Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-3126324383877677976362612628213932022-08-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08127494 2022-08-01 2023-07-31 08127494 2021-08-01 2022-07-31 08127494 2023-07-31 08127494 2022-07-31 08127494 c:Director1 2022-08-01 2023-07-31 08127494 d:Buildings d:ShortLeaseholdAssets 2022-08-01 2023-07-31 08127494 d:Buildings d:ShortLeaseholdAssets 2023-07-31 08127494 d:Buildings d:ShortLeaseholdAssets 2022-07-31 08127494 d:PlantMachinery 2022-08-01 2023-07-31 08127494 d:PlantMachinery 2023-07-31 08127494 d:PlantMachinery 2022-07-31 08127494 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08127494 d:ComputerEquipment 2022-08-01 2023-07-31 08127494 d:ComputerEquipment 2023-07-31 08127494 d:ComputerEquipment 2022-07-31 08127494 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08127494 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08127494 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08127494 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08127494 d:ShareCapital 2023-07-31 08127494 d:ShareCapital 2022-07-31 08127494 d:RetainedEarningsAccumulatedLosses 2023-07-31 08127494 d:RetainedEarningsAccumulatedLosses 2022-07-31 08127494 c:FRS102 2022-08-01 2023-07-31 08127494 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08127494 c:FullAccounts 2022-08-01 2023-07-31 08127494 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08127494 d:EntityControlledByKeyManagementPersonnel1 2022-08-01 2023-07-31 08127494 d:EntityControlledByKeyManagementPersonnel1 2021-08-01 2022-07-31 08127494 d:EntityControlledByKeyManagementPersonnel1 2023-07-31 08127494 d:EntityControlledByKeyManagementPersonnel1 2022-07-31 08127494 d:EntityControlledByKeyManagementPersonnel2 2022-08-01 2023-07-31 08127494 d:EntityControlledByKeyManagementPersonnel2 2021-08-01 2022-07-31 08127494 d:EntityControlledByKeyManagementPersonnel2 2023-07-31 08127494 d:EntityControlledByKeyManagementPersonnel2 2022-07-31 08127494 d:CloseFamilyMember1 2022-08-01 2023-07-31 08127494 d:CloseFamilyMember2 2022-08-01 2023-07-31 08127494 d:CloseFamilyMember3 2022-08-01 2023-07-31 08127494 d:CloseFamilyMember3 2021-08-01 2022-07-31 08127494 d:CloseFamilyMember2 2021-08-01 2022-07-31 08127494 d:CloseFamilyMember1 2021-08-01 2022-07-31 08127494 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-08-01 2022-07-31 08127494 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-01 2023-07-31 08127494 d:CloseFamilyMember1 2023-07-31 08127494 d:CloseFamilyMember2 2023-07-31 08127494 d:CloseFamilyMember3 2023-07-31 08127494 d:CloseFamilyMember2 2022-07-31 08127494 d:CloseFamilyMember3 2022-07-31 08127494 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-07-31 08127494 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-31 08127494 d:CloseFamilyMember1 2022-07-31 iso4217:GBP xbrli:pure

Registered number: 08127494










REPETTO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
REPETTO LIMITED
REGISTERED NUMBER: 08127494

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,118
1,920

  
3,118
1,920

Current assets
  

Debtors
  
94,822
621,932

Cash at bank and in hand
  
711,773
771,555

  
806,595
1,393,487

Creditors: amounts falling due within one year
  
(689,439)
(1,226,317)

Net current assets
  
 
 
117,156
 
 
167,170

Total assets less current liabilities
  
120,274
169,090

  

Net assets
  
120,274
169,090


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
120,273
169,089

  
120,274
169,090


Page 1

 
REPETTO LIMITED
REGISTERED NUMBER: 08127494
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Repetto
Director

Date: 7 March 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
REPETTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Repetto Limited is a private company limited by shares incorporated in England. The address of the registered company is Becket House, 36 Old Jewry, London, EC2R 8DD.
The principal activity of the company was that of buying and selling fine art work.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

  
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
REPETTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Improvement to property
-
50% straight line
Plant and machinery
-
25% straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
REPETTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Director
1
1


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2022
650
19,504
7,562
27,716


Additions
-
2,279
-
2,279



At 31 July 2023

650
21,783
7,562
29,995



Depreciation


At 1 August 2022
650
17,584
7,562
25,796


Charge for the year on owned assets
-
1,081
-
1,081



At 31 July 2023

650
18,665
7,562
26,877



Net book value



At 31 July 2023
-
3,118
-
3,118



At 31 July 2022
-
1,920
-
1,920

Page 5

 
REPETTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Transactions with directors

During the year, S Repetto, the director, invoiced the company £16,000 (2022: £10,992) for consultancy services. The company made artwork purchases of £10,324 (2022: £27,395) with S Repetto. At 31 July 2023, the company owed S Repetto £1,692 (2022: £1,692).


6.


Related party transactions

Purchases of £76,779 (2022: £637,111) and sales of £- (2022: £159,806) were made with Cornelia Fine Art Limited, a related company by virtue of common directorship. Cornelia Fine Art Limited invoiced the company £- (2022: £5,073) for consultancy services. At the year end Cornelia Fine Art Limited owed the company £- (2022: £-).
Purchases of £761,891 (2022: £1,004,495) and sales of £116,600 (2022: £2,264,173) were made with De Primi Fine Art SA, a related company by virtue of common directorship. De Primi Fine Art SA invoiced the company £1,735 (2022: £1,691) for renting office space. At the year end the company was owed £- (2022: £-) by De Primi Fine Art SA.
The company made payments of £2,000 (2022: £5,073) for consultancy services to A Repetto, S Repetto's father. At the year end the company owed £- (2022: £-) to A Repetto.
Sara Repetto, Mr S Repetto's daughter invoiced the company £10,628 (2022: £2,368) for artwork and £2,000 (2022: £19,025) for consultancy services. At 31 July 2023, the company owed Sara Repetto £- (2022: £-).
During the year, G Repetto, Mr S Repetto's daughter invoiced the company £10,628 (2022: £6,849) for artwork. At 31 July 2023, the company owed G Repetto £- (2022: £-).


7.


Controlling party

The immediate and ultimate controlling party is Barberis International, a company incorporated in Switzerland.

 
Page 6