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Registered number: 13349330
PANUNZIO'S KITCHEN GELATI ITALIANI LTD
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13349330
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 41,528 55,423
41,528 55,423
CURRENT ASSETS
Debtors 5 7,917 8,702
Cash at bank and in hand 104,443 54,637
112,360 63,339
Creditors: Amounts Falling Due Within One Year 6 (66,244 ) (70,572 )
NET CURRENT ASSETS (LIABILITIES) 46,116 (7,233 )
TOTAL ASSETS LESS CURRENT LIABILITIES 87,644 48,190
NET ASSETS 87,644 48,190
CAPITAL AND RESERVES
Called up share capital 7 50,100 50,100
Profit and Loss Account 37,544 (1,910 )
SHAREHOLDERS' FUNDS 87,644 48,190
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Daniele PANUNZIO
Director
07/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PANUNZIO'S KITCHEN GELATI ITALIANI LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13349330 . The registered office is 38, Cotham Hill Cotham Hill, Ground Floor Shop, Bristol, England, BS6 6LA.
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:
Renovation & Refurbishment 10% SLM
Kitchen Equipments 25% SLM
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Renovation & Refurbishment Kitchen Equipments Total
£ £ £
Cost
As at 1 May 2023 16,210 54,104 70,314
Additions - 1,669 1,669
As at 30 April 2024 16,210 55,773 71,983
Depreciation
As at 1 May 2023 1,493 13,398 14,891
Provided during the period 1,621 13,943 15,564
As at 30 April 2024 3,114 27,341 30,455
...CONTINUED
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Net Book Value
As at 30 April 2024 13,096 28,432 41,528
As at 1 May 2023 14,717 40,706 55,423
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 542 -
Prepayments and accrued income 2,236 2,333
Adyen NV 514 1,744
Store Deposit 4,625 4,625
7,917 8,702
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,585 12,276
Other taxes and social security 840 650
VAT 6,154 4,254
Net wages 6,857 4,645
Loan from Caputo 28,000 36,000
Accruals and deferred income 1,588 527
Director's loan account 12,220 12,220
66,244 70,572
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50,100 50,100
8. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Daniele PANUNZIO 12,220 - - - 12,220
The above loan is unsecured, interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Mr Daniele Panunzio by virtue of his ownership 75% or more of the issued share capital in the company.
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