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COMPANY REGISTRATION NUMBER: 01467923
D'Auria Brothers Ice Cream and Catering Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2023
D'Auria Brothers Ice Cream and Catering Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
302,262
303,626
Current assets
Stocks
95,000
100,000
Debtors
6
289,836
317,572
Cash at bank and in hand
17,067
16,111
---------
---------
401,903
433,683
Creditors: amounts falling due within one year
7
281,227
297,058
---------
---------
Net current assets
120,676
136,625
---------
---------
Total assets less current liabilities
422,938
440,251
Creditors: amounts falling due after more than one year
8
345,956
370,441
---------
---------
Net assets
76,982
69,810
---------
---------
Capital and reserves
Called up share capital
88
88
Capital redemption reserve
12
12
Profit and loss account
76,882
69,710
--------
--------
Shareholders funds
76,982
69,810
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
D'Auria Brothers Ice Cream and Catering Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
A D'Auria
Director
Company registration number: 01467923
D'Auria Brothers Ice Cream and Catering Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Flat Re-development
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 45 (2022: 44 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Flat Re-development
Total
£
£
£
£
£
£
Cost
At 1 May 2022
240,350
31,902
33,255
214,562
51,056
571,125
Additions
17,499
4,572
33,389
221
55,681
---------
--------
--------
---------
--------
---------
At 30 Apr 2023
240,350
49,401
37,827
247,951
51,277
626,806
---------
--------
--------
---------
--------
---------
Depreciation
At 1 May 2022
83,112
15,078
19,634
120,366
29,309
267,499
Charge for the year
2,000
10,165
2,729
31,896
10,255
57,045
---------
--------
--------
---------
--------
---------
At 30 Apr 2023
85,112
25,243
22,363
152,262
39,564
324,544
---------
--------
--------
---------
--------
---------
Carrying amount
At 30 Apr 2023
155,238
24,158
15,464
95,689
11,713
302,262
---------
--------
--------
---------
--------
---------
At 30 Apr 2022
157,238
16,824
13,621
94,196
21,747
303,626
---------
--------
--------
---------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
151,261
163,603
Other debtors
138,575
153,969
---------
---------
289,836
317,572
---------
---------
Included in other debtors is a loan amounting to £137,929 (2022: £147,136) which is secured on a freehold property. The loan is repayable over 25 years, by monthly instalments. Interest is currently charged at 3.0%. £129,735 (2022: £139,144) is receivable in more than one year.
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
51,734
50,040
Trade creditors
160,612
105,076
Corporation tax
14,155
Social security and other taxes
32,860
46,418
Other creditors
36,021
81,369
---------
---------
281,227
297,058
---------
---------
The bank loan and overdraft are secured by a fixed and floating charge over the assets of the company. The bank loan is repayable over 20 years.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
345,956
370,441
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
A D'Auria
( 53,134)
33,035
( 20,099)
A D'Auria
( 4,746)
( 4,746)
--------
--------
--------
( 53,134)
28,289
( 24,845)
--------
--------
--------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
A D'Auria
( 37,185)
( 15,949)
( 53,134)
A D'Auria
( 7,237)
7,237
--------
--------
--------
( 44,422)
( 8,712)
( 53,134)
--------
--------
--------