Company Registration No. 01661605 (England and Wales)
Pittas Foods Limited
Unaudited accounts
for the year ended 31 December 2023
Pittas Foods Limited
Unaudited accounts
Contents
Pittas Foods Limited
Company Information
for the year ended 31 December 2023
Directors
M K Pittas
P A Pittas
A K Pittas
A L Pittas
Company Number
01661605 (England and Wales)
Registered Office
125 Brooker Road
Waltham Abbey
Essex
EN9 1JU
Pittas Foods Limited
Statement of financial position
as at 31 December 2023
Intangible assets
-
11,148
Tangible assets
947,723
944,892
Investments
413,934
413,934
Inventories
258,565
281,517
Cash at bank and in hand
993,359
544,945
Creditors: amounts falling due within one year
(229,555)
(227,102)
Net current assets
1,445,482
958,837
Total assets less current liabilities
2,807,139
2,328,811
Provisions for liabilities
Deferred tax
(181,448)
(148,632)
Net assets
2,625,691
2,180,179
Called up share capital
58,500
58,500
Capital redemption reserve
25,000
25,000
Profit and loss account
2,542,191
2,096,679
Shareholders' funds
2,625,691
2,180,179
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by
M K Pittas
Director
Company Registration No. 01661605
Pittas Foods Limited
Notes to the Accounts
for the year ended 31 December 2023
Pittas Foods Limited is a private company, limited by shares, registered in England and Wales, registration number 01661605. The registered office is 125 Brooker Road, Waltham Abbey, Essex, EN9 1JU, .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land & buildings
2.0833% straight line basis
Plant & machinery
25% reducing balance on non-revalued plant & machinery
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Pittas Foods Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2023
55,740
Charge for the year
11,148
At 31 December 2023
55,740
At 31 December 2022
11,148
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
290,513
1,937,271
21,997
2,249,781
Additions
-
73,109
-
73,109
Disposals
-
-
(21,997)
(21,997)
At 31 December 2023
290,513
2,010,380
-
2,300,893
At 1 January 2023
24,209
1,260,422
20,258
1,304,889
Charge for the year
6,050
62,489
-
68,539
On disposals
-
-
(20,258)
(20,258)
At 31 December 2023
30,259
1,322,911
-
1,353,170
At 31 December 2023
260,254
687,469
-
947,723
At 31 December 2022
266,304
676,849
1,739
944,892
6
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 January 2023
413,894
40
413,934
Valuation at 31 December 2023
413,894
40
413,934
Amounts falling due within one year
Trade debtors
365,818
314,966
Other debtors
57,295
44,511
Pittas Foods Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Creditors: amounts falling due within one year
2023
2022
Trade creditors
127,357
119,617
Taxes and social security
24,301
23,001
Other creditors
77,897
84,484
9
Deferred taxation
2023
2022
Accelerated capital allowances
181,448
148,632
Provision at start of year
148,632
55,758
Charged to the profit and loss account
32,816
92,874
Provision at end of year
181,448
148,632
Allotted, called up and fully paid:
58,500 Ordinary shares of £1 each
58,500
58,500
11
Average number of employees
During the year the average number of employees was 21 (2022: 21).