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REGISTERED NUMBER: 01172766 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

MAMMA ROMA LIMITED

MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAMMA ROMA LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: A F De Marco





REGISTERED OFFICE: 377 Holloway Road
London
N7 0RN





REGISTERED NUMBER: 01172766 (England and Wales)





ACCOUNTANTS: Owadally & King
Chartered Certified Accountants
73 Park Lane
Croydon
Surrey
CR0 1JG

MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Balance Sheet
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 258,149 272,919
Investment property 5 899,626 889,626
1,157,775 1,162,545

CURRENT ASSETS
Stocks 126,522 131,424
Debtors 6 213,904 210,204
Cash at bank and in hand 7 156,485 132,307
496,911 473,935
CREDITORS
Amounts falling due within one year 8 500,501 530,810
NET CURRENT LIABILITIES (3,590 ) (56,875 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,154,185

1,105,670

CREDITORS
Amounts falling due after more than one
year

9

(20,755

)

(142,183

)

PROVISIONS FOR LIABILITIES (9,409 ) (8,837 )
NET ASSETS 1,124,021 954,650

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Other reserves 43,473 43,473
Retained earnings 1,060,548 891,177
1,124,021 954,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Balance Sheet - continued
30 APRIL 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 February 2024 and were signed by:





A F De Marco - Director


MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Mamma Roma 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 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 represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount.
An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.
Subsequently it is measured at fair value at the reporting end date every few years. The surplus or deficit on revaluation is recognised in profit or loss.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.


MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current lax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right lo set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the
financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

Foreign exchange
Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting dale. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction. or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.


Retirement benefits
For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022 361,096 456,610 817,706
Additions - 582 582
At 30 April 2023 361,096 457,192 818,288
DEPRECIATION
At 1 May 2022 136,247 408,540 544,787
Charge for year 7,222 8,130 15,352
At 30 April 2023 143,469 416,670 560,139
NET BOOK VALUE
At 30 April 2023 217,627 40,522 258,149
At 30 April 2022 224,849 48,070 272,919

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 889,626
Additions 10,000
At 30 April 2023 899,626
NET BOOK VALUE
At 30 April 2023 899,626
At 30 April 2022 889,626

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 April 2019 by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The director considers that the open market value of the property at 30 April 2019 closely approximates its cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 97,473 101,211
Other debtors 116,431 108,993
213,904 210,204

MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2023


7. CASH AT BANK AND IN HAND

Cash and cash equivalents are basic financial instruments and included cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 10,713 24,319
Trade creditors 129,859 154,455
Taxation and social security 153,784 102,967
Other creditors 206,145 249,069
500,501 530,810

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 20,755 142,183

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 62,724

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 1,715
Bank loans - 12,178
Bounce back loan 10,713 10,426
10,713 24,319

Amounts falling due between one and two years:
Bank loans - 1-2 years - 12,178
Bounce back loan 1-2 years 10,246 9,994
10,246 22,172

Amounts falling due between two and five years:
Bank loans - 2-5 years - 36,535
Bounce back loan 2-5 years 10,509 20,752
10,509 57,287

MAMMA ROMA LIMITED (REGISTERED NUMBER: 01172766)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2023


10. LOANS - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal - 62,724

The bank loans and overdraft are secured by a fixed legal charge over the company's current and future assets and by a specific charge over the company's property at 375 Holloway Road, London N7 0RN.

11. FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets and liabilities are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial instrument is measured at the present value of the future receipts or payments discounted at a market rate of interest.

12. RELATED PARTY DISCLOSURES

As at the reporting date, a loan of £96,493 had been issued to a company connected by virtue of common directors. The loan is interest free and repayable on demand.