1 June 2021 false Taxfiler 2022.8.3 SC284783business:PrivateLimitedCompanyLtd2021-06-012022-05-31 SC2847832021-05-31 SC2847832021-06-012022-05-31 SC284783business:AuditExemptWithAccountantsReport2021-06-012022-05-31 SC284783business:FullAccounts2021-06-012022-05-31 SC2847832022-05-31 SC284783business:Director12021-06-012022-05-31 SC284783business:Director22021-06-012022-05-31 SC284783business:Director32021-06-012022-05-31 SC284783business:RegisteredOffice2021-06-012022-05-31 SC2847832021-05-31 SC284783core:WithinOneYear2022-05-31 SC284783core:WithinOneYear2021-05-31 SC284783core:AfterOneYear2022-05-31 SC284783core:AfterOneYear2021-05-31 SC284783core:ShareCapital2022-05-31 SC284783core:ShareCapital2021-05-31 SC284783core:RetainedEarningsAccumulatedLosses2022-05-31 SC284783core:RetainedEarningsAccumulatedLosses2021-05-31 SC284783business:SmallEntities2021-06-012022-05-31 SC284783countries:Scotland2021-06-012022-05-31 SC284783core:LandBuildings2021-06-012022-05-31 SC284783core:Goodwill2021-05-31 SC284783core:Goodwill2022-05-31 SC284783core:LandBuildings2021-05-31 SC284783core:FurnitureFittings2021-05-31 SC284783core:FurnitureFittings2021-06-012022-05-31 SC284783core:LandBuildings2022-05-31 SC284783core:FurnitureFittings2022-05-31 SC284783core:WithinOneYear2021-06-012022-05-31 SC284783core:AfterOneYear2021-06-012022-05-31 SC284783business:OrdinaryShareClass12021-06-012022-05-31 SC284783business:OrdinaryShareClass12020-06-012021-05-31 SC2847832020-06-012021-05-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC284783 (Scotland)
Marina Cafe Limited Unaudited accounts for the year ended 31 May 2022
Marina Cafe Limited Company Information for the year ended 31 May 2022
Directors
Marina Crolla Dominic Crolla Rebecca Crolla
Company Number
SC284783 (Scotland)
Registered Office
61 Cockburn Street Edinburgh EH1 1BS
Accountants
Jean S Macnab LLB CA CTA 1 Medwyn Drive West Linton Peeblesshire EH46 7HW
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Marina Cafe Limited Statement of financial position as at 31 May 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
547,735 
24,099 
Current assets
Inventories
8,175 
7,975 
Debtors
1,875 
11,414 
Cash at bank and in hand
169,756 
153,124 
179,806 
172,513 
Creditors: amounts falling due within one year
(177,646)
(102,260)
Net current assets
2,160 
70,253 
Total assets less current liabilities
549,895 
94,352 
Creditors: amounts falling due after more than one year
(301,229)
- 
Provisions for liabilities
Deferred tax
(12,735)
(4,579)
Net assets
235,931 
89,773 
Capital and reserves
Called up share capital
6 
4 
Profit and loss account
235,925 
89,769 
Shareholders' funds
235,931 
89,773 
For the year ending 31 May 2022 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 12 August 2022 and were signed on its behalf by
Marina Crolla Director Company Registration No. SC284783
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Marina Cafe Limited Notes to the Accounts for the year ended 31 May 2022
1
Statutory information
Marina Cafe Limited is a private company, limited by shares, registered in Scotland, registration number SC284783. The registered office is 61 Cockburn Street, Edinburgh, EH1 1BS.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value of sales to customers, net of discounts and allowances, and excludes VAT. Sales of goods and services are recognised when the company has delivered the product, the customer has accepted the products or services and collectability of the related receivable is reasonably assured.
Tangible fixed assets policy
Fittings and equipment are stated at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, evenly over the estimated economic life of that asset as follows: Equipment and fittings 25%
Land & buildings
No depreciation is provided as the directors consider that the value of the premises exceeds cost
Intangible fixed assets
Amortisation of goodwill is calculated so as to write off the cost of the goodwill, less its estimated residual value, evenly over the estimated economic life of that asset as follows: Goodwill 20%
Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or aright to pay less tax in the future have occurred at the balance sheet date. A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the reversal of the underlying timing differences can be deducted.
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Marina Cafe Limited Notes to the Accounts for the year ended 31 May 2022
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2021
32,000 
At 31 May 2022
32,000 
Amortisation
At 1 June 2021
32,000 
At 31 May 2022
32,000 
Net book value
At 31 May 2022
- 
5
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2021
- 
142,095 
142,095 
Additions
480,708 
69,111 
549,819 
Disposals
- 
(48,683)
(48,683)
At 31 May 2022
480,708 
162,523 
643,231 
Depreciation
At 1 June 2021
- 
117,996 
117,996 
Charge for the year
- 
26,183 
26,183 
On disposals
- 
(48,683)
(48,683)
At 31 May 2022
- 
95,496 
95,496 
Net book value
At 31 May 2022
480,708 
67,027 
547,735 
At 31 May 2021
- 
24,099 
24,099 
6
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
- 
2,764 
Other debtors
1,875 
8,650 
1,875 
11,414 
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Marina Cafe Limited Notes to the Accounts for the year ended 31 May 2022
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
56,305 
50,000 
Trade creditors
38,115 
31,988 
Taxes and social security
60,783 
20,272 
Loans from directors
7,229 
- 
Accruals
15,214 
- 
177,646 
102,260 
The business premises were acquired during the year with funding from the National Westminster Bank plc. The loan is secured by a Standing Security over the premises and is repayable by 13 January 2042.
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
301,229 
- 
The business premises were acquired during the year with funding from the National Westminster Bank plc. The loan is secured by a Standing Security over the premises and is repayable by 13 January 2042.
9
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
6 Ordinary shares of £1 each
6 
4 
Shares issued during the period:
2 Ordinary shares of £1 each
2 
10
Transactions with related parties
The company was under the control of Marina Crolla, director, throughout the current and previous year. In the course of the year, the director paid certain costs of the company from her personal funds, and drew money from the company. Dividends paid during the year to the directors were as follows: Marina Crolla: £30,000 (2021 - £32,000) Dominic Crolla: nil (2021 - £nil)
11
Average number of employees
During the year the average number of employees was 15 (2021: 16).
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