Lambretta Asia Limited - Accounts to registrar (filleted) - small 23.2.5
Lambretta Asia Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended |
| 31 December 2023 |
| for |
| Lambretta Asia Limited |
| Lambretta Asia Limited (Registered number: 13508932) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Lambretta Asia Limited |
| Company Information |
| for the Year Ended 31 December 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditors |
| Church Court |
| Stourbridge Road |
| Halesowen |
| West Midlands |
| B63 3TT |
| Lambretta Asia Limited (Registered number: 13508932) |
| Balance Sheet |
| 31 December 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 6 |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Lambretta Asia Limited (Registered number: 13508932) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| Lambretta Asia Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| The financial statements are presented in Sterling (£) and cover the period to 31st December each year. The comparative is not entirely comparable as it covers a period of less than twelve months, from the date of incorporation to the 31st December, a period when the company was dormant. |
| Going Concern |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Lambretta Asia Limited (Registered number: 13508932) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2023 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other creditors |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 8. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company was owed £1,488,013 (2022 - £1,187,186) from companies within the same group. In addition the company owed £725,163 (2022 - £965,731) to an entity with significant influence. |
| 9. | ULTIMATE CONTROLLING PARTY |
| The immediate controlling party is Lambretta Scooters Limited, a company whose registered office is Office 14, Grovelands Business Park, West Haddon Road, East Haddon, Northampton, NN6 8FB. |
| The ultimate controlling party is Innocenti S.A., a company based in Switzerland under company number CH50130109025. The registered office and business address of the company is Vicolo Nassetta 2, CH-6900 Lugano, Switzerland. |