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REGISTERED NUMBER: SC064637 (Scotland)















Financial Statements For The Year Ended 30 June 2024

for

Cornacchia (2000) Limited

Cornacchia (2000) Limited (Registered number: SC064637)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Cornacchia (2000) Limited

Company Information
For The Year Ended 30 June 2024







DIRECTOR: R Cornacchia





REGISTERED OFFICE: 16 Craigfern Drive
Blanefield
Glasgow
Lanarkshire
G63 9DP





REGISTERED NUMBER: SC064637 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Cornacchia (2000) Limited (Registered number: SC064637)

Abridged Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,906 3,876
Investment property 5 353,000 353,000
355,906 356,876

CURRENT ASSETS
Debtors 125 125
Cash at bank 102,172 118,915
102,297 119,040
CREDITORS
Amounts falling due within one year 26,236 54,031
NET CURRENT ASSETS 76,061 65,009
TOTAL ASSETS LESS CURRENT
LIABILITIES

431,967

421,885

PROVISIONS FOR LIABILITIES 21,725 21,725
NET ASSETS 410,242 400,160

CAPITAL AND RESERVES
Called up share capital 7,440 7,440
Capital redemption reserve 1,860 1,860
Fair value reserve 6 179,770 179,770
Retained earnings 221,172 211,090
410,242 400,160

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Cornacchia (2000) Limited (Registered number: SC064637)

Abridged Statement of Financial Position - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





R Cornacchia - Director


Cornacchia (2000) Limited (Registered number: SC064637)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Cornacchia (2000) Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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
Tangible fixed assets are initially measured at cost and subsequently measured at cost o valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charges to profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised 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 statement of financial position date.


Cornacchia (2000) Limited (Registered number: SC064637)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023
and 30 June 2024 35,077
DEPRECIATION
At 1 July 2023 31,201
Charge for year 970
At 30 June 2024 32,171
NET BOOK VALUE
At 30 June 2024 2,906
At 30 June 2023 3,876

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 353,000
NET BOOK VALUE
At 30 June 2024 353,000
At 30 June 2023 353,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2019 201,386
Cost 151,614
353,000

Cornacchia (2000) Limited (Registered number: SC064637)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

5. INVESTMENT PROPERTY - continued

The directors have considered the values included above and believe that these are a true reflection of the current market values. No independent valuation has been carried out.

6. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 179,770