| Marsotti Ltd |
| Data not obtained from trial balance |
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Current year |
Comparative |
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| Units (eg £ or £000) |
£ |
include a trailing space |
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| Company registration number |
06166244 |
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Date |
| Approval date of the accounts by the board |
06/10/2022 |
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Date |
| Date of signing on the audit/accountants report |
06/10/2022 |
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| Date of engagement letter (required for |
Date |
| CA and ACCA reports) |
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| Person signing directors' report: |
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Name of director |
Mark France |
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Or, name of secretary |
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| Name of director signing balance sheet |
Mark France |
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| Address of registered office: |
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Address line 1 |
Fiddlers Place |
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Address line 2 |
Town Head |
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City or town |
Eyam, Hope Valley |
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County or region |
Derbyshire |
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Postcode |
S22 5RE |
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| Name of senior statutory auditor |
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| Name of auditors/accountants |
Hazel Accountancy Services |
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| Type of firm (eg Chartered Accountants) |
Accountants |
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| Address of auditors/accountants |
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Address line 1 |
1 Manor Cottages |
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Address line 2 |
Little Longstone |
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City or town |
Bakewell |
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County or region |
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Postcode |
DE45 1NN |
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| Prior year adjustments (+ for a gain; - for a loss) |
£ |
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Correction of prior year errors |
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Effect of retrospective changes in accounting policies |
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More info on prior year adjustments |
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| Number |
Number |
| Average number of persons employed by the company |
- |
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- |
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| Freehold land & buildings if |
| revalued amounts shown in trial balance: |
£ |
£ |
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historical cost |
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cumulative depreciation based on cost |
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| Historical cost of fixed asset investments |
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£ |
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Investments in subsidiaries |
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Other investments |
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£ |
| Amounts due after more than one year included in debtors |
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| Amounts included in creditors falling due for payment |
| after more than five years: |
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£ |
| Payable otherwise than by installment |
| Payable by installment |
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£ |
| Secured bank loans included in creditors |
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| Capital commitments: |
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£ |
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contracted |
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| Total future payments due under non-cancellable |
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£ |
| operating leases |
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| Marsotti Ltd |
| Notes to the Accounts |
| for the year ended 31 August 2022 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures & fittings |
15% reducing balance |
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Equipment |
over 3 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery |
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Total |
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Cost |
£ |
£ |
£ |
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At 1 September 2021 |
11,312 |
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33,995 |
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45,307 |
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At 31 August 2022 |
11,312 |
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33,995 |
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45,307 |
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Depreciation |
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At 1 September 2021 |
8,752 |
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33,781 |
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42,533 |
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Charge for the year |
384 |
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90 |
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474 |
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At 31 August 2022 |
9,136 |
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33,871 |
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43,007 |
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Net book value |
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At 31 August 2022 |
2,176 |
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124 |
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2,300 |
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At 31 August 2021 |
2,560 |
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214 |
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2,774 |
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| 3 |
Creditors: amounts falling due within one year |
2022 |
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2021 |
| £ |
£ |
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Directors current accounts |
237 |
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237 |
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Trade creditors |
(12,851) |
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- |
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Taxation and social security costs |
11,526 |
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6,713 |
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Other creditors |
1,800 |
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500 |
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712 |
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7,450 |
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| 4 |
Other information |
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Marsotti Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Fiddlers Place |
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Town Head |
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Eyam, Hope Valley |
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Derbyshire |
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S22 5RE |
