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REGISTERED NUMBER: SC254768 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

L & P Jaconelli Ltd

L & P Jaconelli Ltd (Registered number: SC254768)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L & P Jaconelli Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr Mario Paul Jaconelli
Mr Dario Colaluca





SECRETARY: Mr Mario Paul Jaconelli





REGISTERED OFFICE: 1419 Maryhill Road
Glasgow
G20 9AA





REGISTERED NUMBER: SC254768 (Scotland)





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

L & P Jaconelli Ltd (Registered number: SC254768)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 261,000 270,000
Tangible assets 5 101,930 124,715
362,930 394,715

CURRENT ASSETS
Stock 3,475 4,750
Debtors 6 2,821 9,867
Cash at bank and in hand 50,035 119,430
56,331 134,047
CREDITORS
Amounts falling due within one year 7 87,009 103,438
NET CURRENT (LIABILITIES)/ASSETS (30,678 ) 30,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

332,252

425,324

CREDITORS
Amounts falling due after more than one
year

8

(94,881

)

(137,155

)

PROVISIONS FOR LIABILITIES 10 (25,483 ) (23,696 )
NET ASSETS 211,888 264,473

L & P Jaconelli Ltd (Registered number: SC254768)

Balance Sheet - continued
31 August 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 211,788 264,373
SHAREHOLDERS' FUNDS 211,888 264,473

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 28 October 2024 and were signed on its behalf by:





Mr Mario Paul Jaconelli - Director


L & P Jaconelli Ltd (Registered number: SC254768)

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

1. STATUTORY INFORMATION

L & P Jaconelli 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of fifty 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.
Fittings and equipment - 15% on reducing balance
Motor vehicles - 25% 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.


L & P Jaconelli Ltd (Registered number: SC254768)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

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 25 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 450,000
AMORTISATION
At 1 September 2023 180,000
Amortisation for year 9,000
At 31 August 2024 189,000
NET BOOK VALUE
At 31 August 2024 261,000
At 31 August 2023 270,000

L & P Jaconelli Ltd (Registered number: SC254768)

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

5. TANGIBLE FIXED ASSETS
Fittings
and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 249,532 96,630 346,162
DEPRECIATION
At 1 September 2023 165,582 55,865 221,447
Charge for year 12,594 10,191 22,785
At 31 August 2024 178,176 66,056 244,232
NET BOOK VALUE
At 31 August 2024 71,356 30,574 101,930
At 31 August 2023 83,950 40,765 124,715

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,821 9,867

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,250 11,250
Trade creditors 625 4,437
Taxation and social security 63,030 70,489
Other creditors 12,104 17,262
87,009 103,438

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 46,611 58,885
Other creditors 48,270 78,270
94,881 137,155

L & P Jaconelli Ltd (Registered number: SC254768)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,611 13,885

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 57,861 70,135

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 25,483 23,696

Deferred
tax
£   
Balance at 1 September 2023 23,696
Provided during year 1,787
Balance at 31 August 2024 25,483

11. CALLED UP SHARE CAPITAL

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

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There was an overdrawn directors loan account of £7,800 at the end of the financial year.
This will be repaid within nine month of the year end.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who are jointly interested in 61% of the company's issued share capital.