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Registration number: 00453563

Notarianni Brothers (Blackpool) Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 2 November 2024

 

Notarianni Brothers (Blackpool) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Notarianni Brothers (Blackpool) Limited

Company Information

Directors

Mr Michael Vettese

Mr Luca Luigi Vettese

Miss Maddalena Maria Vettese

Mrs Rita Vettese

Registered office

8 Bath Street
Blackpool
Lancashire
FY4 1BT

Accountants

Rawcliffe & Co Limited
Chartered Accountants
Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

 

Notarianni Brothers (Blackpool) Limited

(Registration number: 00453563)
Abridged Balance Sheet as at 2 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

130,315

142,857

Current assets

 

Stocks

800

800

Debtors

2,462

1,341

Cash at bank and in hand

 

165,247

147,775

 

168,509

149,916

Prepayments and accrued income

 

8,864

8,635

Creditors: Amounts falling due within one year

(96,106)

(90,097)

Net current assets

 

81,267

68,454

Total assets less current liabilities

 

211,582

211,311

Creditors: Amounts falling due after more than one year

(9,566)

(25,967)

Provisions for liabilities

(18,000)

(18,000)

Accruals and deferred income

 

(2,483)

(2,295)

Net assets

 

181,533

165,049

Capital and reserves

 

Called up share capital

5

2,000

2,000

Retained earnings

179,533

163,049

Shareholders' funds

 

181,533

165,049

 

Notarianni Brothers (Blackpool) Limited

(Registration number: 00453563)
Abridged Balance Sheet as at 2 November 2024

For the financial year ending 2 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 December 2024 and signed on its behalf by:
 

.........................................
Mr Michael Vettese
Director

.........................................
Mr Luca Luigi Vettese
Director

 
     
 

Notarianni Brothers (Blackpool) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 2 November 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
8 Bath Street
Blackpool
Lancashire
FY4 1BT

These financial statements were authorised for issue by the Board on 2 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency, which is the same as its functional currency, is Sterling. All amounts have been rounded to the nearest whole pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Notarianni Brothers (Blackpool) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 2 November 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

Reducing balance method at 2% p.a.

Plant and machinery

Reducing balance method at 15% p.a.

Fixtures & fittings

Reducing balance method at 25% p.a.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Notarianni Brothers (Blackpool) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 2 November 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 21).

 

Notarianni Brothers (Blackpool) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 2 November 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 3 November 2023

68,631

9,876

299,413

377,920

Additions

-

1,750

7,123

8,873

At 2 November 2024

68,631

11,626

306,536

386,793

Depreciation

At 3 November 2023

34,719

6,128

194,216

235,063

Charge for the year

678

1,374

19,363

21,415

At 2 November 2024

35,397

7,502

213,579

256,478

Carrying amount

At 2 November 2024

33,234

4,124

92,957

130,315

At 2 November 2023

33,912

3,748

105,197

142,857

Included within the net book value of land and buildings above is £33,234 (2023 - £33,912) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2,000

2,000

2,000

2,000