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Registration number: 13929369

Silvia O&G Italo-English Ltd

Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 28 February 2024

 

Silvia O&G Italo-English Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Silvia O&G Italo-English Ltd

Company Information

Director

Mrs Marcia Wesley Silva-Williams

Registered office

17 Prince Georges Avenue
Raynes Park
London
SW20 8BQ

Accountants

RS Business Consulting Ltd
11 Approach Road
Raynes Park
London
SW20 8BA

 

Silvia O&G Italo-English Ltd

(Registration number: 13929369)
Balance Sheet as at 28 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

7,000

8,000

Tangible assets

5

103

206

 

7,103

8,206

Current assets

 

Cash at bank and in hand

 

3,850

26,167

Creditors: Amounts falling due within one year

6

(5,128)

(20,520)

Net current (liabilities)/assets

 

(1,278)

5,647

Net assets

 

5,825

13,853

Capital and reserves

 

Called up share capital

160

160

Retained earnings

5,665

13,693

Shareholders' funds

 

5,825

13,853

For the financial period ending 28 February 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 accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 November 2024
 

.........................................
Mrs Marcia Wesley Silva-Williams
Director

 

Silvia O&G Italo-English Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in united Kingdom.

The address of its registered office is:
17 Prince Georges Avenue
Raynes Park
London
SW20 8BQ
United Kingdom

These financial statements were authorised for issue by the director on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Silvia O&G Italo-English Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Silvia O&G Italo-English Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2023 - 0).

 

Silvia O&G Italo-English Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

10,000

10,000

At 28 February 2024

10,000

10,000

Amortisation

At 1 March 2023

2,000

2,000

Amortisation charge

1,000

1,000

At 28 February 2024

3,000

3,000

Carrying amount

At 28 February 2024

7,000

7,000

At 28 February 2023

8,000

8,000

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

308

308

At 28 February 2024

308

308

Depreciation

At 1 March 2023

102

102

Charge for the period

103

103

At 28 February 2024

205

205

Carrying amount

At 28 February 2024

103

103

At 28 February 2023

206

206

6

Creditors

Creditors: amounts falling due within one year

 

Silvia O&G Italo-English Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

2024
£

2023
£

Due within one year

Taxation and social security

-

4,588

Accruals and deferred income

720

720

Other creditors

4,408

15,212

5,128

20,520

7

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £6.25 (2023 - £Nil) per each Ordinary shares

1,000

-

 

 

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil (2023 - £25.00) per each Ordinary shares

-

4,000