Italian Way Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 00693311 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

Italian Way Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Venditto

Mr C Ganadu

REGISTERED OFFICE:

25 Castle Street

Hastings

East Sussex

TN34 3DY

REGISTERED NUMBER:

00693311 (England and Wales)

ACCOUNTANTS:

Sellens French

Chartered Accountants

93 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

FIXED ASSETS

Tangible assets

2

380,256

110,640

Investments

3

291

-

380,547

110,640

CURRENT ASSETS

Stocks

24,500

24,500

Debtors

106,728

90,144

Cash at bank and in hand

-

7,949

131,228

122,593

CREDITORS

Amounts falling due within one year

390,351

148,459

NET CURRENT LIABILITIES

(259,123

)

(25,866

)

TOTAL ASSETS LESS CURRENT LIABILITIES

121,424

84,774

CREDITORS

Amounts falling due after more than one year

44,408

15,017

NET ASSETS

77,016

69,757

CAPITAL AND RESERVES

Called up share capital

4

2,000

2,000

Profit and loss account

75,016

67,757

SHAREHOLDERS' FUNDS

77,016

69,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 September 2015 and were signed on its behalf by:

G Venditto - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

250,706

Additions

331,949

At 31 March 2015

582,655

DEPRECIATION

At 1 April 2014

140,066

Charge for year

62,333

At 31 March 2015

202,399

NET BOOK VALUE

At 31 March 2015

380,256

At 31 March 2014

110,640

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

291

At 31 March 2015

291

NET BOOK VALUE

At 31 March 2015

291

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

2,000

Ordinary

£1

2,000

2,000