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REGISTERED NUMBER: 09984326 (England and Wales)














CICLOPI LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






CICLOPI LTD (REGISTERED NUMBER: 09984326)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


CICLOPI LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: S Sciacca





REGISTERED OFFICE: 9 Acorn Road
Tenterden
Kent
TN30 7FA





REGISTERED NUMBER: 09984326 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

CICLOPI LTD (REGISTERED NUMBER: 09984326)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,154 26,494

CURRENT ASSETS
Stocks 5 18,624 13,290
Debtors 6 178,588 104,234
Cash at bank 141,584 398,420
338,796 515,944
CREDITORS
Amounts falling due within one year 7 203,966 145,522
NET CURRENT ASSETS 134,830 370,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,984

396,916

CREDITORS
Amounts falling due after more than
one year

8

(48,149

)

(22,450

)

PROVISIONS FOR LIABILITIES (13,024 ) (3,252 )
NET ASSETS 136,811 371,214

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 136,511 370,914
SHAREHOLDERS' FUNDS 136,811 371,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CICLOPI LTD (REGISTERED NUMBER: 09984326)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2024 and were signed by:





S Sciacca - Director


CICLOPI LTD (REGISTERED NUMBER: 09984326)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Ciclopi Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
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
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CICLOPI LTD (REGISTERED NUMBER: 09984326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 30,598 - - 30,598
Additions - 2,520 49,935 52,455
At 30 April 2024 30,598 2,520 49,935 83,053
DEPRECIATION
At 1 May 2023 4,104 - - 4,104
Charge for year 3,059 252 12,484 15,795
At 30 April 2024 7,163 252 12,484 19,899
NET BOOK VALUE
At 30 April 2024 23,435 2,268 37,451 63,154
At 30 April 2023 26,494 - - 26,494

5. STOCKS
2024 2023
£    £   
Stocks 18,624 13,290

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 7,174
Other debtors 178,588 97,060
178,588 104,234

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,213 9,957
Hire purchase contracts (see note 9) 9,800 -
Trade creditors 72,008 36,461
Taxation and social security 59,831 85,454
Other creditors 52,114 13,650
203,966 145,522

CICLOPI LTD (REGISTERED NUMBER: 09984326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

HSBC Bank PLC hold a fixed and floating charge as a security for the mortgage over all assets, property or undertaking of the company. This contains a negative pledge.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,226 22,450
Hire purchase contracts (see note 9) 35,923 -
48,149 22,450

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,800 -
Between one and five years 35,923 -
45,723 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 32,500 32,500
Between one and five years 37,865 70,365
70,365 102,865

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 300

CICLOPI LTD (REGISTERED NUMBER: 09984326)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. RELATED PARTY DISCLOSURES

Ciclopi Limited is part of a group in which the ultimate parent company is Montalbano Group Limited, a company registered in the UK. At the year end, Montalbano Group Limited owed the company £137,265 (2023: £83,993), which is interest free, as are all of the intercompany loans.

Bottega Montalbano Limited, which is a group company, owed £32,883 (2023: £7,695) to the company.

Both of these amounts are included in other debtors.

The company has claimed exemption from disclosing detailed related party transactions as all the above companies are wholly owned subsidiaries in the group.

Also included in other debtors is an amount owed by another company, which became part of the group in September 2024.