Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-31falsetrue2023-01-01passenger land transport51trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13974666 2023-01-01 2023-12-31 13974666 2022-03-14 2022-12-31 13974666 2023-12-31 13974666 2022-12-31 13974666 c:Director1 2023-01-01 2023-12-31 13974666 c:Director2 2023-01-01 2023-12-31 13974666 c:RegisteredOffice 2023-01-01 2023-12-31 13974666 d:ComputerEquipment 2023-01-01 2023-12-31 13974666 d:ComputerEquipment 2023-12-31 13974666 d:ComputerEquipment 2022-12-31 13974666 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13974666 d:CurrentFinancialInstruments 2023-12-31 13974666 d:CurrentFinancialInstruments 2022-12-31 13974666 d:Non-currentFinancialInstruments 2023-12-31 13974666 d:Non-currentFinancialInstruments 2022-12-31 13974666 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13974666 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13974666 d:ShareCapital 2023-01-01 2023-12-31 13974666 d:ShareCapital 2023-12-31 13974666 d:ShareCapital 2022-03-14 2022-12-31 13974666 d:ShareCapital 2022-12-31 13974666 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13974666 d:RetainedEarningsAccumulatedLosses 2023-12-31 13974666 d:RetainedEarningsAccumulatedLosses 2022-03-14 2022-12-31 13974666 d:RetainedEarningsAccumulatedLosses 2022-12-31 13974666 c:FRS102 2023-01-01 2023-12-31 13974666 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13974666 c:FullAccounts 2023-01-01 2023-12-31 13974666 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13974666 2 2023-01-01 2023-12-31 13974666 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 13974666










LIMOLANE LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




















 
LIMOLANE LTD
 
 
Company Information


Directors
E Brancia 
F Righetti 




Registered number
13974666



Registered office
3rd Floor
12 Gough Square

London

England

EC4A 3DW





 
LIMOLANE LTD
 

Contents



Page
Balance Sheet
 
 
1 - 2
Statement of Changes in Equity
 
 
3 - 4
Notes to the Financial Statements
 
 
5 - 10


 
LIMOLANE LTD
Registered number: 13974666

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,252
-

  
1,252
-

Current assets
  

Debtors: amounts falling due after more than one year
 5 
-
5,042

Debtors: amounts falling due within one year
 5 
13,767
10,647

Cash at bank and in hand
 6 
25,997
-

  
39,764
15,689

Creditors: amounts falling due within one year
 7 
(456,082)
(44,867)

Net current liabilities
  
 
 
(416,318)
 
 
(29,178)

Total assets less current liabilities
  
(415,066)
(29,178)

  

Net liabilities
  
(415,066)
(29,178)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(415,166)
(29,278)

  
(415,066)
(29,178)


Page 1

 
LIMOLANE LTD
Registered number: 13974666
    
Balance Sheet (continued)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.




F Righetti
Director

Page 2

 
LIMOLANE LTD
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
(29,278)
(29,178)


Comprehensive income for the year

Loss for the year
-
(385,888)
(385,888)
Total comprehensive income for the year
-
(385,888)
(385,888)


At 31 December 2023
100
(415,166)
(415,066)


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
LIMOLANE LTD
 

Statement of Changes in Equity
For the Period Ended 31 December 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period
-
(29,278)
(29,278)
Total comprehensive income for the period
-
(29,278)
(29,278)


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 31 December 2022
100
(29,278)
(29,178)


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
LIMOLANE LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

Limolane Ltd ("the Company") is a private company limited by share capital incorporated in the United Kingdom and registered in England & Wales with registration number 13974666. The registered office address is 3rd Floor 12 Gough Square, London, England, EC4A 3DW.
The Company was incorporated on 14 March 2022.  Therefore, the comparative information is for the 9 month period to 31 December 2022.
The principal activity of the company was that of the provision of passenger land transport services. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Going concern

The accounts have been prepared by the directors under the going concern basis despite an excess of liabilities over total assets.
The directors consider the going concern basis to be appropriate as the parent company Limolane SRL has agreed to support the company and maintain funding to enable the Company to meet its obligations as they fall due for at least the next twelve months.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 5

 
LIMOLANE LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
Over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 6

 
LIMOLANE LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.

 
2.11

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
 
Page 7

 
LIMOLANE LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022: 1).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
1,577



At 31 December 2023

1,577



Depreciation


Charge for the year on owned assets
325



At 31 December 2023

325



Net book value



At 31 December 2023
1,252



At 31 December 2022
-

Page 8

 
LIMOLANE LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
5,042

-
5,042


2023
2022
£
£

Due within one year

Other debtors
8,014
5,605

Prepayments and accrued income
5,753
5,042

13,767
10,647



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
25,997
-

25,997
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,405
-

Other taxation and social security
10,748
-

Other creditors
418,460
41,867

Accruals and deferred income
21,469
3,000

456,082
44,867



8.


Related party transactions

As at 31 December 2023 the company owed £417,471 (2022: £41,867) to Limolane SRL, its wholly owned parent incorporated in Italy.

Page 9

 
LIMOLANE LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

9.


Controlling party

The immediate parent undertaking is Limolane SRL, who is not required to prepare consolidated financial statements. The immediate parent undertaking's registered office address is Via Monzoro 41, 43 20010, Cornaredo MI, Italy.
 
Page 10