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REGISTERED NUMBER: SC056160 (Scotland)













Unaudited Financial Statements

for the Year Ended 5 April 2024

for

Italian Consulting Company Limited

Italian Consulting Company Limited (Registered number: SC056160)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Italian Consulting Company Limited

Company Information
for the Year Ended 5 April 2024







DIRECTORS: H M Clark
Mrs A Van Zyl





SECRETARY: Mrs A Van Zyl





REGISTERED OFFICE: Flat 3 Coodham House
Symington
Ayrshire
KA1 5SJ





REGISTERED NUMBER: SC056160 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Italian Consulting Company Limited (Registered number: SC056160)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 560 36
Investments 5 33,288 33,288
33,848 33,324

CURRENT ASSETS
Debtors 6 53,507 79,487
Investments 7 258,767 260,206
Cash at bank 38,166 17,744
350,440 357,437
CREDITORS
Amounts falling due within one year 8 8,136 8,160
NET CURRENT ASSETS 342,304 349,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

376,152

382,601

CAPITAL AND RESERVES
Called up share capital 660 660
Retained earnings 375,492 381,941
SHAREHOLDERS' FUNDS 376,152 382,601

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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.

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 24 July 2024 and were signed on its behalf by:




H M Clark - Director


Italian Consulting Company Limited (Registered number: SC056160)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Italian Consulting Company Limited is a private company, limited by shares , registered in Scotland. 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 20% on cost

Financial instruments
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.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method.

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 (2023 - 2 ) .

Italian Consulting Company Limited (Registered number: SC056160)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2023 6,484
Additions 700
At 5 April 2024 7,184
DEPRECIATION
At 6 April 2023 6,448
Charge for year 176
At 5 April 2024 6,624
NET BOOK VALUE
At 5 April 2024 560
At 5 April 2023 36

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
5.4.24 5.4.23
£    £   
Other 33,288 33,288

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Other debtors 53,507 79,487

7. CURRENT ASSET INVESTMENTS
5.4.24 5.4.23
£    £   
Listed investments 258,767 260,206

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Taxation and social security 5,216 5,216
Other creditors 2,920 2,944
8,136 8,160

Italian Consulting Company Limited (Registered number: SC056160)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 5 April 2024 and 5 April 2023:

5.4.24 5.4.23
£    £   
H M Clark
Balance outstanding at start of year 64,419 62,419
Amounts advanced 57,000 30,000
Amounts repaid (82,942 ) (28,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,477 64,419

Mrs A Van Zyl
Balance outstanding at start of year (496 ) (454 )
Amounts repaid (38 ) (42 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (534 ) (496 )

The maximum balance due to the company by H M Clark during the year was £76,419 (2023 £77,418). The amount due is interest free and has no fixed repayment date.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £25,038 were paid to the directors .

11. ULTIMATE CONTROLLING PARTY

H M Clark is the ultimate controlling party of Italian Consulting Company Limited by virtue of his 659 ordinary £1 shares held of the 660 ordinary £1 shares of the company.