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REGISTERED NUMBER: 08869037 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

PARISELLA'S ICE CREAM PARLOUR LTD

PARISELLA'S ICE CREAM PARLOUR LTD (REGISTERED NUMBER: 08869037)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARISELLA'S ICE CREAM PARLOUR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Ms C I M Parisella
Mr A Parisella





REGISTERED OFFICE: 13 Trinity Square
Llandudno
North Wales
LL30 2RB





REGISTERED NUMBER: 08869037 (England and Wales)





ACCOUNTANTS: Williams Denton Cyf
Chartered Certified Accountants
Glaslyn
Ffordd y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

PARISELLA'S ICE CREAM PARLOUR LTD (REGISTERED NUMBER: 08869037)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,824 45,539

CURRENT ASSETS
Stocks 500 6,300
Debtors 5 95,435 23,179
Cash at bank and in hand 11,927 145,162
107,862 174,641
CREDITORS
Amounts falling due within one year 6 36,211 81,166
NET CURRENT ASSETS 71,651 93,475
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,475

139,014

CREDITORS
Amounts falling due after more than one
year

7

(25,011

)

-

PROVISIONS FOR LIABILITIES (8,137 ) (6,432 )
NET ASSETS 81,327 132,582

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 81,027 132,282
SHAREHOLDERS' FUNDS 81,327 132,582

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

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

PARISELLA'S ICE CREAM PARLOUR LTD (REGISTERED NUMBER: 08869037)

BALANCE SHEET - continued
31 JANUARY 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 24 October 2023 and were signed on its behalf by:





Ms C I M Parisella - Director


PARISELLA'S ICE CREAM PARLOUR LTD (REGISTERED NUMBER: 08869037)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Parisella's Ice Cream Parlour Ltd 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. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings- 15% reducing balance

Property Improvements- evenly over the property 10 year lease period

Government grants
Welsh Government Grant - £5,000

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 year comprises current 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 tax is recognised at the amount of tax payable using the tax rates and laws that 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.

PARISELLA'S ICE CREAM PARLOUR LTD (REGISTERED NUMBER: 08869037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on a going concern basis. The directors are satisfied that the company has the necessary funding to meet day to day working capital requirements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 143,540
Additions 8,458
At 31 January 2023 151,998
DEPRECIATION
At 1 February 2022 98,001
Charge for year 11,173
At 31 January 2023 109,174
NET BOOK VALUE
At 31 January 2023 42,824
At 31 January 2022 45,539

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 95,435 23,179

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,298 -
Trade creditors 8,093 6,365
Taxation and social security 14,004 26,525
Other creditors 4,816 48,276
36,211 81,166

PARISELLA'S ICE CREAM PARLOUR LTD (REGISTERED NUMBER: 08869037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 25,011 -

8. RELATED PARTY DISCLOSURES

Related party transactions and balances-

Sandwhich Express Limited

The company issued an interest free loan to Sandwhich Express Limited in 2019, a company under common control, of £2,826.

Balance owed from Sandwhich Express Limited as at 31 January 2023 was £2,826 (2022 £2,826).

Maximum balance owing during the year was £2,826.