Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01an Italian restuarant24truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08116160 2023-07-01 2024-06-30 08116160 2022-07-01 2023-06-30 08116160 2024-06-30 08116160 2023-06-30 08116160 c:Director1 2023-07-01 2024-06-30 08116160 d:FurnitureFittings 2023-07-01 2024-06-30 08116160 d:FurnitureFittings 2024-06-30 08116160 d:FurnitureFittings 2023-06-30 08116160 d:CurrentFinancialInstruments 2024-06-30 08116160 d:CurrentFinancialInstruments 2023-06-30 08116160 d:Non-currentFinancialInstruments 2024-06-30 08116160 d:Non-currentFinancialInstruments 2023-06-30 08116160 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08116160 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08116160 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 08116160 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08116160 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 08116160 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 08116160 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 08116160 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 08116160 d:ShareCapital 2024-06-30 08116160 d:ShareCapital 2023-06-30 08116160 d:RetainedEarningsAccumulatedLosses 2024-06-30 08116160 d:RetainedEarningsAccumulatedLosses 2023-06-30 08116160 c:EntityNoLongerTradingButTradedInPast 2023-07-01 2024-06-30 08116160 c:FRS102 2023-07-01 2024-06-30 08116160 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08116160 c:AbridgedAccounts 2023-07-01 2024-06-30 08116160 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08116160 2 2023-07-01 2024-06-30 08116160 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 08116160









ITALIAN NUTLEY LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024


 
ITALIAN NUTLEY LIMITED
REGISTERED NUMBER:08116160

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
169

  
-
169

Current assets
  

Stocks
 5 
-
4,290

Debtors
 6 
-
491

Cash at bank and in hand
 7 
89,254
111,000

  
89,254
115,781

Creditors: amounts falling due within one year
 8 
(89,154)
(49,903)

Net current assets
  
 
 
100
 
 
65,878

Total assets less current liabilities
  
100
66,047

Creditors: amounts falling due after more than one year
  
-
(20,000)

Net assets
  
100
46,047


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
-
45,947

Shareholders' funds
  
100
46,047


Page 1


 
ITALIAN NUTLEY LIMITED
REGISTERED NUMBER:08116160
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2024.




Ms E T Cordero Davila
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2


 
ITALIAN NUTLEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at Yew Tree House, Lewes Road, Forest Row, East Sussex, RH18 5AA.  
The Company's principal activity continued to be the operation of an Italian restaurant up until 3 June 2024 when the goodwill and assets were sold.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3


 
ITALIAN NUTLEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

Page 4


 
ITALIAN NUTLEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term 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.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 4).


4.


Tangible fixed assets





Fixtures and fittings

£





At 1 July 2023
3,012


Disposals
(3,012)



At 30 June 2024

-





At 1 July 2023
2,843


Disposals
(2,843)



At 30 June 2024

-



Net book value



At 30 June 2024
-



At 30 June 2023
169

Page 5


 
ITALIAN NUTLEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
-
4,290

-
4,290



6.


Debtors

2024
2023
£
£


Other debtors
-
491

-
491



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
89,254
111,000

89,254
111,000



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
10,000

Corporation tax
12,907
7,040

Other taxation and social security
4,636
10,647

Other creditors
71,611
19,583

Accruals and deferred income
-
2,633

89,154
49,903


Page 6


 
ITALIAN NUTLEY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
20,000

-
20,000



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
10,000


-
10,000

Amounts falling due 1-2 years

Bank loans
-
10,000


-
10,000

Amounts falling due 2-5 years

Bank loans
-
10,000


-
10,000


-
30,000



11.


Transactions with directors

Included in other creditors due within one year is a loan from the director, Ms E T Cordero Davila, amounting to £(71,610)  [2023 - £(19,584)].


12.


Controlling party

The Company was controlled throughout the current and previous period by its director, Ms E T Cordero Davila, by virtue of the fact that she owns all of the company's ordinary share capital.

 
Page 7