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CASE TOSCANA LIMITED
(Formerly Casa Toscana Limited)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Case Toscana Ltd is a private company limited by shares incorporated in England and Wales. The address of the registered office and principal place of business is given in the company information page of these financial statements.
The financial statements are presented in sterling and rounded to the nearest £. The company's functional currency is Euros.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the balance sheet date of 31 December 2023 the company shows a deficiency of total assets over total liabilities of £63,920 (2022: £1,966). Due to the ongoing support of the directors, and expectation regarding future trading performance, the company expects to meet its liabilities as they fall due, the company has prepared its financial statements on a going concern basis.
Revenue is recognised through the rental of an investment property to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is generated through rental income and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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