Maestro Calabrese International Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04770743 (England and Wales)

MAESTRO CALABRESE INTERNATIONAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

S A Calabrese

S M Calabrese

SECRETARY:

S M Calabrese

REGISTERED OFFICE:

24 Leadale Avenue

Chingford

London

E4 8AT

REGISTERED NUMBER:

04770743 (England and Wales)

ACCOUNTANTS:

John Crook & Partners

Chartered Accountants

255 Green Lanes

Palmers Green

London

N13 4XE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

27,601

4,150

27,601

4,150

CURRENT ASSETS

Debtors

6

27,186

14,021

Cash at bank and in hand

142,558

128,260

169,744

142,281

CREDITORS

Amounts falling due within one year

7

25,650

13,962

NET CURRENT ASSETS

144,094

128,319

TOTAL ASSETS LESS CURRENT LIABILITIES

171,695

132,469

PROVISIONS FOR LIABILITIES

8

5,212

-

NET ASSETS

166,483

132,469

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

166,383

132,369

SHAREHOLDERS' FUNDS

166,483

132,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2023 and were signed on its behalf by:

S A Calabrese - Director

S M Calabrese - Director

1.	STATUTORY INFORMATION

Maestro Calabrese International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is the amount receivable by the company for goods supplied and services provided.

Patents and licenses

Patent Rights are being amortised on a straight line basis over ten years.

Website

Website costs are being amortised on a straight line basis over five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Website

licences

costs

Totals

£

£

£

COST

At 1 June 2021

and 31 May 2022

11,534

8,468

20,002

AMORTISATION

At 1 June 2021

and 31 May 2022

11,534

8,468

20,002

NET BOOK VALUE

At 31 May 2022

-

-

-

At 31 May 2021

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2021

11,397

25,435

6,900

43,732

Additions

-

29,445

-

29,445

Disposals

-

(25,435

)

-

(25,435

)

At 31 May 2022

11,397

29,445

6,900

47,742

DEPRECIATION

At 1 June 2021

11,397

21,285

6,900

39,582

Charge for year

-

1,844

-

1,844

Eliminated on disposal

-

(21,285

)

-

(21,285

)

At 31 May 2022

11,397

1,844

6,900

20,141

NET BOOK VALUE

At 31 May 2022

-

27,601

-

27,601

At 31 May 2021

-

4,150

-

4,150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

26,304

11,465

Other debtors

-

1,032

Value added tax

-

642

Prepayments

882

882

27,186

14,021

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Corporation tax

9,816

-

Social security and other taxes

2,416

3,470

Value added tax

838

-

Other creditors

10,047

7,972

Directors' current accounts

2,533

2,520

25,650

13,962

8.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

5,212

-

Deferred

tax

£

Accelerated capital allowances

5,212

Balance at 31 May 2022

5,212

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

During the year the company purchased goods to the value of £15,677 (2021 £629) from S A Calabrese from his personal vintage collection.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by S A Calabrese.