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REGISTERED NUMBER: 09966838 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Stoned Pizza Limited

Stoned Pizza Limited (Registered number: 09966838)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Stoned Pizza Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr T M Honey





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 09966838 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Stoned Pizza Limited (Registered number: 09966838)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 202,106 271,470

CURRENT ASSETS
Stocks 4,100 4,100
Debtors 49,758 30,390
Cash at bank 116,402 156,024
170,260 190,514
CREDITORS
Amounts falling due within one year 222,498 240,860
NET CURRENT LIABILITIES (52,238 ) (50,346 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,868

221,124

CREDITORS
Amounts falling due after more than one
year

(5,902

)

(14,524

)

PROVISIONS FOR LIABILITIES (43,325 ) (59,074 )
NET ASSETS 100,641 147,526

CAPITAL AND RESERVES
Called up share capital 8 100 100
Share premium 29,980 29,980
Retained earnings 70,561 117,446
SHAREHOLDERS' FUNDS 100,641 147,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Stoned Pizza Limited (Registered number: 09966838)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2024 and were signed by:





Mr T M Honey - Director


Stoned Pizza Limited (Registered number: 09966838)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Stoned Pizza Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 5 years
Fixtures and fittings - Straight line over 5 years
Motor vehicles - Over period of the lease and Straight line over 5 years
Computer equipment - Straight line over 4 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Government grants
Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Government grants in respect of revenue items are credited to the profit and loss account when they are receivable.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Stoned Pizza Limited (Registered number: 09966838)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Exceptional items
The company discloses as exceptional items material items which derive from events or transactions that fall within the ordinary activities of the reporting entity and which individually, or, if of a similar type, in aggregate, it is considered need to be disclosed by virtue of their size or incidence if the financial statements are to give a true and fair view.

Going concern
The company has net current liabilities of £52,238 (2022 - £50,346).

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 25 ) .

Stoned Pizza Limited (Registered number: 09966838)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 526,540
Additions 24,662
Disposals (2,267 )
At 31 December 2023 548,935
DEPRECIATION
At 1 January 2023 255,070
Charge for year 93,415
Eliminated on disposal (1,656 )
At 31 December 2023 346,829
NET BOOK VALUE
At 31 December 2023 202,106
At 31 December 2022 271,470


6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 18,114

Non-cancellable operating leases
2023 2022
£    £   
Within one year 39,000 21,667
Between one and five years 117,000 -
In more than five years 26,000 -
182,000 21,667

Stoned Pizza Limited (Registered number: 09966838)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 18,114
Bank loans 8,166 15,049
8,166 33,163

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

Mr T M Honey, the director, has given a personal guarantee for the bank loans.

The hire purchase contracts and finance leases are secured over the assets to which they relate.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100