Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08583471 Mrs Patrizia Biagini Mrs Patrizia Biagini true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08583471 2022-12-31 08583471 2023-12-31 08583471 2023-01-01 2023-12-31 08583471 frs-core:CurrentFinancialInstruments 2023-12-31 08583471 frs-core:Non-currentFinancialInstruments 2023-12-31 08583471 frs-core:ShareCapital 2023-12-31 08583471 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08583471 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08583471 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08583471 frs-bus:SmallEntities 2023-01-01 2023-12-31 08583471 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08583471 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08583471 1 2023-01-01 2023-12-31 08583471 frs-core:ListedExchangeTraded 2023-12-31 08583471 frs-core:ListedExchangeTraded 2022-12-31 08583471 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-12-31 08583471 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 08583471 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 08583471 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 08583471 frs-bus:Director1 2023-01-01 2023-12-31 08583471 frs-bus:Director1 2022-12-31 08583471 frs-bus:Director1 2023-12-31 08583471 frs-countries:EnglandWales 2023-01-01 2023-12-31 08583471 2021-12-31 08583471 2022-12-31 08583471 2022-01-01 2022-12-31 08583471 frs-core:CurrentFinancialInstruments 2022-12-31 08583471 frs-core:Non-currentFinancialInstruments 2022-12-31 08583471 frs-core:ShareCapital 2022-12-31 08583471 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08583471
Giannetti Logistic System Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08583471
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 283,275 283,275
283,275 283,275
CURRENT ASSETS
Debtors 5 88,839 75,485
Cash at bank and in hand 9,039 67,609
97,878 143,094
Creditors: Amounts Falling Due Within One Year 6 (266,801 ) (308,463 )
NET CURRENT ASSETS (LIABILITIES) (168,923 ) (165,369 )
TOTAL ASSETS LESS CURRENT LIABILITIES 114,352 117,906
Creditors: Amounts Falling Due After More Than One Year 7 - (22,472 )
NET ASSETS 114,352 95,434
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account 104,352 85,434
SHAREHOLDERS' FUNDS 114,352 95,434
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Patrizia Biagini
Director
18/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Giannetti Logistic System Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08583471 . The registered office is 19 The Circle , Queen Elizabeth Street, London, SE1 2JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was :  NIL (2022: NIL)
- -
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4. Investments
Listed
£
Cost
As at 1 January 2023 283,275
As at 31 December 2023 283,275
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 283,275
As at 1 January 2023 283,275
Investments represents 100% shareholding of Giannetti Logistic System Srl, a company incorporated in Italy.
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 38,590 31,781
Other debtors 49,611 43,524
VAT 638 180
88,839 75,485
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 5,100
Corporation tax 4,438 5,078
Loans 259,930 295,852
Director's loan account 2,433 2,433
266,801 308,463
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Loan - GLS Srl Italy - 22,472
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
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9. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mrs Patrizia Biagini 2,433 - - - 2,433
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
During the period, the company made sales to Giannetti Logistic System Srl, a company incorporated in Italy and 100% owned by Giannetti Logistic System Ltd for £36,444 (2022: £39,985) The total amount outstanding as at 31st December 2023 is £38,590 (2022: £ 31,781) is included in trade debtors note no 5 above.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mrs Patrizia Biagini by virtue of his ownership of 75% or more of the issued share capital in the company.
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