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REGISTERED NUMBER: 14658831 (England and Wales)














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: Mr Ugo Giordano
Mr Piercarlo Rolando
Mr Luciano Capaldo



REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS



REGISTERED NUMBER: 14658831 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr Simon Hawkins FCA



AUDITORS: Dains Audit Limited
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 21,830
Investments 6 166,651
188,481

CURRENT ASSETS
Stocks 404,701
Debtors 298,579
Cash at bank 91,253
794,533
CREDITORS
Amounts falling due within one year 875,737
NET CURRENT LIABILITIES (81,204 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,277

PROVISIONS FOR LIABILITIES 7 7,277
NET ASSETS 100,000

CAPITAL AND RESERVES
Called up share capital 8 100,000
SHAREHOLDERS' FUNDS 100,000

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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 27 September 2024 and were signed on its behalf by:




Mr Luciano Capaldo - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% straight line

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 29,107
At 31 December 2023 29,107
DEPRECIATION
Charge for period 7,277
At 31 December 2023 7,277
NET BOOK VALUE
At 31 December 2023 21,830

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:

Polish Properties Valuation Services SP ZOO (Poland)
Registered office: ul. Nowogrodzka 50/54, 00-695 Warsaw, Poland
Nature of business: Property valuation services
%
Class of shares: holding
Ordinary 70.30

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 7,277
Balance at 31 December 2023 7,277

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal
value: £   
100,000 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.