Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 09158407 Mr Luis Sanchez-Iglesias Mrs Susan Sanchez-Iglesias Mr Peter Sanchez-Iglesias iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09158407 2022-11-30 09158407 2023-11-30 09158407 2022-12-01 2023-11-30 09158407 frs-core:CurrentFinancialInstruments 2023-11-30 09158407 frs-core:Non-currentFinancialInstruments 2023-11-30 09158407 frs-core:BetweenOneFiveYears 2023-11-30 09158407 frs-core:FurnitureFittings 2023-11-30 09158407 frs-core:FurnitureFittings 2022-12-01 2023-11-30 09158407 frs-core:FurnitureFittings 2022-11-30 09158407 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 09158407 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 09158407 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-30 09158407 frs-core:PlantMachinery 2023-11-30 09158407 frs-core:PlantMachinery 2022-12-01 2023-11-30 09158407 frs-core:PlantMachinery 2022-11-30 09158407 frs-core:WithinOneYear 2023-11-30 09158407 frs-core:ShareCapital 2023-11-30 09158407 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 09158407 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09158407 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 09158407 frs-bus:SmallEntities 2022-12-01 2023-11-30 09158407 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 09158407 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 09158407 frs-bus:Director1 2022-12-01 2023-11-30 09158407 frs-bus:Director2 2022-12-01 2023-11-30 09158407 frs-bus:Director3 2022-12-01 2023-11-30 09158407 frs-core:CurrentFinancialInstruments 1 2023-11-30 09158407 frs-countries:EnglandWales 2022-12-01 2023-11-30 09158407 2021-11-30 09158407 2022-11-30 09158407 2021-12-01 2022-11-30 09158407 frs-core:CurrentFinancialInstruments 2022-11-30 09158407 frs-core:Non-currentFinancialInstruments 2022-11-30 09158407 frs-core:BetweenOneFiveYears 2022-11-30 09158407 frs-core:WithinOneYear 2022-11-30 09158407 frs-core:ShareCapital 2022-11-30 09158407 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 09158407 frs-core:CurrentFinancialInstruments 1 2022-11-30
Paco Tapas Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09158407
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 161,801 184,397
161,801 184,397
CURRENT ASSETS
Stocks 5 17,522 19,669
Debtors 6 376,544 242,476
Cash at bank and in hand 7,675 15,141
401,741 277,286
Creditors: Amounts Falling Due Within One Year 7 (294,123 ) (268,114 )
NET CURRENT ASSETS (LIABILITIES) 107,618 9,172
TOTAL ASSETS LESS CURRENT LIABILITIES 269,419 193,569
Creditors: Amounts Falling Due After More Than One Year 8 (15,658 ) (25,782 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (40,451 ) (35,035 )
NET ASSETS 213,310 132,752
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 213,210 132,652
SHAREHOLDERS' FUNDS 213,310 132,752
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Susan Sanchez-Iglesias
Director
9 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Paco Tapas Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09158407 . The registered office is 3a Lower Guinea Street, Bristol, BS1 6FU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Improvement to property 20% on reducing balance
Kitchen, Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2022: 26)
30 26
4. Tangible Assets
Land & Property
Improvement to property Kitchen, Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2022 5,052 82,351 135,650 223,053
Additions - 5,256 215 5,471
As at 30 November 2023 5,052 87,607 135,865 228,524
Depreciation
As at 1 December 2022 2,087 11,340 25,229 38,656
Provided during the period 593 11,080 16,394 28,067
As at 30 November 2023 2,680 22,420 41,623 66,723
Net Book Value
As at 30 November 2023 2,372 65,187 94,242 161,801
As at 1 December 2022 2,965 71,011 110,421 184,397
5. Stocks
2023 2022
£ £
Stock 17,522 19,669
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,124 -
Prepayments and accrued income 12,329 27,234
Amounts owed by group undertakings- Casamia Ltd 241,676 128,144
Amounts owed by group undertakings- Sanchez Brothers Ltd 120,415 87,098
376,544 242,476
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 71,971 122,567
Bank loans and overdrafts 10,128 18,988
Other creditors 49,145 76,339
Taxation and social security 162,879 50,220
294,123 268,114
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,658 25,782
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 19,637 18,601
Later than one year and not later than five years 17,837 37,474
37,474 56,075
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