Abbreviated Company Accounts - BORGO ALLE VIGNE MANAGEMENT (UK) LIMITED

BORGO ALLE VIGNE MANAGEMENT (UK) LIMITED - Company Information

Registered Number 08725443

BORGO ALLE VIGNE MANAGEMENT (UK) LIMITED

Abbreviated Accounts

31 October 2014

BORGO ALLE VIGNE MANAGEMENT (UK) LIMITED Registered Number 08725443

Abbreviated Balance Sheet as at 31 October 2014

	Notes	2014
		£
Fixed assets
Investments	2	1,615,128
		1,615,128
Current assets
Debtors		2,742,097
Cash at bank and in hand		152,549
		2,894,646
Creditors: amounts falling due within one year	3	(12,603)
Net current assets (liabilities)		2,882,043
Total assets less current liabilities		4,497,171
Creditors: amounts falling due after more than one year	3	(5,166,000)
Total net assets (liabilities)		(668,829)
Capital and reserves
Called up share capital		1
Profit and loss account		(668,830)
Shareholders' funds		(668,829)

For the year ending 31 October 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 9 July 2015

And signed on their behalf by:
Best Asset Management Ltd, Director

BORGO ALLE VIGNE MANAGEMENT (UK) LIMITED Registered Number 08725443

Notes to the Abbreviated Accounts for the period ended 31 October 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover comprises revenue recognised by the company in respect of overseas resort management
services supplied during the period, exclusive of Value Added Tax and trade discounts.

Valuation information and policy
Investments
Investments held as fixed assets are shown at cost less provision for impairment.

Other accounting policies
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Profit and loss account.
Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

OPERATING LEASE COMMITMENTS
At 31 October 2014 the company did not have annual commitments under non-cancellable operating leases.

RELATED PARTY TRANSACTIONS
Included within other debtors is £266,048 outstanding from Best Asset Management Ltd. Best Asset Management Ltd is a corporate director with 50% ownership in Borgo Alle Vigne Management (UK) Limited.
During the accounting period the company received a loan of £4,301,000 from its wholly owned subsidiary Best Bav Vigne Management (UK) Limited. The loan is included in non-current liabilities and no repayments have been made during the period.
Per loan agreement the annual interest on the loan is 7.24% calculated on quarterly basis. No interest has been accrued for or paid in the period.

ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY
The directors are of the opinion that no one individual has overall control of the entity.

2Fixed assets Investments
Investments in associates

3Creditors

	2014 £
Secured Debts	5,166,000