COMPANY REGISTRATION NUMBER:
09270382
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Statement of Financial Position |
|
31 December 2024
Fixed assets
Current assets
|
Cash at bank and in hand |
5,454 |
|
2,342 |
|
|
|
|
|
Creditors: amounts falling due within one year |
9,851 |
|
8,518 |
|
------- |
|
------- |
|
Net current liabilities |
|
4,397 |
6,176 |
|
|
------- |
------- |
|
Total assets less current liabilities |
|
(
3,992) |
(
6,091) |
|
|
------- |
------- |
|
Net liabilities |
|
(
3,992) |
(
6,091) |
|
|
------- |
------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
2 |
2 |
|
Profit and loss account |
|
(
3,994) |
(
6,093) |
|
|
------- |
------- |
|
Shareholders deficit |
|
(
3,992) |
(
6,091) |
|
|
------- |
------- |
|
|
|
|
These abridged 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 December 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 abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.
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Abridged Statement of Financial Position (continued) |
|
31 December 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
5 September 2025
, and are signed on behalf of the board by:
Company registration number:
09270382
|
Notes to the Abridged Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 277 - 279 Chiswick High Road, Chiswick, London, W4 4PU.
2.
Statement of compliance
These abridged 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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 January 2024 |
1,129 |
|
Additions |
455 |
|
------- |
|
At 31 December 2024 |
1,584 |
|
------- |
|
Depreciation |
|
|
At 1 January 2024 |
1,044 |
|
Charge for the year |
135 |
|
------- |
|
At 31 December 2024 |
1,179 |
|
------- |
|
Carrying amount |
|
|
At 31 December 2024 |
405 |
|
------- |
|
At 31 December 2023 |
85 |
|
------- |
|
|
5.
Director's advances, credits and guarantees
At the year end, the company owed Mr Francesco Ragni £9,167 (2023: £8,014).
6.
Related party transactions
The company was under the control of Mr Francesco Ragni throughout the current and the previous year. During the year Mr Francesco Ragni received no dividend.