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Company Registration No. 5148752 (England and Wales)
Moretti & Rosini Ltd Unaudited accounts for the year ended 30 June 2024
Moretti & Rosini Ltd Unaudited accounts Contents
Page
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Moretti & Rosini Ltd Company Information for the year ended 30 June 2024
Directors
G Moretti C Moretti
Secretary
C Moretti
Company Number
5148752 (England and Wales)
Registered Office
237 GLOUCESTER ROAD CHELTENHAM GLOUCESTERSHIRE GL51 8NJ UK
Accountants
Marc Austin Accountancy 40 Stonecote Ridge Bussage Stroud Gloucestershire GL6 8JY
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Moretti & Rosini Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
502,561 
500,968 
Investment property
499,385 
487,242 
1,001,946 
988,210 
Current assets
Debtors
2,483 
4,551 
Cash at bank and in hand
266,886 
288,623 
269,369 
293,174 
Creditors: amounts falling due within one year
(351,711)
(387,972)
Net current liabilities
(82,342)
(94,798)
Total assets less current liabilities
919,604 
893,412 
Provisions for liabilities
Deferred tax
(2,268)
(1,870)
Net assets
917,336 
891,542 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
917,334 
891,540 
Shareholders' funds
917,336 
891,542 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by
G Moretti Director Company Registration No. 5148752
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Moretti & Rosini Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
Moretti & Rosini Ltd is a private company, limited by shares, registered in England and Wales, registration number 5148752. The registered office is 237 GLOUCESTER ROAD, CHELTENHAM, GLOUCESTERSHIRE, GL51 8NJ, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance basis
Motor vehicles
25% Reducing Balance basis
Computer equipment
33% Reducing Balance basis
Investment property
Investment property is stated at historic cost on the basis that due to the property's location, obtaining fair value would be prohibitively expensive.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Moretti & Rosini Ltd Notes to the Accounts for the year ended 30 June 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2023
29,123 
At 30 June 2024
29,123 
Amortisation
At 1 July 2023
29,123 
At 30 June 2024
29,123 
Net book value
At 30 June 2024
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 July 2023
491,758 
18,668 
8,667 
424 
519,517 
Additions
- 
268 
10,467 
1,107 
11,842 
Disposals
- 
- 
(8,667)
- 
(8,667)
At 30 June 2024
491,758 
18,936 
10,467 
1,531 
522,692 
Depreciation
At 1 July 2023
- 
16,242 
2,167 
140 
18,549 
Charge for the year
- 
673 
2,617 
459 
3,749 
On disposals
- 
- 
(2,167)
- 
(2,167)
At 30 June 2024
- 
16,915 
2,617 
599 
20,131 
Net book value
At 30 June 2024
491,758 
2,021 
7,850 
932 
502,561 
At 30 June 2023
491,758 
2,426 
6,500 
284 
500,968 
6
Investment property
2024 
£ 
Fair value at 1 July 2023
487,242 
Additions
12,143 
At 30 June 2024
499,385 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,790 
Trade debtors
2,483 
2,761 
2,483 
4,551 
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Moretti & Rosini Ltd Notes to the Accounts for the year ended 30 June 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
261,208 
274,343 
VAT
179 
- 
Trade creditors
12,584 
378 
Taxes and social security
7,093 
17,085 
Other creditors
49,000 
52,000 
Loans from directors
20,525 
43,071 
Accruals
1,122 
1,095 
351,711 
387,972 
Bank loans are secured on freehold land and buildings.
9
Transactions with related parties
During the year the directors have made an unsecured loan to the company of £20,525 (2023 - £43,071). No formal repayment terms exist for this loan and no interest is charged on the outstanding balance.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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