Apposta Ltd 09797132 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is retail sales via mail order houses or via the internet. Digita Accounts Production Advanced 6.30.9574.0 true true 09797132 2022-01-01 2022-12-31 09797132 2022-12-31 09797132 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-12-31 09797132 core:CurrentFinancialInstruments 2022-12-31 09797132 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09797132 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 09797132 core:Goodwill 2022-12-31 09797132 core:OtherPropertyPlantEquipment 2022-12-31 09797132 bus:SmallEntities 2022-01-01 2022-12-31 09797132 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 09797132 bus:FullAccounts 2022-01-01 2022-12-31 09797132 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 09797132 bus:RegisteredOffice 2022-01-01 2022-12-31 09797132 bus:Director1 2022-01-01 2022-12-31 09797132 bus:Director2 2022-01-01 2022-12-31 09797132 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-01-01 2022-12-31 09797132 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09797132 core:Goodwill 2022-01-01 2022-12-31 09797132 core:OtherPropertyPlantEquipment 2022-01-01 2022-12-31 09797132 core:PlantMachinery 2022-01-01 2022-12-31 09797132 countries:UnitedKingdom 2022-01-01 2022-12-31 09797132 2021-12-31 09797132 core:Goodwill 2021-12-31 09797132 core:OtherPropertyPlantEquipment 2021-12-31 09797132 2021-01-01 2021-12-31 09797132 2021-12-31 09797132 bus:OrdinaryShareClass1 bus:CumulativeShares 2021-12-31 09797132 core:CurrentFinancialInstruments 2021-12-31 09797132 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 09797132 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 09797132 core:OtherPropertyPlantEquipment 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09797132

Apposta Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Apposta Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Apposta Ltd

Company Information

Directors

Gianluca Mei

Gianmarco Taccaliti

Registered office

30 Moorgate
London
EC2R 6DA

 

Apposta Ltd

(Registration number: 09797132)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

-

622

Current assets

 

Stocks

6

26,605

25,214

Debtors

7

20,716

29,347

Cash at bank and in hand

 

82,046

80,681

 

129,367

135,242

Creditors: Amounts falling due within one year

8

(1,472,398)

(815,740)

Net current liabilities

 

(1,343,031)

(680,498)

Total assets less current liabilities

 

(1,343,031)

(679,876)

Creditors: Amounts falling due after more than one year

8

(179,400)

(189,400)

Net liabilities

 

(1,522,431)

(869,276)

Capital and reserves

 

Called up share capital

1,850

1,788

Share premium reserve

2,040,332

1,845,780

Retained earnings

(3,564,613)

(2,716,844)

Shareholders' deficit

 

(1,522,431)

(869,276)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

.........................................

Gianmarco Taccaliti
Director

 

Apposta Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
30 Moorgate
London
EC2R 6DA
United Kingdom

These financial statements were authorised for issue by the Board on 22 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

At 31 December 2022, the company had net liabilities. Despite this, the directors have confirmed that in their opinion the company will be able to meet its liabilities as they fall due for the foreseeable future (being a period not less than twelve months).

Consequently, the company is considered a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Apposta Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Apposta Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2021 - 4).

 

Apposta Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2022

151,735

151,735

At 31 December 2022

151,735

151,735

Amortisation

At 1 January 2022

151,735

151,735

At 31 December 2022

151,735

151,735

Carrying amount

At 31 December 2022

-

-

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2022

12,286

12,286

At 31 December 2022

12,286

12,286

Depreciation

At 1 January 2022

11,664

11,664

Charge for the year

622

622

At 31 December 2022

12,286

12,286

Carrying amount

At 31 December 2022

-

-

At 31 December 2021

622

622

6

Stocks

2022
£

2021
£

Other inventories

26,605

25,214

 

Apposta Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7

Debtors

2022
£

2021
£

Trade debtors

8,545

13,287

Prepayments

3,234

4,207

Other debtors

8,937

11,853

20,716

29,347

8

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

162,632

61,180

Trade creditors

 

771,103

363,041

Taxation and social security

 

453,412

314,341

Accruals and deferred income

 

82,807

60,234

Other creditors

 

2,444

16,944

 

1,472,398

815,740

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

179,400

189,400

9

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £0.001 each

1,849,918

1,849.92

1,788,002

1,788.00

         

During the year 61,916 Ordinary shares having an aggregate nominal value of £61.92 were allotted for an aggregate consideration of £194,602.

 

Apposta Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

10

Control

There is no controlling party.

There is no ultimate controlling party.