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REGISTERED NUMBER: SC558078 (Scotland)







Unaudited Financial Statements

For The Year Ended 31st March 2023

for

Paesano Pizza Limited

Paesano Pizza Limited (Registered number: SC558078)






Contents of the Financial Statements
For The Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Paesano Pizza Limited

Company Information
For The Year Ended 31st March 2023







DIRECTORS: P Stevenson
Mrs A Stevenson





SECRETARY:





REGISTERED OFFICE: 8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP





REGISTERED NUMBER: SC558078 (Scotland)





ACCOUNTANTS: J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP

Paesano Pizza Limited (Registered number: SC558078)

Balance Sheet
31st March 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 1,160,155 1,153,714

CURRENT ASSETS
Debtors 5 748,775 1,401,139
Cash at bank - 20,911
748,775 1,422,050
CREDITORS
Amounts falling due within one year 6 (626,265 ) (888,846 )
NET CURRENT ASSETS 122,510 533,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,282,665

1,686,918

CREDITORS
Amounts falling due after more than one
year

7

(544,481

)

(606,277

)

PROVISIONS FOR LIABILITIES (24,007 ) (26,674 )
NET ASSETS 714,177 1,053,967

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 714,167 1,053,957
SHAREHOLDERS' FUNDS 714,177 1,053,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

Paesano Pizza Limited (Registered number: SC558078)

Balance Sheet - continued
31st March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th July 2023 and were signed on its behalf by:





P Stevenson - Director


Paesano Pizza Limited (Registered number: SC558078)

Notes to the Financial Statements
For The Year Ended 31st March 2023

1. STATUTORY INFORMATION

Paesano Pizza Limited is a private company, limited by shares , registered in Scotland. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Paesano Pizza Limited (Registered number: SC558078)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1st April 2022 1,013,323 179,300 1,192,623
Additions 20,480 - 20,480
At 31st March 2023 1,033,803 179,300 1,213,103
DEPRECIATION
At 1st April 2022 - 38,909 38,909
Charge for year - 14,039 14,039
At 31st March 2023 - 52,948 52,948
NET BOOK VALUE
At 31st March 2023 1,033,803 126,352 1,160,155
At 31st March 2022 1,013,323 140,391 1,153,714

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 712,275 1,399,902
Other debtors 36,500 1,237
748,775 1,401,139

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 583,004 330,512
Trade creditors - 6,223
Taxation and social security 39,563 48,413
Other creditors 3,698 503,698
626,265 888,846

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 544,481 606,277

Paesano Pizza Limited (Registered number: SC558078)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 1,126,853 -

HSBC UK Bank Plc hold a standard security over the property at 94-104 Miller Street, Glasgow, G1 1DT and a floating charge over the assets Paesano Pizza Limited.

Paesano Pizza Limited

Report of the Accountants to the Directors of
Paesano Pizza Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP


4th July 2023