ACCOUNTS - Final Accounts

CHRISTOPHER DE GABRIELE LIMITED - Company Information

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Registered number: 09130190

CHRISTOPHER DE GABRIELE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021

CHRISTOPHER DE GABRIELE LIMITED

REGISTERED NUMBER: 09130190

BALANCE SHEET

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		741		-
			741		-
Current assets
Debtors: amounts falling due within one year	5	3,785		1,454
Cash at bank and in hand	6	2,485		9,034
		6,270		10,488
Creditors: amounts falling due within one year	7	(5,349)		(7,993)
Net current assets			921		2,495
Total assets less current liabilities			1,662		2,495

Net assets			1,662		2,495

Capital and reserves
Called up share capital	1	1
Profit and loss account	1,661	2,494
	1,662	2,495

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 December 2021.

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CHRISTOPHER DE GABRIELE LIMITED

REGISTERED NUMBER: 09130190

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

C P DE GABRIELE

Director

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CHRISTOPHER DE GABRIELE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

The Company is limited by shares and incorporated in England. The address of the registered office is given in the company information on the cover page of these financial statements.
The company's principal activity is Tailoring and Fashion design.

The Financial statements are presented in sterling which is the functional currency of the company and rounded to nearest £.
The significant accounting policies applied in the preparation of this financial statement are set out below. These policies have been consistently applied to all years presented.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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CHRISTOPHER DE GABRIELE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

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CHRISTOPHER DE GABRIELE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	Additions	988
	At 31 March 2021	988
	Depreciation
	Charge for the year on owned assets	247
	At 31 March 2021	247
	Net book value
	At 31 March 2021	741
	At 31 March 2020	-

Debtors

					2021	2020
					£	£


Trade debtors	3,785	1,454
	3,785	1,454

6.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	2,485	9,033
	2,485	9,033

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CHRISTOPHER DE GABRIELE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	3,735	6,258
Other creditors	114	235
Accruals and deferred income	1,500	1,500
	5,349	7,993

8.	Controlling party

During the year ending 31 March 2021 Mr Christopher De Gabriele controlled the company by virtue of a controlling interest of 100% of the issued ordinary share capital.

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