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De Fatis Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02565054
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,669 4,261
Tangible Assets 5 166 319
Investments 6 1 1
3,836 4,581
CURRENT ASSETS
Stocks 7 1,181 2,427
Debtors 8 50,959 49,920
Cash at bank and in hand 12,665 34,530
64,805 86,877
Creditors: Amounts Falling Due Within One Year 9 (157,434 ) (166,007 )
NET CURRENT ASSETS (LIABILITIES) (92,629 ) (79,130 )
TOTAL ASSETS LESS CURRENT LIABILITIES (88,793 ) (74,549 )
NET LIABILITIES (88,793 ) (74,549 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (88,893 ) (74,649 )
SHAREHOLDERS' FUNDS (88,793) (74,549)
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
G M Rossi
Director
19 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
De Fatis Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02565054 . The registered office is C/O BWBCA Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the balance sheet date, the company had net liabilities. The director has confirmed that they will continue to financially support the company for the foreseeable future, and will not withdraw their loan to the detriment of the company or its other creditors.The company, with the directors support, is currently able to meet its liabilities as and when they fall due. For these reasons, the accounts are prepared on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets aremeasured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences are being amortised evenly over their estimated useful life of ten years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery straight line over 3 years
Fixtures & Fittings straight line over 5 years
Computer Equipment straight line over 3 years
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees during the year was: NIL (2022: NIL)
- -
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 5,922
As at 31 December 2023 5,922
Amortisation
As at 1 January 2023 1,661
Provided during the period 592
As at 31 December 2023 2,253
...CONTINUED
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Page 4
Net Book Value
As at 31 December 2023 3,669
As at 1 January 2023 4,261
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 2,500 5,985 2,394 10,879
As at 31 December 2023 2,500 5,985 2,394 10,879
Depreciation
As at 1 January 2023 2,500 5,666 2,394 10,560
Provided during the period - 153 - 153
As at 31 December 2023 2,500 5,819 2,394 10,713
Net Book Value
As at 31 December 2023 - 166 - 166
As at 1 January 2023 - 319 - 319
6. Investments
Subsidiaries
£
Cost
As at 1 January 2023 1
As at 31 December 2023 1
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 1
As at 1 January 2023 1
7. Stocks
2023 2022
£ £
Stock 1,181 2,427
Page 4
Page 5
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,109 5,760
Amounts owed by group undertakings 36,225 40,522
Other debtors 3,625 3,638
50,959 49,920
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,580 2,467
Other creditors 153,311 161,491
Taxation and social security 1,543 2,049
157,434 166,007
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 36,500 36,500
Later than one year and not later than five years 29,900 66,400
66,400 102,900
12. Related Party Transactions
At the balance sheet date, the company owed the director £142,070 (2022: £144,738). This amount is interest free and repayable upon demand.
Page 5