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COMPANY REGISTRATION NUMBER: 09248829
Barnaby Pizza Limited
Filleted Unaudited Abridged Financial Statements
For the year ended
31 October 2023
R E Jones & Co.
Barnaby Pizza Limited
Abridged Financial Statements
Year ended 31 October 2023
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Notes to the abridged financial statements
4 to 8
R E Jones & Co.
Barnaby Pizza Limited
Officers and Professional Advisers
The board of directors
Mr L Borriello
Mr J Stevenson
Mr J Tibbs
Registered office
132 Burnt Ash Road Lee
London
United Kingdom
SE12 8PU
Accountants
R. E. Jones & Co.
Chartered accountants
132 Burnt Ash Road
Lee
London
SE12 8PU
Bankers
Barclays
Leicestershire
United Kingdom
LE87 2BB
R E Jones & Co.
Barnaby Pizza Limited
Abridged Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
109,977
132,332
Current assets
Stocks
3,851
4,774
Debtors
6
117,482
155,091
Cash at bank and in hand
78,499
87,152
----------
----------
199,832
247,017
Creditors: amounts falling due within one year
203,560
231,066
----------
----------
Net current (liabilities)/assets
( 3,728)
15,951
----------
----------
Total assets less current liabilities
106,249
148,283
Creditors: amounts falling due after more than one year
24,802
----------
----------
Net assets
106,249
123,481
----------
----------
R E Jones & Co.
Barnaby Pizza Limited
Abridged Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
396
396
Profit and loss account
105,853
123,085
----------
----------
Shareholders funds
106,249
123,481
----------
----------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 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:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Mr J Stevenson
Director
Company registration number: 09248829
R E Jones & Co.
Barnaby Pizza Limited
Notes to the Abridged Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 132 Burnt Ash Road Lee, London, SE12 8PU, United Kingdom.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long Leasehold Property
-
20% straight line
Integrated features
-
20% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 17 ).
5. Tangible assets
£
Cost
At 1 November 2022
258,947
Additions
19,132
Disposals
( 28,500)
----------
At 31 October 2023
249,579
----------
Depreciation
At 1 November 2022
126,615
Charge for the year
25,456
Disposals
( 12,469)
----------
At 31 October 2023
139,602
----------
Carrying amount
At 31 October 2023
109,977
----------
At 31 October 2022
132,332
----------
6. Debtors
Debtors include amounts of £81,266 (2022: £106,068) falling due after more than one year.
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr J Stevenson
131,068
131,068
Mr J Tibbs
( 25,000)
( 24,802)
( 49,802)
----------
---------
----------
106,068
( 24,802)
81,266
----------
---------
----------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr J Stevenson
127,205
3,863
131,068
Mr J Tibbs
( 25,000)
( 25,000)
----------
-------
----------
102,205
3,863
106,068
----------
-------
----------
8. Related party transactions
The company has no overall controlling party. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.