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REGISTERED NUMBER: 09431710 (England and Wales)















Financial Statements for the Year Ended 29th February 2024

for

Signorelli Limited

Signorelli Limited (Registered number: 09431710)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Signorelli Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: Mr A Rosmini
Ms R Stevenson





REGISTERED OFFICE: 34-35 Clarges Street
Mayfair
London
W1J 7EJ





REGISTERED NUMBER: 09431710 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Signorelli Limited (Registered number: 09431710)

Balance Sheet
29th February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 302,304 337,450

CURRENT ASSETS
Stocks 3,500 3,500
Debtors 5 89,112 29,350
Cash at bank 76,333 155,901
168,945 188,751
CREDITORS
Amounts falling due within one year 6 132,146 156,002
NET CURRENT ASSETS 36,799 32,749
TOTAL ASSETS LESS CURRENT LIABILITIES 339,103 370,199

CREDITORS
Amounts falling due after more than one year 7 16,667 26,667
NET ASSETS 322,436 343,532

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 322,435 343,531
322,436 343,532

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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 29th November 2024 and were signed on its behalf by:



Mr A Rosmini - Director



Ms R Stevenson - Director


Signorelli Limited (Registered number: 09431710)

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

1. STATUTORY INFORMATION

Signorelli 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.

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.

The principle activity of the company is a Bakery/Cafe business. Revenue is recognised at the point of sale of goods and at the point of the provision of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Leasehold property - 10 years straight line
Plant and machinery - 5 years straight line
Fixtures and fittings - 5 years straight line
Computer equipment - 3 years straight line


Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

Leasehold
Leasehold includes improvement of the property. These are stated at cost less accumulated depreciation. The cost of the lease is amortised over the period of the lease.

Plant and machinery and others
Plant and machinery, fixtures and fittings and computer equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

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

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.

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.

Signorelli Limited (Registered number: 09431710)

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

2. ACCOUNTING POLICIES - continued

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 25 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st March 2023 609,805 47,123 52,061 5,834 714,823
Additions - - 3,195 7,231 10,426
At 29th February 2024 609,805 47,123 55,256 13,065 725,249
DEPRECIATION
At 1st March 2023 308,730 47,123 15,686 5,834 377,373
Charge for year 33,453 - 9,733 2,386 45,572
At 29th February 2024 342,183 47,123 25,419 8,220 422,945
NET BOOK VALUE
At 29th February 2024 267,622 - 29,837 4,845 302,304
At 28th February 2023 301,075 - 36,375 - 337,450

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Other debtors 89,112 29,350

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts (see note 8) 7,500 7,500
Trade creditors 2,332 15,532
Taxation and social security 13,094 21,847
Other creditors 109,220 111,123
132,146 156,002

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans (see note 8) 16,667 26,667

Signorelli Limited (Registered number: 09431710)

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

8. LOANS

An analysis of the maturity of loans is given below:

29/2/24 28/2/23
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,500 7,500
Other loans 99,220 99,220
106,720 106,720

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,667 26,667

In July 2020 the company obtained a Bounce Back loan for £50,000. The loan is repayable over 5 years, starting in August 2021. Interest is at a rate of 2.5%.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023:

29/2/24 28/2/23
£    £   
Mr A Rosmini
Balance outstanding at start of year - -
Amounts advanced 60,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,000 -