Company Registration No. SC295349 (Scotland)
Filipetti Ltd.
Unaudited accounts
for the year ended 31 July 2018
Filipetti Ltd.
Statement of financial position
as at
31 July 2018
Intangible assets
62,220
62,220
Tangible assets
17,573
14,709
Inventories
40,185
42,114
Cash at bank and in hand
(25,191)
(17,545)
Creditors: amounts falling due within one year
(47,984)
(60,594)
Net current liabilities
(32,746)
(35,879)
Called up share capital
100
100
Profit and loss account
46,947
40,950
Shareholders' funds
47,047
41,050
For the year ending 31 July 2018 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 11 April 2019.
Hamid Kamran
Director
Company Registration No. SC295349
Filipetti Ltd.
Notes to the Accounts
for the year ended 31 July 2018
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.
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.
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.
4
Intangible fixed assets
Goodwill
Filipetti Ltd.
Notes to the Accounts
for the year ended 31 July 2018
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2017
10,605
11,000
3,300
24,905
Additions
-
-
4,788
4,788
Disposals
-
-
(1,500)
(1,500)
At 31 July 2018
10,605
11,000
6,588
28,193
At 1 August 2017
-
7,520
2,676
10,196
Charge for the year
-
870
(446)
424
At 31 July 2018
-
8,390
2,230
10,620
At 31 July 2018
10,605
2,610
4,358
17,573
At 31 July 2017
10,605
3,480
624
14,709
Finished goods
40,185
42,114
Accrued income and prepayments
231
231
8
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
9,713
8,016
Other creditors
15,920
16,477
Loans from directors
22,351
36,101
9
Share capital
2018
2017
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company is controlled by Hamid Kamran.
Filipetti Ltd.
Notes to the Accounts
for the year ended 31 July 2018
11
Average number of employees
During the year the average number of employees was 8 (2017: 8).