898714ns11:Director12022-03-012023-02-2808898714ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2808898714ns11:SmallEntities2022-03-012023-02-2808898714ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-2808898714ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2808898714ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2808898714ns11:FullAccounts2022-03-012023-02-280889871412022-03-012023-02-2808898714ns11:RegisteredOffice2022-03-012023-02-2808898714ns6:CurrentFinancialInstruments2023-02-2808898714ns6:CurrentFinancialInstruments2022-02-2808898714ns6:ShareCapital2023-02-2808898714ns6:ShareCapital2022-02-2808898714ns6:RetainedEarningsAccumulatedLosses2023-02-2808898714ns6:RetainedEarningsAccumulatedLosses2022-02-2808898714ns6:NetGoodwill2022-03-012023-02-2808898714ns6:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2808898714ns6:NetGoodwill2022-02-2808898714ns6:NetGoodwill2023-02-2808898714ns6:NetGoodwill2022-02-2808898714ns6:CostValuation2022-02-2808898714ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2808898714ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-28
REGISTERED NUMBER: 08898714 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

CRUDO LIMITED

CRUDO LIMITED (REGISTERED NUMBER: 08898714)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CRUDO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: A Mello Grosso





REGISTERED OFFICE: 46 Bruton Place
London
W1J 6PD





REGISTERED NUMBER: 08898714 (England and Wales)





ACCOUNTANTS: B&P Tax Legal Finance LLP
38 Craven Street
London
WC2N 5NG

CRUDO LIMITED (REGISTERED NUMBER: 08898714)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 255 435
Investments 5 100 100
355 535

CURRENT ASSETS
Stocks 3,752 1,971
Debtors 6 818,239 547,708
Cash at bank 31,750 221
853,741 549,900
CREDITORS
Amounts falling due within one year 7 (868,813 ) (566,980 )
NET CURRENT LIABILITIES (15,072 ) (17,080 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(14,717

)

(16,545

)

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (15,017 ) (16,845 )
(14,717 ) (16,545 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2023 and were signed by:



A Mello Grosso - Director


CRUDO LIMITED (REGISTERED NUMBER: 08898714)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Crudo 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

CRUDO LIMITED (REGISTERED NUMBER: 08898714)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Creditors
Short term trade 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 AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 1,800
AMORTISATION
At 1 March 2022 1,365
Charge for year 180
At 28 February 2023 1,545
NET BOOK VALUE
At 28 February 2023 255
At 28 February 2022 435

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022
and 28 February 2023 100
NET BOOK VALUE
At 28 February 2023 100
At 28 February 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,356 4,306
Amounts owed by group undertakings 776,523 517,967
Other debtors 25,360 25,435
818,239 547,708

CRUDO LIMITED (REGISTERED NUMBER: 08898714)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 221,215 48,513
Amounts owed to group undertakings 618,124 322,506
Amounts owed to group companies - 169,037
Taxation and social security 350 -
Other creditors 29,124 26,924
868,813 566,980

8. RELATED PARTY DISCLOSURES

During the reporting period the company purchased £36,677 (2022: £21,002) of goods from Caseificio Tosi Srl, which is an associate of the parent company. And as at year end the company owes £171,984 (2022: £169,037) to them, this balance is included in creditors.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Metos Srl.

The ultimate controlling party is A Mello Grosso.