22 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12430843 2022-02-01 2023-01-31 12430843 2023-01-31 12430843 2022-01-31 12430843 2021-02-01 2022-01-31 12430843 2022-01-31 12430843 2021-01-31 12430843 core:PlantMachinery 2022-02-01 2023-01-31 12430843 core:FurnitureFittings 2022-02-01 2023-01-31 12430843 bus:Director1 2022-02-01 2023-01-31 12430843 core:PlantMachinery 2022-01-31 12430843 core:FurnitureFittings 2022-01-31 12430843 core:PlantMachinery 2023-01-31 12430843 core:FurnitureFittings 2023-01-31 12430843 core:AfterOneYear 2023-01-31 12430843 core:AfterOneYear 2022-01-31 12430843 core:WithinOneYear 2023-01-31 12430843 core:WithinOneYear 2022-01-31 12430843 core:ShareCapital 2023-01-31 12430843 core:ShareCapital 2022-01-31 12430843 core:RetainedEarningsAccumulatedLosses 2023-01-31 12430843 core:RetainedEarningsAccumulatedLosses 2022-01-31 12430843 core:PlantMachinery 2022-01-31 12430843 core:FurnitureFittings 2022-01-31 12430843 bus:SmallEntities 2022-02-01 2023-01-31 12430843 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 12430843 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 12430843 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12430843 bus:FullAccounts 2022-02-01 2023-01-31 12430843 core:ComputerEquipment 2022-02-01 2023-01-31 12430843 core:ComputerEquipment 2022-01-31 12430843 core:ComputerEquipment 2023-01-31
COMPANY REGISTRATION NUMBER: 12430843
DA VITO LEEDS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2023
DA VITO LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
20,156
19,722
CURRENT ASSETS
Stocks
3,875
3,175
Debtors
6
12,210
5,031
Cash at bank and in hand
75,131
84,566
--------
--------
91,216
92,772
CREDITORS: amounts falling due within one year
7
( 64,383)
( 45,862)
--------
--------
NET CURRENT ASSETS
26,833
46,910
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
46,989
66,632
CREDITORS: amounts falling due after more than one year
Bank loans and overdrafts
( 35,179)
( 40,735)
PROVISIONS
( 3,830)
( 3,747)
--------
--------
NET ASSETS
7,980
22,150
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
7,880
22,050
-------
--------
SHAREHOLDERS FUNDS
7,980
22,150
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DA VITO LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:
V La Gioia
Director
Company registration number: 12430843
DA VITO LEEDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, United Kingdom, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
GOING CONCERN
The financial statements have also been prepared on the going concern basis.The director considers the going concern basis to be appropriate as he has confirmed his ongoing support.
DISCLOSURE EXEMPTIONS
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
REVENUE RECOGNITION
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, inclusive of Value Added Tax.
INCOME TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
STOCKS
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
FINANCIAL INSTRUMENTS
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 22 (2022: 18 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 February 2022
1,600
17,055
15,215
33,870
Additions
1,055
3,675
2,183
6,913
-------
--------
--------
--------
At 31 January 2023
2,655
20,730
17,398
40,783
-------
--------
--------
--------
Depreciation
At 1 February 2022
533
7,076
6,539
14,148
Charge for the year
351
3,413
2,715
6,479
-------
--------
--------
--------
At 31 January 2023
884
10,489
9,254
20,627
-------
--------
--------
--------
Carrying amount
At 31 January 2023
1,771
10,241
8,144
20,156
-------
--------
--------
--------
At 31 January 2022
1,067
9,979
8,676
19,722
-------
--------
--------
--------
6. DEBTORS
2023
2022
£
£
Other debtors
12,210
5,031
--------
-------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
18,417
10,222
Corporation tax
1,033
2,627
Social security and other taxes
18,224
5,997
Other creditors
9,220
Other creditors
21,153
12,240
--------
--------
64,383
45,862
--------
--------