IMMOBILIARE LAZIALE LIMITED - Period Ending 2021-12-31

IMMOBILIARE LAZIALE LIMITED - Company Information

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Registration number: 03564440

IMMOBILIARE LAZIALE LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

IMMOBILIARE LAZIALE LIMITED

Contents

Company Information	1
Directors' Report	2
Profit and Loss Account	3
Statement of Comprehensive Income	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Unaudited Financial Statements	7 to 9
Detailed Profit and Loss Account	10 to 11

IMMOBILIARE LAZIALE LIMITED

Company Information

Directors

Woodford Directors Limited

Mrs Rosa Conti

Company secretary

Woodford Services Limited

Registered office

5/6 The Shrubberies
George Lane
South Woodford
London
E18 1BG

IMMOBILIARE LAZIALE LIMITED

Directors' Report for the Year Ended 31 December 2021

The directors present their report and the financial statements for the year ended 31 December 2021.

Directors of the company

The directors who held office during the year were as follows:

Woodford Directors Limited

Mrs Rosa Conti

Principal activity

The principal activity of the company is that of an investment property holder.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 December 2022 and signed on its behalf by:

.........................................
Mrs Rosa Conti
Director

IMMOBILIARE LAZIALE LIMITED

Profit and Loss Account for the Year Ended 31 December 2021

	Note	2021 £	2020 £
Turnover		-	-
Gross profit/(loss)		-	-
Administrative expenses		(4,250)	(4,950)
Operating loss		(4,250)	(4,950)
Loss before tax		(4,250)	(4,950)
Loss for the financial year		(4,250)	(4,950)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

IMMOBILIARE LAZIALE LIMITED

Statement of Comprehensive Income for the Year Ended 31 December 2021

	2021 £	2020 £
Loss for the year	(4,250)	(4,950)
Total comprehensive income for the year	(4,250)	(4,950)

IMMOBILIARE LAZIALE LIMITED

(Registration number: 03564440)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Fixed assets
Investment property	4	461,667	461,667
Current assets
Debtors	5	-	3,150
Creditors: Amounts falling due within one year	6	(58,957)	(57,857)
Net current liabilities		(58,957)	(54,707)
Net assets		402,710	406,960
Capital and reserves
Called up share capital	7	462,001	462,001
Retained earnings		(59,291)	(55,041)
Shareholders' funds		402,710	406,960

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 14 December 2022 and signed on its behalf by:

.........................................
Mrs Rosa Conti
Director

IMMOBILIARE LAZIALE LIMITED

Statement of Changes in Equity for the Year Ended 31 December 2021

	Share capital £	Profit and loss account £	Total £
At 1 January 2021	462,001	(55,041)	406,960
Loss for the year	-	(4,250)	(4,250)
Total comprehensive income	-	(4,250)	(4,250)
At 31 December 2021	462,001	(59,291)	402,710

	Share capital £	Retained earnings £	Total £
At 1 January 2020	462,001	(50,091)	411,910
Loss for the year	-	(4,950)	(4,950)
At 31 December 2020	462,001	(55,041)	406,960

IMMOBILIARE LAZIALE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5/6 The Shrubberies
George Lane
South Woodford
London
E18 1BG
England

These financial statements were authorised for issue by the Board on 14 December 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

IMMOBILIARE LAZIALE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2020 - 1).

4	Investment properties

	2021 £
At 1 January	461,667
At 31 December	461,667

There has been no valuation of investment property by an independent valuer. The directors consider the value is at least as stated.

Debtors

Current	2021 £	2020 £
Prepayments	-	3,150

IMMOBILIARE LAZIALE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Accruals and deferred income	1,000	-
Other creditors	57,957	57,857
	58,957	57,857

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	334	334	334	334
Ordinary shares of £333.33 each	1,385	461,666.21	1,385	461,666.21
	1,719	462,000	1,719	462,000

8	Related party transactions

Loans from related parties

2021	Other related parties £	Total £
At start of period	57,107	57,107
Advanced	850	850
At end of period	57,957	57,957

2020	Other related parties £	Total £
At start of period	52,157	52,157
Advanced	4,950	4,950
At end of period	57,107	57,107

Terms of loans from related parties

Shareholder financing, interest free, no repayment date specified.

IMMOBILIARE LAZIALE LIMITED

Detailed Profit and Loss Account for the Year Ended 31 December 2021

	2021 £	2020 £
Turnover (analysed below)	-	-
Administrative expenses
General administrative expenses (analysed below)	(4,250)	(4,950)
Operating loss	(4,250)	(4,950)
Loss before tax	(4,250)	(4,950)

IMMOBILIARE LAZIALE LIMITED

Detailed Profit and Loss Account for the Year Ended 31 December 2021

2021
£

2020
£


General administrative expenses
Accountancy fees	(1,100)	(750)
Management fees	(3,150)	(4,200)
	(4,250)	(4,950)