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Registration number: 07013945

M V M Pizza Suppliers Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2023

 

M V M Pizza Suppliers Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

M V M Pizza Suppliers Ltd

Company Information

Director

Mojtaba Mohammadi

Registered office

277-279 Chiswick High Road
Chiswick
London
W4 4PU

Accountants

Key Page Ltd
Chartered Certified Accountants
17 Birkdale Road
London
W5 1JZ

 

M V M Pizza Suppliers Ltd

(Registration number: 07013945)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,063,808

1,086,516

Current assets

 

Stocks

5

100,189

171,365

Debtors

25,269

38,435

Cash at bank and in hand

 

175,576

63,920

 

301,034

273,720

Creditors: Amounts falling due within one year

(193,683)

(142,466)

Net current assets

 

107,351

131,254

Total assets less current liabilities

 

1,171,159

1,217,770

Creditors: Amounts falling due after more than one year

(357,464)

(475,621)

Provisions for liabilities

(19,308)

(18,637)

Accruals and deferred income

 

(26,356)

(1,500)

Net assets

 

768,031

722,012

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

767,031

721,012

Shareholders' funds

 

768,031

722,012

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 September 2024
 

 

M V M Pizza Suppliers Ltd

(Registration number: 07013945)
Abridged Balance Sheet as at 30 September 2023

.........................................
Mojtaba Mohammadi
Director

 

M V M Pizza Suppliers Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
277-279 Chiswick High Road
Chiswick
London
W4 4PU

These financial statements were authorised for issue by the director on 4 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

M V M Pizza Suppliers Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Computer equipment

20% reducing balance

Fixtures & fittings

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

M V M Pizza Suppliers Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2022 - 7).

 

M V M Pizza Suppliers Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 October 2022

1,004,378

16,227

235,514

6,233

At 30 September 2023

1,004,378

16,227

235,514

6,233

Depreciation

At 1 October 2022

14,400

13,881

141,673

5,882

Charge for the year

3,400

470

18,768

70

At 30 September 2023

17,800

14,351

160,441

5,952

Carrying amount

At 30 September 2023

986,578

1,876

75,073

281

At 30 September 2022

989,978

2,346

93,841

351

Total
£

Cost or valuation

At 1 October 2022

1,262,352

At 30 September 2023

1,262,352

Depreciation

At 1 October 2022

175,836

Charge for the year

22,708

At 30 September 2023

198,544

Carrying amount

At 30 September 2023

1,063,808

At 30 September 2022

1,086,516

Included within the net book value of land and buildings above is £986,578 (2022 - £989,978) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

100,189

171,365