Registered number
06751824
M & C VILLAS IN ITALY LTD
Filleted Accounts
30 November 2023
M & C VILLAS IN ITALY LTD
Registered number: 06751824
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 776 913
Current assets
Debtors 4 - 1,541
Cash at bank and in hand 54,454 61,022
54,454 62,563
Creditors: amounts falling due within one year 5 (30,475) (29,240)
Net current assets 23,979 33,323
Net assets 24,755 34,236
Capital and reserves
Called up share capital 2 2
Profit and loss account 24,753 34,234
Shareholder's funds 24,755 34,236
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms M P Rispoli
Director
Approved by the board on 10 February 2024
M & C VILLAS IN ITALY LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 3,340
At 30 November 2023 3,340
Depreciation
At 1 December 2022 2,427
Charge for the year 137
At 30 November 2023 2,564
Net book value
At 30 November 2023 776
At 30 November 2022 913
4 Debtors 2023 2022
£ £
Trade debtors - 1,541
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 913 913
Taxation and social security costs 3,416 1,443
Director's loan account 26,146 26,884
30,475 29,240
6 Other information
M & C VILLAS IN ITALY LTD is a private company limited by shares and incorporated in England. Its registered office is:
97 Fenners Marsh
Gravesend
Kent
DA12 2JH
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