2022-03-012023-02-282023-02-28false08403357ELITE PIZZA & RESTAURANT 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ELITE PIZZA & RESTAURANT LIMITED

Registered Number
08403357
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

ELITE PIZZA & RESTAURANT LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

SASSANELLI, Alexandra
SASSANELLI, Vincenzo

Company Secretary

SASSANELLI, Alexandra

Registered Address

50 Long Lane
London
EC1A 9EJ

Registered Number

08403357 (England and Wales)
ELITE PIZZA & RESTAURANT LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets580,71894,678
Investments6148,35148,008
229,069142,686
Current assets
Stocks812,0807,560
Debtors9394,254369,021
Cash at bank and on hand572,306318,333
978,640694,914
Creditors amounts falling due within one year10(495,541)(169,207)
Net current assets (liabilities)483,099525,707
Total assets less current liabilities712,168668,393
Creditors amounts falling due after one year11(52,343)(56,933)
Net assets659,825611,460
Capital and reserves
Called up share capital100100
Profit and loss account659,725611,360
Shareholders' funds659,825611,460
The financial statements were approved and authorised for issue by the Board of Directors on 21 November 2023, and are signed on its behalf by:
SASSANELLI, Alexandra
Director
SASSANELLI, Vincenzo
Director

Registered Company No. 08403357
ELITE PIZZA & RESTAURANT LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Land & buildings Over the term of the lease Plant & machinery 25% reducing balance Fixtures & fittings 25% reducing balance Office Equipment 20% reducing balance

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment20
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year3019
5.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 March 22109,084102,79334,39416,463262,734
Additions---1,1071,107
At 28 February 23109,084102,79334,39417,570263,841
Depreciation and impairment
At 01 March 2251,00587,98118,79310,277168,056
Charge for year6,0603,7033,9001,40415,067
At 28 February 2357,06591,68422,69311,681183,123
Net book value
At 28 February 2352,01911,10911,7015,88980,718
At 28 February 2258,07914,81215,6016,18694,678
6.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 March 2248,00848,008
Additions100,343100,343
At 28 February 23148,351148,351
Net book value
At 28 February 23148,351148,351
At 28 February 2248,00848,008

Notes

1Other investments other than loans
7.Dividends proposed and payable

2023

2022

££
Dividends Paid131,50075,000
Total131,50075,000
8.Stocks

2023

2022

££
Finished goods12,0807,560
Total12,0807,560
9.Debtors

2023

2022

££
Trade debtors / trade receivables9,9064,146
Other debtors10,1534,566
Prepayments and accrued income13,49810,476
Amounts owed by associates and joint ventures / participating interests (Non-current)15,4796,054
Other debtors (Non-current)345,218343,779
Total394,254369,021
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables250,59947,371
Taxation and social security172,961115,417
Other creditors40,7322,675
Accrued liabilities and deferred income31,2493,744
Total495,541169,207
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.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts39,97750,000
Amounts owed to related parties12,3666,933
Total52,34356,933