REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
GUAGGENTI LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
GUAGGENTI LTD |
GUAGGENTI LTD (REGISTERED NUMBER: 03794132) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
GUAGGENTI LTD (REGISTERED NUMBER: 03794132) |
BALANCE SHEET |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
GUAGGENTI LTD (REGISTERED NUMBER: 03794132) |
BALANCE SHEET - continued |
31 AUGUST 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GUAGGENTI LTD (REGISTERED NUMBER: 03794132) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | Statutory information |
Guaggenti Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03794132. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH, and business address is Topogigio, Mill Court, Mill Lane, Wimborne, Dorset, BH21 1LN. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents income generated from restaurant sales, net of VAT where applicable. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Government grants |
Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable. |
Stocks |
Stock and Work In Progress are valued at the lower of cost and net realisable value. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
GUAGGENTI LTD (REGISTERED NUMBER: 03794132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
2. | Accounting policies - continued |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 September 2022 |
and 31 August 2023 |
Amortisation |
At 1 September 2022 |
and 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
5. | Tangible fixed assets |
Fixtures |
Short | Plant and | and |
leasehold | machinery | fittings | Totals |
£ | £ | £ | £ |
Cost |
At 1 September 2022 |
Additions |
At 31 August 2023 |
Depreciation |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
GUAGGENTI LTD (REGISTERED NUMBER: 03794132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Directors' current accounts | 154,687 | 160,898 |
Prepayments |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other loans |
Trade creditors |
Tax |
Social security and other taxes |
Pensions creditor | 243 | 182 |
Wages creditor | 1,458 | 1,139 |
VAT | 24,946 | 23,351 |
Other creditors |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Other loans - 1-2 years | 10,226 | 10,014 |
Other loans - 2-5 years | 9,685 | 19,874 |
9. | Provisions for liabilities |
2023 | 2022 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 September 2022 |
Credit to Income statement during year | ( |
) |
Balance at 31 August 2023 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
GUAGGENTI LTD (REGISTERED NUMBER: 03794132) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
11. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
At the balance sheet date, the directors, Mr and Mrs Guaggenti, owed the company £154,687 (2022: £160.898) this is included within debtors. |
The balance at the start of the year was the maximum amount outstanding at any point throughout the year. |
The amount outstanding at the year end was repaid in full within nine months of the balance sheet date. |
12. | Ultimate controlling party |
The company is under the control of its directors, Mr & Mrs Guaggenti, who between them own 100% of the issued share capital. |