Bottega Prelibato Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05616673 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Bottega Prelibato Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Mattioli

REGISTERED OFFICE:

45 Rivington Street

London

EC2A 3QB

REGISTERED NUMBER:

05616673 (England and Wales)

FIXED ASSETS

Tangible assets

4

58,262

66,358

CURRENT ASSETS

Stocks

9,811

9,465

Debtors

5

31,749

28,158

Cash at bank

7,001

12,979

48,561

50,602

CREDITORS

Amounts falling due within one year

6

(145,902

)

(153,533

)

NET CURRENT LIABILITIES

(97,341

)

(102,931

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(39,079

)

(36,573

)

CREDITORS

Amounts falling due after more than one year

7

(13,526

)

(18,428

)

PROVISIONS FOR LIABILITIES

(7,462

)

(8,482

)

NET LIABILITIES

(60,067

)

(63,483

)

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

(60,467

)

(63,883

)

SHAREHOLDERS' FUNDS

(60,067

)

(63,483

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 24 May 2017 and were signed by:

G Mattioli - Director

1.	STATUTORY INFORMATION

Bottega Prelibato Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 December 2016 are the first financial statements that comply

with FRS 102 Section 1A for small entities. The date of transition is 1 January 2015.

The transition to FRS102 Section 1A for small entities has resulted in a small number of changes in accounting

policies to those used previously.

The nature of these changes and their impact on shareholders funds at the transition date and the comparative

balance sheet date and profit for the comparative period are explained in note 11 below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

over the remaining period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

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

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

Going concern

The company's financial statements are prepared on a going concern basis on the assumed continued support of

the company's other creditors.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the

balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where

material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 January 2016

26,940

13,298

21,404

Additions

-

-

1,639

At 31 December 2016

26,940

13,298

23,043

DEPRECIATION

At 1 January 2016

2,993

13,298

11,549

Charge for year

2,993

-

2,874

At 31 December 2016

5,986

13,298

14,423

NET BOOK VALUE

At 31 December 2016

20,954

-

8,620

At 31 December 2015

23,947

-

9,855

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2016

40,645

3,446

105,733

Additions

4,501

1,194

7,334

At 31 December 2016

45,146

4,640

113,067

DEPRECIATION

At 1 January 2016

10,161

1,374

39,375

Charge for year

8,746

817

15,430

At 31 December 2016

18,907

2,191

54,805

NET BOOK VALUE

At 31 December 2016

26,239

2,449

58,262

At 31 December 2015

30,484

2,072

66,358

5.

DEBTORS

2016

2015

£

£

Amounts falling due within one year:

Trade debtors

382

103

Other debtors

20,437

17,125

20,819

17,228

Amounts falling due after more than one year:

Other debtors

10,930

10,930

Aggregate amounts

31,749

28,158

Rent deposit paid is £15,125 and is disclosed under other debtors. The rent and other sums owing under the

terms of the lease agreement is secured by the rent deposit paid.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

21,725

4,902

Trade creditors

41,947

55,391

Taxation and social security

25,125

20,288

Other creditors

57,105

72,952

145,902

153,533

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans

13,526

18,428

8.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank loans

18,428

23,330

The bank loan is personally guaranteed by G Mattioli the director.

9.	FINANCIAL INSTRUMENTS

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank

loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted

amount of the cash or other consideration expected to be paid or received.