2022-12-142023-12-312023-12-31false14540596ITALIAN CONCEPT 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ITALIAN CONCEPT LIMITED

Registered Number
14540596
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

ITALIAN CONCEPT LIMITED
Company Information
for the period from 14 December 2022 to 31 December 2023

Directors

CARLISI, Alessio
CARLISI, Federico

Registered Address

C/O Venture Finance Management, Suite 101
Cotton Exchange, Old Hall Street
Liverpool
L3 9LQ

Registered Number

14540596 (England and Wales)
ITALIAN CONCEPT LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

£

£

Fixed assets
Tangible assets328,271
28,271
Current assets
Debtors50,630
Cash at bank and on hand133,473
184,103
Creditors amounts falling due within one year(184,862)
Net current assets (liabilities)(759)
Total assets less current liabilities27,512
Net assets27,512
Capital and reserves
Called up share capital2
Profit and loss account27,510
Shareholders' funds27,512
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
CARLISI, Alessio
Director
Registered Company No. 14540596
ITALIAN CONCEPT LIMITED
Notes to the Financial Statements
for the period ended 31 December 2023

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
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings5-
2.Average number of employees

2023
Average number of employees during the year18
3.Tangible fixed assets

Total

£
Cost or valuation
Additions35,338
At 31 December 2335,338
Depreciation and impairment
Charge for year7,067
At 31 December 237,067
Net book value
At 31 December 2328,271
At 13 December 22-
4.Related party transactions
At the year end, Italian Concept LTD owed another Company under common control £81,500. This loan is interest free and repayable on demand.