Company registration number 01199959 (England and Wales)
MIACARLA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MIACARLA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MIACARLA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
124,047
81,233
Current assets
Stocks
28,500
31,500
Debtors
4
134,845
104,796
Cash at bank and in hand
1,764,998
1,935,967
1,928,343
2,072,263
Creditors: amounts falling due within one year
5
(425,292)
(541,841)
Net current assets
1,503,051
1,530,422
Total assets less current liabilities
1,627,098
1,611,655
Provisions for liabilities
(30,725)
(19,958)
Net assets
1,596,373
1,591,697
Capital and reserves
Called up share capital
50
50
Capital redemption reserve
50
50
Profit and loss reserves
1,596,273
1,591,597
Total equity
1,596,373
1,591,697

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS102 Section 1A - small entities.

MIACARLA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Ms M Maccioni
Director
Company registration number 01199959 (England and Wales)
MIACARLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Miacarla Limited is a private company limited by shares incorporated in England and Wales. The registered office is 73 Cornhill, London, EC3V 3QQ.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

 

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for food, beverage and service fees net of VAT provided to customers.

 

Revenue from the sale of goods is recognised when the amounts are earned and can be reasonable be estimated. These revenues are recorded net of value added tax collected from customers and are recognised as the related services are delivered.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the lease term of 20 years
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
20% reducing balance

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MIACARLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
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 in the company's balance sheet 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

MIACARLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
61
53
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
319,623
412,025
731,648
Additions
-
0
61,044
61,044
Disposals
-
0
(1,058)
(1,058)
At 31 December 2023
319,623
472,011
791,634
Depreciation and impairment
At 1 January 2023
310,869
339,546
650,415
Depreciation charged in the year
973
16,824
17,797
Eliminated in respect of disposals
-
0
(625)
(625)
At 31 December 2023
311,842
355,745
667,587
Carrying amount
At 31 December 2023
7,781
116,266
124,047
At 31 December 2022
8,754
72,479
81,233
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
72,372
51,062
Other debtors
62,473
53,734
134,845
104,796
MIACARLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
104,420
103,378
Taxation and social security
187,360
239,403
Other creditors
133,512
199,060
425,292
541,841
6
Operating lease commitments
Lessee

At 31 December 2023 the company was committed to making the following payments under the non-cancellable operating leases:

2023
2022
£
£
1,096,644
1,231,645
7
Related party transactions

Included within other creditos is the sum of £26,596 (2022: £86,334) due to the directors of the company.

 

Included in other creditors is an amount of £9,432 (2022: £29,432) due to shareholders and close family members of the directors of the company.

 

There are no terms as to interest or repayment in respect of these balances.

 

During the year the company paid dividends of £101,000 (2022: £138,000) to the directors and their close family members of the company.

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