Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07983195 Mr Nigel Marcantonio iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07983195 2023-03-31 07983195 2024-03-31 07983195 2023-04-01 2024-03-31 07983195 frs-core:CurrentFinancialInstruments 2024-03-31 07983195 frs-core:Non-currentFinancialInstruments 2024-03-31 07983195 frs-core:FurnitureFittings 2024-03-31 07983195 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07983195 frs-core:FurnitureFittings 2023-03-31 07983195 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 07983195 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 07983195 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 07983195 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07983195 frs-core:MotorVehicles 2024-03-31 07983195 frs-core:MotorVehicles 2023-04-01 2024-03-31 07983195 frs-core:MotorVehicles 2023-03-31 07983195 frs-core:PlantMachinery 2024-03-31 07983195 frs-core:PlantMachinery 2023-04-01 2024-03-31 07983195 frs-core:PlantMachinery 2023-03-31 07983195 frs-core:ShareCapital 2024-03-31 07983195 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07983195 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07983195 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07983195 frs-bus:SmallEntities 2023-04-01 2024-03-31 07983195 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07983195 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07983195 frs-bus:Director1 2023-04-01 2024-03-31 07983195 frs-bus:Director1 2023-03-31 07983195 frs-bus:Director1 2024-03-31 07983195 frs-core:CurrentFinancialInstruments 1 2024-03-31 07983195 frs-core:CurrentFinancialInstruments 3 2024-03-31 07983195 frs-countries:EnglandWales 2023-04-01 2024-03-31 07983195 2022-03-31 07983195 2023-03-31 07983195 2022-04-01 2023-03-31 07983195 frs-core:CurrentFinancialInstruments 2023-03-31 07983195 frs-core:Non-currentFinancialInstruments 2023-03-31 07983195 frs-core:ShareCapital 2023-03-31 07983195 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07983195 frs-core:CurrentFinancialInstruments 1 2023-03-31 07983195 frs-core:CurrentFinancialInstruments 3 2023-03-31
Registered number: 07983195
Marcantonio Catering Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Accountancy Solutions (Northern) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07983195
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,197,588 2,387,846
3,197,588 2,387,846
CURRENT ASSETS
Stocks 5 40,749 34,266
Debtors 6 1,054,542 671,256
Cash at bank and in hand 12,664 53,780
1,107,955 759,302
Creditors: Amounts Falling Due Within One Year 7 (1,887,919 ) (1,729,092 )
NET CURRENT ASSETS (LIABILITIES) (779,964 ) (969,790 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,417,624 1,418,056
Creditors: Amounts Falling Due After More Than One Year 8 (761,343 ) (740,006 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (338,042 ) (381,394 )
NET ASSETS 1,318,239 296,656
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,318,139 296,556
SHAREHOLDERS' FUNDS 1,318,239 296,656
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nigel Marcantonio
Director
28/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Marcantonio Catering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07983195 . The registered office is The Parlour at Blagdon, Blagdon Smithy, Newcastle Upon Tyne, NE13 6DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold N/A
Leasehold 15 or 10 Years Straight Line or no adjustment
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 49 (2023: 47)
49 47
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost or Valuation
As at 1 April 2023 2,305,354 212,566 5,750 171,023 2,694,693
Additions 129,299 16,151 - 9,835 155,285
Revaluation 688,249 - - - 688,249
As at 31 March 2024 3,122,902 228,717 5,750 180,858 3,538,227
Depreciation
As at 1 April 2023 65,370 149,999 3,931 87,547 306,847
Provided during the period 7,532 11,808 455 13,997 33,792
As at 31 March 2024 72,902 161,807 4,386 101,544 340,639
Net Book Value
As at 31 March 2024 3,050,000 66,910 1,364 79,314 3,197,588
As at 1 April 2023 2,239,984 62,567 1,819 83,476 2,387,846
5. Stocks
2024 2023
£ £
Closing stock 40,749 34,266
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 10,183 18,984
Other debtors (1) 257,044 158,106
Director's loan account 787,315 494,166
1,054,542 671,256
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 144,267 105,383
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 173,854 184,429
VAT 221,302 89,838
Deposits in advance 1,072,503 1,176,906
Other creditors (3) 257,044 158,106
Accruals and deferred income 8,949 4,430
1,887,919 1,729,092
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,167 24,167
Loans 747,176 715,839
761,343 740,006
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Nigel Marcantonio 494,166 293,149 - - 787,315
The above loan is unsecured, repayable on demand and interest charged at 2.5%.
Page 5