Alfredo Landolfi Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00821539 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

ALFREDO LANDOLFI LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

6

DIRECTORS:

Mrs H M Landolfi

Mr A Landolfi

REGISTERED OFFICE:

76 Baldwins Lane

Croxley Green

Rickmansworth

Hertfordshire

WD3 3LP

REGISTERED NUMBER:

00821539 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Chartered Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Intangible assets

2

-

8,000

Tangible assets

3

-

5,770

Investment property

4

110,000

123,770

CURRENT ASSETS

Stocks

1,000

Debtors

34,891

2,767

35,891

3,767

CREDITORS

Amounts falling due within one year

5

9,454

8,205

NET CURRENT ASSETS/(LIABILITIES)

26,437

(4,438

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

136,437

119,332

CREDITORS

Amounts falling due after more than one
year

5

(88,484

)

(76,000

)

PROVISIONS FOR LIABILITIES

(16,372

)

(60

)

NET ASSETS

31,581

43,272

CAPITAL AND RESERVES

Called up share capital

6

Revaluation reserve

81,606

98,009

Profit and loss account

(50,031

)

(54,743

)

SHAREHOLDERS' FUNDS

31,581

43,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 30 June 2017 and were signed on its behalf by:

Mrs H M Landolfi - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company meets its day-to-day working capital requirements through its bank facility. The company's

forecasts and projections, taking account of reasonably possible changes in trading performance, show that the

company should be able to operate within the level of its current facilities. After making enquiries, the directors

have a reasonable expectation that the company has adequate resources to continue in operational existence

for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its

financial statements.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover comprises revenue recognised by the company in respect of good and services supplied. Turnover is

measured as the fair value of the consideration received or receivable, excluding discounts and rebates.

Turnover arises solely within the United Kingdom.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

15% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the

location and condition necessary for it to be capable of operating in the manner intended by management.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting

Standard for Smaller Entities (effective January 2015). Such properties are held for their investment potential

and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all

properties to be depreciated and the directors consider that to depreciate them would not enable the financial

statements to give a true and fair view. Investment properties are stated at their market value at the balance

sheet date. Deferred tax shall not be recognised on revaluation gains and losses unless the company has

entered into a binding agreement to sell the asset at the reporting date or the taxable gain is likely not to be

rolled into a replacement asset.

Stocks

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

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

20,000

AMORTISATION

At 1 October 2015

12,000

Amortisation for year

8,000

At 30 September 2016

20,000

NET BOOK VALUE

At 30 September 2016

-

At 30 September 2015

8,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

11,355

DEPRECIATION

At 1 October 2015

5,585

Charge for year

5,770

At 30 September 2016

11,355

NET BOOK VALUE

At 30 September 2016

-

At 30 September 2015

5,770

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 October 2015

and 30 September 2016

110,000

NET BOOK VALUE

At 30 September 2016

110,000

At 30 September 2015

110,000

5.

CREDITORS

Creditors include an amount of £ 89,052 (30.9.15 - £ 76,000 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.16

30.9.15

value:

£

6

Ordinary

£1

6

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2016 and

30 September 2015:

30.9.16

30.9.15

£

Mrs H M Landolfi

Balance outstanding at start of year

(426

)

(14,977

)

Amounts advanced

40,919

14,551

Amounts repaid

(8,849

)

-

Balance outstanding at end of year

31,644

(426

)

Mr A Landolfi

Balance outstanding at start of year

-

(2,715

)

Amounts advanced

11,647

8,615

Amounts repaid

(10,890

)

(5,900

)

Balance outstanding at end of year

757

-

The outstanding balances were repaid after the reporting date.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Alfredo Landolfi Limited for the year ended 30 September 2016 which comprise the Profit and

Loss Account, the Balance Sheet, the Statement of Total Recognised Gains and Losses and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Alfredo Landolfi Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Alfredo Landolfi Limited and state those matters that we have agreed to state to the Board of Directors of Alfredo Landolfi Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alfredo Landolfi Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alfredo Landolfi Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alfredo Landolfi Limited. You consider that Alfredo Landolfi Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Alfredo Landolfi Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Chartered Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

30 June 2017