Company Registration No. SC295349 (Scotland)
Filipetti Ltd.
Unaudited accounts
for the year ended 31 July 2017
Filipetti Ltd.
Unaudited accounts
Contents
Filipetti Ltd.
Company Information
for the year ended 31 July 2017
Company Number
SC295349 (Scotland)
Registered Office
115 Wellhall Rd
Hamilton
Lanarkshire
ML3 9XN
Scotland
Accountants
Aird Sakol Ltd
8 Benview Road
Clarkston Toll
Glasgow
G76 7PP
Filipetti Ltd.
Statement of financial position
as at
31 July 2017
Intangible assets
62,220
62,220
Tangible assets
14,709
15,979
Inventories
42,114
46,780
Cash at bank and in hand
(17,545)
(17,111)
Creditors: amounts falling due within one year
(60,594)
(66,631)
Net current liabilities
(35,879)
(37,182)
Called up share capital
100
100
Profit and loss account
40,950
40,917
Shareholders' funds
41,050
41,017
For the year ending 31 July 2017 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.
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.
Approved by the Board on 17 April 2018.
Hamid Kamran
Director
Company Registration No. SC295349
Filipetti Ltd.
Notes to the Accounts
for the year ended 31 July 2017
Filipetti Ltd. is a private company, limited by shares, registered in Scotland, registration number SC295349. The registered office is 115 Wellhall Rd, Hamilton, Lanarkshire, ML3 9XN, Scotland.
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.
These financial statements for the year ended 31 July 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Filipetti Ltd.
Notes to the Accounts
for the year ended 31 July 2017
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2016
10,605
11,000
3,300
24,905
At 31 July 2017
10,605
11,000
3,300
24,905
At 1 August 2016
-
6,360
2,566
8,926
Charge for the year
-
1,160
110
1,270
At 31 July 2017
-
7,520
2,676
10,196
At 31 July 2017
10,605
3,480
624
14,709
At 31 July 2016
10,605
4,640
734
15,979
Finished goods
42,114
46,780
Accrued income and prepayments
231
-
Filipetti Ltd.
Notes to the Accounts
for the year ended 31 July 2017
8
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
8,016
12,382
Other creditors
16,477
12,313
Loans from directors
36,101
41,936
9
Share capital
2017
2016
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company is controlled by Hamid Kamran.
11
Average number of employees
During the year the average number of employees was 8 (2016: 8).