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REGISTERED NUMBER: SC304660 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ELEGANZA SPOSA LIMITED

ELEGANZA SPOSA LIMITED (REGISTERED NUMBER: SC304660)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ELEGANZA SPOSA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Anna Cirignaco
Antonio Cirignaco



REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT



BUSINESS ADDRESS: 183 Bath Street
Glasgow
G2 4HU



REGISTERED NUMBER: SC304660 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Bank of Scotland
Edinburgh Royal Mile
300 Lawnmarket
Edinburgh
EH1 2PH



SOLICITORS: Stirling Dunlop
36 Cadzow Street
Hamilton
ML3 6DG

ELEGANZA SPOSA LIMITED (REGISTERED NUMBER: SC304660)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,698,741 1,744,836

CURRENT ASSETS
Cash at bank 81,328 130,430

CREDITORS
Amounts falling due within one year 5 220,412 289,725
NET CURRENT LIABILITIES (139,084 ) (159,295 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,559,657

1,585,541

PROVISIONS FOR LIABILITIES 1 1
NET ASSETS 1,559,656 1,585,540

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,559,654 1,585,538
SHAREHOLDERS' FUNDS 1,559,656 1,585,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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 8 August 2024 and were signed on its behalf by:




Anna Cirignaco - Director


ELEGANZA SPOSA LIMITED (REGISTERED NUMBER: SC304660)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Eleganza Sposa Limited is a private company, limited by shares , registered in Scotland. 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. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
Turnover from the rendering of services, namely the provision of property rental, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Property - 2% on cost
Improvements to property - 25% on cost
Fixtures and fittings - 25% on cost
Equipment - 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

ELEGANZA SPOSA LIMITED (REGISTERED NUMBER: SC304660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

ELEGANZA SPOSA LIMITED (REGISTERED NUMBER: SC304660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
Property property fittings Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 2,304,762 35,972 1,076 4 2,341,814
DEPRECIATION
At 1 April 2023 559,931 35,969 1,075 3 596,978
Charge for year 46,095 - - - 46,095
At 31 March 2024 606,026 35,969 1,075 3 643,073
NET BOOK VALUE
At 31 March 2024 1,698,736 3 1 1 1,698,741
At 31 March 2023 1,744,831 3 1 1 1,744,836

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporation tax 38,240 51,925
Directors' loan 60,552 116,240
Accrued charges 121,620 121,560
220,412 289,725

6. RELATED PARTY DISCLOSURES

During the year, the company received an interest free loan from the directors amounting to £60,552 (2023 : £116,240).