Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Mr V Piscopo Mrs A Piscopo Mrs A M Piscopo 16 April 2024 The principal activity of the Company during the financial year was that of running a restaurant. 04134447 2023-07-31 04134447 2022-07-31 04134447 core:CurrentFinancialInstruments 2023-07-31 04134447 core:CurrentFinancialInstruments 2022-07-31 04134447 core:Non-currentFinancialInstruments 2023-07-31 04134447 core:Non-currentFinancialInstruments 2022-07-31 04134447 core:ShareCapital 2023-07-31 04134447 core:ShareCapital 2022-07-31 04134447 core:RetainedEarningsAccumulatedLosses 2023-07-31 04134447 core:RetainedEarningsAccumulatedLosses 2022-07-31 04134447 core:LandBuildings 2022-07-31 04134447 core:OtherPropertyPlantEquipment 2022-07-31 04134447 core:LandBuildings 2023-07-31 04134447 core:OtherPropertyPlantEquipment 2023-07-31 04134447 core:ImmediateParent core:CurrentFinancialInstruments 2023-07-31 04134447 core:ImmediateParent core:CurrentFinancialInstruments 2022-07-31 04134447 2022-08-01 2023-07-31 04134447 bus:FilletedAccounts 2022-08-01 2023-07-31 04134447 bus:SmallEntities 2022-08-01 2023-07-31 04134447 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 04134447 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04134447 bus:Director1 2022-08-01 2023-07-31 04134447 bus:Director2 2022-08-01 2023-07-31 04134447 bus:Director3 2022-08-01 2023-07-31 04134447 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 04134447 2021-08-01 2022-07-31 04134447 core:LandBuildings 2022-08-01 2023-07-31 04134447 core:Non-currentFinancialInstruments 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 04134447 (England and Wales)

ENZO RISTORANTE LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

ENZO RISTORANTE LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

ENZO RISTORANTE LIMITED

BALANCE SHEET

As at 31 July 2023
ENZO RISTORANTE LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 806,536 824,472
806,536 824,472
Current assets
Stocks 4 17,500 15,000
Debtors 5 5,225 4,547
Cash at bank and in hand 261,636 216,298
284,361 235,845
Creditors: amounts falling due within one year 6 ( 929,795) ( 818,053)
Net current liabilities (645,434) (582,208)
Total assets less current liabilities 161,102 242,264
Creditors: amounts falling due after more than one year 7 ( 138,891) ( 153,738)
Provision for liabilities ( 16,658) ( 14,689)
Net assets 5,553 73,837
Capital and reserves
Called-up share capital 7 7
Profit and loss account 5,546 73,830
Total shareholders' funds 5,553 73,837

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Enzo Ristorante Limited (registered number: 04134447) were approved and authorised for issue by the Board of Directors on 16 April 2024. They were signed on its behalf by:

Mr V Piscopo
Director
ENZO RISTORANTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
ENZO RISTORANTE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Enzo Ristorante Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 8

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 August 2022 745,646 279,425 1,025,071
Additions 0 2,177 2,177
At 31 July 2023 745,646 281,602 1,027,248
Accumulated depreciation
At 01 August 2022 0 200,599 200,599
Charge for the financial year 0 20,113 20,113
At 31 July 2023 0 220,712 220,712
Net book value
At 31 July 2023 745,646 60,890 806,536
At 31 July 2022 745,646 78,826 824,472

4. Stocks

2023 2022
£ £
Stocks 17,500 15,000

5. Debtors

2023 2022
£ £
Other debtors 5,225 4,547

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 22,000 22,000
Trade creditors 21,018 19,828
Amounts owed to Parent undertakings 717,497 576,884
Taxation and social security 88,935 118,645
Other creditors 80,345 80,696
929,795 818,053

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 138,891 153,738

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's directors

During the year the director maintained an interest free loan account with the company, which is repayable on
demand. At the balance sheet date the amount due to the director was £77,084 (2022 - £74,763).