SANTUCCI_AND_CO_LIMITED - Accounts

SANTUCCI AND CO LIMITED - Company Information

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Company Registration No. 03886784 (England and Wales)

SANTUCCI AND CO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

SANTUCCI AND CO LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

SANTUCCI AND CO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

12,497

13,597

Investments

102

12,599

13,699

Current assets

Debtors

376,014

432,083

Cash at bank and in hand

26,388

189

402,402

432,272

Creditors: amounts falling due within one year

(235,639)

(209,339)

Net current assets

166,763

222,933

Total assets less current liabilities

179,362

236,632

Capital and reserves

Called up share capital

Profit and loss account

179,358

236,628

Shareholders' funds

179,362

236,632

For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 19 May 2017

Marco Santucci

Director

Company Registration No. 03886784

SANTUCCI AND CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents net invoiced sales of services, excluding value added tax and is recognised on a contractual due date basis.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Office equipment

33% reducing balance

Fixtures & Fittings

15% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates 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 differences are taken to profit and loss account.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

SANTUCCI AND CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 December 2015

75,011

102

75,113

Additions

1,896

At 30 November 2016

76,907

102

77,009

Depreciation

At 1 December 2015

61,414

Charge for the year

2,996

At 30 November 2016

64,410

Net book value

At 30 November 2016

12,497

102

12,599

At 30 November 2015

13,597

102

13,699

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Elaine Constantine Limited

England & Wales

Ordinary

100.00

Stubborn Heart Productions Limited

England & Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Elaine Constantine Limited

Fashion photography

Stubborn Heart Productions Limited

Motion picture and video production

(363,467)

(206)

SANTUCCI AND CO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

4 Ordinary Shares of £1 each

Transactions with directors

Amount outstanding

Maximum

2016

2015

in year

Director's current account

17,059

During the year, the company paid £40,725 in expenses on behalf of the directors and the directors paid £1,599 in expenses on behalf of the company. Interest at a rate of 3% was charged on outstanding loans during the year totalling £120.

At the end of the year, the directors owed £17,059 to the company (2015 - £22,187 was owed by the company).

The above transactions are disclosed on an aggregated basis due to the extent of these transactions.