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REGISTERED NUMBER: 08696801 (England and Wales)















JOE DELUCCI'S LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






JOE DELUCCI'S LIMITED (REGISTERED NUMBER: 08696801)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


JOE DELUCCI'S LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTOR: R J Pierce





REGISTERED OFFICE: Lumaneri House
Blythe Gate
Blythe Valley Park
Solihull
West Midlands
B90 8AH





REGISTERED NUMBER: 08696801 (England and Wales)






JOE DELUCCI'S LIMITED (REGISTERED NUMBER: 08696801)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,320 -
Tangible assets 5 145,670 -
179,990 -

CURRENT ASSETS
Stocks 163,305 -
Debtors 6 223,673 1
Cash at bank and in hand 17,323 -
404,301 1
CREDITORS
Amounts falling due within one year 7 713,721 -
NET CURRENT (LIABILITIES)/ASSETS (309,420 ) 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

(129,430

)

1

CREDITORS
Amounts falling due after more than one
year

8

53,413

-
NET (LIABILITIES)/ASSETS (182,843 ) 1

CAPITAL AND RESERVES
Called up share capital 85 1
Share premium 44,985 -
Retained earnings (227,913 ) -
(182,843 ) 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JOE DELUCCI'S LIMITED (REGISTERED NUMBER: 08696801)

BALANCE SHEET - continued
28TH FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th March 2024 and were signed by:





R J Pierce - Director


JOE DELUCCI'S LIMITED (REGISTERED NUMBER: 08696801)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Joe Delucci's Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Despite the losses incurred during the year, the director is confident that sufficient appropriate financing is in place to ensure the company will remain a going concern beyond the next twelve months after the approval date of these accounts. The business has also undertaken a strategic review during the post balance sheet period to significantly reduce storage and delivery costs, which the director is confident will improve gross margins and enable the company to start achieving a bottom line profit.

Significant judgements and estimates
In application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below;

Estimation of depreciation

In selecting appropriate depreciation policies management must exercise a certain level of estimation when determining the expected useful life of assets purchased. Assets are continually reviewed for impairment and are written off immediately when no longer in use.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

JOE DELUCCI'S LIMITED (REGISTERED NUMBER: 08696801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are measured at amortised cost (transaction price) less any impairment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives.

Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 1 ) .

JOE DELUCCI'S LIMITED (REGISTERED NUMBER: 08696801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 42,900
At 28th February 2023 42,900
AMORTISATION
Charge for year 8,580
At 28th February 2023 8,580
NET BOOK VALUE
At 28th February 2023 34,320

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 183,125
At 28th February 2023 183,125
DEPRECIATION
Charge for year 37,455
At 28th February 2023 37,455
NET BOOK VALUE
At 28th February 2023 145,670

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 154,806 -
Other debtors 68,867 1
223,673 1

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 772 -
Trade creditors 163,223 -
Taxation and social security 202,102 -
Other creditors 347,624 -
713,721 -

JOE DELUCCI'S LIMITED (REGISTERED NUMBER: 08696801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 53,413 -

9. ULTIMATE CONTROLLING PARTY

The controlling party is Miss Alexandra Beer by virtue of her majority shareholding.