Tre Figlie Limited - Period Ending 2019-12-31

Tre Figlie Limited - Period Ending 2019-12-31


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Tre Figlie Limited

Annual Report and Unaudited Financial Statements
Period from 31 July 2018 to 31 December 2019

Registration number: 11491663

 

Tre Figlie Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Tre Figlie Limited

Balance Sheet

31 December 2019

Note

2019
£

Fixed assets

 

Investment property

4

465,325

Current assets

 

Debtors

5

2,704

Cash at bank and in hand

 

2,709

 

5,413

Creditors: Amounts falling due within one year

6

(7,085)

Net current liabilities

 

(1,672)

Total assets less current liabilities

 

463,653

Creditors: Amounts falling due after more than one year

6

(297,982)

Net assets

 

165,671

Capital and reserves

 

Called up share capital

8

100

Share premium reserve

165,543

Profit and loss account

28

Total equity

 

165,671

 

Tre Figlie Limited

Balance Sheet

31 December 2019

For the financial period ending 31 December 2019 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 July 2020
 

.........................................
J M Watts
Director

   
     

Company Registration Number: 11491663

 

Tre Figlie Limited

Notes to the Unaudited Financial Statements

Period from 31 July 2018 to 31 December 2019

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Towngate House
2-8 Parkstone Road
Poole
Dorset
BH15 2PW

The principal place of business is:
20a Mentone Road
Poole
Dorset
BH14 8AU

These financial statements were authorised for issue by the director on 30 July 2020.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Tre Figlie Limited

Notes to the Unaudited Financial Statements

Period from 31 July 2018 to 31 December 2019

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investment properties

2019
£

Additions

465,325

There has been no valuation of investment property by an independent valuer.

 

Tre Figlie Limited

Notes to the Unaudited Financial Statements

Period from 31 July 2018 to 31 December 2019

5

Debtors

2019
£

Other debtors

2,704

2,704

6

Creditors

Creditors: amounts falling due within one year

Note

2019
£

Due within one year

 

Corporation tax

3,525

Other creditors

 

760

Accrued expenses

 

2,800

 

7,085

Creditors: amounts falling due after more than one year

Note

2019
£

Due after one year

 

Loans and borrowings

7

297,982

7

Loans and borrowings

2019
£

Loans and borrowings due after one year

Bank borrowings

297,982

8

Share capital

Allotted, called up and fully paid shares

 

2019

 

No.

£

Ordinary Shares of £1 each

100

100