Acorah Software Products - Accounts Production 15.0.400 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11113296 Mr D J Lewis Mr J R Lewis Mr O Earl iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11113296 2022-12-31 11113296 2023-12-31 11113296 2023-01-01 2023-12-31 11113296 frs-core:CurrentFinancialInstruments 2023-12-31 11113296 frs-core:Non-currentFinancialInstruments 2023-12-31 11113296 frs-core:ComputerEquipment 2023-12-31 11113296 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11113296 frs-core:ComputerEquipment 2022-12-31 11113296 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 11113296 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 11113296 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 11113296 frs-core:PlantMachinery 2023-12-31 11113296 frs-core:PlantMachinery 2023-01-01 2023-12-31 11113296 frs-core:PlantMachinery 2022-12-31 11113296 frs-core:SharePremium 2023-12-31 11113296 frs-core:ShareCapital 2023-12-31 11113296 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11113296 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11113296 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11113296 frs-bus:SmallEntities 2023-01-01 2023-12-31 11113296 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11113296 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11113296 frs-bus:Director1 2023-01-01 2023-12-31 11113296 frs-bus:Director1 2022-12-31 11113296 frs-bus:Director1 2023-12-31 11113296 frs-bus:Director2 2023-01-01 2023-12-31 11113296 frs-bus:Director2 2022-12-31 11113296 frs-bus:Director2 2023-12-31 11113296 frs-bus:Director3 2023-01-01 2023-12-31 11113296 frs-bus:Director3 2022-12-31 11113296 frs-bus:Director3 2023-12-31 11113296 frs-core:CurrentFinancialInstruments 1 2023-12-31 11113296 frs-countries:EnglandWales 2023-01-01 2023-12-31 11113296 2021-12-31 11113296 2022-12-31 11113296 2022-01-01 2022-12-31 11113296 frs-core:CurrentFinancialInstruments 2022-12-31 11113296 frs-core:Non-currentFinancialInstruments 2022-12-31 11113296 frs-core:SharePremium 2022-12-31 11113296 frs-core:ShareCapital 2022-12-31 11113296 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11113296 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 11113296
True Craft Pizza And Beer Ltd
Financial Statements
For The Year Ended 31 December 2023
AM & Company
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11113296
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 166,301 75,785
166,301 75,785
CURRENT ASSETS
Debtors 5 45,162 17,142
Cash at bank and in hand 107,583 102,357
152,745 119,499
Creditors: Amounts Falling Due Within One Year 6 (183,685 ) (144,314 )
NET CURRENT ASSETS (LIABILITIES) (30,940 ) (24,815 )
TOTAL ASSETS LESS CURRENT LIABILITIES 135,361 50,970
Creditors: Amounts Falling Due After More Than One Year 7 (108,860 ) (32,357 )
NET ASSETS 26,501 18,613
CAPITAL AND RESERVES
Called up share capital 8 3 3
Share premium account 20,000 20,000
Profit and Loss Account 6,498 (1,390 )
SHAREHOLDERS' FUNDS 26,501 18,613
Page 1
Page 2
For the year ending 31 December 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
Mr D J Lewis
Director
29/05/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
True Craft Pizza And Beer Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11113296 . The registered office is 168 Seaford Road, London, N15 5DS.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Leasehold 10% Straight line
Plant & Machinery 10% Straight line
Computer Equipment 25% Straight line
2.4. 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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2.4. 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: 36 (2022: 21)
36 21
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 80,428 51,377 7,310 139,115
Additions 102,874 12,510 515 115,899
As at 31 December 2023 183,302 63,887 7,825 255,014
Depreciation
As at 1 January 2023 39,895 16,125 7,310 63,330
Provided during the period 18,480 6,388 515 25,383
As at 31 December 2023 58,375 22,513 7,825 88,713
Net Book Value
As at 31 December 2023 124,927 41,374 - 166,301
As at 1 January 2023 40,533 35,252 - 75,785
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 520 -
Prepayments and accrued income 25,000 12,500
Other debtors (1) 19,642 4,642
45,162 17,142
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2 218
Bank loans and overdrafts 31,127 39,217
Corporation tax 19,658 25,869
Other taxes and social security 8,622 20,873
VAT 46,275 22,516
Net wages 15,892 5,377
Pensions Payable 57 -
Other creditors (1) 16,552 30,198
Directors' loan accounts 45,500 46
183,685 144,314
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 12,369 32,357
RLS loans 96,491 -
108,860 32,357
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
9. Directors Advances, Credits and Guarantees
Included within creditors are the following amounts owed to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr David Lewis (46 ) 16,250 46 - 16,250
Mr John Lewis - 16,250 - - 16,250
Mr Oswald Earl - 13,000 - - 13,000
The above loan is unsecured, interest free and repayable on demand.
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