Registered number
02360423
Marco Angelini & Co Ltd
Filleted Accounts
31 March 2024
Marco Angelini & Co Ltd
Registered number: 02360423
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,889 2,949
Current assets
Stocks 552,875 482,452
Debtors 4 28,982 2,561
Cash at bank and in hand 136,831 131,301
718,688 616,314
Creditors: amounts falling due within one year 5 (164,784) (95,940)
Net current assets 553,904 520,374
Total assets less current liabilities 557,793 523,323
Provisions for liabilities (972) (561)
Net assets 556,821 522,762
Capital and reserves
Called up share capital 2 2
Profit and loss account 556,819 522,760
Shareholders' funds 556,821 522,762
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Marco Angelini
Director
Approved by the board on 27 December 2024
Marco Angelini & Co Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is revenue earned from the sale of goods . Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% on written down value
Stocks
Stocks have been valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 48,222
Additions 2,059
At 31 March 2024 50,281
Depreciation
At 1 April 2023 45,273
Charge for the year 1,119
At 31 March 2024 46,392
Net book value
At 31 March 2024 3,889
At 31 March 2023 2,949
4 Debtors 2024 2023
£ £
Trade debtors 10,900 1,800
Other debtors 18,082 761
28,982 2,561
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 126,192 78,245
Taxation and social security costs 30,727 5,398
Other creditors 7,865 12,297
164,784 95,940
6 Other information
Marco Angelini & Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Stud Cottage
Grays Road
Westerham
Kent
TN16 2HX
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