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Registration number: 08046113

Borrello & Co. UK Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Borrello & Co. UK Limited

Contents

Company Information

1

Director's Report

2

Abridged Statement of Financial Position

3

Statement of Changes in Equity

4

Notes to the Unaudited Abridged Financial Statements

5 to 6

 

Borrello & Co. UK Limited

Company Information

Director

Michelangelo Borrello

Company secretary

Lincoln Secretaries Limited

Registered office

12 , Bridewell Place
Third Floor East
London
EC4V 6AP

 

Borrello & Co. UK Limited

Director's Report for the Year Ended 30 April 2024

The director presents his report and the abridged financial statements for the year ended 30 April 2024.

Director of the company

The director who held office during the year was as follows:

Michelangelo Borrello

Principal activity

The principal activity of the company is that of selling ribbon used as labels for garments.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 10 March 2025
 

.........................................
Lincoln Secretaries Limited
Company secretary

 

Borrello & Co. UK Limited

(Registration number: 08046113)
Abridged Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

11,511

1,673

Cash at bank and in hand

 

508,414

535,024

 

519,925

536,697

Prepayments and accrued income

 

1,110

5,345

Creditors: Amounts falling due within one year

(8,911)

(18,352)

Total assets less current liabilities

 

512,124

523,690

Accruals and deferred income

 

(1,386)

(1,320)

Net assets

 

510,738

522,370

Capital and reserves

 

Called up share capital

30,000

30,000

Retained earnings

480,738

492,370

Shareholders' funds

 

510,738

522,370

For the financial year ending 30 April 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 year in question in accordance with section 476; and

The director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 10 March 2025
 

.........................................
Michelangelo Borrello
Director

 

Borrello & Co. UK Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

30,000

492,370

522,370

Loss for the year

-

(11,632)

(11,632)

At 30 April 2024

30,000

480,738

510,738

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

30,000

482,678

512,678

Profit for the year

-

9,692

9,692

At 30 April 2023

30,000

492,370

522,370

 

Borrello & Co. UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 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:
12 , Bridewell Place
Third Floor East
London
EC4V 6AP

These financial statements were authorised for issue by the director on 10 March 2025.

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 abridged 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 abridged 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Borrello & Co. UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

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.

3

Staff numbers

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