Le Perle Italiane Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09469521 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2017

for

Le Perle Italiane Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Cosimo

REGISTERED OFFICE:

The Old Boardroom

Collett Road

Ware

SG12 7LR

REGISTERED NUMBER:

09469521 (England and Wales)

ACCOUNTANTS:

DSCO

The Old Boardroom

Collett Road

Ware

Hertfordshire

SG12 7LR

FIXED ASSETS

Tangible assets

4

30,713

58,557

CURRENT ASSETS

Debtors

5

18,598

20,387

Cash at bank and in hand

31

10,050

18,629

30,437

CREDITORS

Amounts falling due within one year

6

75,904

200,449

NET CURRENT LIABILITIES

(57,275

)

(170,012

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(26,562

)

(111,455

)

CREDITORS

Amounts falling due after more than one year

7

199,000

-

NET LIABILITIES

(225,562

)

(111,455

)

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

(226,562

)

(112,455

)

SHAREHOLDERS' FUNDS

(225,562

)

(111,455

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 30 May 2018 and were signed by:

Mr M Cosimo - Director

1.	STATUTORY INFORMATION

Le Perle Italiane 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.

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

-

20% on cost

Plant and machinery

-

20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

property

machinery

Totals

£

£

£

COST

At 1 September 2016

18,611

65,042

83,653

Additions

-

6,443

6,443

Disposals

-

(32,536

)

(32,536

)

At 31 August 2017

18,611

38,949

57,560

DEPRECIATION

At 1 September 2016

5,583

19,513

25,096

Charge for year

3,722

7,790

11,512

Eliminated on disposal

-

(9,761

)

(9,761

)

At 31 August 2017

9,305

17,542

26,847

NET BOOK VALUE

At 31 August 2017

9,306

21,407

30,713

At 31 August 2016

13,028

45,529

58,557

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

505

2,312

Other debtors

12,100

11,250

Wages control

1,550

-

VAT

2,829

4,167

Prepayments

1,614

2,658

18,598

20,387

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Other loans

41,508

111,999

Trade creditors

29,434

44,105

Social security and other taxes

833

31

Wages control

-

1,644

Unpaid expense claims

200

4,864

Directors' current accounts

916

33,281

Accrued expenses

3,013

4,525

75,904

200,449

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.17

31.8.16

£

£

Other loans - 1-2 years

149,250

-

Directors' loan accounts

49,750

-

199,000

-

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.8.17

31.8.16

£

£

Within one year

17,000

-

Between one and five years

36,125

-

53,125

-

Operating lease payments recognised as an expense in the year totalled £17,000 (2016: £11,901)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Retained

earnings

£

At 1 September 2016

(112,455

)

Deficit for the year

(114,107

)

At 31 August 2017

(226,562

)

11.	RELATED PARTY DISCLOSURES

Mr E Valente

A director and shareholder of the company

Mr E Valente has loaned the company money to support it's trading activities. As at 31st August 2017 the company owed Mr E

Valente the sum of £50,666 (2016: £33,281).

Mr R De Nicola

A shareholder of the company

Mr R De Nicola has loaned the company money to support it's trading activities. As at 31st August 2017 the company owed Mr

R De Nicola the sum of £55,798 (2016: £41,776).

Mr V Conte

A shareholder of the company

Mr V Conte has loaned the company money to support it's trading activities. As at 31st August 2017 the company owed Mr V

Conte the sum of £49,835 (2016: £12,596).

Mr M Cosimo

A director and shareholder of the company

Mr M Cosimo has loaned the company money to support it's trading activities. As at 31st August 2017 the company owed Mr M

Cosimo the sum of £50,184 (2016: £25,094).

Mr P Colangelo

A shareholder of the company

Mr P Colangelo has loaned the company money to support it's trading activities. As at 31st August 2017 the company owed Mr

P Colangelo the sum of £14,845 (2016: £14,845).

12.	GOING CONCERN

As at 31st August 2017 the company had net liabilities of £226,562 (2016:£112,455). The company is able to continue to trade

with the confirmed support of its Directors and Shareholders.