Bambino Mio Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03364441 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

BAMBINO MIO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G J Schanschieff MBE, DL.

REGISTERED OFFICE:

12 Staveley Way

Brixworth

Northampton

Northamptonshire

NN6 9EU

REGISTERED NUMBER:

03364441 (England and Wales)

ACCOUNTANTS:

HW Huntingdon Limited

2a Chequers Court

Huntingdon

Cambridgeshire

PE29 3LJ

SOLICITORS:

Howes Percival LLP

Nene House

4 Rushmills

Northampton

NN4 7YB

FIXED ASSETS

Intangible assets

4

42,027

56,499

Tangible assets

5

138,124

124,488

180,151

180,987

CURRENT ASSETS

Stocks

1,026,261

1,125,260

Debtors

6

1,621,268

531,462

Cash at bank

13,440

4,287

2,660,969

1,661,009

CREDITORS

Amounts falling due within one year

7

1,016,520

1,017,322

NET CURRENT ASSETS

1,644,449

643,687

TOTAL ASSETS LESS CURRENT LIABILITIES

1,824,600

824,674

PROVISIONS FOR LIABILITIES

10

32,054

30,674

NET ASSETS

1,792,546

794,000

CAPITAL AND RESERVES

Called up share capital

11

10,000

10,000

Retained earnings

1,782,546

784,000

SHAREHOLDERS' FUNDS

1,792,546

794,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 applicable to companies subject to the small companies regime.

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 24 February 2020 and were signed by:

G J Schanschieff MBE, DL. - Director

1.	STATUTORY INFORMATION

Bambino Mio 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is the total amount receivable by the company for goods supplied and services provided, excluding

VAT and trade discounts.

Trademarks

Trademarks will be written off on a straight line basis over their estimated useful economic life of 10 years.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making

due allowances 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2018 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 December 2018

147,233

Additions

13,031

Disposals

(2,746

)

At 30 November 2019

157,518

AMORTISATION

At 1 December 2018

90,734

Charge for year

24,757

At 30 November 2019

115,491

NET BOOK VALUE

At 30 November 2019

42,027

At 30 November 2018

56,499

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 December 2018

103,640

13,175

52,691

169,506

Additions

3,788

2,858

41,864

48,510

At 30 November 2019

107,428

16,033

94,555

218,016

DEPRECIATION

At 1 December 2018

12,121

9,138

23,759

45,018

Charge for year

10,140

3,061

21,673

34,874

At 30 November 2019

22,261

12,199

45,432

79,892

NET BOOK VALUE

At 30 November 2019

85,167

3,834

49,123

138,124

At 30 November 2018

91,519

4,037

28,932

124,488

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

1,483,269

467,528

Other debtors

137,999

63,934

1,621,268

531,462

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Bank loans and overdrafts

158,447

255,477

Trade creditors

361,630

253,048

Taxation and social security

312,519

165,921

Other creditors

183,924

342,876

1,016,520

1,017,322

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.11.19

30.11.18

£

£

Within one year

28,508

25,673

Between one and five years

24,429

31,666

52,937

57,339

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.19

30.11.18

£

£

Bank overdrafts

158,447

255,477

The Bank overdrafts are secured by a fixed and floating charge over all the assets and undertakings of the

company.

10.	PROVISIONS FOR LIABILITIES

30.11.19

30.11.18

£

£

Deferred tax

32,054

30,674

Deferred

tax

£

Balance at 1 December 2018

30,674

Provided during year

1,380

Accelerated capital allowances

Balance at 30 November 2019

32,054

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.19

30.11.18

value:

£

£

10,000

Ordinary

£1

10,000

10,000

12.	RELATED PARTY DISCLOSURES

During the year ended 30 November 2019, the company paid Mr G Schanschieff £21,500 (2018 - £21,500) for

the rental of business premises. The company also paid £20,000 (2018 - £20,000) for the rental of business

premises to the director's pension fund.

Included within creditors: amounts falling due within one year is £1,079 owed to the Director (2018 -

£220).This loan is unsecured, interest free and repayable on demand.

13.	ULTIMATE CONTROLLING PARTY

Mr G J Schanschieff is the ultimate controlling party by virtue of his office and shareholding.