Registered number
07101165
Rosie Colicci Limited
Filleted Accounts
31 December 2023
Rosie Colicci Limited
Registered number: 07101165
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 278,806 96,106
278,806 96,106
Current assets
Stocks 55,000 39,000
Debtors 4 213,828 117,876
Cash at bank and in hand 321,229 264,217
590,057 421,093
Creditors: amounts falling due within one year 5 (167,952) (120,331)
Net current assets 422,105 300,762
Total assets less current liabilities 700,911 396,868
Creditors: amounts falling due after more than one year 6 (473,949) (189,482)
Provisions for liabilities - -
Net assets 226,962 207,386
Capital and reserves
Called up share capital 100 100
Profit and loss account 226,862 207,286
Shareholders' funds 226,962 207,386
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms Rosana M Colicci
Director
Approved by the board on 17 September 2024
Rosie Colicci Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 18
3 Tangible fixed assets
Fixtures,
Fittings &
Equipment
Motor vehicles Total
£ £ £
Cost
At 1 January 2023 277,833 60,495 338,328
Additions 186,045 157,000 343,045
Surplus on revaluation - - -
Disposals - - -
At 31 December 2023 463,878 217,495 681,373
Depreciation
At 1 January 2023 191,902 50,320 242,222
Charge for the year 115,970 44,375 160,345
Surplus on revaluation - - -
On disposals - - -
At 31 December 2023 307,872 94,695 402,567
Net book value
At 31 December 2023 156,006 122,800 278,806
At 31 December 2022 85,931 10,175 96,106
4 Debtors 2023 2022
£ £
Trade debtors 96,398 53,688
Love Churros London Ltd 35,753 35,693
Colicci Investments Ltd 68,812 24,674
Love Churros Franchise Ltd 12,865 3,821
213,828 117,876
5 Creditors: amounts falling due within one year 2023 2022
£ £
Funding Circle Loan 34,621 34,621
Bank Loan 33,240 -
Bounce Back Loan 9,500 18,740
Obligations under finance lease and hire purchase contracts 12,692 8,025
Trade creditors 26,558 25,515
Taxation and social security costs 50,783 33,430
Director's Current Account 558 -
167,952 120,331
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 155,424 15,006
Obligations under finance lease and hire purchase contracts 195,660 14,373
Bounce Back Loan 27,074 31,016
Funding Circle Loan 95,791 129,087
473,949 189,482
7 Loans 2023 2022
£ £
Secured bank loans 180,000 -
During the year the company borrowed a further £180,000 from Barclays Bank to finance upgrading some units. The loan is secured on 09 Ashcroft Park, Cobham, and also on a fixed and floating debenture and a personal guarantee from the director.
8 Related party transactions
The balances owed by Love Churros London Ltd is an associated company. The balance owed by Colicci Investments Ltd is a company wholly owned by the director of the company. The transactions with Rosie Colicci Ltd is also an associated company.
9 Unsecured Loans
The bank Loan, Bounce Back Loan and loans from Funding Circle are all unsecured loans. There are personal guarantees by the directors for the loan with Funding Circle Ltd.
10 Other information
Rosie Colicci Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8 Mitcham Industrial Estate
Streatham Road
Mitcham
Surrey
CR4 2AP
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