ACCOUNTS - Final Accounts preparation

Registered number: 14165474

MORELLI’S GELATO MARGATE LTD (FORMERLY MORELLI’S GELATO RETAIL LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

MORELLI’S GELATO MARGATE LTD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MORELLI’S GELATO MARGATE LTD
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morelli’s Gelato Margate Ltd for the year ended 31 December 2024 which comprise the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Morelli’s Gelato Margate Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Morelli’s Gelato Margate Ltd and state those matters that we have agreed to state to the Board of Directors of Morelli’s Gelato Margate Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morelli’s Gelato Margate Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morelli’s Gelato Margate Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Morelli’s Gelato Margate Ltd. You consider that Morelli’s Gelato Margate Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Morelli’s Gelato Margate Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Nyman Libson Paul LLP

Chartered Accountants

124 Finchley Road

London

NW3 5JS

19 December 2025

Page 1

MORELLI’S GELATO MARGATE LTD

REGISTERED NUMBER: 14165474

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

	2024	2023
Note	£	£


Current assets
Debtors: amounts falling due within one year	3	2,077	2,475
		2,077	2,475
Creditors: amounts falling due within one year	4	(6,100)	(3,600)

Net liabilities		(4,023)	(1,125)

Capital and reserves
Called up share capital	5	100	100
Profit and loss account		(4,123)	(1,225)
		(4,023)	(1,125)

For the year ended 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 income and retained earnings 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 19 December 2025.

E Morelli Schofield

Director

The notes on pages 3 to 4 form part of these financial statements.

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MORELLI’S GELATO MARGATE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Morelli's Gelato Retail Limited is a private company limited by shares incorporated in England and Wales. The company's registered office is 124 Finchley Road, London, NW3 5JS.
On 12 June 2025, the company changed it's name from Morelli's Gelato Retail Ltd, to Morelli's Gelato Margate Ltd.

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.

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 parent company.
After reviewing the company's forecast and projection, the director has 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

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.

2.5

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.

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MORELLI’S GELATO MARGATE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	2,077	2,475
	2,077	2,475

4.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Amounts owed to group undertakings	1,780	-
Other creditors	4,320	3,600
	6,100	3,600

5.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £1.00 each	100	100

6.	Related party transactions
	The company has taken advantage of the exemptions from disclosure available to subsidiary undertakings under section 33.1A of FRS 102 in connection with intra group transactions.

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