REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
BARKOS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
BARKOS LIMITED |
BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BARKOS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
BALANCE SHEET |
29 FEBRUARY 2024 |
29/2/24 | 28/2/23 |
Notes | € | € |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Barkos Limited is a |
The Company’s functional and presentational currency is Euros and the financial statements have been rounded to the nearest euro (€). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investment property |
Investment properties, which are properties held to earn rentals and / or for capital appreciation, are initially measured at cost and subsequently at fair value. Gains or losses on revaluation are recognised in profit or loss. |
Financial instruments |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
The going concern basis has been considered appropriate by the directors as the parent undertaking Ditta Fratelli Poggi SRL, has indicated that it will continue to support the company financially for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
BARKOS LIMITED (REGISTERED NUMBER: 06124749) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
4. | INVESTMENT PROPERTY |
Total |
€ |
Fair value |
At 1 March 2023 |
and 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
The investment property was valued at 29 February 2024 by the director on Sales Comparison Method, using the trend and market value of the Italian real estate market in Westhern Italy as assessed by official statistical institution. In director's opinion, the value of the property at 29 February 2024 is approximately the same as the value at 28 February 2023. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29/2/24 | 28/2/23 |
€ | € |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29/2/24 | 28/2/23 |
€ | € |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
7. | ULTIMATE CONTROLLING PARTY |
Ditta Fratelli Poggi SRL, a company incorporated in Italy, is the company's immediate parent company. |
The directors consider the company's ultimate parent and controlling party to be Ditta Fratelli Poggi SRL a company also incorporated in Italy. |