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REGISTERED NUMBER: 10937742 (England and Wales)









PIZZIO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024






PIZZIO LTD (REGISTERED NUMBER: 10937742)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PIZZIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTOR: M C Palladino





REGISTERED OFFICE: 73 Merthyr Road
Whitchurch
Cardiff
CF14 1DD





REGISTERED NUMBER: 10937742 (England and Wales)






PIZZIO LTD (REGISTERED NUMBER: 10937742)

BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 83,568 125,352
Tangible assets 5 22,216 27,010
105,784 152,362

CURRENT ASSETS
Stocks 6 6,250 5,500
Debtors 7 13,661 17,009
Cash at bank and in hand 22,691 55,234
42,602 77,743
CREDITORS
Amounts falling due within one year 8 104,861 112,687
NET CURRENT LIABILITIES (62,259 ) (34,944 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,525

117,418

CREDITORS
Amounts falling due after more than one
year

9

22,571

29,995
NET ASSETS 20,954 87,423

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 20,953 87,422
SHAREHOLDERS' FUNDS 20,954 87,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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.

PIZZIO LTD (REGISTERED NUMBER: 10937742)

BALANCE SHEET - continued
28 FEBRUARY 2024


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 director and authorised for issue on 19 November 2024 and were signed by:





M C Palladino - Director


PIZZIO LTD (REGISTERED NUMBER: 10937742)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1. STATUTORY INFORMATION

Pizzio Ltd 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.

2. ACCOUNTING POLICIES

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Useful economic lives of intangible assets
The annual amortisation charge of intangible fixed assets is a fixed rate based on the useful economic life of the asset. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimate.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

PIZZIO LTD (REGISTERED NUMBER: 10937742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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.

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
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.

PIZZIO LTD (REGISTERED NUMBER: 10937742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments'. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 28 February 2024 125,352
AMORTISATION
Charge for year 41,784
At 28 February 2024 41,784
NET BOOK VALUE
At 28 February 2024 83,568
At 28 February 2023 125,352

PIZZIO LTD (REGISTERED NUMBER: 10937742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 16,797 29,653 4,869 51,319
Additions - 1,868 - 1,868
At 28 February 2024 16,797 31,521 4,869 53,187
DEPRECIATION
At 1 March 2023 2,890 17,287 4,132 24,309
Charge for year 3,359 2,847 456 6,662
At 28 February 2024 6,249 20,134 4,588 30,971
NET BOOK VALUE
At 28 February 2024 10,548 11,387 281 22,216
At 28 February 2023 13,907 12,366 737 27,010

6. STOCKS
2024 2023
£    £   
Stocks 6,250 5,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 801 1,021
Other debtors 12,860 15,988
13,661 17,009

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,472 6,733
Trade creditors 12,055 5,235
Taxation and social security 68,478 66,488
Other creditors 16,856 34,231
104,861 112,687

PIZZIO LTD (REGISTERED NUMBER: 10937742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 22,571 29,995

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 34,000 8,253
Between one and five years - 6,300
34,000 14,553

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £0.01 1 1

12. TRANSACTION WITH DIRECTORS

As at 28 February 2024 the company owed the directors £11,679 (2023: £26,072) which is included
within the creditors amounts falling due within one year.

The balance is interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

As at 28 February 2024 an amount of £6,738 was owed to the company to Pizzio 2 Ltd (2023: £9,500) a company under common control.

All amounts are interest free and considered repayable on demand