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REGISTERED NUMBER: 04778194 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 30 DECEMBER 2023

FOR

SPINSOLE LIMITED

SPINSOLE LIMITED (REGISTERED NUMBER: 04778194)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


SPINSOLE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023







DIRECTOR: Mr Nicolo Solari





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 04778194 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

SPINSOLE LIMITED (REGISTERED NUMBER: 04778194)

ABRIDGED STATEMENT OF FINANCIAL POSITION
30 DECEMBER 2023

2023 2022
Notes €    €    €    €   
FIXED ASSETS
Tangible assets 4 62,416 62,336

CURRENT ASSETS
Stocks 45,945 45,945
Debtors 39,916 35,879
Investments 6,983 6,983
Cash at bank and in hand 11,003 27,961
103,847 116,768
CREDITORS
Amounts falling due within one year 113,922 111,465
NET CURRENT (LIABILITIES)/ASSETS (10,075 ) 5,303
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,341

67,639

CREDITORS
Amounts falling due after more than one year 223,313 219,600
NET LIABILITIES (170,972 ) (151,961 )

CAPITAL AND RESERVES
Called up share capital 6 508,036 508,036
Other reserves 7 (536,279 ) (537,379 )
Retained earnings 7 (142,729 ) (122,618 )
SHAREHOLDERS' FUNDS (170,972 ) (151,961 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2023 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.

SPINSOLE LIMITED (REGISTERED NUMBER: 04778194)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
30 DECEMBER 2023


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 Financial Position for the period ended 30 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 April 2025 and were signed by:





Mr Nicolo Solari - Director


SPINSOLE LIMITED (REGISTERED NUMBER: 04778194)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


1. STATUTORY INFORMATION

Spinsole Limited 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 Euro (€).


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.

The financial statements are presented in Euro (€) which is the functional currency of the company.

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

Turnover represents both rent receivable and the sale of goods for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and Buildings - not provided
Fixtures, fittings and equipment - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Impairment of assets
The company assess at each reporting date whether an asset may be impaired. If any such indication exists the company estimates the recoverable amount of the assets. If it is not possible to estimate the recoverable amount of the individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The recoverable amount of an asset or cash-generating unit is the higher of its fair value less costs to sell and its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in profit and loss unless the asset is carried at a revalued amount where the impairment loss of a revalued asset is a revaluation decrease.

An impairment loss recognised for all assets, is reversed in a subsequent period only if the reasons for the impairment have ceased to apply.

SPINSOLE LIMITED (REGISTERED NUMBER: 04778194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

SPINSOLE LIMITED (REGISTERED NUMBER: 04778194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Totals
€   
COST
At 1 January 2023 1,145,563
Additions 100
At 30 December 2023 1,145,663
DEPRECIATION
At 1 January 2023 1,083,227
Charge for period 20
At 30 December 2023 1,083,247
NET BOOK VALUE
At 30 December 2023 62,416
At 31 December 2022 62,336

5. LOANS

An analysis of the maturity of loans is given below:

2023 2022
€    €   
Amounts falling due within one year or on demand:
Bank loans 502 502

Amounts falling due between one and two years:
Bank loans 223,313 219,600

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: €    €   
413,701 Ordinary £1 508,036 508,036

SPINSOLE LIMITED (REGISTERED NUMBER: 04778194)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 30 DECEMBER 2023


7. RESERVES
Retained Other
earnings reserves Totals
€    €    €   

At 1 January 2023 (122,618 ) (537,379 ) (659,997 )
Deficit for the period (20,111 ) (20,111 )
Other reserves - 1,100 1,100
At 30 December 2023 (142,729 ) (536,279 ) (679,008 )

8. ULTIMATE CONTROLLING PARTY

Mr N Solari, the director, is considered to be the ultimate controlling party by virtue of a controlling interest of 100% of the issued ordinary share capital.