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REGISTERED NUMBER: 10185261 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

M & N RICCIO LTD

M & N RICCIO LTD (REGISTERED NUMBER: 10185261)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & N RICCIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mrs N Riccio
Mr M Riccio





REGISTERED OFFICE: 12 High Street
Stanford le Hope
Essex
SS17 9HT





REGISTERED NUMBER: 10185261 (England and Wales)





ACCOUNTANTS: Elliott, Mortlock, Busby & Co Limited
12 High Street
Stanford le Hope
Essex
SS17 0EY

M & N RICCIO LTD (REGISTERED NUMBER: 10185261)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,628 5,206

CURRENT ASSETS
Stocks 3,300 3,000
Debtors 5 6,592 3,596
Cash at bank and in hand 246,907 274,909
256,799 281,505
CREDITORS
Amounts falling due within one year 6 70,522 76,793
NET CURRENT ASSETS 186,277 204,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,905

209,918

CREDITORS
Amounts falling due after more than one
year

7

(26,853

)

(32,963

)

PROVISIONS FOR LIABILITIES 9 (879 ) -
NET ASSETS 163,173 176,955

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 163,073 176,855
SHAREHOLDERS' FUNDS 163,173 176,955

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

M & N RICCIO LTD (REGISTERED NUMBER: 10185261)

BALANCE SHEET - continued
31 JULY 2024


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 23 October 2024 and were signed on its behalf by:





Mr M Riccio - Director


M & N RICCIO LTD (REGISTERED NUMBER: 10185261)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

M & N Riccio Ltd is a private company, limited by shares , registered in England and Wales. 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
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 all amounts received and receivable in respect of goods and services supplied by the company during the year excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Office equipment - 3 years straight line basis
Fixtures and fittings - 25% on reducing balance

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

Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Basic financial instruments are initially recognised at transaction price and then subsequently at amortised cost with the exception of equity investments that are initially measured at fair value (being the transaction price excluding any transaction costs) with subsequent measurements at fair value, with changes recognised in profit and loss.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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.

M & N RICCIO LTD (REGISTERED NUMBER: 10185261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and Office and
machinery equipment fittings Totals
£    £    £    £   
COST
At 1 August 2023 6,978 1,907 5,258 14,143
Additions - - 1,028 1,028
At 31 July 2024 6,978 1,907 6,286 15,171
DEPRECIATION
At 1 August 2023 5,414 1,772 1,751 8,937
Charge for year 391 104 1,111 1,606
At 31 July 2024 5,805 1,876 2,862 10,543
NET BOOK VALUE
At 31 July 2024 1,173 31 3,424 4,628
At 31 July 2023 1,564 135 3,507 5,206

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,592 3,596

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,000
Trade creditors 2,967 13,273
Corporation tax 7,490 15,375
Social security and other taxes 16,760 19,981
Other creditors 2,545 2,107
Directors' current accounts 35,204 21,057
70,522 76,793

M & N RICCIO LTD (REGISTERED NUMBER: 10185261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,556 10,000
Bank loans - 2-5 years 16,667 15,000
Bank loans more 5 yr by instal 4,630 7,963
26,853 32,963

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,630 7,963

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 46,505 15,236
Between one and five years 27,932 29,113
74,437 44,349

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 879 -

Deferred
tax
£   
Charge to Income Statement during year 879
Balance at 31 July 2024 879

The provision for deferred taxation is made up of accelerated capital allowances.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date there were unpaid contributions totalling £646 (2023: £627).