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Azzurro-Blu Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

Registration number: 9597161

 

Azzurro-Blu Limited

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Azzurro-Blu Limited

(Registration number: 9597161)
Statement of financial position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

243

631

Current assets

 

Debtors

5

80,186

125,943

Cash at bank and in hand

 

188,061

170,790

 

268,247

296,733

Creditors: Amounts falling due within one year

6

(100,397)

(71,842)

Net current assets

 

167,850

224,891

Total assets less current liabilities

 

168,093

225,522

Creditors: Amounts falling due after more than one year

6

(13,171)

(23,274)

Net assets

 

154,922

202,248

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

153,922

201,248

Shareholders' funds

 

154,922

202,248

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Azzurro-Blu Limited

(Registration number: 9597161)
Statement of financial position as at 31 May 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 25 February 2025 and signed on its behalf by:
 

.........................................
Mr A Graham
Director

 

Azzurro-Blu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 current 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.

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.

 

Azzurro-Blu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Motor vehicle

20% Straight Line

Office equipment

40% Reducing Balance

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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 directors) during the year, was 8 (2023 - 8).

 

Azzurro-Blu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

2,552

5,010

7,562

At 31 May 2024

2,552

5,010

7,562

Depreciation

At 1 June 2023

2,147

4,784

6,931

Charge for the year

162

226

388

At 31 May 2024

2,309

5,010

7,319

Carrying amount

At 31 May 2024

243

-

243

At 31 May 2023

405

226

631

 

Azzurro-Blu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

58,758

112,463

Prepayments

2,825

4,957

Other debtors

18,603

8,523

 

80,186

125,943

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

9,932

Trade creditors

 

43,206

17,814

Taxation and social security

 

4,385

5,938

Accruals and deferred income

 

36,250

36,200

Other creditors

 

6,556

1,958

 

100,397

71,842

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

13,171

23,274

 

Azzurro-Blu Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000