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
Moretti & Rosini Ltd
Company Information
for the year ended 30 June 2024
Directors
G Moretti
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
Moretti & Rosini Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
502,561
500,968
Investment property
499,385
487,242
Cash at bank and in hand
266,886
288,623
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
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
Moretti & Rosini Ltd
Notes to the Accounts
for the year ended 30 June 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 is stated at historic cost on the basis that due to the property's location, obtaining fair value would be prohibitively expensive.
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.
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.
Moretti & Rosini Ltd
Notes to the Accounts
for the year ended 30 June 2024
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
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
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
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
Fair value at 1 July 2023
487,242
Amounts falling due within one year
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
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
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).