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Registration number: 06317229

1001 WINDS LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

1001 WINDS LIMITED

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 11

 

1001 WINDS LIMITED

Company Information

Director

Vincenzo Rosati

Company secretary

Woodford Services Limited

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

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

 

1001 WINDS LIMITED

Director's Report for the Year Ended 30 June 2023

The report and the financial statements for the year ended 30 June 2023.

Director of the company

The director who held office during the year was as follows:

Vincenzo Rosati

Principal activity

The principal activity of the company is that of an investment company.

Small companies provision statement

This report has 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.

Approved by the director on 13 February 2024 and signed on its behalf by:

.........................................
Vincenzo Rosati
Director

   
     
 

1001 WINDS LIMITED

Profit and Loss Account for the Year Ended 30 June 2023

Note

2023

2022

Turnover

 

-

-

Gross profit/(loss)

 

-

-

Administrative expenses

 

(1,297)

(879)

Operating loss

 

(1,297)

(879)

Other interest receivable and similar income

 

10,480

10,480

Profit before tax

9,183

9,601

Tax on profit

 

(1,745)

(1,824)

Profit for the financial year

 

7,438

7,777

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

1001 WINDS LIMITED

Statement of Comprehensive Income for the Year Ended 30 June 2023

2023

2022

Profit for the year

7,438

7,777

Total comprehensive income for the year

7,438

7,777

 

1001 WINDS LIMITED

(Registration number: 06317229)
Balance Sheet as at 30 June 2023

Note

2023

2022

Fixed assets

 

Investments

4

250,000

250,000

Current assets

 

Debtors

5

267,493

257,013

Cash at bank and in hand

 

126

126

 

267,619

257,139

Creditors: Amounts falling due within one year

6

(415,412)

(412,370)

Net current liabilities

 

(147,793)

(155,231)

Net assets

 

102,207

94,769

Capital and reserves

 

Called up share capital

7

126

126

Retained earnings

102,081

94,643

Shareholders' funds

 

102,207

94,769

For the financial year ending 30 June 2023 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 his 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.

Approved and authorised by the director on 13 February 2024
 

.........................................
Vincenzo Rosati
Director

 

1001 WINDS LIMITED

Statement of Changes in Equity for the Year Ended 30 June 2023

Share capital

Retained earnings

Total

At 1 July 2022

126

94,643

94,769

Profit for the year

-

7,438

7,438

At 30 June 2023

126

102,081

102,207

Share capital

Retained earnings

Total

At 1 July 2021

126

86,866

86,992

Profit for the year

-

7,777

7,777

At 30 June 2022

126

94,643

94,769

 

1001 WINDS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the director on 13 February 2024.

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.

Tax

The tax expense for the period comprises current 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

1001 WINDS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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 1 (2022 - 1).

4

Investments

2023

2022

Investments in subsidiaries

250,000

250,000

 

1001 WINDS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Subsidiaries

Cost or valuation

At 1 July 2022

250,000

Provision

Carrying amount

At 30 June 2023

250,000

At 30 June 2022

250,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

IEMME ROMANIA SRL

Str.CS Nicolaescu Plopsor
Nr.1, Bl.IPK, Sc.K, Ap8
Craiova
Dolj

ROMANIA

Ordinary

90%

90%

Subsidiary undertakings

IEMME ROMANIA SRL

The principal activity of IEMME ROMANIA SRL is that of trading in the property market.

5

Debtors

Note

2023

2022

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

266,552

256,072

Other debtors

 

941

941

 

267,493

257,013

 

1001 WINDS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

2023

2022

Due within one year

Taxation and social security

3,569

1,824

Accruals and deferred income

-

888

Other creditors

411,843

409,658

415,412

412,370

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

No.

Ordinary shares of €1 each

126

126

126

126

         

8

Related party transactions

Loans to related parties

2023

Subsidiary

Total

At start of period

256,072

256,072

Interest transactions

10,480

10,480

At end of period

266,552

266,552

2022

Subsidiary

Total

At start of period

245,592

245,592

Interest transactions

10,480

10,480

At end of period

256,072

256,072

Terms of loans to related parties

Interest rate applicable at 10% per year.
 

Loans from related parties

 

1001 WINDS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2023

Other related parties

Total

At start of period

355,000

355,000

Advanced

56,844

56,844

At end of period

411,844

411,844

2022

Other related parties

Total

At start of period

355,000

355,000

At end of period

355,000

355,000

Terms of loans from related parties

Shareholder loan, interest free with no repayment date unspecified.