REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2022 TO 30 DECEMBER 2022 |
FOR |
I&F CORPORATION LTD |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2022 TO 30 DECEMBER 2022 |
FOR |
I&F CORPORATION LTD |
I&F CORPORATION LTD (REGISTERED NUMBER: 08892928) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
I&F CORPORATION LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
I&F CORPORATION LTD (REGISTERED NUMBER: 08892928) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
30 DECEMBER 2022 |
2022 | 2021 |
Notes | € | € | € | € |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
I&F CORPORATION LTD (REGISTERED NUMBER: 08892928) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
30 DECEMBER 2022 |
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 |
I&F CORPORATION LTD (REGISTERED NUMBER: 08892928) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
I&F Corporation Ltd is a |
The presentation currency of the financial statements is the Euro (€). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about I&F Corporation Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
I&F CORPORATION LTD (REGISTERED NUMBER: 08892928) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Totals |
€ |
COST |
At 1 January 2022 |
and 30 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for period |
At 30 December 2022 |
NET BOOK VALUE |
At 30 December 2022 |
At 31 December 2021 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
€ |
COST |
At 1 January 2022 |
and 30 December 2022 | 20,802 |
NET BOOK VALUE |
At 30 December 2022 | 20,802 |
At 31 December 2021 | 20,802 |
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Registered office: Italy |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Spain |
Nature of business: |
% |
Class of shares: | holding |
I&F CORPORATION LTD (REGISTERED NUMBER: 08892928) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | € | € |
Ordinary | Euro 10 | 1,000 | 1,000 |
8. | RELATED PARTY DISCLOSURES |
Included in Amounts owed by group undertakings is a loan of €75,950 (2021 - €75,950) which was advanced to the subsidiary company, 4U SRL as well as €2,600 (2021 - €2,600) advanced to subsidiary company Dabth 33 SL. The loans are interest free and repayable on demand. |
9. | ULTIMATE CONTROLLING PARTY |
The Ultimate controlling party is not one single party. The company is controlled by the ultimate beneficial owners Mr Ivan Poletti and the Estate of Mr Fabrizio Critelli together with close members of their family, who between them own the issued share capital of the company. |