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REGISTERED NUMBER: SC493139 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Marcesco Limited
Trading as
Gizzi Espresso Bar

Marcesco Limited (Registered number: SC493139)
Trading as Gizzi Espresso Bar






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marcesco Limited
Trading as Gizzi Espresso Bar

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Ms Leonora Gizzi
Mrs Marisa Wylie





REGISTERED OFFICE: 25 Sandyford Place
Sauchiehall Street
Glasgow
G3 7NG





REGISTERED NUMBER: SC493139 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Marcesco Limited (Registered number: SC493139)
Trading as Gizzi Espresso Bar

Balance Sheet
31 January 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 6,000
Tangible assets 5 6,801 7,863
10,801 13,863

CURRENT ASSETS
Stock 1,600 1,500
Debtors 6 66,207 68,389
Cash at bank and in hand 31,638 42,240
99,445 112,129
CREDITORS
Amounts falling due within one year 7 34,454 43,977
NET CURRENT ASSETS 64,991 68,152
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,792

82,015

CREDITORS
Amounts falling due after more than one
year

8

(30,834

)

(23,334

)

PROVISIONS FOR LIABILITIES 9 (648 ) (815 )
NET ASSETS 44,310 57,866

Marcesco Limited (Registered number: SC493139)
Trading as Gizzi Espresso Bar

Balance Sheet - continued
31 January 2024

2024 2023
as restated
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 44,308 57,864
SHAREHOLDERS' FUNDS 44,310 57,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





Mrs Marisa Wylie - Director


Marcesco Limited (Registered number: SC493139)
Trading as Gizzi Espresso Bar

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Marcesco 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.

Goodwill
Goodwill represents the acquisition of the business in 2015. This is being written off on a straight line basis over 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - not provided
Fittings and equipment - 20% on reducing balance

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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.


Marcesco Limited (Registered number: SC493139)
Trading as Gizzi Espresso Bar

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 20,000
AMORTISATION
At 1 February 2023 14,000
Amortisation for year 2,000
At 31 January 2024 16,000
NET BOOK VALUE
At 31 January 2024 4,000
At 31 January 2023 6,000

Marcesco Limited (Registered number: SC493139)
Trading as Gizzi Espresso Bar

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fittings
Short and
leasehold equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 2,555 19,590 22,145
DEPRECIATION
At 1 February 2023 - 14,282 14,282
Charge for year - 1,062 1,062
At 31 January 2024 - 15,344 15,344
NET BOOK VALUE
At 31 January 2024 2,555 4,246 6,801
At 31 January 2023 2,555 5,308 7,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Other debtors 66,207 68,389

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts - 10,000
Taxation and social security 32,581 31,751
Other creditors 1,873 2,226
34,454 43,977

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
as restated
£    £   
Bank loans 30,834 23,334

Marcesco Limited (Registered number: SC493139)
Trading as Gizzi Espresso Bar

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax 648 815

Deferred
tax
£   
Balance at 1 February 2023 815
Provided during year (167 )
Balance at 31 January 2024 648

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
2 Ordinary £1 2 2