Company Registration number: SC254978

Casa Mia (Dumfries) Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 7

Casa Mia (Dumfries) Limited

Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	71,286	44,881
Current assets
Stocks	5	37,818	36,018
Debtors	6	782,578	833,115
Cash at bank and in hand		361,807	424,619
		1,182,203	1,293,752
Creditors: Amounts falling due within one year	7	(284,961)	(367,042)
Net current assets		897,242	926,710
Total assets less current liabilities		968,528	971,591
Creditors: Amounts falling due after more than one year	7	(3,534)	(13,896)
Provisions for liabilities		(13,371)	(8,354)
Net assets		951,623	949,341
Capital and reserves
Called up share capital		3	3
Retained earnings		951,620	949,338
Shareholders' funds		951,623	949,341

Casa Mia (Dumfries) Limited

Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: SC254978

Approved and authorised by the director on 20 May 2025
 

......................................... Mr M V Fusco Director

Casa Mia (Dumfries) Limited

Notes to the financial statements for the Year Ended 31 December 2024

1	GENERAL INFORMATION

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

The address of its registered office is:
51 Newall Terrace
Dumfries
DG1 1LN

These financial statements were authorised for issue by the director on 20 May 2025.

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 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 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 financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

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.

Casa Mia (Dumfries) Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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
Improvements to property	10% Reducing balance
Fixtures, fittings and office equipment	25% Reducing balance
Plant and machinery	25% Reducing balance

Casa Mia (Dumfries) Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

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.

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.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Casa Mia (Dumfries) Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

3	STAFF NUMBERS

The average number of persons employed by the company (including the director) during the year, was 43 (2023 - 32).

4	TANGIBLE ASSETS

	Improvements to property £	Fixtures, fittings and office equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	46,580	65,174	112,232	223,986
Additions	-	6,703	27,655	34,358
At 31 December 2024	46,580	71,877	139,887	258,344
Depreciation
At 1 January 2024	20,825	53,345	104,935	179,105
Charge for the year	2,575	2,224	3,154	7,953
At 31 December 2024	23,400	55,569	108,089	187,058
Carrying amount
At 31 December 2024	23,180	16,308	31,798	71,286
At 31 December 2023	25,755	11,829	7,297	44,881

5

STOCKS

	2024 £	2023 £
Stocks	37,818	36,018

6

DEBTORS

Current	2024 £	2023 £
Trade debtors	8,599	20,097
Other debtors	773,979	813,018
	782,578	833,115

Casa Mia (Dumfries) Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

7

CREDITORS

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	10,416	10,215
Trade creditors		68,830	83,399
Taxation and social security		62,866	140,429
Accruals and deferred income		6,000	52,500
Other creditors		136,849	80,499
		284,961	367,042

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	3,534	13,896

8	LOANS AND BORROWINGS

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	3,534	13,896

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	10,416	10,215