Agape Investimenti Limited - Accounts to registrar (filleted) - small 18.2

AGAPE INVESTIMENTI LIMITED

Financial Statements

for the Year Ended 30 November 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

Jean-Sebastien Decaux

Registered office:

15 Appold St

London

EC2A 2HB

Registered number:

07075954 (England and Wales)

Fixed assets

Tangible assets

4

217,011

523,027

Current assets

Debtors

5

23,484

16,484

Cash at bank and in hand

126,429

34,167

149,913

50,651

Creditors

Amounts falling due within one year

6

14,950,895

14,343,895

Net current liabilities

(14,800,982

)

(14,293,244

)

Total assets less current liabilities

(14,583,971

)

(13,770,217

)

Capital and reserves

Called up share capital

8

1

1

Retained earnings

9

(14,583,972

)

(13,770,218

)

Shareholders' funds

(14,583,971

)

(13,770,217

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 16 December 2019 and were signed by:

Jean-Sebastien Decaux - Director

1.	Statutory information

Agape Investimenti Limited 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.

Set out below is a summary of the principal accounting policies, all of which have been applied consistently

(except as otherwise stated).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to

continue in operational existence for the foreseeable future. For this reason, he continues to adopt the going

concern basis in preparing the financial statements.

Financial instruments

Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions

of the financial instrument. The company has chosen to apply the provisions of Section 11 Basic Financial

Instruments and Section 12 Other Financial Instruments in full.

Financial assets - classified as basic financial instruments

(i) Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly

liquid investments with original maturities of three months or less.

(ii) Trade and other receivables.

Trade and other receivables are initially recognised at the transaction price, including any transaction costs,

and subsequently measured at amortised cost including the effective interest method, less any provision for

impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash

expected to be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that an

receivable amount may be impaired. A provision for impairment 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.

The amount of the provision is the difference between the asset's carrying amount and the present value of the

estimated future cash flows, discounted at the effective interest rate. The amount of the provision is

recognised immediately in profit or loss.

3.	Employees and directors

The average number of employees during the year was 2 (2018 - 2 ) .

4.	Tangible fixed assets

Plant and

machinery

€

Cost

At 1 December 2018

and 30 November 2019

3,068,344

Depreciation

At 1 December 2018

2,544,573

Charge for year

306,760

At 30 November 2019

2,851,333

Net book value

At 30 November 2019

217,011

At 30 November 2018

523,771

5.

Debtors: amounts falling due within one year

2019

2018

€

€

Called up share capital not paid

1

1

Prepayments and accrued income

23,483

16,483

23,484

16,484

6.

Creditors: amounts falling due within one year

2019

2018

€

€

Other loans (see note 7)

2,500,000

2,500,000

Directors' loan accounts

12,445,895

11,843,895

Accruals and deferred income

5,000

-

14,950,895

14,343,895

7.

Loans

An analysis of the maturity of loans is given below:

2019

2018

€

€

Amounts falling due within one year or on demand:

Other loans

2,500,000

2,500,000

8.	Called up share capital

Allotted and issued:

Number:

Class:

Nominal

2019

2018

value:

€

€

1

Share capital 1

1.00

1

1

9.

Reserves

Retained

earnings

€

At 1 December 2018

(13,770,218

)

Deficit for the year

(813,754

)

At 30 November 2019

(14,583,972

)

10.	Director's advances, credits and guarantees

At the balance sheet date Jean-Sebastien Decaux was owed €12,445,895 (2018 - €11,843,995), there are no

fixed terms for repayment and the loans are interest free.

11.	Ultimate controlling party

The ultimate controlling party is Jean-Sebastien Decaux.

M. Jean-Sebastien Decaux has confirmed that he will provide continuing support for the company for the

foreseeable future.