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Registration number: 14804558

Pazzo Bristol Limited

Unaudited Filleted Financial Statements

for the Period from 15 April 2023 to 31 January 2024

Pages for filing with Registrar

 

Pazzo Bristol Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Pazzo Bristol Limited

Company Information

Directors

J H Harvey

B M Harvey

D C Borel

Registered office

Annexe Mill Cottage
Mina Road
Bristol
BS2 9YN

Registered number

14804558

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Pazzo Bristol Limited

(Registration number: 14804558)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

253,225

Current assets

 

Stocks

8,109

Debtors

5

55,048

Cash at bank and in hand

 

7,560

 

70,717

Creditors: Amounts falling due within one year

6

(288,991)

Net current liabilities

 

(218,274)

Net assets

 

34,951

Capital and reserves

 

Called up share capital

7

100

Profit and loss account

34,851

Total equity

 

34,951

 

Pazzo Bristol Limited

(Registration number: 14804558)
Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 29 October 2024 and signed on its behalf by:
 

.........................................

D C Borel
Director

 

Pazzo Bristol Limited

Notes to the Unaudited Financial Statements for the Period from 15 April 2023 to 31 January 2024

1

Statutory information

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

The address of its registered office is:
Annexe Mill Cottage
Mina Road
Bristol
BS2 9YN

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the forecasted cashflows for the company for the twelve months from the date of approval of these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future.

Disclosure of long or short period

These financial statements have been prepared for the shortened period from incorporation to the first accounting reference date, being 31 January 2024.

 

Pazzo Bristol Limited

Notes to the Unaudited Financial Statements for the Period from 15 April 2023 to 31 January 2024

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.

Tangible fixed assets

Tangible assets are stated in the statement of financial position 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 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:

Freehold property

25% straight-line

Plant and machinery

25% straight-line

Furniture & Fixtures

25% straight-line

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 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 net realisable value.

Trade creditors

Trade creditors are recognised at the transaction price.

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.

 

Pazzo Bristol Limited

Notes to the Unaudited Financial Statements for the Period from 15 April 2023 to 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 20.

 

Pazzo Bristol Limited

Notes to the Unaudited Financial Statements for the Period from 15 April 2023 to 31 January 2024

4

Tangible fixed assets

Leasehold property
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost

Additions

243,420

4,780

12,270

260,470

At 31 January 2024

243,420

4,780

12,270

260,470

Depreciation

Charge for the period

5,607

421

1,217

7,245

At 31 January 2024

5,607

421

1,217

7,245

Carrying amount

At 31 January 2024

237,813

4,359

11,053

253,225

5

Debtors: amounts falling due within one year

2024
£

Trade debtors

540

Prepayments

9,648

Other debtors

44,860

55,048

 

Pazzo Bristol Limited

Notes to the Unaudited Financial Statements for the Period from 15 April 2023 to 31 January 2024

6

Creditors

2024
£

Amounts falling due within one year

Trade creditors

42,747

Taxation and social security

23,067

Other creditors

209,807

Accruals

4,920

Directors' loan accounts

8,450

288,991

7

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary of £1 each

100

100

     
 

Pazzo Bristol Limited

Notes to the Unaudited Financial Statements for the Period from 15 April 2023 to 31 January 2024

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

-

The amount of non-cancellable operating lease payments recognised as an expense during the period was £17,500 .

9

Related party transactions

Loans from related parties

2024

Other related parties
£

Total
£

Advanced

192,158

192,158

At end of period

192,158

192,158