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COMPANY REGISTRATION NUMBER: 00415903
C. Aiano and Sons, Limited
Filleted Unaudited Financial Statements
31 December 2021
C. Aiano and Sons, Limited
Balance Sheet
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Intangible assets
5
346,356
384,840
Tangible assets
6
313,406
317,602
----------
----------
659,762
702,442
Current assets
Stocks
199,164
210,123
Debtors
7
371,989
449,270
Cash at bank and in hand
6,677
4,976
----------
----------
577,830
664,369
Creditors: amounts falling due within one year
8
( 345,732)
( 329,490)
----------
----------
Net current assets
232,098
334,879
----------
-------------
Total assets less current liabilities
891,860
1,037,321
Creditors: amounts falling due after more than one year
9
( 540,640)
( 573,252)
----------
-------------
Net assets
351,220
464,069
----------
-------------
Capital and reserves
Called up share capital
2,000
2,000
Revaluation reserve
464,041
464,041
Capital redemption reserve
7,462
7,462
Profit and loss account
( 122,283)
( 9,434)
----------
----------
Shareholders funds
351,220
464,069
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2021 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
C. Aiano and Sons, Limited
Balance Sheet (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 5 August 2024 , and are signed on behalf of the board by:
Mr A S Zilberstein
Director
Company registration number: 00415903
C. Aiano and Sons, Limited
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 64/70 Chrisp Street, London, E14 6LR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website development
-
10% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
All fixed assets are initially recorded at cost. The company's leasehold property is included in the balance sheet at the directors' valuation. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant & Machinery - 25% Reducing balance method Fixtures & Fittings - 15% Reducing balance method Motor Vehicles - 25% Reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2020: 10 ).
5. Intangible assets
Development costs
£
Cost
At 1 January 2021 and 31 December 2021
521,410
----------
Amortisation
At 1 January 2021
136,570
Charge for the year
38,484
----------
At 31 December 2021
175,054
----------
Carrying amount
At 31 December 2021
346,356
----------
At 31 December 2020
384,840
----------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Fair value
At 1 January 2021 and 31 December 2021
307,014
46,246
11,200
25,980
390,440
----------
---------
---------
---------
----------
Depreciation
At 1 January 2021
7,014
38,817
9,151
17,856
72,838
Charge for the year
1,857
308
2,031
4,196
----------
---------
---------
---------
----------
At 31 December 2021
7,014
40,674
9,459
19,887
77,034
----------
---------
---------
---------
----------
Carrying amount
At 31 December 2021
300,000
5,572
1,741
6,093
313,406
----------
---------
---------
---------
----------
At 31 December 2020
300,000
7,429
2,049
8,124
317,602
----------
---------
---------
---------
----------
7. Debtors
2021
2020
£
£
Trade debtors
371,982
445,807
Other debtors
7
3,463
----------
----------
371,989
449,270
----------
----------
8. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
74,742
67,249
Trade creditors
31,396
40,220
Social security and other taxes
166,980
141,231
Other creditors
72,614
80,790
----------
----------
345,732
329,490
----------
----------
9. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
26,312
Trade creditors
533,311
539,611
Other creditors
7,329
7,329
----------
----------
540,640
573,252
----------
----------
10. Related party transactions
The company is under the control of Mr and Mrs A Zilberstein (directors of the company) by virtue of their joint majority shareholding in the company. Trade Debtors include £14,567 (2020: £14,567) and £237,009 (2020: £291,142) due from Solid Gold Developments Limited and MS Guardio Limited respectively, companies incorporated in England & Wales, of which Mr & Mrs Zilberstein are the directors. Trade Creditors due in more than one year relates to Symmetric Quorum Limited, a company incorporated in England & Wales, of which Mr & Mrs Zilberstein are the directors. Consultancy fees paid in the year consist of amounts charged to the company at a market rate by entities of which Mr & Mrs Zilberstein are directors.