Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalse2022-11-0111truetruefalse 11650492 2022-11-01 2023-10-31 11650492 2021-11-01 2022-10-31 11650492 2023-10-31 11650492 2022-10-31 11650492 c:Director1 2022-11-01 2023-10-31 11650492 d:MotorVehicles 2022-11-01 2023-10-31 11650492 d:MotorVehicles 2023-10-31 11650492 d:MotorVehicles 2022-10-31 11650492 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11650492 d:OfficeEquipment 2022-11-01 2023-10-31 11650492 d:OfficeEquipment 2023-10-31 11650492 d:OfficeEquipment 2022-10-31 11650492 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11650492 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11650492 d:CurrentFinancialInstruments 2023-10-31 11650492 d:CurrentFinancialInstruments 2022-10-31 11650492 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11650492 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11650492 d:ShareCapital 2023-10-31 11650492 d:ShareCapital 2022-10-31 11650492 d:RetainedEarningsAccumulatedLosses 2023-10-31 11650492 d:RetainedEarningsAccumulatedLosses 2022-10-31 11650492 c:OrdinaryShareClass1 2022-11-01 2023-10-31 11650492 c:OrdinaryShareClass1 2023-10-31 11650492 c:OrdinaryShareClass1 2022-10-31 11650492 c:FRS102 2022-11-01 2023-10-31 11650492 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11650492 c:FullAccounts 2022-11-01 2023-10-31 11650492 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11650492 6 2022-11-01 2023-10-31 11650492 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11650492









FRANCESCO PAOLINI LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
FRANCESCO PAOLINI LIMITED
REGISTERED NUMBER: 11650492

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,299
14,443

Investments
 5 
8,598
8,598

  
19,897
23,041

Current assets
  

Stocks
  
199,471
92,881

Debtors: amounts falling due within one year
 6 
468,293
189,533

Cash at bank and in hand
  
803,165
538,952

  
1,470,929
821,366

Creditors: amounts falling due within one year
 7 
(278,351)
(119,984)

Net current assets
  
 
 
1,192,578
 
 
701,382

Total assets less current liabilities
  
1,212,475
724,423

  

Net assets
  
1,212,475
724,423


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,212,375
724,323

  
1,212,475
724,423


Page 1

 
FRANCESCO PAOLINI LIMITED
REGISTERED NUMBER: 11650492
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of comprehensive income 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: 




F Paolini
Director

Date: 30 July 2024

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

Page 2

 
FRANCESCO PAOLINI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Francesco Paolini Limited is a private company limited by shares and incorporated in England & Wales (registered number 11650492). The registered office is 101 New Cavendish Street, London, W1W 6XH.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

Page 3

 
FRANCESCO PAOLINI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.6

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.

 
2.7

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.

Page 4

 
FRANCESCO PAOLINI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 November 2022
6,339
11,481
17,820


Additions
-
534
534



At 31 October 2023

6,339
12,015
18,354



Depreciation


At 1 November 2022
2,190
1,189
3,379


Charge for the year on owned assets
1,038
2,638
3,676



At 31 October 2023

3,228
3,827
7,055



Net book value



At 31 October 2023
3,111
8,188
11,299




The net book value of land and buildings may be further analysed as follows:





Page 5

 
FRANCESCO PAOLINI LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2022
8,598



At 31 October 2023
8,598





6.


Debtors

2023
2022
£
£


Trade debtors
153,983
-

Amounts owed by group undertakings
311,118
189,533

Other debtors
3,192
-

468,293
189,533



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
183,880
55,265

Other taxation and social security
81,196
15,731

Other creditors
8,275
43,988

Accruals and deferred income
5,000
5,000

278,351
119,984



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 6

 
FRANCESCO PAOLINI LIMITED
 
 
 Page 7