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REGISTERED NUMBER: SC399239 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 May 2023

for

GIANVIRA FOODS LIMITED

GIANVIRA FOODS LIMITED (REGISTERED NUMBER: SC399239)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GIANVIRA FOODS LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: G Marini
Mrs M Marini





REGISTERED OFFICE: S D Business Management
Suite 411, Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ





REGISTERED NUMBER: SC399239 (Scotland)





ACCOUNTANTS: SD Business Management
Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ

GIANVIRA FOODS LIMITED (REGISTERED NUMBER: SC399239)

Abridged Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 78,347 83,133
78,347 83,133

CURRENT ASSETS
Stocks 7,298 6,273
Debtors 85,307 44,109
Cash at bank 27,014 73,796
119,619 124,178
CREDITORS
Amounts falling due within one year 275,007 223,465
NET CURRENT LIABILITIES (155,388 ) (99,287 )
TOTAL ASSETS LESS CURRENT LIABILITIES (77,041 ) (16,154 )

CREDITORS
Amounts falling due after more than one
year

6

(35,360

)

(41,442

)

PROVISIONS FOR LIABILITIES (3,414 ) (15,795 )
NET LIABILITIES (115,815 ) (73,391 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (115,915 ) (73,491 )
SHAREHOLDERS' FUNDS (115,815 ) (73,391 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

GIANVIRA FOODS LIMITED (REGISTERED NUMBER: SC399239)

Abridged Balance Sheet - continued
31 May 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by:





Mrs M Marini - Director


GIANVIRA FOODS LIMITED (REGISTERED NUMBER: SC399239)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Gianvira Foods Limited is a private company, limited by shares , registered in Scotland. 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.

In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

The company meets its day to day working capital requirements through a bank overdraft facility. The directors believe that the company's bankers will continue to support the company as they have done in the past.

No cash flow projections have been prepared for a period of at least 12 months from the date of approval of these accounts.

The financial statements do not include any adjustments that might result from a withdrawal of facilities by the company's bankers or directors.

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

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.

Cost of lease are being amortised evenly over their estimated useful life of five years.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the annual rate of 15% reducing balance for fixtures & fittings, 25% reducing balance for motor vehicles and 25% straight line for property improvements in order to write off each asset over its estimated useful life.

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

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.


GIANVIRA FOODS LIMITED (REGISTERED NUMBER: SC399239)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recongnised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in the which economic benefits from the leases asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 23,790
AMORTISATION
At 1 June 2022
and 31 May 2023 23,790
NET BOOK VALUE

At 31 May 2023 -
At 31 May 2022 -

GIANVIRA FOODS LIMITED (REGISTERED NUMBER: SC399239)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 192,743
Additions 5,169
At 31 May 2023 197,912
DEPRECIATION
At 1 June 2022 109,610
Charge for year 9,955
At 31 May 2023 119,565
NET BOOK VALUE
At 31 May 2023 78,347
At 31 May 2022 83,133

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.5.23 31.5.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 11,360 17,442

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
G Marini
Balance outstanding at start of year 1,937 -
Amounts advanced 11,641 1,937
Amounts repaid (6,557 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,021 1,937

Mrs M Marini
Balance outstanding at start of year 543 -
Amounts advanced 3,705 543
Amounts repaid (543 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,705 543