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Registered number: 02917979 MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED REGISTERED NUMBER: 02917979 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 34,470 |  | 7,095
|  |  | 34,470 |  | 7,095
Current assets |  |  |  |  |
Stocks |  | 44,369 |  | 16,961 |
Debtors: amounts falling due within one year | 5 | 332,737 |  | 344,727 |
Cash at bank and in hand |  | 115 |  | 115 |
|  | 377,221 |  | 361,803 |
Creditors: amounts falling due within one year | 6 | (597,863) |  | (676,231) |
Net current liabilities |  |  | (220,642) |  | (314,428)
Total assets less current liabilities |  |  | (186,172) |  | (307,333)
Creditors: amounts falling due after more than one year | 7 |  | (4,167) |  | (29,893)
Net liabilities |  |  | (190,339) |  | (337,226)
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 1,000 |  | 1,000
Profit and loss account |  |  | (191,339) |  | (338,226)
|  |  | (190,339) |  | (337,226)
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MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED REGISTERED NUMBER: 02917979 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2024 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 November 2025.
E Morelli Schofield
Director
The notes on pages 3 to 7 form part of these financial statements. Page 2
MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Morelli's Cappuccino Bars (Broadstairs) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 124 Finchley Road, London, NW3 5JS. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised at the point of sale of goods to customers in the shop and is recorded net of VAT.
| 2.3 | Going concern
The company meets its day to day working capital requirements through its banking facilities and support from its shareholders. After reviewing the company's forecast and projection, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
| 2.4 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income 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 income. Page 3
MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Improvements to short leasehold property - on length of lease Fixtures, fittings & equipment - 10% straight line basis The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
| 2.7 | Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
| 2.8 | Debtors
Short term debtors are measured at transaction price, less impairment.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.11 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties. Page 4
MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including directors, during the year was 23 (2023 - 26).
4. | Tangible fixed assets
|  | Land and buildings | Fixtures and fittings | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 January 2024 | 71,483 | 117,504 | 188,987
| Additions | 19,286 | 4,927 | 24,213
| At 31 December 2024 | 90,769 | 122,431 | 213,200
| Depreciation |  |  |
| At 1 January 2024 | 71,483 | 110,409 | 181,892
| Charge for the year on owned assets | 1,929 | (5,091) | (3,162)
| At 31 December 2024 | 73,412 | 105,318 | 178,730
| Net book value |  |  |
| At 31 December 2024 | 17,357 | 17,113 | 34,470
| At 31 December 2023 | - | 7,095 | 7,095
Page 5
MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | - | 1,050
| Other debtors | 323,697 | 336,353
| Prepayments and accrued income | 9,040 | 7,324
|  | 332,737 | 344,727
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank overdrafts | 23,498 | 20,541
| Bank loans | 24,204 | 35,000
| Trade creditors | 35,077 | 25,393
| Other taxation and social security | 104,307 | 101,142
| Other creditors | 372,433 | 462,688
| Accruals and deferred income | 38,344 | 31,467
|  | 597,863 | 676,231
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 4,167 | 29,893
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MORELLI'S CAPPUCCINO BARS (BROADSTAIRS) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 24,204 | 35,000
| Amounts falling due 2-5 years |  |
| Bank loans | 4,167 | 29,893
|  | 28,371 | 64,893
9. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,000 Ordinary shares of £1.00 each | 1,000 | 1,000
10. | Pension commitments
The Company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,313 (2023: £5,390). Contributions totaling £582 (2023: £595) were payable to the fund at the reporting date and are included in creditors.
11. | Related party transactions
| At the reporting date the company was owed £323,642 (2023: £336,353) by related parties, whilst owing £357,718 (2023: £433,696) to other related parties. The loans are interest free and repayable on demand.
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