Registered number
06568359
Pizza North
Filleted Accounts
30 April 2024
Pizza North
Registered number: 06568359
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 17,625 19,500
Tangible assets 4 161,543 174,869
179,168 194,369
Current assets
Stocks 4,010 3,700
Debtors 5 1,489,698 1,146,808
Investments held as current assets 6 134,720 134,000
Cash at bank and in hand 66,984 189,106
1,695,412 1,473,614
Creditors: amounts falling due within one year 7 (651,153) (646,549)
Net current assets 1,044,259 827,065
Total assets less current liabilities 1,223,427 1,021,434
Creditors: amounts falling due after more than one year 8 (148,789) (33,223)
Net assets 1,074,638 988,211
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,074,538 988,111
Shareholder's funds 1,074,638 988,211
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Slawomir Szulc
Director
Approved by the board on 13 January 2025
Pizza North
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Franchise fee 5% straight line
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 82 82
3 Intangible fixed assets £
Franchise fee
Cost
At 1 May 2023 37,500
At 30 April 2024 37,500
Amortisation
At 1 May 2023 18,000
Provided during the year 1,875
At 30 April 2024 19,875
Net book value
At 30 April 2024 17,625
At 30 April 2023 19,500
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 51,887 614,855 - 666,742
Additions - 14,088 - 14,088
At 30 April 2024 51,887 628,943 - 680,830
Depreciation
At 1 May 2023 - 491,873 - 491,873
Charge for the year - 27,414 - 27,414
At 30 April 2024 - 519,287 - 519,287
Net book value
At 30 April 2024 51,887 109,656 - 161,543
At 30 April 2023 51,887 122,982 - 174,869
5 Debtors 2024 2023
£ £
Trade debtors 13 28,244
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,486,317 1,109,942
Other debtors 3,368 8,622
1,489,698 1,146,808
6 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 134,720 134,000
134,720 134,000
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 234,013 246,617
Taxation and social security costs 186,948 164,636
Other creditors 230,192 235,296
651,153 646,549
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,797 33,223
148,789 33,223
9 Other information
Pizza North is a private company limited by shares and incorporated in England. Its registered office is:
Riverside Suite
50A Clifford Way
Maidstone
Kent
ME16 8GD
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