REGISTERED NUMBER: |
ABRIDGED AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
FOR |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD |
REGISTERED NUMBER: |
ABRIDGED AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
FOR |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD (REGISTERED NUMBER: 14658831) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD |
COMPANY INFORMATION |
FOR THE PERIOD 13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditor and Chartered Accountants |
Suite 2, Albion House |
2 Etruria Office Village |
Forge Lane |
Stoke on Trent |
Staffordshire |
ST1 5RQ |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD (REGISTERED NUMBER: 14658831) |
ABRIDGED BALANCE SHEET |
31 DECEMBER 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD (REGISTERED NUMBER: 14658831) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Rina Prime Value Services International Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
There were no judgements and estimates that had significant effect on the amounts recognised in the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks and work in progress |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD (REGISTERED NUMBER: 14658831) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid and final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD (REGISTERED NUMBER: 14658831) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 31 December 2023 |
DEPRECIATION |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
Additions | 166,651 |
At 31 December 2023 | 166,651 |
NET BOOK VALUE |
At 31 December 2023 | 166,651 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: ul. Nowogrodzka 50/54, 00-695 Warsaw, Poland |
Nature of business: |
% |
Class of shares: | holding |
7. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 7,277 |
RINA PRIME VALUE SERVICES INTERNATIONAL |
LTD (REGISTERED NUMBER: 14658831) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 13 FEBRUARY 2023 TO 31 DECEMBER 2023 |
7. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Provided during period |
Balance at 31 December 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100,000 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors on the financial statements for the period ended 31 December 2023 was unqualified. |
The audit report was signed on 27 September 2024 by Mr Simon Hawkins FCA (Senior Statutory Auditor) for and on behalf of Dains Audit Limited. |
10. | RELATED PARTY DISCLOSURES |
Rina Prime Value Services SPA |
Rina Prime Value Services SPA is the immediate parent company. During the year, the company received advances totalling £175,781 from Rina Prime Value Services SPA and declared a dividend due to Rina Prime Value Services SPA totalling £153,085. At the balance sheet date, the amount owed by the company to Rina Prime Value Services SPA is £328,866. This is an interest-free loan which is repayable on demand. |
Investment Asset Management Limited |
Investment Asset Management Limited is an associated company. During the year, the company declared a dividend due to Investment Asset Management Limited totalling £38,271. At the balance sheet date, the amount owed by the company to Investment Asset Management Limited is £38,271. This is an interest-free loan which is repayable on demand. |
11. | ULTIMATE CONTROLLING PARTY |
Rina Prime Value Services SPA, a company incorporated and registered in Italy with registered number MI-2100185, is the immediate parent company as it owns 80% of the issued share capital of the company. |
There is no one single ultimate controlling party. |