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REGISTERED NUMBER: SC074183 (Scotland)















Unaudited Financial Statements

for the Period 19 June 2022 to 17 June 2023

for

F.J. Esposito Limited

F.J. Esposito Limited (Registered number: SC074183)






Contents of the Financial Statements
for the Period 19 June 2022 to 17 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


F.J. Esposito Limited

Company Information
for the Period 19 June 2022 to 17 June 2023







DIRECTOR: F J Esposito



REGISTERED OFFICE: 61 Lorne Street
Dundee
DD2 3HE



REGISTERED NUMBER: SC074183 (Scotland)



ACCOUNTANTS: HMR Consulting Limited
Kirk Farm Cottage
Lundie
Dundee
Angus
DD2 5NW



SOLICITORS: BTO Solicitors LLP
One Edinburgh Quay
133 Fountainbridge
Edinburgh
EH3 9QG

F.J. Esposito Limited (Registered number: SC074183)

Statement of Financial Position
17 June 2023

17.6.23 18.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,625 44,283
Investments 5 500,000 500,000
541,625 544,283

CURRENT ASSETS
Stocks 19,540 14,436
Debtors 6 322,003 385,041
Cash at bank and in hand 736,524 518,386
1,078,067 917,863
CREDITORS
Amounts falling due within one year 7 684,127 552,693
NET CURRENT ASSETS 393,940 365,170
TOTAL ASSETS LESS CURRENT
LIABILITIES

935,565

909,453

PROVISIONS FOR LIABILITIES 7,624 7,763
NET ASSETS 927,941 901,690

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Retained earnings 925,941 899,690
SHAREHOLDERS' FUNDS 927,941 901,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 17 June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 17 June 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.

F.J. Esposito Limited (Registered number: SC074183)

Statement of Financial Position - continued
17 June 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 22 February 2024 and were signed by:





F J Esposito - Director


F.J. Esposito Limited (Registered number: SC074183)

Notes to the Financial Statements
for the Period 19 June 2022 to 17 June 2023

1. STATUTORY INFORMATION

F.J. Esposito 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements and going concern
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.

At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue operating for the foreseeable future. The director therefore continues to adopt the going concern basis of accounting in the preparation of the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable fot the sale of goods and
services to customers in the ordinary nature of business. Turnover is shown net of value added tax. Turnover is recognised when goods have been delivered to the customer. Turnover is generated by the sale
of food and drink.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration
received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following
criteria must also be met before turnover is recognised:

Sale of goods:
- turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

F.J. Esposito Limited (Registered number: SC074183)

Notes to the Financial Statements - continued
for the Period 19 June 2022 to 17 June 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and
any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to
bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated
useful lives, on a reducing balance basis. Depreciation is provided on the following basis:

Tenant's Improvements - 15% reducing balance
Motor vehicles - 25% reducing balance
Fixtures, Fittings & Equipment - 20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively
if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are
recognised in the Statement of income and retained earnings.

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to
complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and
finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in
profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in non-puttable ordinary shares.


F.J. Esposito Limited (Registered number: SC074183)

Notes to the Financial Statements - continued
for the Period 19 June 2022 to 17 June 2023

2. ACCOUNTING POLICIES - continued
Current and deferred taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of
income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in
other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the Company operates and generates
income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Statement of financial position date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax
allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business
combinations, when deferred tax is recognised on the differences between the fair values of assets acquired
and the future tax deductions available for them and the differences between the fair values of liabilities
acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Foreign currencies
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary
items measured at historical cost are translated using the exchange rate at the date of the transaction and
non-monetary items measured at fair value are measured using the exchange rate when fair value was
determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at
period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are
recognised in the Statement of income and retained earnings except when deferred in other comprehensive
income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented
in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange
gains and losses are presented in the Statement of income and retained earnings within 'other operating income'.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 23 (2022 - 17 ) .

F.J. Esposito Limited (Registered number: SC074183)

Notes to the Financial Statements - continued
for the Period 19 June 2022 to 17 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 19 June 2022 220,333
Additions 7,642
At 17 June 2023 227,975
DEPRECIATION
At 19 June 2022 176,050
Charge for period 10,300
At 17 June 2023 186,350
NET BOOK VALUE
At 17 June 2023 41,625
At 18 June 2022 44,283

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 19 June 2022
and 17 June 2023 500,000
NET BOOK VALUE
At 17 June 2023 500,000
At 18 June 2022 500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
17.6.23 18.6.22
£    £   
Trade debtors 56,189 31,910
Other debtors 265,814 353,131
322,003 385,041

F.J. Esposito Limited (Registered number: SC074183)

Notes to the Financial Statements - continued
for the Period 19 June 2022 to 17 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
17.6.23 18.6.22
£    £   
Trade creditors 120,618 88,806
Taxation and social security 46,190 24,339
Other creditors 517,319 439,548
684,127 552,693

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 17.6.23 18.6.22
value: £    £   
2,000 Ordinary £1 2,000 2,000