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COMPANY REGISTRATION NUMBER: 12430843
DA VITO LEEDS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 January 2024
DA VITO LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION
30 January 2024
30 Jan 24
31 Jan 23
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
54,266
20,156
CURRENT ASSETS
Stocks
3,875
3,875
Debtors
6
11,085
12,210
Cash at bank and in hand
30,842
75,131
--------
--------
45,802
91,216
CREDITORS: amounts falling due within one year
7
( 64,287)
( 64,383)
--------
--------
NET CURRENT (LIABILITIES)/ASSETS
( 18,485)
26,833
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
35,781
46,989
CREDITORS: amounts falling due after more than one year
Bank loans and overdrafts
( 29,202)
( 35,179)
PROVISIONS
( 4,041)
( 3,830)
--------
--------
NET ASSETS
2,538
7,980
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
2,438
7,880
-------
-------
SHAREHOLDERS FUNDS
2,538
7,980
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DA VITO LEEDS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 January 2024
These financial statements were approved by the board of directors and authorised for issue on 21 January 2025 , and are signed on behalf of the board by:
V La Gioia
Director
Company registration number: 12430843
DA VITO LEEDS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 FEBRUARY 2023 TO 30 JANUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, United Kingdom, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
BASIS OF PREPARATION
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
GOING CONCERN
The financial statements have also been prepared on the going concern basis.The director considers the going concern basis to be appropriate as he has confirmed his ongoing support.
DISCLOSURE EXEMPTIONS
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
REVENUE RECOGNITION
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, inclusive of Value Added Tax.
INCOME TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
TANGIBLE ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
DEPRECIATION
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
STOCKS
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
FINANCIAL INSTRUMENTS
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 22 (2023: 22 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 February 2023
2,655
20,730
17,398
40,783
Additions
1,583
18,530
20,330
40,443
-------
--------
--------
--------
At 30 January 2024
4,238
39,260
37,728
81,226
-------
--------
--------
--------
Depreciation
At 1 February 2023
884
10,489
9,254
20,627
Charge for the period
484
3,712
2,137
6,333
-------
--------
--------
--------
At 30 January 2024
1,368
14,201
11,391
26,960
-------
--------
--------
--------
Carrying amount
At 30 January 2024
2,870
25,059
26,337
54,266
-------
--------
--------
--------
At 31 January 2023
1,771
10,241
8,144
20,156
-------
--------
--------
--------
6. DEBTORS
30 Jan 24
31 Jan 23
£
£
Other debtors
11,085
12,210
--------
--------
7. CREDITORS: amounts falling due within one year
30 Jan 24
31 Jan 23
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
14,909
18,417
Corporation tax
1,033
Social security and other taxes
20,230
18,224
Other creditors
23,592
21,153
--------
--------
64,287
64,383
--------
--------