Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2021-01-01false117117true 10671313 2021-01-01 2021-12-31 10671313 2020-01-01 2020-12-31 10671313 2021-12-31 10671313 2020-12-31 10671313 c:Director2 2021-01-01 2021-12-31 10671313 d:Buildings d:LongLeaseholdAssets 2021-01-01 2021-12-31 10671313 d:Buildings d:LongLeaseholdAssets 2021-12-31 10671313 d:Buildings d:LongLeaseholdAssets 2020-12-31 10671313 d:PlantMachinery 2021-01-01 2021-12-31 10671313 d:PlantMachinery 2021-12-31 10671313 d:PlantMachinery 2020-12-31 10671313 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10671313 d:MotorVehicles 2021-01-01 2021-12-31 10671313 d:MotorVehicles 2021-12-31 10671313 d:MotorVehicles 2020-12-31 10671313 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10671313 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10671313 d:CurrentFinancialInstruments 2021-12-31 10671313 d:CurrentFinancialInstruments 2020-12-31 10671313 d:Non-currentFinancialInstruments 2021-12-31 10671313 d:Non-currentFinancialInstruments 2020-12-31 10671313 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10671313 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 10671313 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10671313 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 10671313 d:ShareCapital 2021-12-31 10671313 d:ShareCapital 2020-12-31 10671313 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 10671313 d:RetainedEarningsAccumulatedLosses 2021-12-31 10671313 d:RetainedEarningsAccumulatedLosses 2020-12-31 10671313 c:FRS102 2021-01-01 2021-12-31 10671313 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 10671313 c:FullAccounts 2021-01-01 2021-12-31 10671313 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10671313 d:WithinOneYear 2021-12-31 10671313 d:WithinOneYear 2020-12-31 10671313 d:BetweenOneFiveYears 2021-12-31 10671313 d:BetweenOneFiveYears 2020-12-31 10671313 d:MoreThanFiveYears 2021-12-31 10671313 d:MoreThanFiveYears 2020-12-31 10671313 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 10671313 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 iso4217:GBP xbrli:pure

Registered number: 10671313









NORTH LONDON PIZZA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2021

 
NORTH LONDON PIZZA LIMITED
REGISTERED NUMBER: 10671313

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2021
2020
2020
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
873,768
970,639

  
873,768
970,639

Current assets
  

Stocks
 5 
26,212
29,307

Debtors: amounts falling due within one year
 6 
978,717
875,264

Cash at bank and in hand
 7 
580,142
554,787

  
1,585,071
1,459,358

Creditors: amounts falling due within one year
 8 
(1,087,942)
(940,370)

Net current assets
  
 
 
497,129
 
 
518,988

Total assets less current liabilities
  
1,370,897
1,489,627

Creditors: amounts falling due after more than one year
 9 
(572,294)
(953,380)

Provisions for liabilities
  

Deferred tax
 10 
(160,778)
(133,939)

  
 
 
(160,778)
 
 
(133,939)

Net assets
  
637,825
402,308

Page 1

 
NORTH LONDON PIZZA LIMITED
REGISTERED NUMBER: 10671313
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

2021
2021
2020
2020
Note
£
£
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
 11 
637,725
402,208

  
637,825
402,308


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 period 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 10 August 2022.




R Purushothaman
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

1.


General information

North London Pizza Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 10671313. The address of the registered office is 598 Holloway Road, London, N19 3PH. The nature of the company's operations and principal activities are that of a Domino's Pizza franchise.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pounds sterling which is the functional currency of the
company and rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
8%
Reducing balance
Plant and machinery
-
15%
Reducing balance
Motor vehicles
-
25%
Reducing balance

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 profit or loss.

 
2.9

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks, Costs include all direct costs.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

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.
Page 5

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.13

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 and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the period was 117 (2020 - 117).

Page 6

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 January 2021
582,922
725,478
52,186
1,360,586


Additions
-
8,700
12,642
21,342


Disposals
-
-
(1,308)
(1,308)



At 31 December 2021

582,922
734,178
63,520
1,380,620



Depreciation


At 1 January 2021
113,578
254,065
22,304
389,947


Charge for the period on owned assets
37,636
71,014
9,001
117,651


Disposals
-
-
(746)
(746)



At 31 December 2021

151,214
325,079
30,559
506,852



Net book value



At 31 December 2021
431,708
409,099
32,961
873,768



At 31 December 2020
469,344
471,413
29,882
970,639


5.


Stocks

2021
2020
£
£

Raw materials and consumables
26,212
29,307

26,212
29,307


Page 7

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

6.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
625,601
661,553

Other debtors
287,901
151,433

Prepayments and accrued income
65,215
62,278

978,717
875,264



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
580,142
554,787

580,142
554,787



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
348,589
348,589

Other loans
14,100
14,100

Trade creditors
58,929
49,787

Amounts owed to group undertakings
212,529
224,520

Corporation tax
77,960
81,643

Other taxation and social security
105,575
22,649

Other creditors
593
4,666

Accruals and deferred income
269,667
194,416

1,087,942
940,370




Page 8

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
506,113
873,110

Other loans
66,181
80,270

572,294
953,380


The following liabilities were secured:

2021
2020
£
£



Bank loans
854,702
1,221,698

Other loans
80,270
94,370

934,972
1,316,068

Details of security provided:

The bank loan from AIB Group (UK) Plc, is secured by a legal charge over the company's assets. The bank loans are secured by a fixed and floating charge over the assets of the company and a fixed charge over the leasehold property. 
The bank loans carry interest at a rate of base rate plus 2.4% per annum.
The other loans carry no interest.

Page 9

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

10.


Deferred taxation




2021


£






At beginning of year
(133,939)


Charged to profit or loss
(26,839)



At end of year
(160,778)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(160,778)
(133,939)

(160,778)
(133,939)


11.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.


12.


Contingent liabilities

The company has a fixed and floating charge over all assets of the company in favour of AIB Group (UK) PLC, and is joined in cross guarantee in respect of group banking facilities with its fellow subsidiary companies. 


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £18,353 (2020 - £18,032). Contributions totalling £Nil (2020 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
NORTH LONDON PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

14.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
167,100
167,100

Later than 1 year and not later than 5 years
668,400
668,400

Later than 5 years
1,404,545
1,571,645

2,240,045
2,407,145


15.


Related party transactions

During the year transactions with the following related parties occurred:
At the year-end the following amounts were due from/(to) the related parties:


2021
2020
£
£

Entities with control, joint control or significant influence over the entity
489,166
489,166


16.


Controlling party

The ultimate parent company is Pizza London Limited. Pizza London Limited is a company incorporated in England and Wales. The ultimate controlling party is A H Zarinabad due to his majority shareholding in the ultimate parent company. 

 
Page 11