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Registration number: 11937601

Piccole Forbici Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Piccole Forbici Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Piccole Forbici Ltd

Company Information

Director

Mrs Dandan Song

Company secretary

Mrs Dandan Song

Registered office

7 Bell Yard
London
WC2A 2JR

Accountants

ION Accountancy Services LLP
Chartered Accountants85 Great Portland Street
First Floor
London
W1W 7LT

 

Piccole Forbici Ltd

(Registration number: 11937601)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

116,077

106,606

Debtors

5

5,228

-

 

121,305

106,606

Creditors: Amounts falling due within one year

6

(126,714)

(104,430)

Net (liabilities)/assets

 

(5,409)

2,176

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(5,410)

2,175

Shareholders' (deficit)/funds

 

(5,409)

2,176

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 her 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 April 2025
 

.........................................
Mrs Dandan Song
Company secretary and director

 

Piccole Forbici Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in the UK.

The address of its registered office is:
7 Bell Yard
London
WC2A 2JR
United Kingdom

These financial statements were authorised for issue by the director on 29 April 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 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 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.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Piccole Forbici Ltd

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 1 (2023 - 1).

 

Piccole Forbici Ltd

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

4

Stocks

2024
£

2023
£

Merchandise

116,077

106,606

5

Debtors

Current

2024
£

2023
£

Other debtors

5,228

-

 

5,228

-

 

Piccole Forbici Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

22

-

Taxation and social security

 

155

1,123

Other creditors

 

126,537

103,307

 

126,714

104,430

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

1

1

1

1

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

22

-

9

Related party transactions

Key management compensation

2024
£

2023
£

Salaries and other short term employee benefits

9,044

8,784

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,044

8,784

Loans from related parties

 

Piccole Forbici Ltd

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

2024

Key management
£

Total
£

At start of period

103,307

103,307

Advanced

23,231

23,231

At end of period

126,538

126,538

2023

Key management
£

Total
£

At start of period

14,974

14,974

Advanced

88,333

88,333

At end of period

103,307

103,307