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REGISTERED NUMBER: 07300339 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Italian Terrace Collection Ltd

The Italian Terrace Collection Ltd (Registered number: 07300339)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


The Italian Terrace Collection Ltd

Company Information
for the year ended 31 December 2024







DIRECTORS: A Brunel
Mrs B Aloisi De Crepy





REGISTERED OFFICE: 8 Manor Park
Church Road
Gt Barton
Bury St Edmunds
Suffolk
IP31 2QR





REGISTERED NUMBER: 07300339 (England and Wales)





ACCOUNTANTS: KPSK Accounts and Tax Limited
8 Manor Park
Church Road
Gt Barton
Bury St Edmunds
Suffolk
IP31 2QR

The Italian Terrace Collection Ltd (Registered number: 07300339)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £   
CURRENT ASSETS
Debtors 5 47,113 54,975
Cash at bank 242,966 751,457
290,079 806,432
CREDITORS
Amounts falling due within one year 6 178,053 234,781
NET CURRENT ASSETS 112,026 571,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,026

571,651

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 87,026 546,651
SHAREHOLDERS' FUNDS 112,026 571,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





A Brunel - Director


The Italian Terrace Collection Ltd (Registered number: 07300339)

Notes to the Financial Statements
for the year ended 31 December 2024


1. STATUTORY INFORMATION

The Italian Terrace Collection Ltd 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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 statement of financial position date.

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 NIL (2023 - NIL).

The Italian Terrace Collection Ltd (Registered number: 07300339)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2024 11,483
Disposals (11,483 )
At 31 December 2024 -
DEPRECIATION
At 1 January 2024 11,483
Eliminated on disposal (11,483 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 46,847 49,244
Other debtors - 5,374
VAT - 94
Prepayments and accrued income 266 263
47,113 54,975

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 9,275 11,345
Tax 46,842 33,558
VAT 1,143 -
Directors' loan accounts - 98,846
Accrued expenses 120,793 91,032
178,053 234,781