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REGISTERED NUMBER: 04965731 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Cibosano Limited

Cibosano Limited (Registered number: 04965731)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cibosano Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr T Castiglione
Mrs L F Castiglione





SECRETARY: Ms C S Frendo





REGISTERED OFFICE: Unit 4, I.O. Centre
Lea Road
Waltham Cross
Hertfordshire
EN9 1AS





REGISTERED NUMBER: 04965731 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Cibosano Limited (Registered number: 04965731)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 5,000
Tangible assets 5 358,463 165,926
358,463 170,926

CURRENT ASSETS
Stocks 6 672,930 595,845
Debtors 7 1,041,672 866,992
Cash at bank 444,446 307,993
2,159,048 1,770,830
CREDITORS
Amounts falling due within one year 8 1,376,948 1,244,197
NET CURRENT ASSETS 782,100 526,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,140,563

697,559

CREDITORS
Amounts falling due after more than one year 9 (279,540 ) (159,660 )

PROVISIONS FOR LIABILITIES 10 (68,345 ) (31,526 )
NET ASSETS 792,678 506,373

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 792,578 506,273
SHAREHOLDERS' FUNDS 792,678 506,373

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Cibosano Limited (Registered number: 04965731)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





Mr T Castiglione - Director


Cibosano Limited (Registered number: 04965731)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Cibosano 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.

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 2019, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.


Cibosano Limited (Registered number: 04965731)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 25,001
AMORTISATION
At 1 June 2022 20,001
Amortisation for year 5,000
At 31 May 2023 25,001
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 5,000

Cibosano Limited (Registered number: 04965731)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 50,429 153,435 180,155 11,633 395,652
Additions 54,207 80,521 152,423 4,826 291,977
At 31 May 2023 104,636 233,956 332,578 16,459 687,629
DEPRECIATION
At 1 June 2022 15,129 77,233 129,294 8,070 229,726
Charge for year 13,426 31,344 50,820 3,850 99,440
At 31 May 2023 28,555 108,577 180,114 11,920 329,166
NET BOOK VALUE
At 31 May 2023 76,081 125,379 152,464 4,539 358,463
At 31 May 2022 35,300 76,202 50,861 3,563 165,926

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2022 180,155
Additions 152,423
At 31 May 2023 332,578
DEPRECIATION
At 1 June 2022 129,294
Charge for year 50,820
At 31 May 2023 180,114
NET BOOK VALUE
At 31 May 2023 152,464
At 31 May 2022 50,861

6. STOCKS
31.5.23 31.5.22
£    £   
Stocks 672,930 595,845

Cibosano Limited (Registered number: 04965731)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 979,304 852,234
Other debtors 62,368 14,758
1,041,672 866,992

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 75,000 51,787
Hire purchase contracts 27,497 20,957
Trade creditors 1,072,792 1,013,644
Taxation and social security 175,986 115,185
Other creditors 25,673 42,624
1,376,948 1,244,197

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 175,000 134,759
Hire purchase contracts 104,540 24,901
279,540 159,660

10. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 68,345 31,526

Deferred
tax
£   
Balance at 1 June 2022 31,526
Provided during year 36,819
Accelerated capital allowances
Balance at 31 May 2023 68,345

11. RELATED PARTY DISCLOSURES

The company is controlled by Mr T Castiglione and Mrs L Castiglione.