Campania Trading Limited
Registered number: 08679964
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 561 660
Investments 4 4,676,325 3,066,984
4,676,886 3,067,644
Current assets
Debtors 5 87,357 342,516
Cash at bank and in hand 703,738 682,816
791,095 1,025,332
Creditors: amounts falling due within one year 6 (26,463) (42,603)
Net current assets 764,632 982,729
Total assets less current liabilities 5,441,518 4,050,373
Provisions for liabilities (321,817) (65,872)
Net assets 5,119,701 3,984,501
Capital and reserves
Called up share capital 1,000 1,000
Share premium 1,499,001 1,499,001
Profit and loss account 9 3,619,700 2,484,500
Shareholders' funds 5,119,701 3,984,501
Average number of employees 2 2
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Novi
Director
Approved by the board on 6 June 2024
Campania Trading Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover consists of the gross rents received from the company's investment properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture 15% reducing balance
Investments
Investments in subsidiaries are shown at cost, less provision for impairment. Investment properties are revalued annually by either professional valuers, or by the director.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provision is made for the potential tax liability arising from the revaluation of the company's investment properties.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Furniture
£
Cost
At 1 February 2023 2,058
At 31 January 2024 2,058
Depreciation
At 1 February 2023 1,398
Charge for the year 99
At 31 January 2024 1,497
Net book value
At 31 January 2024 561
At 31 January 2023 660
4 Investments
Investments in Freehold &
subsidiary Leasehold
undertakings Properties Total
£ £ £
Cost
At 1 February 2023 500,000 2,566,984 3,066,984
Additions - 965,883 965,883
Revaluation 887,458 887,458
Disposals - (244,000) (244,000)
At 31 January 2024 500,000 4,176,325 4,676,325
The investment properties were valued at market value at 31st January 2024 by Molica
Franklin Ltd, Cousins Edmonton Ltd, estate agents, and OandO Real Estate, Almancil, Portugal.
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 83,189 186,490
Loan to director 2,763 114,000
Other debtors 1,405 42,026
87,357 342,516
6 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 24,712 18,463
Other creditors 1,751 24,140
26,463 42,603
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N Novi
Temporary loan 114,000 2,763 (114,000) 2,763
114,000 2,763 (114,000) 2,763
8 Taxation 2024 2023
£ £
Corporation tax 83,229 19,690
Foreign tax 10,650
Deferred tax on revaluation 255,945
349,824 19,690
9 Profit and loss account
Available for distribution 2,533,110
Investment property revaluation reserve 1,086,590
3,619,700
10 Related party transactions
Dividends totalling £235,000 (2023 - £204,000) were paid to the directors during the year. Dividends totalling £500,000 (2023 - £500,000) were received from the company's subsidiary, Campania Foods Limited.
11 Controlling party
The company is controlled by N Novi.
12 Other information
Campania Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Phipps Hatch Lane
Enfield
Middlesex
EN2 0HN
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