Il Vicolo Limited - Accounts to registrar (filleted) - small 18.2

Il Vicolo Limited - Accounts to registrar (filleted) - small 18.2

IL VICOLO LIMITED - Company Information

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REGISTERED NUMBER: 06823395 (England and Wales)























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

IL VICOLO LIMITED
IL VICOLO LIMITED (REGISTERED NUMBER: 06823395)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


IL VICOLO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTOR: Mr G Bonavita





SECRETARY: Mr G Bonavita





REGISTERED OFFICE: 39 Hendon Lane
Finchley
London
N3 1RY





REGISTERED NUMBER: 06823395 (England and Wales)





ACCOUNTANTS: Guner Associates
Chartered Accountants
39 Hendon Lane
Finchley
London
N3 1RY
Page 1
IL VICOLO LIMITED (REGISTERED NUMBER: 06823395)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MARCH 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,116 7,645

CURRENT ASSETS
Stocks 1,635 1,581
Debtors 44,392 44,699
Cash at bank 205,404 174,873
251,431 221,153
CREDITORS
Amounts falling due within one year 139,832 91,553
NET CURRENT ASSETS 111,599 129,600
TOTAL ASSETS LESS CURRENT
LIABILITIES
117,715
137,245

PROVISIONS FOR LIABILITIES 6 1,162 -
NET ASSETS 116,553 137,245

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 116,453 137,145
SHAREHOLDERS' FUNDS 116,553 137,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 February 2019 and were signed by:




Mr G Bonavita - Director


The notes form part of these financial statements

Page 2
IL VICOLO LIMITED (REGISTERED NUMBER: 06823395)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1. STATUTORY INFORMATION

Il Vicolo 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

Page 3 continued...
IL VICOLO LIMITED (REGISTERED NUMBER: 06823395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2017
and 31 March 2018 41,055
DEPRECIATION
At 1 April 2017 33,410
Charge for year 1,529
At 31 March 2018 34,939
NET BOOK VALUE
At 31 March 2018 6,116
At 31 March 2017 7,645

6. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 1,162 -

Deferred
tax
£   
Provided during year 1,162
Balance at 31 March 2018 1,162

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary shares £1 100 100

8. RESERVES
Retained
earnings
£   

At 1 April 2017 137,145
Profit for the year 151,308
Dividends (172,000 )
At 31 March 2018 116,453

Page 4 continued...
IL VICOLO LIMITED (REGISTERED NUMBER: 06823395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

9. RELATED PARTY DISCLOSURES

Mr G Bonavita
Director and shareholder


Dividends of £86,000 (2017: £61,500) was paid to the director.

2018 2017
£    £   
Amount due to related party at the balance sheet date 380 674

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G Bonavita.

The ultimate controlling party is Mr G Bonavita.

Page 5