Grande Fidele Company Limited 12782901 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true 12782901 2022-08-01 2023-07-31 12782901 2023-07-31 12782901 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12782901 bus:SmallEntities 2022-08-01 2023-07-31 12782901 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12782901 bus:AbridgedAccounts 2022-08-01 2023-07-31 12782901 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12782901 bus:RegisteredOffice 2022-08-01 2023-07-31 12782901 bus:Director1 2022-08-01 2023-07-31 12782901 bus:Director2 2022-08-01 2023-07-31 12782901 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12782901 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 12782901 core:OfficeEquipment 2022-08-01 2023-07-31 12782901 countries:EnglandWales 2022-08-01 2023-07-31 12782901 2021-08-01 2022-07-31 12782901 2022-07-31 12782901 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 12782901

Grande Fidele Company Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2023

 

Grande Fidele Company Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Grande Fidele Company Limited

Company Information

Directors

Mr C K Poon

Ms F B Cheng

Registered office

20-22 Wenlock Road
London
England
N1 7GU

Accountants

Tan Lam Partnership
Chartered Certified Accountants
1st Floor, 44 Worship Street
London
EC2A 2EA

 

Grande Fidele Company Limited

(Registration number: 12782901)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

1,148

1,582

Investment property

307,572

307,572

 

308,720

309,154

Prepayments and accrued income

 

160

27

Creditors: Amounts falling due within one year

(299,788)

(314,313)

Net current liabilities

 

(299,628)

(314,286)

Total assets less current liabilities

 

9,092

(5,132)

Accruals and deferred income

 

(1,703)

(1,080)

Net assets/(liabilities)

 

7,389

(6,212)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

7,387

(6,214)

Shareholders' funds/(deficit)

 

7,389

(6,212)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 

 

Grande Fidele Company Limited

(Registration number: 12782901)
Abridged Balance Sheet as at 31 July 2023

.........................................
Mr C K Poon
Director

 

Grande Fidele Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
20-22 Wenlock Road
London
England
N1 7GU

These financial statements were authorised for issue by the Board on 14 March 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 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.

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.

 

Grande Fidele Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

Tax

The tax expenses for the period comprises the current and deferred tax.

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.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.
A deferred tax liability or asset is recognised for the additional tax that will be paid or avoided in respect of assets and liabilities that are recognised in a business combination. The amount attributed to goodwill is adjusted by the amount of deferred tax recognised.

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.

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

Fitting and fixture

20% on cost

Office equipment

20% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Grande Fidele Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

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.

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 directors) during the year, was 2 (2022 - 2).