Company Registration No. 09352570 (England and Wales)
Gelato Americano Ltd
Unaudited accounts
for the year ended 31 March 2024
Gelato Americano Ltd
Unaudited accounts
Contents
Gelato Americano Ltd
Company Information
for the year ended 31 March 2024
Director
Krish Mirchandani
Company Number
09352570 (England and Wales)
Registered Office
53 Porchester Road
Suite 26
London
W2 5DX
United Kingdom
Accountants
Yukimi Rabnott FCPFA for and on behalf of
On The Spot
Trading Name of Carson Rabnott Limited
EC2Y 8BY
Gelato Americano Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
231
304
Creditors: amounts falling due within one year
(146,868)
(145,434)
Net current liabilities
(146,637)
(145,130)
Net liabilities
(146,637)
(145,130)
Called up share capital
100
100
Profit and loss account
(146,737)
(145,230)
Shareholders' funds
(146,637)
(145,130)
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. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2024 and were signed on its behalf by
Krish Mirchandani
Director
Company Registration No. 09352570
Gelato Americano Ltd
Notes to the Accounts
for the year ended 31 March 2024
Gelato Americano Ltd is a private company, limited by shares, registered in England and Wales, registration number 09352570. The registered office is 53 Porchester Road, Suite 26, London, W2 5DX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
The difficult trading conditions experienced by this sector arising from the Coronavirus resulted in difficulties for the company. The directors are considering the next phase of the company's development, and, in the meantime will continue to support the company and have adopted the going concern basis of accounting
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
straight line over the term of the lease
Plant & machinery
25% per annum reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
7,450
3,017
10,467
At 31 March 2024
7,450
3,017
10,467
At 1 April 2023
7,450
3,017
10,467
At 31 March 2024
7,450
3,017
10,467
Gelato Americano Ltd
Notes to the Accounts
for the year ended 31 March 2024
5
Creditors: amounts falling due within one year
2024
2023
Loans from directors
146,224
144,954
6
Transactions with related parties
There were no material transactions with directors and shareholders that were not conducted under normal market conditions. The amounts owed to directors are included within creditors. The balances are payable on demand and no interest is charged.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).