Company Registration No. 09671227 (England and Wales)
Ciao Bella Property Limited
Unaudited accounts
for the year ended 31 August 2023
Ciao Bella Property Limited
Unaudited accounts
Contents
Ciao Bella Property Limited
Company Information
for the year ended 31 August 2023
Directors
Felice Pollano (Deceased 04/05/2023)
Patrizia Pollano
Company Number
09671227 (England and Wales)
Registered Office
13A THE MEADS
BRICKET WOOD
ST. ALBANS
AL2 3QJ
ENGLAND
Ciao Bella Property Limited
Statement of financial position
as at 31 August 2023
Investment property
1,460,000
1,568,569
Cash at bank and in hand
171,239
118,800
Creditors: amounts falling due within one year
(1,601,863)
(1,598,770)
Net current liabilities
(1,430,583)
(1,478,383)
Called up share capital
100
100
Profit and loss account
29,317
90,086
Shareholders' funds
29,417
90,186
For the year ending 31 August 2023 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2024 and were signed on its behalf by
Patrizia Pollano
Director
Company Registration No. 09671227
Ciao Bella Property Limited
Notes to the Accounts
for the year ended 31 August 2023
Ciao Bella Property Limited is a private company, limited by shares, registered in England and Wales, registration number 09671227. The registered office is 13A THE MEADS, BRICKET WOOD, ST. ALBANS, AL2 3QJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover includes rent receivable for the year from the company's investment properties.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 September 2022
1,568,569
Net loss from fair value adjustments
(108,569)
At 31 August 2023
1,460,000
Investment properties have been valued on an open market basis on 4 May 2023.
Amounts falling due within one year
Accrued income and prepayments
41
1,587
Ciao Bella Property Limited
Notes to the Accounts
for the year ended 31 August 2023
6
Creditors: amounts falling due within one year
2023
2022
Amounts owed to group undertakings and other participating interests
1,537,608
1,537,608
Taxes and social security
11,582
9,403
Other creditors
24,200
24,200
Loans from directors
26,378
26,234
7
Transactions with related parties
Included in creditors are amounts due to Ciao Bella Restaurant Limited in the sum of £1,537,608 (2022 : £1,537,608). These loans are interest free and payable on demand.
Ciao Bella Restaurant Limited and Ciao Bella Property Limited are connected by virtue of having common directors.
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
