Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Directors

The directors shown below have held office during the whole of the period from
1 January 2022 to 31 December 2022

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 May 2023

And signed on behalf of the board by:
Name: Xavier Romeu
Status: Director

Profit And Loss Account

for the Period Ended 31 December 2022

Balance sheet

As at 31 December 2022

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 December 2022 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2022

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

  Other accounting policies

  Going ConcernIn 2020, the Directors have made the decision to wind up of the Company and accordingly thesefinancial statements have not been prepared on the going concern basis. As a result, all assetsand liabilities which are not expected to be realized have been written off.Interest incomeInterest income is recognised using the effective interest method. When a loan and receivable isimpaired, the Company reduces the carrying amount to its recoverable amount, being theEstimated future cash flow discounted at the original effective interest rate of the instrument,and continues unwinding the discount as interest income.TaxationTax is recognised in the income statement. The current income tax charge is calculated on thebasis of the tax laws enacted or substantively enacted at the balance sheet date in the countrieswhere the Company operates and generates taxable income. Management periodically evaluatespositions taken in tax returns with respect to situations in which applicable tax regulation issubject to interpretation. It establishes provisions where appropriate on the basis of amountsexpected to be paid to the tax authorities.DebtorsDebtors are amounts due from related parties for services performed in the ordinary course ofbusiness. If collection is expected in one year or less (or in the normal operating cycle of thebusiness if longer), they are classified as current assets. If not, they are presented as non-currentassets. Debtors are recognised initially at fair value and subsequently measured at amortised costusing the effective interest method, less provision for impairment.A number of new or amendments became applicable for the current reporting period. The impactof the adoption of the new amendments and the new accounting policies are disclosed below.The amendments to IFRS 9 and IAS 39 Financial Instruments: Recognition and Measurementprovide a number of reliefs, which apply to all loans that are directly affected by interest ratebenchmark reform. When changing the basis for determining contractual cash flows for financialassets and liabilities (including lease liabilities), the reliefs have the effect that the changes, thatare necessary as a direct consequence of IBOR reform and which are considered economicallyequivalent, will not result in an immediate gain or loss in the income statement. The company hasassessed the transition to alternative benchmark rates.Starting from the last contract amendment in 2022, TISONI1Y Sterling Libor rate was applied andthis amendment had no material impact on the company’s financial statements but increasinginterest income.CreditorsCreditors are obligations to pay for goods or services that have been acquired in the ordinarycourse of business from suppliers. Creditors are recognised initially at fair value and subsequentlymeasured at amortised cost using the effective interest method.Cash at bank and in handCash at bank and in hand comprise deposits with banks and bank and cash balances. In thebalance sheet, bank overdrafts are included in borrowings in current liabilities.Critical accounting estimates and judgmentsThe Company did not make any significant judgments and estimates on applying accountingpolicies during the financial year ended 31st December 2022 or 31st December 2021.

Notes to the Financial Statements

for the Period Ended 31 December 2022

• 2. Employees

  	2022	2021
  Average number of employees during the period	0	0