Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01true37falsemaking and delivering pizzas.37The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05353089 2022-04-01 2023-03-31 05353089 2021-04-01 2022-03-31 05353089 2023-03-31 05353089 2022-03-31 05353089 2021-04-01 05353089 1 2022-04-01 2023-03-31 05353089 1 2021-04-01 2022-03-31 05353089 5 2022-04-01 2023-03-31 05353089 5 2021-04-01 2022-03-31 05353089 d:Director1 2022-04-01 2023-03-31 05353089 e:Buildings e:ShortLeaseholdAssets 2022-04-01 2023-03-31 05353089 e:Buildings e:ShortLeaseholdAssets 2023-03-31 05353089 e:Buildings e:ShortLeaseholdAssets 2022-03-31 05353089 e:PlantMachinery 2022-04-01 2023-03-31 05353089 e:PlantMachinery 2023-03-31 05353089 e:PlantMachinery 2022-03-31 05353089 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05353089 e:MotorVehicles 2022-04-01 2023-03-31 05353089 e:MotorVehicles 2023-03-31 05353089 e:MotorVehicles 2022-03-31 05353089 e:MotorVehicles e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05353089 e:FurnitureFittings 2022-04-01 2023-03-31 05353089 e:FurnitureFittings 2023-03-31 05353089 e:FurnitureFittings 2022-03-31 05353089 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05353089 e:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05353089 e:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 05353089 e:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 05353089 e:Goodwill 2023-03-31 05353089 e:Goodwill 2022-03-31 05353089 e:CurrentFinancialInstruments 2023-03-31 05353089 e:CurrentFinancialInstruments 2022-03-31 05353089 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 05353089 e:CurrentFinancialInstruments e:WithinOneYear 2022-03-31 05353089 e:ShareCapital 2022-04-01 2023-03-31 05353089 e:ShareCapital 2023-03-31 05353089 e:ShareCapital 2021-04-01 2022-03-31 05353089 e:ShareCapital 2022-03-31 05353089 e:ShareCapital 2021-04-01 05353089 e:SharePremium 2022-04-01 2023-03-31 05353089 e:SharePremium 2023-03-31 05353089 e:SharePremium 2021-04-01 2022-03-31 05353089 e:SharePremium 2022-03-31 05353089 e:SharePremium 2021-04-01 05353089 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 05353089 e:RetainedEarningsAccumulatedLosses 2023-03-31 05353089 e:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 05353089 e:RetainedEarningsAccumulatedLosses 2022-03-31 05353089 e:RetainedEarningsAccumulatedLosses 2021-04-01 05353089 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 05353089 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 05353089 d:OrdinaryShareClass1 2022-04-01 2023-03-31 05353089 d:OrdinaryShareClass1 2023-03-31 05353089 d:OrdinaryShareClass1 2022-03-31 05353089 d:FRS102 2022-04-01 2023-03-31 05353089 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05353089 d:FullAccounts 2022-04-01 2023-03-31 05353089 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05353089 e:WithinOneYear 2023-03-31 05353089 e:WithinOneYear 2022-03-31 05353089 e:BetweenOneFiveYears 2023-03-31 05353089 e:BetweenOneFiveYears 2022-03-31 05353089 2 2022-04-01 2023-03-31 05353089 e:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05353089 e:AcceleratedTaxDepreciationDeferredTax 2022-03-31 05353089 f:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05353089









YATE PIZZA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
YATE PIZZA LIMITED
REGISTERED NUMBER: 05353089

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
38,875
41,650

  
38,875
41,650

Current assets
  

Stocks
 6 
7,909
7,532

Debtors: amounts falling due within one year
 7 
1,950,396
1,792,388

Cash at bank and in hand
 8 
20,139
6,044

  
1,978,444
1,805,964

Creditors: amounts falling due within one year
 9 
(1,957,794)
(1,787,233)

Net current assets
  
 
 
20,650
 
 
18,731

Total assets less current liabilities
  
59,525
60,381

Provisions for liabilities
  

Deferred tax
 11 
(9,450)
(9,450)

  
 
 
(9,450)
 
 
(9,450)

Net assets
  
50,075
50,931


Capital and reserves
  

Called up share capital 
 12 
100
100

Share premium account
  
49,975
49,975

Profit and loss account
  
-
856

  
50,075
50,931


Page 1

 
YATE PIZZA LIMITED
REGISTERED NUMBER: 05353089
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 January 2024.





................................................
James Swift
Director

The notes on pages 6 to 15 form part of these financial statements.

Page 2

 
YATE PIZZA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
100
49,975
856
50,931


Comprehensive income for the year

Profit for the year
-
-
135,567
135,567
Total comprehensive income for the year
-
-
135,567
135,567


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(136,423)
(136,423)


Total transactions with owners
-
-
(136,423)
(136,423)


At 31 March 2023
100
49,975
-
50,075


The notes on pages 6 to 15 form part of these financial statements.

Page 3

 
YATE PIZZA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 April 2021
100
49,975
-
50,075


Comprehensive income for the year

Profit for the year
-
-
181,877
181,877
Total comprehensive income for the year
-
-
181,877
181,877


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(181,021)
(181,021)


Total transactions with owners
-
-
(181,021)
(181,021)


At 31 March 2022
100
49,975
856
50,931


The notes on pages 6 to 15 form part of these financial statements.

Page 4

 
YATE PIZZA LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
135,567
181,877

Adjustments for:

Depreciation of tangible assets
7,709
7,563

Loss on disposal of tangible assets
-
602

Interest paid
1,013
1,060

Interest received
-
(4)

Taxation charge
-
52,931

(Increase) in stocks
(377)
(1,379)

(Increase) in debtors
(5,769)
(4,512)

(Increase) in amounts owed by groups
(151,694)
(166,021)

Increase/(decrease) in creditors
55,544
(21,285)

Increase in amounts owed to groups
136,218
179,573

Corporation tax (paid)
(21,746)
(105,687)

Net cash generated from operating activities

156,465
124,718


Cash flows from investing activities

Purchase of tangible fixed assets
(4,934)
(12,326)

Interest received
-
4

Net cash from investing activities

(4,934)
(12,322)

Cash flows from financing activities

Dividends paid
(136,423)
(181,021)

Interest paid
(1,013)
(1,060)

Net cash used in financing activities
(137,436)
(182,081)

Net increase/(decrease) in cash and cash equivalents
14,095
(69,685)

Cash and cash equivalents at beginning of year
6,044
75,729

Cash and cash equivalents at the end of year
20,139
6,044


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
20,139
6,044

20,139
6,044


The notes on pages 6 to 15 form part of these financial statements.

Page 5

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Yate Pizza Limited is a private company limited by share capital, incorporated and registered in England and Wales. The Company's registered office and number are detailed on the company information page. The principal activity of the Company throughout the year was that of making and delivering pizzas. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling (£) and rounded to the nearest £. 

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 6

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 7

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Property improvements
-
5 years straight line
Office equipment
-
15% reducing balance
Motor vehicles
-
20% reducing balance
Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 8

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 37 (2022 - 37).

Page 9

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Franchise fee
Legal & acquisition fees
Total

£
£
£



Cost


At 1 April 2022
7,500
11,623
19,123



At 31 March 2023

7,500
11,623
19,123



Amortisation


At 1 April 2022
7,500
11,623
19,123



At 31 March 2023

7,500
11,623
19,123



Net book value



At 31 March 2023
-
-
-



At 31 March 2022
-
-
-



Page 10

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Property improve-  ments
Fixtures and fittings
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
81,896
168,056
915
32,593
283,460


Additions
-
2,485
2,449
-
4,934



At 31 March 2023

81,896
170,541
3,364
32,593
288,394



Depreciation


At 1 April 2022
78,665
140,150
107
22,888
241,810


Charge for the year on owned assets
1,384
4,465
405
1,455
7,709



At 31 March 2023

80,049
144,615
512
24,343
249,519



Net book value



At 31 March 2023
1,847
25,926
2,852
8,250
38,875



At 31 March 2022
3,231
27,906
808
9,705
41,650

Page 11

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
7,909
7,532

7,909
7,532



7.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,908,609
1,756,915

Other debtors
28,499
20,218

Prepayments and accrued income
13,288
15,255

1,950,396
1,792,388



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
20,139
6,044

20,139
6,044



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
39,971
23,405

Amounts owed to group undertakings
1,827,157
1,690,939

Corporation tax
-
21,201

Other taxation and social security
64,334
33,328

Other creditors
-
785

Accruals and deferred income
26,332
17,575

1,957,794
1,787,233


Page 12

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
20,139
6,044




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Deferred taxation




2023


£






At beginning of year
(9,450)



At end of year
(9,450)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(9,450)
(9,450)

(9,450)
(9,450)


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,266 (2022 - £3,502). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 13

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

14.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
9,896
23,750

Later than 1 year and not later than 5 years
-
9,896

9,896
33,646


15.


Related party transactions

During the year the Company made transfers totalling £151,695 (2022 - £156,021) with Team West Limited, the ultimate parent company. At the year end a balance of £1,691,149 was owed by (2022 - £1,539,454) Team West Limited.
During the year the Company made transfers totalling £136,423 (2022 - £181,021) with DJS Pizza Limited, the parent company. At the year end a balance of £1,793,972 was owed to (2022 - £1,657,549)  DJS Pizza Limited.
During the year the Company made transfers totalling £Nil (2022 - £Nil) with Bath Pizza Limited, a subsidiary of Team West Limited. At the year end a balance of £33,041 was owed to (2022 - £33,041) Bath Pizza Limited.
During the year the Company made transfers totalling £205 (2022 - £410) with Text Management Limited, a company in which the director, James Swift, is also a director. At the year end the company owed £Nil to (2022 - £205)  Text Management Limited.
During the year the Company made transfers totalling £Nil (2022 - £Nil) with Beast Pizza Limited, a company in which the directors, James Swift and Knut Wilberg, are also directors. At the year end a balance of £6,000 was owed by (2022 - £6,000) Beast Pizza Limited.
During the year the Company made transfers totalling £Nil (2022- £Nil) with Thatcham Pizza Limited, a company in which the director, James Swift, is also a director. At the year end a balance of £1,460 was owed by (2022 - £1,460) Thatcham Pizza Limited.
During the year the Company made transfers totalling £Nil (2022 - £Nil) with TW Pizza Limited, a company in which the directors, James Swift and Knut Wilberg, are also directors and shareholders. At the year end a balance of £144 was owed to (2022 - £144) TW Pizza Limited.
During the year the Company made transfers totalling £Nil (2022 - £1,038) with KKWJS Limited, a company in which the directors, James Swift and Knut Wilberg, are shareholders and James Swift is also a director. At the year end a balance of £Nil was owed to (2022 - £Nil) KKWJS Limited.
During the year the Company made transfers totalling £Nil (2022- £10,000) with Thatcham Swift Limited, a company in which the director, Mr James Swift, is also a director and shareholder. At the year end a balance of £210,000 was owed by (2022 - £210,000) Thatcham Swift Limited.

Page 14

 
YATE PIZZA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

16.


Controlling party

The Company is a wholly owned subsidiary of DJS Pizza Limited, a company incorporated in the United Kingdom. The ultimate parent company is Team West Limited, also incorporated in the United Kingdom.  There is no ultimate controlling party of Team West Limited. The registered offices for Team West Limited and DJS Pizza Limited are both at St Mary's House, Netherhampton, Salisbury, Wiltshire, SP2 8PU and group accounts can be obtained from there.

 
Page 15