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REGISTERED NUMBER: 07006958 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

30 SEPTEMBER 2020 TO 28 SEPTEMBER 2021

FOR

PAOLO'S SEAFOOD LIMITED

PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 SEPTEMBER 2020 TO 28 SEPTEMBER 2021










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


PAOLO'S SEAFOOD LIMITED

COMPANY INFORMATION
FOR THE PERIOD 30 SEPTEMBER 2020 TO 28 SEPTEMBER 2021







DIRECTOR: Mr P Lavarini





SECRETARY: Mr P Lavarini





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 07006958 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

ABRIDGED STATEMENT OF FINANCIAL POSITION
28 SEPTEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 9,686 9,514
9,686 9,514

CURRENT ASSETS
Stocks 2,900 2,894
Debtors 180,348 163,578
Cash at bank and in hand 10,713 6,885
193,961 173,357
CREDITORS
Amounts falling due within one year 127,470 145,313
NET CURRENT ASSETS 66,491 28,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,177

37,558

CREDITORS
Amounts falling due after more than one year (40,632 ) (189 )

PROVISIONS FOR LIABILITIES 7 (1,840 ) (1,808 )
NET ASSETS 33,705 35,561

PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
28 SEPTEMBER 2021

2021 2020
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 33,704 35,560
SHAREHOLDERS' FUNDS 33,705 35,561

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 September 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the period ended 28 September 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 26 August 2022 and were signed by:





Mr P Lavarini - Director


PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 30 SEPTEMBER 2020 TO 28 SEPTEMBER 2021


1. STATUTORY INFORMATION

Paolo's Seafood 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10 years
Office equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 SEPTEMBER 2020 TO 28 SEPTEMBER 2021


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2020 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 30 September 2020
and 28 September 2021 37,500
AMORTISATION
At 30 September 2020
and 28 September 2021 37,500
NET BOOK VALUE

At 28 September 2021 -
At 29 September 2020 -

PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 SEPTEMBER 2020 TO 28 SEPTEMBER 2021


6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 30 September 2020 42,321
Additions 3,400
At 28 September 2021 45,721
DEPRECIATION
At 30 September 2020 32,807
Charge for period 3,228
At 28 September 2021 36,035
NET BOOK VALUE
At 28 September 2021 9,686
At 29 September 2020 9,514

7. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 1,840 1,808

Deferred
tax
£   
Balance at 30 September 2020 1,808
Provided during period 32
Balance at 28 September 2021 1,840

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1 Ordinary £1 1 1

PAOLO'S SEAFOOD LIMITED (REGISTERED NUMBER: 07006958)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 30 SEPTEMBER 2020 TO 28 SEPTEMBER 2021


9. RELATED PARTY DISCLOSURES

Express Fish Limited
Express Fish Limited is an associated company incorporated in England and Wales in which Mr P Lavarini is the sole director and shareholder.

At the reporting date, Express Fish Limited owed £119,758 (2020 - 119,793) to the company. This is an unsecured interest -free loan which is payable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Lavarini.

The company is controlled by the director Mr P Lavarini as a result of owning 100% of the issued share capital of the company.