Registered number
10147821
Trinity Pizza Limited
Filleted Accounts
31 March 2023
Trinity Pizza Limited
Registered number: 10147821
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 6,300 8,400
Tangible assets 4 11,836 13,925
18,136 22,325
Current assets
Stocks 5,015 4,785
Cash at bank and in hand 12,059 28,845
17,074 33,630
Creditors: amounts falling due within one year 5 (12,875) (16,659)
Net current assets 4,199 16,971
Total assets less current liabilities 22,335 39,296
Creditors: amounts falling due after more than one year 6 (38,672) (51,517)
Net liabilities (16,337) (12,221)
Capital and reserves
Called up share capital 100 100
Profit and loss account (16,437) (12,321)
Shareholders' funds (16,337) (12,221)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ayesha Arif
Director
Approved by the board on 11 October 2023
Trinity Pizza Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
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:
Fixtures and Equipment 15% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
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.
Provisions
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 21,000
At 31 March 2023 21,000
Amortisation
At 1 April 2022 12,600
Provided during the year 2,100
At 31 March 2023 14,700
Net book value
At 31 March 2023 6,300
At 31 March 2022 8,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixtures and Equipment
£
Cost
At 1 April 2022 87,385
At 31 March 2023 87,385
Depreciation
At 1 April 2022 73,460
Charge for the year 2,089
At 31 March 2023 75,549
Net book value
At 31 March 2023 11,836
At 31 March 2022 13,925
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,558 4,513
Trade creditors 981 4,307
Taxation and social security costs 6,057 6,040
Other creditors 2,279 1,799
12,875 16,659
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 12,667 16,667
Director's Loan Account 26,005 34,850
38,672 51,517
The company enjoys the full support of the Director who has no intention of making any susbtantial withdrawals from the loan to the company and, as such, the company can continue as a going concern.
7 Other information
Trinity Pizza Limited is a private company limited by shares and incorporated in England. Its registered office is:
87 Trinity Street
Huddersfield
HD1 4DN
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