Company Registration No. 09735137 (England and Wales)
ItalSpirits Limited
Unaudited accounts
for the year ended 31 August 2020
ItalSpirits Limited
Unaudited accounts
Contents
ItalSpirits Limited
Company Information
for the year ended 31 August 2020
Company Number
09735137 (England and Wales)
Registered Office
Studio 34
65 Alfred Road
London
W2 5EU
England
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
ItalSpirits Limited
Statement of financial position
as at 31 August 2020
Tangible assets
1,381
3,052
Cash at bank and in hand
190,334
345,150
Creditors: amounts falling due within one year
(47,500)
(136,220)
Net current assets
164,214
313,097
Net assets
179,382
324,936
Called up share capital
100
100
Profit and loss account
179,282
324,836
Shareholders' funds
179,382
324,936
For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 May 2021 and were signed on its behalf by
Giuseppe Gallo
Director
Company Registration No. 09735137
ItalSpirits Limited
Notes to the Accounts
for the year ended 31 August 2020
ItalSpirits Limited is a private company, limited by shares, registered in England and Wales, registration number 09735137. The registered office is Studio 34, 65 Alfred Road , London, W2 5EU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Computer equipment
33% Straight Line
The financial statements have been prepared on a going concern basis.
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Total
ItalSpirits Limited
Notes to the Accounts
for the year ended 31 August 2020
At the year end, Pension Commitments of £435 were outstanding.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan Account
49,233
658
50,141
(250)
7
Transactions with related parties
Included in Amounts owed to group undertakings and other participating interests is £48 due to Italicus Limited (2019: £18,965).
The Other Creditors in note 7 includes a director's loan, which amounts to £250, per note 6 (2019: £49,233).
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Average number of employees
During the year the average number of employees was 3 (2019: 3).
