2022-01-012022-12-312022-12-31false11338636FIORUCCI LICENCING 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FIORUCCI LICENCING LIMITED

Registered Number
11338636
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

FIORUCCI LICENCING LIMITED
Company Information
for the year from 1 January 2022 to 31 December 2022

Directors

CAIRETA, José Riera
KHAN, Farhan
VILLAVERDE, Sagrario Maceira

Registered Address

Unit 1 Euro Park A5 Watling Street
Clifton Upon Dunsmore
Rugby
CV23 0AQ

Registered Number

11338636 (England and Wales)
FIORUCCI LICENCING LIMITED
Balance Sheet as at
31 December 2022

Notes

2022

2021

£

£

£

£

Current assets
Debtors613,589619,649
Cash at bank and on hand24018,987
613,829638,636
Creditors amounts falling due within one year(8,900)(3,600)
Net current assets (liabilities)604,929635,036
Total assets less current liabilities604,929635,036
Net assets604,929635,036
Capital and reserves
Profit and loss account604,929635,036
Shareholders' funds604,929635,036
The financial statements were approved and authorised for issue by the Board of Directors on 20 August 2024, and are signed on its behalf by:
KHAN, Farhan
Director
Registered Company No. 11338636
FIORUCCI LICENCING LIMITED
Notes to the Financial Statements
for the year ended 31 December 2022

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
These financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and the requirements of the Companies Act 2016 as applicable to companies subject to the small companies regime. 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 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 £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
The Tax expense represents the sum of the tax currently payable and deferred tax Current tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account as it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. .
Deferred tax
Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets recognised to the extent that it is probable that they will be recovered against reversal of deferred of deferred tax liabilities or other future taxable profits. Such as assets and liabilities are not recognised if the timing difference arises from goodwill or other initial recognition of other assets and liabilities in a transaction that neither affects tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or the asset is realised. Deferred tax is charged or credited in the profit and loss, except when it relates to items charged or credited to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Impairment of non-financial assets policy
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial instruments issues of FRS 102 to all its other financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and bank balances are initially measured at transaction price including transactions costs are are subsequently carried at amortised cost using effective interest method. Financial assets classified as receivable within one year are not amortised.
2.Average number of employees

20222021
Average number of employees during the year00