My Private Villas Ltd 07845120 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of letting villas and similar properties and ancillary services Digita Accounts Production Advanced 6.30.9574.0 true 07845120 2022-12-01 2023-11-30 07845120 2023-11-30 07845120 bus:OrdinaryShareClass1 2023-11-30 07845120 core:CurrentFinancialInstruments 2023-11-30 07845120 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 07845120 core:Non-currentFinancialInstruments 2023-11-30 07845120 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 07845120 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-30 07845120 core:OfficeEquipment 2023-11-30 07845120 core:PlantMachinery 2023-11-30 07845120 1 2023-11-30 07845120 bus:SmallEntities 2022-12-01 2023-11-30 07845120 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07845120 bus:FullAccounts 2022-12-01 2023-11-30 07845120 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07845120 bus:RegisteredOffice 2022-12-01 2023-11-30 07845120 bus:Director1 2022-12-01 2023-11-30 07845120 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 07845120 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07845120 1 2022-12-01 2023-11-30 07845120 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-01 2023-11-30 07845120 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 1 2022-12-01 2023-11-30 07845120 core:IntangibleExplorationEvaluationAssets 2022-12-01 2023-11-30 07845120 core:OfficeEquipment 2022-12-01 2023-11-30 07845120 core:PlantMachinery 2022-12-01 2023-11-30 07845120 core:KeyManagementPersonnel 2022-12-01 2023-11-30 07845120 1 2022-12-01 2023-11-30 07845120 countries:EnglandWales 2022-12-01 2023-11-30 07845120 2022-11-30 07845120 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-30 07845120 core:OfficeEquipment 2022-11-30 07845120 core:PlantMachinery 2022-11-30 07845120 2021-12-01 2022-11-30 07845120 2022-11-30 07845120 bus:OrdinaryShareClass1 2022-11-30 07845120 core:CurrentFinancialInstruments 2022-11-30 07845120 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 07845120 core:Non-currentFinancialInstruments 2022-11-30 07845120 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 07845120 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-30 07845120 core:OfficeEquipment 2022-11-30 07845120 core:PlantMachinery 2022-11-30 07845120 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-30 07845120 1 2022-11-30 07845120 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 07845120 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-12-01 2022-11-30 07845120 2021-11-30 07845120 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07845120

My Private Villas Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

My Private Villas Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

My Private Villas Ltd

(Registration number: 07845120)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

72,267

74,513

Tangible assets

5

39,919

14,131

 

112,186

88,644

Current assets

 

Debtors

6

46,356

94,090

Cash at bank and in hand

 

311,576

427,923

 

357,932

522,013

Creditors: Amounts falling due within one year

7

(7,118)

(50,713)

Net current assets

 

350,814

471,300

Total assets less current liabilities

 

463,000

559,944

Creditors: Amounts falling due after more than one year

7

(130,289)

(164,284)

Net assets

 

332,711

395,660

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

332,611

395,560

Shareholders' funds

 

332,711

395,660

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 August 2024
 

 

My Private Villas Ltd

(Registration number: 07845120)
Balance Sheet as at 30 November 2023

.........................................
Mr P Macchiaroli
Director

   
     
 

My Private Villas Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7b Balham Groove
London SW12 8AZ
UK

These financial statements were authorised for issue by the director on 22 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

My Private Villas Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction
over their estimated useful lives, as follows:

Asset class
Office Equipment

Depreciation method and rate
33.33% straight line basis
 

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible assets

14% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

My Private Villas Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 5).

 

My Private Villas Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 December 2022

84,582

84,582

Additions internally developed

10,004

10,004

At 30 November 2023

94,586

94,586

Amortisation

At 1 December 2022

10,069

10,069

Amortisation charge

12,250

12,250

At 30 November 2023

22,319

22,319

Carrying amount

At 30 November 2023

72,267

72,267

At 30 November 2022

74,513

74,513

5

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

12,032

46,143

58,175

Additions

29,498

2,645

32,143

At 30 November 2023

41,530

48,788

90,318

Depreciation

At 1 December 2022

125

43,919

44,044

Charge for the year

4,037

2,318

6,355

At 30 November 2023

4,162

46,237

50,399

Carrying amount

At 30 November 2023

37,368

2,551

39,919

At 30 November 2022

11,907

2,224

14,131

 

My Private Villas Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Debtors

Current

2023
£

2022
£

Prepayments

45,890

93,627

Other debtors

466

463

 

My Private Villas Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

215

44,998

Accruals and deferred income

4,500

3,800

Other creditors

2,403

1,915

7,118

50,713

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

130,289

164,284

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.01 (2022 - £1) each

10,000

100

100

100

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

130,289

164,284

Bank borrowings

Coronavirus business interruption loan is denominated in £ with a nominal interest rate of 4.85%, and the final instalment is due on 7 June 2026. The carrying amount at year end is £130,289 (2022 - £164,284).

 

My Private Villas Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £7.50 (2022 - £200.00) per each Ordinary

 

75,000

 

20,000

         

11

Related party transactions

Loans to related parties

2022

Key management
£

Total
£

At start of period

100,000

100,000

Repaid

(100,000)

(100,000)

At end of period

-

-

Terms of loans to related parties

During the year ended 30.11.2021 the company made a loan to the director for £100,000 . The loan was interest free and repaid fully in 2022.