0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 5,104 2,167 1,021 3,188 1,916 2,937 xbrli:pure xbrli:shares iso4217:GBP 10833484 2024-04-01 2025-03-31 10833484 2025-03-31 10833484 2024-03-31 10833484 2023-04-01 2024-03-31 10833484 2024-03-31 10833484 2023-03-31 10833484 bus:Director1 2024-04-01 2025-03-31 10833484 core:WithinOneYear 2025-03-31 10833484 core:WithinOneYear 2024-03-31 10833484 core:ShareCapital 2025-03-31 10833484 core:ShareCapital 2024-03-31 10833484 core:RetainedEarningsAccumulatedLosses 2025-03-31 10833484 core:RetainedEarningsAccumulatedLosses 2024-03-31 10833484 bus:SmallEntities 2024-04-01 2025-03-31 10833484 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 10833484 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10833484 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10833484 bus:FullAccounts 2024-04-01 2025-03-31 10833484 core:OfficeEquipment 2025-03-31 10833484 core:OfficeEquipment 2024-03-31 10833484 core:OfficeEquipment 2024-04-01 2025-03-31 10833484 core:KeyManagementPersonnel 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: 10833484
Prato Milano Limited
Filleted Unaudited Financial Statements
31 March 2025
Prato Milano Limited
Financial Statements
Year ended 31 March 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Prato Milano Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
1,916
2,937
Current assets
Cash at bank and in hand
13,636
20,418
Creditors: amounts falling due within one year
6
7,049
15,159
--------
--------
Net current assets
6,587
5,259
-------
-------
Total assets less current liabilities
8,503
8,196
-------
-------
Net assets
8,503
8,196
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
8,502
8,195
-------
-------
Shareholder funds
8,503
8,196
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has 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 Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 August 2025 , and are signed on behalf of the board by:
G Polidori
Director
Company registration number: 10833484
Prato Milano Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
5 Years Straight Line Policy
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1).
5. Tangible assets
Equipment
£
Cost
At 1 April 2024 and 31 March 2025
5,104
-------
Depreciation
At 1 April 2024
2,167
Charge for the year
1,021
-------
At 31 March 2025
3,188
-------
Carrying amount
At 31 March 2025
1,916
-------
At 31 March 2024
2,937
-------
6. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
5,589
1,220
Other creditors
1,460
13,939
-------
--------
7,049
15,159
-------
--------
7. Related party transactions
At the year end the company owed the director £135 (2024: £12,689).