Registered number
06081550
Clarucci Industry Limited
Filleted Accounts
29 February 2024
Clarucci Industry Limited
Registered number: 06081550
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 9,888,251 9,891,638
Cash at bank and in hand 532 854
9,888,783 9,892,492
Creditors: amounts falling due within one year 4 (176,108) (186,833)
Net current assets 9,712,675 9,705,659
Net assets 9,712,675 9,705,659
Capital and reserves
Called up share capital 10,000,000 10,000,000
Profit and loss account (287,325) (294,341)
Shareholder's funds 9,712,675 9,705,659
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Guglielmucci
Director
Approved by the board on 5 February 2025
Clarucci Industry Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes interest receivable on funds advanced and is recognised in the statement of comprehensive income in the period in which it accrues.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 3
3 Debtors 2024 2023
£ £
Other debtors 9,888,251 9,891,638
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 750 -
Other creditors 175,358 186,833
176,108 186,833
5 Contingent liabilities
The company will provide continued financial support to Orfare Limited, a company in which Mr Guglielmucci has a controlling interest, to enable it to continue as a going concern.
6 Related party transactions
Included in other debtors at the year end is £2,169,599 (2023: £2,182,987) due from Orfare Limited in which a director has a controlling interest. Clarrucci Industry Limited has made a provision of £568,124 (2023: £568,124) against this loan. During the year interest of £28,612 (2023: £10,080) was charged on this balance.

Also included in other debtors at the year end is £7,476,775 (2023: £7,476,775) due from a company registered in Italy in which a director has a controlling interest.
During the year Clarrucci Industry Limited was charged a management charge of £42,000 (2023: £40,500) by Orfare Limited under common control.

Included in other debtors at the year end is £10,000 due from Bedmond Hill Estates Limited in which the director has a controlling interest. A management charge of £22,000 was also charged to Bedmond Hill Estates Ltd during the year.

Included in other creditors at the year end is £8,000 (2023: £8,000) due to PACS (Bedmond) Limited.

Also included in other creditors less than one year is £166,338 (2023: £163,838) due to a director of the company. This loan is interest free and repayable on demand.
7 Other information
Clarucci Industry Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Breakspear Place
Abbots Langley
Hertfordshire
WD5 0QF
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