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Registration number: 14257037

PINEIDER UK LTD

UnauditedFilleted Financial Statements

for the Period from 26 July 2022 to 31 December 2023

 

PINEIDER UK LTD

Contents

Company Information

1

Directors' Report

2

Statement of Comprehensive Income

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 9

 

PINEIDER UK LTD

Company Information

Directors

C.A.M Limonta

F.R.M Rovagnati

L.A.M Rovagnati

Registered office

5th Floor, North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ

 

PINEIDER UK LTD

Directors' Report for the Period from 26 July 2022 to 31 December 2023

The directors present their report and the financial statements for the period from 26 July 2022 to 31 December 2023.

Incorporation

The company was incorporated on 26 July 2022.

Directors of the company

The directors who held office during the period were as follows:

C.A.M Limonta (appointed 26 July 2022)

F.R.M Rovagnati (appointed 26 July 2022)

L.A.M Rovagnati (appointed 26 July 2022)

Principal activity

The principal activity of the company is sale of luxury leather goods and stationaries.

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 and authorised by the Board on 18 April 2024 and signed on its behalf by:
 

.........................................
C.A.M Limonta
Director

 

PINEIDER UK LTD

Statement of Comprehensive Income for the Period from 26 July 2022 to 31 December 2023

2023
£

Loss for the period

(539,821)

Total comprehensive income for the period

(539,821)

 

PINEIDER UK LTD

(Registration number: 14257037)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

389,470

Debtors

6

90,000

 

479,470

Current assets

 

Stocks

5

379,957

Debtors

6

72,990

Cash at bank and in hand

 

73,862

 

526,809

Creditors: Amounts falling due within one year

7

(737,262)

Net current liabilities

 

(210,453)

Total assets less current liabilities

 

269,017

Creditors: Amounts falling due after more than one year

7

(268,017)

Net assets

 

1,000

Capital and reserves

 

Called up share capital

8

540,821

Retained earnings

(539,821)

Shareholders' funds

 

1,000

For the financial period ending 31 December 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 April 2024 and signed on its behalf by:
 

 

PINEIDER UK LTD

(Registration number: 14257037)
Balance Sheet as at 31 December 2023

.........................................
C.A.M Limonta
Director

 

PINEIDER UK LTD

Notes to the Unaudited Financial Statements for the Period from 26 July 2022 to 31 December 2023

1

General information

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

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ
United Kingdom

These financial statements were authorised for issue by the Board on 18 April 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

PINEIDER UK LTD

Notes to the Unaudited Financial Statements for the Period from 26 July 2022 to 31 December 2023

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

Leasehold Land and buidings

over the remaining term of the lease on a straight line basis

Fixtures and fittings

20% straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

PINEIDER UK LTD

Notes to the Unaudited Financial Statements for the Period from 26 July 2022 to 31 December 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Tangible assets

Long leasehold land and buildings
£

Other tangible assets
 £

Total
£

Cost or valuation

Additions

202,824

252,486

455,310

At 31 December 2023

202,824

252,486

455,310

Depreciation

Charge for the period

19,845

45,995

65,840

At 31 December 2023

19,845

45,995

65,840

Carrying amount

At 31 December 2023

182,979

206,491

389,470

Included within the net book value of land and buildings above is £182,979 in respect of long leasehold land and buildings.
 

5

Stocks

2023
£

Finished goods and goods for resale

379,957

 

PINEIDER UK LTD

Notes to the Unaudited Financial Statements for the Period from 26 July 2022 to 31 December 2023

6

Debtors

Current

2023
£

Trade debtors

548

Prepayments

71,442

Other debtors

1,000

 

72,990

Non-current

2023
£

Other debtors

90,000

 

90,000

7

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

554,868

Taxation and social security

30,976

Accruals and deferred income

141,769

Other creditors

9,649

737,262

Creditors: amounts falling due after more than one year

2023
£

Due after one year

Other non-current financial liabilities

268,017

8

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary share of £1 each

540,821

540,821