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REGISTERED NUMBER: 01883655 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

CORBICO LIMITED

CORBICO LIMITED (REGISTERED NUMBER: 01883655)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CORBICO LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: D Patel





SECRETARY: B D Patel





REGISTERED OFFICE: Orchard Cottage
47 Dartford road
Bexley
Kent
DA5 2AR





REGISTERED NUMBER: 01883655 (England and Wales)





ACCOUNTANTS: Butler & Co LLP
Chartered Accountants
Third Floor
126-134 Baker Street
London
W1U 6UE

CORBICO LIMITED (REGISTERED NUMBER: 01883655)

Statement of Financial Position
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 358 477

CURRENT ASSETS
Debtors 5 175,000 190,000
Cash at bank 1,090 1,276
176,090 191,276
CREDITORS
Amounts falling due within one year 6 132,982 150,535
NET CURRENT ASSETS 43,108 40,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,466

41,218

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 43,366 41,118
SHAREHOLDERS' FUNDS 43,466 41,218

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

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

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

The financial statements were authorised for issue by the director and authorised for issue on 31 August 2023 and were signed by:





D Patel - Director


CORBICO LIMITED (REGISTERED NUMBER: 01883655)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Corbico 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.

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.

Going concern
The financial statements have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future.The Directors, having made appropriate enquiries, consider that adequate resources exist for the company to continue in operational existence for the foreseeable future; and with the continued support of the company's shareholders, the company will be able to meet its liabilities as they fall due for payment. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements for the year ended 31 March 2023.

Key sources of estimation uncertainty and judgements
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reported period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the lease term
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Financial instruments policy
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price.Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


CORBICO LIMITED (REGISTERED NUMBER: 01883655)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 248,884 28,758 90,876 368,518
DEPRECIATION
At 1 April 2022 248,884 28,575 90,582 368,041
Charge for year - 46 73 119
At 31 March 2023 248,884 28,621 90,655 368,160
NET BOOK VALUE
At 31 March 2023 - 137 221 358
At 31 March 2022 - 183 294 477

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry Debtors 175,000 175,000
Prepayments - 15,000
175,000 190,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 52,459 51,409
Tax 556 5,658
Other Creditors 78,917 92,418
Accrued expenses 1,050 1,050
132,982 150,535

CORBICO LIMITED (REGISTERED NUMBER: 01883655)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. CONTROLLING PARTY

The ultimate controlling party is Pizza Etcetra Limited, a company registered in England and Wales.