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REGISTERED NUMBER: 02186085 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SILVIO'S QUALITY SANDWICH BARS LIMITED

SILVIO'S QUALITY SANDWICH BARS LIMITED (REGISTERED NUMBER: 02186085)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SILVIO'S QUALITY SANDWICH BARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P Ciccone
Mrs L Ciccone
S P Ciccone





REGISTERED OFFICE: 7 St. Johns Road
Harrow
Middlesex
HA1 2EY





REGISTERED NUMBER: 02186085 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

SILVIO'S QUALITY SANDWICH BARS LIMITED (REGISTERED NUMBER: 02186085)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,659 148,084

CURRENT ASSETS
Stocks 5 - 10,850
Debtors 6 2,458,750 2,456,645
Cash at bank 4,275 5,725
2,463,025 2,473,220
CREDITORS
Amounts falling due within one year 7 38,801 58,918
NET CURRENT ASSETS 2,424,224 2,414,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,525,883

2,562,386

CREDITORS
Amounts falling due after more than one year 8 (18,756 ) (23,333 )

PROVISIONS FOR LIABILITIES (5,035 ) (9,392 )
NET ASSETS 2,502,092 2,529,661

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 2,502,042 2,529,611
SHAREHOLDERS' FUNDS 2,502,092 2,529,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:



S P Ciccone - Director


SILVIO'S QUALITY SANDWICH BARS LIMITED (REGISTERED NUMBER: 02186085)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Silvio's Quality Sandwich Bars 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. ACCOUNTING POLICIES

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

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

Turnover is recognised on the delivery and consumption of the meals.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 2% on reducing balance
Long leasehold - 2% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

SILVIO'S QUALITY SANDWICH BARS LIMITED (REGISTERED NUMBER: 02186085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Long and Computer
leasehold leasehold fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 45,003 155,510 337,763 8,034 546,310
Additions - - 2,404 - 2,404
Disposals (45,003 ) - (223,064 ) - (268,067 )
At 31 March 2024 - 155,510 117,103 8,034 280,647
DEPRECIATION
At 1 April 2023 24,635 80,186 288,431 4,974 398,226
Charge for year 408 1,506 5,255 1,197 8,366
Eliminated on disposal (25,043 ) - (202,561 ) - (227,604 )
At 31 March 2024 - 81,692 91,125 6,171 178,988
NET BOOK VALUE
At 31 March 2024 - 73,818 25,978 1,863 101,659
At 31 March 2023 20,368 75,324 49,332 3,060 148,084

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks - 10,850

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 890
Amounts owed by related company 2,458,750 2,436,250
Other debtors - 19,505
2,458,750 2,456,645

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 4,077 16,905
Amounts owed to related company 21,231 14,723
Taxation and social security 185 2,696
Other creditors 3,308 14,594
38,801 58,918

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 18,756 23,333

SILVIO'S QUALITY SANDWICH BARS LIMITED (REGISTERED NUMBER: 02186085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 28,756 33,333

10. RELATED PARTY DISCLOSURES

Included in other debtors are £2,436,250 (2023: £2,436,250), an amount due from LPC Properties Limited, a company in which Mr P Ciccone is a director, and £22,500 (2023: NIL), an amount due from Silvios 37DST Limited, a company in which Mr S P Ciccone is a director. The loans are interest free and with no specific terms of repayment.

During the year, the company paid management fees of £42,250 (2023: £39,167) to Silvios Coffee Bars Limited, a company in which Mr S P Ciccone is a director. As at the year end, the company owed £21,231 (2023: £14,723) to Silvios Coffee Bars Limited. The amount owed is interest free and there is no specific terms of repayment.