REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD (REGISTERED NUMBER: 11210449) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 July 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Newtown House |
38 Newtown Road |
Liphook |
Hampshire |
GU30 7DX |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD (REGISTERED NUMBER: 11210449) |
BALANCE SHEET |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their 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. |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD (REGISTERED NUMBER: 11210449) |
BALANCE SHEET - continued |
31 July 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD (REGISTERED NUMBER: 11210449) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 July 2024 |
1. | STATUTORY INFORMATION |
Italia Conti Associates Petersfield Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents income from providing classes to individuals up to 18+ years of age in the performing arts, excluding value added tax. |
Intangible assets |
The costs of the franchise fee in 2018 is being written off evenly over a six year term with effect from year ended 31 July 2022, as a result of the agreement being extended to 2028. |
Tangible fixed assets |
Plant and machinery | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or 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 balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD (REGISTERED NUMBER: 11210449) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 July 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
AMORTISATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
As a result of the franchise agreement being extended for a further five years at no cost it was decided that the remaining value of the franchise fee which was originally purchased in 2018 should be amortised over six years with effect from the year ending 31 July 2022. |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
ITALIA CONTI ASSOCIATES PETERSFIELD LTD (REGISTERED NUMBER: 11210449) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 July 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | PREFERENCE SHARES |
The company repaid £500 (2023 - £nil) of the 5% redeemable preference shares in the year. Dividends paid in the year totalled £1,000 and an interest payment of £492 was also paid. |