Registered number
07769440
PIZZA 2 GO (SE1) LIMITED
Unaudited Filleted Accounts
30 November 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
PIZZA 2 GO (SE1) LIMITED
Registered number: 07769440
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 8,444 11,111
Tangible assets 4 19,296 23,337
27,740 34,448
Current assets
Stocks 4,675 4,675
Debtors 5 548 1,565
Cash at bank and in hand 10,686 15,757
15,909 21,997
Creditors: amounts falling due within one year 6 (31,379) (35,113)
Net current liabilities (15,470) (13,116)
Total assets less current liabilities 12,270 21,332
Creditors: amounts falling due after more than one year 7 (22,500) (32,500)
Provisions for liabilities (240) (178)
Net liabilities (10,470) (11,346)
Capital and reserves
Called up share capital 1 1
Profit and loss account (10,471) (11,347)
Shareholder's funds (10,470) (11,346)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Sakhizadeh
Director
Approved by the board on 5 June 2024
PIZZA 2 GO (SE1) LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Improvements to Leasehold property 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 or 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 40,000
At 30 November 2023 40,000
Amortisation
At 1 December 2022 28,889
Provided during the year 2,667
At 30 November 2023 31,556
Net book value
At 30 November 2023 8,444
At 30 November 2022 11,111
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Improve-ments to leasehold Property Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 6,000 29,777 35,777
At 30 November 2023 6,000 29,777 35,777
Depreciation
At 1 December 2022 1,600 10,840 12,440
Charge for the year 1,200 2,841 4,041
At 30 November 2023 2,800 13,681 16,481
Net book value
At 30 November 2023 3,200 16,096 19,296
At 30 November 2022 4,400 18,937 23,337
5 Debtors 2023 2022
£ £
Trade debtors 279 1,565
Other debtors 269 -
548 1,565
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan ( see note 7 below) 10,000 10,000
Trade creditors 2,708 2,281
Taxation and social security costs 6,611 8,955
Other creditors 12,060 13,877
31,379 35,113
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 22,500 32,500
The bank loan is unsecured and is repayable over a period of 60 months. Interest rate on the loan is 2.5% per annum.
8 Controlling party
The company was under the control of Mr M Sakhizadeh, a director and shareholder through out the year.
9 Other information
PIZZA 2 GO (SE1) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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