INTERNATIONAL PROVISIONS LTD - Accounts

INTERNATIONAL PROVISIONS LTD - Accounts

INTERNATIONAL PROVISIONS LTD - Company Information

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Registered Number: 12401955


 

 

 

INTERNATIONAL PROVISIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 14 January 2020

End date: 31 January 2021

INTERNATIONAL PROVISIONS LTD
Contents Page
For the period ended 31 January 2021
Director Giorgio LUSSO ROVETO
Registered Number 12401955
Registered Office 1000 North Circular Road
London
United Kingdom
NW7 7JP
Accountants Edgware Accountants and Tax Advisors Ltd
Liberty House
30 Whitchurch Lane
Edgware
HA8 6LE
1
The directors present their annual report and the financial statements for the year ended 31 January 2021.
Principal activities
Principal activity of the company during the financial period was of ...
Director
The director who served the company throughout the period was as follows:
Giorgio LUSSO ROVETO
Statement of director's responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Giorgio LUSSO ROVETO
Director

Date approved: 13 October 2021
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 January 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Edgware Accountants and Tax Advisors Ltd
31 January 2021



....................................................
Edgware Accountants and Tax Advisors Ltd
Liberty House
30 Whitchurch Lane
Edgware
HA8 6LE
13 October 2021
3
 
 		 Notes
 		 2021
£
Current assets    
Stocks 3 4,993 
Cash at bank and in hand 46,361 
51,354 
Creditors: amount falling due within one year 4 (14,706)
Net current assets 36,648 
 
Total assets less current liabilities 36,648 
Creditors: amount falling due after more than one year 5 (35,500)
Net assets 1,148 
 

Capital and reserves 		   
Called up share capital 100 
Profit and loss account 1,048 
Shareholder's funds 1,148 
 


For the period ended 31 January 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 13 October 2021 and were signed by:


--------------------------------
Giorgio LUSSO ROVETO
Director
4
  Equity share capital   Capital redemption reserve   Retained Earnings   Total
£ £ £ £
At 14 January 2020 - 
Profit for the period 1,048  1,048 
Total comprehensive income for the period -  -  1,048  1,048 
Shares issued 100  100 
Total investments by and distributions to owners 100  -  -  100 
At 31 January 2021 100  1,048  1,148 
5
General Information
INTERNATIONAL PROVISIONS LTD is a private company, limited by shares, registered in , registration number 12401955, registration address 1000 North Circular Road, London, United Kingdom, NW7 7JP

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 1.
3.

Stocks

2021
£
Stocks 4,993 
4,993 

4.

Creditors: amount falling due within one year

2021
£
Trade Creditors 4,458 
Corporation Tax 246 
Wages & Salaries Control Account 7,111 
Directors' Current Accounts 2,891 
14,706 

5.

Creditors: amount falling due after more than one year

2021
£
Bank Loans & Overdrafts 30,000 
Other Creditors 5,500 
35,500 

6