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REGISTERED NUMBER: 09561060 (England and Wales)







Unaudited Financial Statements for the Year Ended 30 April 2023

for

Grande Veloce Innovations Limited

Grande Veloce Innovations Limited (Registered number: 09561060)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grande Veloce Innovations Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr D N R Clark
Mr A Clare





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 09561060 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Grande Veloce Innovations Limited (Registered number: 09561060)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,674 56,119
Investments 5 580 580
52,254 56,699

CURRENT ASSETS
Debtors 6 3,348 21,880
Cash at bank 15,929 30,116
19,277 51,996
CREDITORS
Amounts falling due within one year 7 9,891 64,341
NET CURRENT ASSETS/(LIABILITIES) 9,386 (12,345 )
TOTAL ASSETS LESS CURRENT LIABILITIES 61,640 44,354

CREDITORS
Amounts falling due after more than one year 8 (7,197 ) (10,400 )

PROVISIONS FOR LIABILITIES (10,164 ) (10,663 )
NET ASSETS 44,279 23,291

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 44,179 23,191
SHAREHOLDERS' FUNDS 44,279 23,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Grande Veloce Innovations Limited (Registered number: 09561060)

Balance Sheet - continued
30 April 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 29 February 2024 and were signed on its behalf by:





Mr D N R Clark - Director


Grande Veloce Innovations Limited (Registered number: 09561060)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Grande Veloce Innovations 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Grande Veloce Innovations Limited (Registered number: 09561060)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022 - 57,090 15,153 72,243
Additions 860 - 12,585 13,445
Disposals - - (6,138 ) (6,138 )
At 30 April 2023 860 57,090 21,600 79,550
DEPRECIATION
At 1 May 2022 - 3,568 12,556 16,124
Charge for year 191 13,381 4,318 17,890
Eliminated on disposal - - (6,138 ) (6,138 )
At 30 April 2023 191 16,949 10,736 27,876
NET BOOK VALUE
At 30 April 2023 669 40,141 10,864 51,674
At 30 April 2022 - 53,522 2,597 56,119

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2022
and 30 April 2023 580
NET BOOK VALUE
At 30 April 2023 580
At 30 April 2022 580

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors - 8,568
Amounts owed by group undertakings 1,272 7,865
Tax 1,940 1,940
Prepayments and accrued income 136 3,507
3,348 21,880

Grande Veloce Innovations Limited (Registered number: 09561060)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 3,199 3,200
Amounts owed to group undertakings 3,839 343
Tax 155 -
Social security and other taxes (5,495 ) (740 )
VAT 255 2,250
Other creditors - 207
Directors' current accounts 6,398 57,731
Accrued expenses 1,540 1,350
9,891 64,341

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans - 1-2 years 3,199 3,200
Bank loans - 2-5 years 3,998 7,200
7,197 10,400

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
1,000 Ordinary shares £0.1 100 100

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D N R Clark.