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Registration number: 7390471

VICALVI CONTRACT UK LTD

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2022

 

VICALVI CONTRACT UK LTD

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

VICALVI CONTRACT UK LTD

Company Information

Director

Miss Caroline Michele Joelle Vicalvi

Registered office

24 Highbury Grove Court
Highbury Grove
London
N5 2NG

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

VICALVI CONTRACT UK LTD

(Registration number: 7390471)
Abridged Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

9,645

14,077

Current assets

 

Debtors

290,117

16,270

Cash at bank and in hand

 

140,629

43,457

 

430,746

59,727

Prepayments and accrued income

 

1,306

(28,392)

Creditors: Amounts falling due within one year

(814,416)

(499,807)

Net current liabilities

 

(382,364)

(468,472)

Total assets less current liabilities

 

(372,719)

(454,395)

Creditors: Amounts falling due after more than one year

(38,078)

(47,645)

Accruals and deferred income

 

(13,244)

-

Net liabilities

 

(424,041)

(502,040)

Capital and reserves

 

Called up share capital

5

16,883

16,883

Retained earnings

(440,924)

(518,923)

Shareholders' deficit

 

(424,041)

(502,040)

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.

Director's 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 director acknowledges her 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 29 November 2023
 

 

VICALVI CONTRACT UK LTD

(Registration number: 7390471)
Abridged Balance Sheet as at 31 December 2022

.........................................
Miss Caroline Michele Joelle Vicalvi
Director

 

VICALVI CONTRACT UK LTD

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

1

General information

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

The address of its registered office is:
24 Highbury Grove Court
Highbury Grove
London
N5 2NG
England

These financial statements were authorised for issue by the director on 29 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 abridged 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 abridged 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

The financial statements have been prepared on a going concern basis.

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.

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.

 

VICALVI CONTRACT UK LTD

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

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

Fixture and fittings

25% Reducing balance

Plant and machinery

25% Reducing balance

Motor vehicle

25% Reducing balance

Office equipment

25% Reducing balance

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.

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.

 

VICALVI CONTRACT UK LTD

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

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 the director) during the year, was 2 (2021 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2022

99,481

10,584

13,759

123,824

Additions

80

-

-

80

Disposals

-

(10,584)

-

(10,584)

At 31 December 2022

99,561

-

13,759

113,320

Depreciation

At 1 January 2022

87,739

9,288

12,720

109,747

Charge for the year

2,956

-

260

3,216

Eliminated on disposal

-

(9,288)

-

(9,288)

At 31 December 2022

90,695

-

12,980

103,675

Carrying amount

At 31 December 2022

8,866

-

779

9,645

At 31 December 2021

11,742

1,296

1,039

14,077

5

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

16,883

16,883

16,883

16,883

         

6

Related party transactions

 

VICALVI CONTRACT UK LTD

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

Transactions with the director

2022

At 1 January 2022
£

At 31 December 2022
£

Miss Caroline Michele Joelle Vicalvi

Director's loan account

95,122

95,122

     
   

 

2021

At 1 January 2021
£

Advances to director
£

At 31 December 2021
£

Miss Caroline Michele Joelle Vicalvi

Director's loan account

95,225

(103)

95,122

       
     

 

 

VICALVI CONTRACT UK LTD

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

Loans from related parties

2022

Other related parties
£

Total
£

At start of period

285,643

285,643

Advanced

31,802

31,802

Repaid

(3,439)

(3,439)

At end of period

314,006

314,006

2021

Other related parties
£

Total
£

At start of period

285,775

285,775

Repaid

(132)

(132)

At end of period

285,643

285,643

Terms of loans from related parties

Shareholders loan, interest free with repayment date not specified.