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Registered Number: 10410037
England and Wales

 

 

 

NONNO'S PIZZERIA LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Directors Mr Gian-Paolo Foddis
Mrs Romina Calderone
Mr Santo Calderone
Registered Number 10410037
Registered Office First Floor, Hagley Court
40 Vicarage Road
Birmingham
B15 3EZ
Accountants Marneros Marcus & Co Ltd
Chartered Certified Accountants
First Floor, Hagley Court
40 Vicarage Road, Edgbaston
Birmingham
B15 3EZ
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 October 2023.
Principal activities
Principal activity of the company during the financial year was of a Take- away food shops and mobile foods stands.
Directors
The directors who served the company throughout the year were as follows:
Mr Gian-Paolo Foddis
Mrs Romina Calderone
Mr Santo Calderone
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr Gian-Paolo Foddis
Director

Date approved: 31 July 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 22,112    19,115 
22,112    19,115 
Current assets      
Stocks 4 1,570    1,730 
Debtors 5 1,920    1,715 
Cash at bank and in hand 58,953    95,810 
62,443    99,255 
Creditors: amount falling due within one year 6 (73,461)   (92,476)
Net current assets (11,018)   6,779 
 
Total assets less current liabilities 11,094    25,894 
Net assets 11,094    25,894 
 

Capital and reserves
     
Called up share capital 99    99 
Profit and loss account 10,995    25,795 
Shareholders' funds 11,094    25,894 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 July 2024 and were signed on its behalf by:


-------------------------------
Mr Santo Calderone
Director
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General Information
NONNO'S PIZZERIA LTD is a private company, limited by shares, registered in England and Wales, registration number 10410037, registration address First Floor, Hagley Court, 40 Vicarage Road, Birmingham, B15 3EZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20% Reducing Balance
Plant and Machinery 10% Reducing Balance
Fixtures and Fittings 10% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 8).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 November 2022 4,082    7,853      16,373    28,308 
Additions     5,000      5,000 
Disposals        
At 31 October 2023 4,082    7,853    5,000    16,373    33,308 
Depreciation
At 01 November 2022   3,029      6,164    9,193 
Charge for year   482    500    1,021    2,003 
On disposals        
At 31 October 2023   3,511    500    7,185    11,196 
Net book values
Closing balance as at 31 October 2023 4,082    4,342    4,500    9,188    22,112 
Opening balance as at 01 November 2022 4,082    4,824      10,209    19,115 


4.

Stocks

2023
£
  2022
£
Finished Goods 1,570    1,730 
1,570    1,730 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 1,360    1,715 
Other Debtors 560   
1,920    1,715 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 21,350    9,755 
Bank Loans & Overdrafts 19,029    24,668 
Corporation Tax 1,470    9,735 
PAYE & Social Security 5,476    12,106 
Accrued Expenses 1,673    5,039 
Other Creditors 2,096    912 
Directors' Current Accounts 2,344    305 
VAT 20,023    29,956 
73,461    92,476 

4