Company registration number 06215826 (England and Wales)
ITALSED UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ITALSED UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ITALSED UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
423
545
Current assets
Stocks
22,150
24,120
Debtors
4
57,449
58,662
Cash at bank and in hand
4,500
15,238
84,099
98,020
Creditors: amounts falling due within one year
5
(198,793)
(207,957)
Net current liabilities
(114,694)
(109,937)
Net liabilities
(114,271)
(109,392)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(114,371)
(109,492)
Total equity
(114,271)
(109,392)

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 1 May 2025
Mr MS Mills
Director
Company registration number 06215826 (England and Wales)
ITALSED UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Italsed UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 King Street, Kings Lynn, Norfolk, England, PE30 1ET.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or 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
- 20% reducing balance
Computers
- 25% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
ITALSED UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
3,123
Depreciation and impairment
At 1 January 2024
2,578
Depreciation charged in the year
122
At 31 December 2024
2,700
Carrying amount
At 31 December 2024
423
At 31 December 2023
545
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
51,197
58,147
Other debtors
6,252
515
57,449
58,662
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
197,186
206,497
Taxation and social security
317
241
Other creditors
1,290
1,219
198,793
207,957
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