ACCOUNTS - Final Accounts

Creditors: Amounts falling due after more than one year

EMILIO CONTRACTS & INVESTMENTS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-31false2021-11-01Property development22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09129622 2021-11-01 2022-10-31 09129622 2020-11-01 2021-10-31 09129622 2022-10-31 09129622 2021-10-31 09129622 c:Director1 2021-11-01 2022-10-31 09129622 d:CurrentFinancialInstruments 2022-10-31 09129622 d:CurrentFinancialInstruments 2021-10-31 09129622 d:Non-currentFinancialInstruments 2022-10-31 09129622 d:Non-currentFinancialInstruments 2021-10-31 09129622 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 09129622 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 09129622 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 09129622 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 09129622 d:ShareCapital 2022-10-31 09129622 d:ShareCapital 2021-10-31 09129622 d:RetainedEarningsAccumulatedLosses 2022-10-31 09129622 d:RetainedEarningsAccumulatedLosses 2021-10-31 09129622 c:OrdinaryShareClass1 2021-11-01 2022-10-31 09129622 c:OrdinaryShareClass1 2022-10-31 09129622 c:OrdinaryShareClass1 2021-10-31 09129622 c:OrdinaryShareClass2 2021-11-01 2022-10-31 09129622 c:OrdinaryShareClass2 2022-10-31 09129622 c:OrdinaryShareClass2 2021-10-31 09129622 c:OrdinaryShareClass3 2021-11-01 2022-10-31 09129622 c:OrdinaryShareClass3 2022-10-31 09129622 c:OrdinaryShareClass3 2021-10-31 09129622 c:OrdinaryShareClass4 2021-11-01 2022-10-31 09129622 c:OrdinaryShareClass4 2022-10-31 09129622 c:OrdinaryShareClass4 2021-10-31 09129622 c:OrdinaryShareClass5 2021-11-01 2022-10-31 09129622 c:OrdinaryShareClass5 2022-10-31 09129622 c:OrdinaryShareClass5 2021-10-31 09129622 c:FRS102 2021-11-01 2022-10-31 09129622 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 09129622 c:FullAccounts 2021-11-01 2022-10-31 09129622 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 09129622 d:Subsidiary1 2021-11-01 2022-10-31 09129622 d:Subsidiary1 1 2021-11-01 2022-10-31 09129622 6 2021-11-01 2022-10-31 09129622 2 2022-10-31 09129622 2 2021-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09129622

EMILIO CONTRACTS & INVESTMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2022

EMILIO CONTRACTS & INVESTMENTS LIMITED

REGISTERED NUMBER: 09129622

BALANCE SHEET

AS AT 31 OCTOBER 2022

		2022		2021
Note		£		£

Fixed assets
Investments	4		88,491		1
Current assets
Stocks	5	348,803		154,953
Debtors: amounts falling due within one year	6	11,028		187,538
Cash at bank and in hand	7	586,028		141,186
		945,859		483,677
Creditors: amounts falling due within one year	8	(55,710)		(6,760)
Net current assets			890,149		476,917
Total assets less current liabilities			978,640		476,918
Creditors: amounts falling due after more than one year	9		(650,398)		-

Net assets			328,242		476,918

Capital and reserves
Called up share capital	10	100	100
Profit and loss account		328,142	476,818
		328,242	476,918

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EMILIO CONTRACTS & INVESTMENTS LIMITED

REGISTERED NUMBER: 09129622

BALANCE SHEET (CONTINUED)

AS AT 31 OCTOBER 2022

The directors consider 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 directors acknowledge their 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 statement of comprehensive income 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 by:

Mario Phillip Cientanni

Director

Date: 26 July 2023

The notes on pages 3 to 7 form part of these financial statements.

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EMILIO CONTRACTS & INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

1.	General information

Emilio Contracts & Investments Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Northdown, Wrotham Road, Meopham, Kent, DA13 0AT.
The principal activity of the company during the year is that of an investment holding company and building contractor.

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.

The following principal accounting policies have been applied:

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

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EMILIO CONTRACTS & INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

2.3

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.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Work in progress

Work in progress relates to work carried out on contracts which are not complete at the year end. It is valued at the lower of cost and net realisable value. Cost includes all direct cost.

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 2 (2021 - 2).

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EMILIO CONTRACTS & INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

4.	Fixed asset investments

	Investments in subsidiary companies	Unlisted investments	Total
	£	£	£
Cost or valuation
At 1 November 2021	-	1	1
Additions	6,588,490	-	6,588,490
At 31 October 2022	6,588,490	1	6,588,491
Impairment
Charge for the period	6,500,000	-	6,500,000
At 31 October 2022	6,500,000	-	6,500,000
Net book value
At 31 October 2022	88,490	1	88,491
At 31 October 2021	-	1	1

Subsidiary undertaking
The following was a subsidiary undertaking of the company:
Name	Class of shares	Holding

Melbond (Crossways) Limited

Ordinary

100%

	The aggregate of the share capital and reserves as at 31 October 2022 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:
	Name	Aggregate of share capital and reserves

Melbond (Crossways) Limited

55,710

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EMILIO CONTRACTS & INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

5.	Stocks
		2022	2021
		£	£

Work in progress	348,803	154,953
	348,803	154,953

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	10,819	-
Other debtors	209	187,538
	11,028	187,538

7.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	586,028	141,186
	586,028	141,186

8.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Amounts owed to group undertakings	55,710	-
Corporation tax	-	6,760
	55,710	6,760

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EMILIO CONTRACTS & INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

Other creditors	650,398	-
	650,398	-

10.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

167 (2021 - 167) Ordinary A shares shares of £0.10 each	16.70	16.70
167 (2021 - 167) Ordinary B shares shares of £0.10 each	16.70	16.70
167 (2021 - 167) Ordinary C shares shares of £0.10 each	16.70	16.70
167 (2021 - 167) Ordinary D shares shares of £0.10 each	16.70	16.70
166 (2021 - 166) Ordinary E shares shares of £0.10 each	16.60	16.60
166 (2021 - 166) Ordinary F share shares of £0.10 each	16.60	16.60

	100.00	100.00

11.	Related party transactions
	Included within other creditors due after more than one year are amounts owed to the directors of the company and the directors close family members amounting to £650,398 (2021: £180,318 owed by).

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