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REGISTERED NUMBER: SC261032 (Scotland)




















Mastrocinque Mamma Roma Ltd.

Unaudited Financial Statements

for the Year Ended 31 May 2024






Mastrocinque Mamma Roma Ltd. (Registered number: SC261032)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mastrocinque Mamma Roma Ltd.

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M V Mastrocinque
Mrs F Mastrocinque



SECRETARY: M M Mastrocinque



REGISTERED OFFICE: The Lighthouse
Heugh Road
North Berwick
EH39 5PX



REGISTERED NUMBER: SC261032 (Scotland)



ACCOUNTANTS: Whitelaw Wells
The Lighthouse
Heugh Road
North Berwick
EH39 5PX



SOLICITORS: Paris Steele & Co WS
35 Westgate
North Berwick
East Lothian
EH39 4AG

Mastrocinque Mamma Roma Ltd. (Registered number: SC261032)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 330,226 332,832
330,226 332,832

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 6 2,922 3,461
Cash at bank and in hand 228,016 373,514
236,938 382,975
CREDITORS
Amounts falling due within one year 7 145,804 215,808
NET CURRENT ASSETS 91,134 167,167
TOTAL ASSETS LESS CURRENT LIABILITIES 421,360 499,999

CREDITORS
Amounts falling due after more than one
year

8

-

(18,000

)

PROVISIONS FOR LIABILITIES (16,901 ) (16,975 )
NET ASSETS 404,459 465,024

Mastrocinque Mamma Roma Ltd. (Registered number: SC261032)

Balance Sheet - continued
31 May 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 71,000 71,000
Retained earnings 333,459 394,024
SHAREHOLDERS' FUNDS 404,459 465,024

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





M V Mastrocinque - Director


Mastrocinque Mamma Roma Ltd. (Registered number: SC261032)

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

1. STATUTORY INFORMATION

Mastrocinque Mamma Roma Ltd. 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 represents the sale of restaurant food net of value added tax.

Revenues are recognised as those services are provided to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a restaurant business previously operated as a Partnership, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost and 10% on cost

Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Financial instruments
Financial instruments comprise financial assets and financial liabilities which are recognised when the company become a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method.The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost compromise bank, cash and other debtors. Financial liabilities compromise trade creditors, hire purchase, accruals and other creditors.


Mastrocinque Mamma Roma Ltd. (Registered number: SC261032)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade for the foreseeable future. The directors' have no concerns that the company will continue to trade for at least 12 months from the signing of these financial statements.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 22 ) .

Mastrocinque Mamma Roma Ltd. (Registered number: SC261032)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 135,350
AMORTISATION
At 1 June 2023
and 31 May 2024 135,350
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 226,286 250,786 477,072
Additions - 21,649 21,649
At 31 May 2024 226,286 272,435 498,721
DEPRECIATION
At 1 June 2023 22,629 121,611 144,240
Charge for year 4,526 19,729 24,255
At 31 May 2024 27,155 141,340 168,495
NET BOOK VALUE
At 31 May 2024 199,131 131,095 330,226
At 31 May 2023 203,657 129,175 332,832

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,922 3,461

Mastrocinque Mamma Roma Ltd. (Registered number: SC261032)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 9,000
Trade creditors 44,740 41,039
Taxation and social security 88,819 126,462
Other creditors 12,245 39,307
145,804 215,808

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 18,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 27,000

The Royal Bank of Scotland plc holds a standard security over the property.
The Royal Bank of Scotland plc holds a floating charge over all the property and undertakings of the company.