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REGISTERED NUMBER: 08409600 (England and Wales)











Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Caraccio's Limited

Caraccio's Limited (Registered number: 08409600)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Caraccio's Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: K J Caraccio



REGISTERED OFFICE: Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



REGISTERED NUMBER: 08409600 (England and Wales)



ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: Lloyds TSB
43 The Thoroughfare
Halesworth
Suffolk
IP19 8AX

Caraccio's Limited (Registered number: 08409600)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,578 9,920

CURRENT ASSETS
Stocks 11,498 12,149
Debtors 5 26,815 38,119
38,313 50,268
CREDITORS
Amounts falling due within one year 6 99,642 78,410
NET CURRENT LIABILITIES (61,329 ) (28,142 )
TOTAL ASSETS LESS CURRENT LIABILITIES (53,751 ) (18,222 )

CREDITORS
Amounts falling due after more than one
year

7

11,928

11,250
NET LIABILITIES (65,679 ) (29,472 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (65,779 ) (29,572 )
SHAREHOLDERS' FUNDS (65,679 ) (29,472 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Caraccio's Limited (Registered number: 08409600)

Statement of Financial Position - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





K J Caraccio - Director


Caraccio's Limited (Registered number: 08409600)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Caraccio's Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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 statement of financial position date.


Caraccio's Limited (Registered number: 08409600)

Notes to the Financial Statements - continued
for the Year Ended 29 February 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 statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Going concern
The company had negative reserves of £65,679 at the statement of financial position date, however the director has indicated his willingness to continue to support the company as necessary. Accordingly, the director considers that the company is a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 2,770 27,333 30,103
DEPRECIATION
At 1 March 2023 1,469 18,714 20,183
Charge for year 187 2,155 2,342
At 29 February 2024 1,656 20,869 22,525
NET BOOK VALUE
At 29 February 2024 1,114 6,464 7,578
At 28 February 2023 1,301 8,619 9,920

Caraccio's Limited (Registered number: 08409600)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 22,333
Transfer to ownership (22,333 )
At 29 February 2024 -
DEPRECIATION
At 1 March 2023 14,089
Transfer to ownership (14,089 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 8,244

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,468 15,654
Amounts owed by group undertakings 21,533 21,533
Other debtors 2,814 932
26,815 38,119

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,251 22,577
Hire purchase contracts - 2,764
Trade creditors 246 1,746
Taxation and social security 1,132 5,249
Other creditors 80,013 46,074
99,642 78,410

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,928 11,250

Caraccio's Limited (Registered number: 08409600)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,815 28,302

Fixed and floating charge held over the company's assets

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100