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AREA UNO LIMITED - Company Information

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Draft

AREA UNO LTD

Registered Number:06152545

For the year ended 31 December 2022

England and Wales

Unaudited Financial Statements

Draft

For the year ended 31 December 2022

AREA UNO LTD

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Draft

Registered Number :

06152545

As at 31 December 2022

AREA UNO LTD

Statement of Financial Position

2021

2022

Notes

Fixed assets

Property, plant and equipment

34,846

56,854

Financial assets

2,222,492

2,356,492

2,391,338

2,279,346

Current assets

Trade and other receivables

1,636

47,426

271,301

Cash and cash equivalents

28,665

76,091

272,937

Trade and other payables: amounts falling due within one

year

(1,378,877)

(1,273,323)

(1,105,940)

(1,197,232)

Net current liabilities

Total assets less current liabilities

1,194,106

1,173,406

Trade and other payables: amounts falling due after more

than one year

(560,203)

(781,825)

412,281

Net assets

613,203

Capital and reserves

Called up share capital

100

Retained earnings

412,181

613,103

412,281

613,203

Shareholders' funds

For the year ended 31 December 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of

each financial year and of its profit or loss for each financial year in accordance with the requirements of Section

394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial

statements, so far as applicable to the company.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

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

Mr Fiorenzo Stocco Director

These financial statements were approved and authorised for issue by the Board on 11 September 2023 and were signed by:

The notes form part of these financial statements

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Draft

For the year ended 31 December 2022

AREA UNO LTD

Notes to the Financial Statements

Statutory Information

AREA UNO LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number

06152545.

Registered address:

c/o G Teoli & Co

Balfour House

741 High Road

London

N12 0BP

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and machinery

25% Straight line

Motor vehicles

No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected

useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation

would be immaterial. The directors undertake an annual impairment review of these properties.

Investment property

Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.

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Draft

For the year ended 31 December 2022

AREA UNO LTD

Notes to the Financial Statements Continued

2. Property, plant and equipment

Motor vehicles

Cost or

valuation

At 01 January 2022

56,854

(22,008)

Additions

At 31 December 2022

34,846

At 31 December 2022

Net book value

34,846

At 31 December 2021

56,854

3. Investments held as fixed assets

Loans to group and participating interests

Shares in group

and

participating

interests

Total

At 01 January 2022

2,352,492

2,350,000

2,492

Cost

4,000

Additions

At 31 December 2022

2,492

2,354,000

2,356,492

At 31 December 2022

Net book value

2,492

2,354,000

2,356,492

At 01 January 2022

2,352,492

2,492

2,350,000

4. Trade and other receivables

2021

2022

Trade debtors

44,214

Other debtors

3,212

1,636

47,426

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Draft

For the year ended 31 December 2022

AREA UNO LTD

Notes to the Financial Statements Continued

5. Trade and other payables: amounts falling due within one year

2021

2022

Bank loans and overdraft

39,747

66,328

Trade creditors

159,681

150,560

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

1,040,197

1,123,193

Taxation and social security

31,898

36,996

Other creditors

1,800

1,273,323

1,378,877

6. Trade and other payables: amounts falling due after more than one year

2021

2022

Other creditors

781,825

560,203

7. Related party transactions

During the year loans were made to Alpha Uno Ltd, total loans to 31st December 2022

amounted to £ 1,545,000 (2021 - £ 1,415,000).

Area Uno Ltd owns 52% of the issued share capital of Alpha Uno Ltd.

During the year no loans were made to Uplands HW Ltd. Total loans to 31 December 2022 amounted to £ 805,000

(2021 - £ 805,000)

During the year loans were made to Penta United Ltd, total loans to 31st December 2022

amounted to £ 4,000 (2021 - nil)

Profin S.r.l. has made loans to Area Uno Ltd in previous years. During the year Profin S.r.l.. made loans to Area Uno

Ltd

of £ 201,622.24. The balance owing to Profin S.r.l. at 31 December 2022 was £ 599,622.24 (2021 - £ 398,000).

No interest was paid to Profin S.r.l. during the year (2021 - £NIL).

As per note 5, the amounts owed and due after 1 year are as follows:

Mr Fiorenzo Stocco £ 490,197 (2021 - 573,193)

M Angelo Castaldi £ 550,000 (2021 - £ 550,000)

Interest paid to Mr Fiorenzo Stocco was £ 23,424 (2021 - £ 26,917)

By virtue of family shareholdings and interests in the issued share capital of Profin S.r.l., a company registered in

Italy, the controlling party is Mr Fiorenzo Stocco.

The following loans made to the company, had outstanding balances as follows:

Mr Fiorenzo Stocco £ 1,800 (2021 - £ 1,800).

8. Average number of persons employed

During the year the average number of employees was 3 (2021 : 3)

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