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REGISTERED NUMBER: 03819105 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

TASTE OF SICILY LIMITED

TASTE OF SICILY LIMITED (REGISTERED NUMBER: 03819105)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TASTE OF SICILY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr C Diforti
Mr A Diforti





SECRETARY: Mr C Diforti





REGISTERED OFFICE: 39 The Metro Centre
Dwight Road
Watford
Hertfordshire
WD18 9SB





REGISTERED NUMBER: 03819105 (England and Wales)





ACCOUNTANTS: Meades Group Limited
39 The Metro Centre
Tolpits Lane
Watford
Hertfordshire
WD18 9SB

TASTE OF SICILY LIMITED (REGISTERED NUMBER: 03819105)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,376 15,864
Tangible assets 5 221,206 255,752
239,582 271,616

CURRENT ASSETS
Stocks 344,000 298,000
Debtors 6 861,586 1,195,302
Investments 7 300,000 156,450
Cash at bank 3,303,747 2,796,115
4,809,333 4,445,867
CREDITORS
Amounts falling due within one
year

8

1,095,223

1,242,042
NET CURRENT ASSETS 3,714,110 3,203,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,953,692

3,475,441

PROVISIONS FOR LIABILITIES 54,585 32,008
NET ASSETS 3,899,107 3,443,433

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve - 103,239
Retained earnings 3,899,007 3,340,094
SHAREHOLDERS' FUNDS 3,899,107 3,443,433

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

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

TASTE OF SICILY LIMITED (REGISTERED NUMBER: 03819105)

BALANCE SHEET - continued
31ST DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th August 2024 and were signed on its behalf by:




Mr C Diforti - Director



Mr A Diforti - Director


TASTE OF SICILY LIMITED (REGISTERED NUMBER: 03819105)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Taste Of Sicily 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.

Turnover
Turnover represents amounts receivable from the wholesale provision of food net of Value Added Tax.

Other intangible assets - trademarks
Trademarks are not being amortised since each is considered to have an indefinite life, meaning a perception exists that a trademark can retain its value forever. However the business reassesses the value of its trademarks annually.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 10 years
Fixtures and fittings - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 25% on reducing balance

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

Hire purchase and leasing commitments
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 16 (2022 - 16 ) .

TASTE OF SICILY LIMITED (REGISTERED NUMBER: 03819105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023 15,864
Additions 2,512
At 31st December 2023 18,376
NET BOOK VALUE
At 31st December 2023 18,376
At 31st December 2022 15,864

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Plant and
leasehold fittings machinery
£    £    £   
COST
At 1st January 2023 8,764 323,581 76,686
Additions - 5,744 365
Disposals - - (73,580 )
At 31st December 2023 8,764 329,325 3,471
DEPRECIATION
At 1st January 2023 3,531 153,238 69,124
Charge for year 876 26,036 1,982
Eliminated on disposal - - (69,138 )
At 31st December 2023 4,407 179,274 1,968
NET BOOK VALUE
At 31st December 2023 4,357 150,051 1,503
At 31st December 2022 5,233 170,343 7,562

TASTE OF SICILY LIMITED (REGISTERED NUMBER: 03819105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2023 15,427 160,913 33,162 618,533
Additions - - 14,012 20,121
Disposals (12,439 ) (11,941 ) (16,961 ) (114,921 )
At 31st December 2023 2,988 148,972 30,213 523,733
DEPRECIATION
At 1st January 2023 12,616 102,264 22,008 362,781
Charge for year 703 15,724 3,631 48,952
Eliminated on disposal (12,229 ) (11,941 ) (15,898 ) (109,206 )
At 31st December 2023 1,090 106,047 9,741 302,527
NET BOOK VALUE
At 31st December 2023 1,898 42,925 20,472 221,206
At 31st December 2022 2,811 58,649 11,154 255,752

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade debtors 562,837 719,340
Other debtors 214,326 379,815
VAT 24,426 44,327
Prepayments 59,997 51,820
861,586 1,195,302

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 300,000 156,450

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 805,494 1,091,033
Corporation tax 286,070 95,109
Social security and other taxes - 11,581
Employee pension payable 3,659 4,576
Directors' current accounts - 1,279
Accruals and deferred income - 38,464
1,095,223 1,242,042

TASTE OF SICILY LIMITED (REGISTERED NUMBER: 03819105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

9. OTHER FINANCIAL COMMITMENTS

The company had total commitments under operating leases not provided for in the financial statements totalling £301,397 (2022 - £396,575).

10. RELATED PARTY DISCLOSURES

The directors’ current account balances of £nil (2022 - £1,279) have no fixed date for repayment, are repayable upon demand and are non-interest bearing.