Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 10625735 Mr Manfredi Di Cintio iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10625735 2023-02-28 10625735 2024-02-28 10625735 2023-03-01 2024-02-28 10625735 frs-core:CurrentFinancialInstruments 2024-02-28 10625735 frs-core:ComputerEquipment 2024-02-28 10625735 frs-core:ComputerEquipment 2023-03-01 2024-02-28 10625735 frs-core:ComputerEquipment 2023-02-28 10625735 frs-core:FurnitureFittings 2024-02-28 10625735 frs-core:FurnitureFittings 2023-03-01 2024-02-28 10625735 frs-core:FurnitureFittings 2023-02-28 10625735 frs-core:WithinOneYear 2024-02-28 10625735 frs-core:ShareCapital 2024-02-28 10625735 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 10625735 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 10625735 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 10625735 frs-bus:SmallEntities 2023-03-01 2024-02-28 10625735 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 10625735 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 10625735 frs-bus:Director1 2023-03-01 2024-02-28 10625735 frs-countries:EnglandWales 2023-03-01 2024-02-28 10625735 2022-02-28 10625735 2023-02-28 10625735 2022-03-01 2023-02-28 10625735 frs-core:CurrentFinancialInstruments 2023-02-28 10625735 frs-core:WithinOneYear 2023-02-28 10625735 frs-core:ShareCapital 2023-02-28 10625735 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 10625735
Corso Italia Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 28 February 2024
Ecommerce Accountants LLP
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 10625735
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Stocks 5 93,372 108,784
Debtors 6 124,000 117,349
Cash at bank and in hand 106,163 106,775
323,535 332,908
Creditors: Amounts Falling Due Within One Year 7 (75,251 ) (162,116 )
NET CURRENT ASSETS (LIABILITIES) 248,284 170,792
TOTAL ASSETS LESS CURRENT LIABILITIES 248,284 170,792
NET ASSETS 248,284 170,792
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 248,280 170,788
SHAREHOLDERS' FUNDS 248,284 170,792
For the year ending 28 February 2024 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 his 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
Mr Manfredi Di Cintio
Director
05/11/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Corso Italia Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10625735 . The registered office is 71-75 Shelton Street Covent Garden, London, WC2H 9JQ.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. 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:
Fixtures & Fittings Straight line over three years.
Computer Equipment Straight line over three years.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 balance sheet date.
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 year end and that are expected to apply to the reversal of the timing
difference.
...CONTINUED
Page 2
Page 3
2.7. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 1,197 1,083 2,280
As at 28 February 2024 1,197 1,083 2,280
Depreciation
As at 1 March 2023 1,197 1,083 2,280
As at 28 February 2024 1,197 1,083 2,280
Net Book Value
As at 28 February 2024 - - -
As at 1 March 2023 - - -
5. Stocks
2024 2023
£ £
Finished goods 93,372 108,784
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,964 439
Other debtors 104,032 116,906
123,996 117,345
Due after more than one year
Other debtors 4 4
124,000 117,349
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 136 354
Trade creditors - 71
Other loans - 120,580
Other creditors 1,326 8,144
Taxation and social security 73,789 32,967
75,251 162,116
Page 3
Page 4
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 136 354
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 4