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Registration number: 03684302

Societa Agricola Le Prunee Srl Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Societa Agricola Le Prunee Srl Ltd

Contents

Company Information

1

Director's Report

2

Abridged Statement of Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Societa Agricola Le Prunee Srl Ltd

Company Information

Director

Pierangelo Tommasi

Registered office

12 Bridewell Place
3rd Floor, East Unit
London
EC4V 6AP

 

Societa Agricola Le Prunee Srl Ltd

Director's Report for the Year Ended 31 December 2023

The director presents his report and the abridged financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

Pierangelo Tommasi

Principal activity

The principal activity of the company is that of an investment company. The sole investment is placed in Italy.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 19 September 2024
 

.........................................
Pierangelo Tommasi
Director

 

Societa Agricola Le Prunee Srl Ltd

(Registration number: 03684302)
Abridged Statement of Financial Position as at 31 December 2023

Note

2023

2022

Fixed assets

 

Investment property

4,957,986

4,957,986

Current assets

 

Debtors

1,161,981

1,094,752

Cash at bank and in hand

 

8,064

7,855

 

1,170,045

1,102,607

Creditors: Amounts falling due within one year

(8,315)

(6,448)

Net current assets

 

1,161,730

1,096,159

Net assets

 

6,119,716

6,054,145

Capital and reserves

 

Called up share capital

100,000

100,000

Capital redemption reserve

4,859,049

4,859,049

Legal reserve

20,000

20,000

Other reserves

105,928

105,928

Retained earnings

1,034,739

969,168

Shareholders' funds

 

6,119,716

6,054,145

For the financial 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.

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.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 19 September 2024
 

.........................................
Pierangelo Tommasi
Director

 

Societa Agricola Le Prunee Srl Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital

Capital redemption reserve

Legal reserve

Other reserves

Profit and loss account

Total

At 1 January 2023

100,000

4,859,049

20,000

105,928

969,168

6,054,145

Profit for the year

-

-

-

-

65,571

65,571

Total comprehensive income

-

-

-

-

65,571

65,571

At 31 December 2023

100,000

4,859,049

20,000

105,928

1,034,739

6,119,716

Share capital

Capital redemption reserve

Legal reserve

Other reserves

Profit and loss account

Total

At 1 January 2022

100,000

4,859,049

20,000

105,928

891,155

5,976,132

Profit for the year

-

-

-

-

78,013

78,013

Total comprehensive income

-

-

-

-

78,013

78,013

At 31 December 2022

100,000

4,859,049

20,000

105,928

969,168

6,054,145

 

Societa Agricola Le Prunee Srl Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 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:
12 Bridewell Place
3rd Floor, East Unit
London
EC4V 6AP

These financial statements were authorised for issue by the director on 19 September 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 abridged 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 abridged 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.

Other information

Since 2004, the Company has transferred the headquarters of administration and control to Italy, becoming a company governed by Italian law with administrative headquarters and tax residence in Italy. The company has
only kept its registered office in England, since English law does not allow transferring the Company abroad.

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.

 

Societa Agricola Le Prunee Srl Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current 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.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Societa Agricola Le Prunee Srl Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 31 December 2023

Investment properties

2023

At 1 January

4,957,986

There has been no valuation of investment property by an independent valuer.

 

Societa Agricola Le Prunee Srl Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Related party transactions

Summary of transactions with other related parties

The transactions with the related party, Società Semplice Agricola Tommasi Viticoltori s.s. in the sum of €105,000 (2022 - €105,000) and Tommasi viticoltori di Tommasi P.S.G.E.P. in the sum of €2,000 (2022: €2,000) have been conducted in the normal course of business.