1 January 2023 false No description of principal activity Taxfiler 2024.5 11734193business:PrivateLimitedCompanyLtd2023-01-012023-12-31 117341932022-12-31 117341932023-01-012023-12-31 11734193business:AuditExemptWithAccountantsReport2023-01-012023-12-31 11734193business:FilletedAccounts2023-01-012023-12-31 117341932023-12-31 11734193business:Director12023-01-012023-12-31 11734193business:Director22023-01-012023-12-31 11734193business:RegisteredOffice2023-01-012023-12-31 117341932022-12-31 11734193core:WithinOneYear2023-12-31 11734193core:WithinOneYear2022-12-31 11734193core:AfterOneYear2023-12-31 11734193core:AfterOneYear2022-12-31 11734193core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 11734193core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 11734193core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 11734193core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 11734193core:PreviouslyStatedAmount2023-12-31 11734193core:PreviouslyStatedAmount2022-12-31 11734193business:SmallEntities2023-01-012023-12-31 11734193countries:EnglandWales2023-01-012023-12-31 11734193core:MotorVehicles2022-12-31 11734193core:ComputerEquipment2022-12-31 11734193core:MotorVehicles2023-01-012023-12-31 11734193core:ComputerEquipment2023-01-012023-12-31 11734193core:MotorVehicles2023-12-31 11734193core:ComputerEquipment2023-12-31 117341932022-01-012022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 11734193 (England and Wales)
Italian Bag and Moda Euro Ltd Unaudited accounts for the year ended 31 December 2023
Italian Bag and Moda Euro Ltd Unaudited accounts Contents
Page
- 2 -
Italian Bag and Moda Euro Ltd Company Information for the year ended 31 December 2023
Directors
Stephen Raymond Samuel Frances Samuel
Company Number
11734193 (England and Wales)
Registered Office
3-4 WALLBRIDGE MILLS FROME BA11 5JZ ENGLAND
Accountants
BMG Accountancy Services Ltd 5 Commercial Road Shepton Mallet Somerset BA4 5BU
- 3 -
Italian Bag and Moda Euro Ltd Accountants' report
Accountants' report to the board of directors of Italian Bag and Moda Euro Ltd (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 December 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 December 2023. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
BMG Accountancy Services Ltd 5 Commercial Road Shepton Mallet Somerset BA4 5BU 17 September 2024
- 4 -
Italian Bag and Moda Euro Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
42,754 
1,807 
Current assets
Inventories
320,000 
320,000 
Debtors
148,351 
51,372 
Cash at bank and in hand
277,787 
558,685 
746,138 
930,057 
Creditors: amounts falling due within one year
(916,404)
(941,346)
Net current liabilities
(170,266)
(11,289)
Total assets less current liabilities
(127,512)
(9,482)
Creditors: amounts falling due after more than one year
- 
(23,857)
Net liabilities
(127,512)
(33,339)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(127,612)
(33,439)
Shareholders' funds
(127,512)
(33,339)
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by
Stephen Raymond Samuel Director Company Registration No. 11734193
- 5 -
Italian Bag and Moda Euro Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Italian Bag and Moda Euro Ltd is a private company, limited by shares, registered in England and Wales, registration number 11734193. The registered office is 3-4 WALLBRIDGE MILLS, FROME, BA11 5JZ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
- 
3,441 
3,441 
Additions
46,829 
7,733 
54,562 
At 31 December 2023
46,829 
11,174 
58,003 
Depreciation
At 1 January 2023
- 
1,634 
1,634 
Charge for the year
11,707 
1,908 
13,615 
At 31 December 2023
11,707 
3,542 
15,249 
Net book value
At 31 December 2023
35,122 
7,632 
42,754 
At 31 December 2022
- 
1,807 
1,807 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
148,351 
51,372 
- 6 -
Italian Bag and Moda Euro Ltd Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
29,127 
43,819 
Obligations under finance leases and hire purchase contracts
22,803 
22,803 
Amounts owed to group undertakings and other participating interests
292,606 
292,606 
Taxes and social security
- 
11,684 
Other creditors
497,575 
497,575 
Loans from directors
72,453 
71,019 
Accruals
1,840 
1,840 
916,404 
941,346 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
23,857 
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
- 7 -