3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 10,620 3,186 1,062 4,248 6,372 7,434 24,791 6,711 31,502 20,572 2,388 22,960 8,542 4,219 xbrli:pure xbrli:shares iso4217:GBP 08922516 2023-04-01 2024-03-31 08922516 2024-03-31 08922516 2023-03-31 08922516 2022-04-01 2023-03-31 08922516 2023-03-31 08922516 2022-03-31 08922516 bus:Director1 2023-04-01 2024-03-31 08922516 core:WithinOneYear 2024-03-31 08922516 core:WithinOneYear 2023-03-31 08922516 core:ShareCapital 2024-03-31 08922516 core:ShareCapital 2023-03-31 08922516 core:RetainedEarningsAccumulatedLosses 2024-03-31 08922516 core:RetainedEarningsAccumulatedLosses 2023-03-31 08922516 bus:SmallEntities 2023-04-01 2024-03-31 08922516 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08922516 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08922516 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08922516 bus:FullAccounts 2023-04-01 2024-03-31 08922516 core:OfficeEquipment 2023-04-01 2024-03-31 08922516 core:ComputerSoftware 2024-03-31 08922516 core:ComputerSoftware 2023-03-31 08922516 core:ComputerSoftware 2023-04-01 2024-03-31 08922516 core:OfficeEquipment 2023-03-31 08922516 core:OfficeEquipment 2024-03-31 08922516 core:KeyManagementPersonnel 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 08922516
Alessandro Isola Limited
Filleted Unaudited Financial Statements
31 March 2024
Alessandro Isola Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Alessandro Isola Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Website
5
6,372
7,434
Tangible assets
6
8,542
4,219
--------
--------
14,914
11,653
Current assets
Stocks
6,888
10,509
Debtors
7
47,059
92,546
Cash at bank and in hand
40,931
83,729
--------
---------
94,878
186,784
Creditors: amounts falling due within one year
8
59,327
122,610
--------
---------
Net current assets
35,551
64,174
--------
--------
Total assets less current liabilities
50,465
75,827
Provisions
Taxation including deferred tax
703
1,055
--------
--------
Net assets
49,762
74,772
--------
--------
Capital and reserves
Called up share capital
50,100
50,100
Profit and loss account
( 338)
24,672
--------
--------
Shareholders funds
49,762
74,772
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alessandro Isola Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 10 November 2024 , and are signed on behalf of the board by:
Mr A Isola
Director
Company registration number: 08922516
Alessandro Isola Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4, 5E Bear Lane, London, SE1 0UH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website
-
10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Website
Website
£
Cost
At 1 April 2023 and 31 March 2024
10,620
--------
Amortisation
At 1 April 2023
3,186
Charge for the year
1,062
--------
At 31 March 2024
4,248
--------
Carrying amount
At 31 March 2024
6,372
--------
At 31 March 2023
7,434
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2023
24,791
24,791
Additions
6,711
6,711
--------
--------
At 31 March 2024
31,502
31,502
--------
--------
Depreciation
At 1 April 2023
20,572
20,572
Charge for the year
2,388
2,388
--------
--------
At 31 March 2024
22,960
22,960
--------
--------
Carrying amount
At 31 March 2024
8,542
8,542
--------
--------
At 31 March 2023
4,219
4,219
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
41,014
28,692
Other debtors
6,045
63,854
--------
--------
47,059
92,546
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,324
Social security and other taxes
1,871
783
Other creditors
57,456
117,503
--------
---------
59,327
122,610
--------
---------
9. Related party transactions
At the year end the company owed the director £44,906 (2023: £48,583).