IRIS Accounts Production v23.3.0.418 SC480819 director 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4808192022-07-31SC4808192023-07-31SC4808192022-08-012023-07-31SC4808192021-07-31SC4808192021-08-012022-07-31SC4808192022-07-31SC480819ns10:Originalns15:Scotland2022-08-012023-07-31SC480819ns14:PoundSterlingns10:Original2022-08-012023-07-31SC480819ns10:Originalns10:Director12022-08-012023-07-31SC480819ns10:Original2022-08-012023-07-31SC480819ns10:Original2023-07-31SC480819ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-31SC480819ns10:Originalns10:SmallEntities2022-08-012023-07-31SC480819ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-07-31SC480819ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-31SC480819ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-31SC480819ns10:Originalns10:FullAccounts2022-08-012023-07-31SC480819ns10:Originalns10:RegisteredOffice2022-08-012023-07-31SC480819ns10:Original2022-07-31SC480819ns10:Originalns5:CurrentFinancialInstruments2023-07-31SC480819ns10:Originalns5:CurrentFinancialInstruments2022-07-31SC480819ns10:Originalns5:Non-currentFinancialInstruments2023-07-31SC480819ns10:Originalns5:Non-currentFinancialInstruments2022-07-31SC480819ns5:ShareCapitalns10:Original2023-07-31SC480819ns5:ShareCapitalns10:Original2022-07-31SC480819ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-31SC480819ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-31SC480819ns10:Originalns5:PlantMachinery2022-08-012023-07-31SC480819ns10:Original2021-08-012022-07-31SC480819ns10:Originalns5:PlantMachinery2022-07-31SC480819ns10:Originalns5:PlantMachinery2023-07-31SC480819ns10:Originalns5:PlantMachinery2022-07-31SC480819ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-31SC480819ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: SC480819 (Scotland)















Unaudited Financial Statements for the Year Ended 31st July 2023

for

R. Miroli Limited

R. Miroli Limited (Registered number: SC480819)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


R. Miroli Limited

Company Information
for the Year Ended 31st July 2023







DIRECTOR: R G A Miroli





REGISTERED OFFICE: C/O Farries, Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ





REGISTERED NUMBER: SC480819 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

R. Miroli Limited (Registered number: SC480819)

Balance Sheet
31st July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 160,665 124,995

CURRENT ASSETS
Stocks 3,534 3,443
Debtors 5 698 -
Cash at bank and in hand 54,471 66,757
58,703 70,200
CREDITORS
Amounts falling due within one year 6 (60,883 ) (49,507 )
NET CURRENT (LIABILITIES)/ASSETS (2,180 ) 20,693
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,485

145,688

CREDITORS
Amounts falling due after more than one year 7 (80,594 ) (30,705 )

PROVISIONS FOR LIABILITIES (30,245 ) (23,749 )
NET ASSETS 47,646 91,234

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 47,642 91,230
47,646 91,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 19th October 2023 and were signed by:





R G A Miroli - Director


R. Miroli Limited (Registered number: SC480819)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

R. Miroli Limited is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

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 Statement of Income and Retained Earnings, 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.

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.

R. Miroli Limited (Registered number: SC480819)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 178,031
Additions 72,197
At 31st July 2023 250,228
DEPRECIATION
At 1st August 2022 53,036
Charge for year 36,527
At 31st July 2023 89,563
NET BOOK VALUE
At 31st July 2023 160,665
At 31st July 2022 124,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 698 -

R. Miroli Limited (Registered number: SC480819)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,900 7,001
Hire purchase contracts 7,871 -
Trade creditors 1,576 8,455
Taxation and social security 39,279 26,342
Other creditors 7,257 7,709
60,883 49,507

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 27,918 30,705
Hire purchase contracts 52,676 -
80,594 30,705

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 2,701

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 60,547 -

The hire purchase creditors are secured against the assets which have been financed.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £72,000 (2022 - £48,000) were paid to the director .

At 31st July 2023 the company owed the sum of £1,189 (2022 - £877) to R Miroli by way of a directors' loan account. This sum is repayable on demand and no interest is charged on the sum advanced.