Registered number
08662093
PIZZAROVA LIMITED
Filleted Accounts
31 August 2023
PIZZAROVA LIMITED
Registered number: 08662093
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 10,000 15,000
Tangible assets 4 484,564 463,474
494,564 478,474
Current assets
Stocks 17,561 22,444
Debtors 5 62,591 85,885
Cash at bank and in hand 175,868 32,726
256,020 141,055
Creditors: amounts falling due within one year 6 (818,776) (803,248)
Net current liabilities (562,756) (662,193)
Total assets less current liabilities (68,192) (183,719)
Creditors: amounts falling due after more than one year 7 (139,732) (190,132)
Provisions for liabilities (13,781) (2,436)
Net liabilities (221,705) (376,287)
Capital and reserves
Called up share capital 1 1
Profit and loss account (221,706) (376,288)
Shareholders' funds (221,705) (376,287)
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.
Mr J Lander
Director
Approved by the board on 17 January 2024
PIZZAROVA LIMITED
Notes to the Accounts
for the year ended 31 August 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:
Leasehold land and buildings 25 years straight line
Plant & equipment 2-5 years straight line
Motor vehicles 3-5 years straight line
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 62 46
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 50,000
At 31 August 2023 50,000
Amortisation
At 1 September 2022 35,000
Provided during the year 5,000
At 31 August 2023 40,000
Net book value
At 31 August 2023 10,000
At 31 August 2022 15,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 486,242 284,868 32,162 803,272
Additions 12,867 48,070 - 60,937
Disposals - (2,700) - (2,700)
At 31 August 2023 499,109 330,238 32,162 861,509
Depreciation
At 1 September 2022 82,767 224,869 32,162 339,798
Charge for the year 19,782 17,365 - 37,147
At 31 August 2023 102,549 242,234 32,162 376,945
Net book value
At 31 August 2023 396,560 88,004 - 484,564
At 31 August 2022 403,475 59,999 - 463,474
5 Debtors 2023 2022
£ £
Trade debtors 2,000 8,253
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,891 2,891
Other debtors 57,700 74,741
62,591 85,885
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 27,600 27,600
Obligations under finance lease and hire purchase contracts - 17,159
Trade creditors 89,211 105,057
Directors loan account 554,806 581,643
Taxation and social security costs 15,571 10,728
Other creditors 131,588 61,061
818,776 803,248
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 139,732 190,132
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years - 15,200
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 86,244 86,244
10 Related party transactions
As at the balance sheet date, the company owed it's directors' £554,806 (2021: £581.643), the loan is interest free and repayable on demand.
11 Other information
PIZZAROVA LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
C/O Streets Steele Limited
Stanway House
Bristol
BS32 4QH
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