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REGISTERED NUMBER: 09261590 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 October 2023

for

North Pizzas Ltd

North Pizzas Ltd (Registered number: 09261590)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


North Pizzas Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr M Rendall
Mrs K K Rendall
Mr J Rendall





REGISTERED OFFICE: 5 The Brockwell Centre
Cramlington
Northumberland
NE23 1XZ





REGISTERED NUMBER: 09261590 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

North Pizzas Ltd (Registered number: 09261590)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 136,135 147,485
Tangible assets 6 5,863 7,531
141,998 155,016

CURRENT ASSETS
Stocks 9,122 10,927
Debtors 7 217,306 137,174
Cash at bank and in hand 165,054 241,172
391,482 389,273
CREDITORS
Amounts falling due within one year 8 (277,521 ) (282,900 )
NET CURRENT ASSETS 113,961 106,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,959

261,389

CREDITORS
Amounts falling due after more than one
year

9

-

(19,557

)

PROVISIONS FOR LIABILITIES (1,114 ) (1,431 )
NET ASSETS 254,845 240,401

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 254,745 240,301
SHAREHOLDERS' FUNDS 254,845 240,401

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr M Rendall - Director


North Pizzas Ltd (Registered number: 09261590)

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

1. STATUTORY INFORMATION

North Pizzas Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from the sale of takeaway pizzas, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Intangible assets
Intangible fixed assets are stated at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangible assets less their residual values over their useful economic life, using the straight line method.

The intangible assets are amortised over the following useful economic lives:

Goodwill - 20 years Straight Line

In the opinion of the directors this represents the period over which the goodwill is effective.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 33% on reducing balance and 20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.


North Pizzas Ltd (Registered number: 09261590)

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

3. ACCOUNTING POLICIES - continued
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Leasing
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2022 - 50 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 227,000
AMORTISATION
At 1 November 2022 79,515
Charge for year 11,350
At 31 October 2023 90,865
NET BOOK VALUE
At 31 October 2023 136,135
At 31 October 2022 147,485

North Pizzas Ltd (Registered number: 09261590)

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

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 15,000 92,172 107,172
Additions - 1,148 1,148
At 31 October 2023 15,000 93,320 108,320
DEPRECIATION
At 1 November 2022 15,000 84,641 99,641
Charge for year - 2,816 2,816
At 31 October 2023 15,000 87,457 102,457
NET BOOK VALUE
At 31 October 2023 - 5,863 5,863
At 31 October 2022 - 7,531 7,531

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 217,306 137,174

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,184 8,000
Trade creditors 51,029 47,864
Taxation and social security 43,099 87,945
Other creditors 179,209 139,091
277,521 282,900

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 19,557

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 23,875 31,750
Between one and five years 64,000 111,250
In more than five years 5,333 21,333
93,208 164,333

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 4,184 27,557
Other creditors 25,746 -
29,930 27,557

The bank loans are secured against a fixed and floating charge over all assets. Other creditors are secured by a fixed and floating charge over all property and undertakings of the company.