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ELITE PIZZA & RESTAURANT LIMITED

Registered Number
08403357
(England and Wales)

Unaudited Financial Statements for the Period ended
28 February 2024

ELITE PIZZA & RESTAURANT LIMITED
Company Information
for the period from 1 March 2023 to 28 February 2024

Directors

SASSANELLI, Alexandra
SASSANELLI, Vincenzo

Company Secretary

SASSANELLI, Alexandra

Registered Address

50 Long Lane
London
EC1A 9EJ

Registered Number

08403357 (England and Wales)
ELITE PIZZA & RESTAURANT LIMITED
Balance Sheet as at
28 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets376,71380,718
Investments4149,471148,351
226,184229,069
Current assets
Stocks512,08012,080
Debtors58,473394,254
Cash at bank and on hand345,446572,306
415,999978,640
Creditors amounts falling due within one year6(471,391)(495,541)
Net current assets (liabilities)(55,392)483,099
Total assets less current liabilities170,792712,168
Creditors amounts falling due after one year7(46,630)(52,343)
Net assets124,162659,825
Capital and reserves
Called up share capital100100
Profit and loss account124,062659,725
Shareholders' funds124,162659,825
The financial statements were approved and authorised for issue by the Board of Directors on 16 January 2025, and are signed on its behalf by:
SASSANELLI, Alexandra
Director
SASSANELLI, Vincenzo
Director

Registered Company No. 08403357
ELITE PIZZA & RESTAURANT LIMITED
Notes to the Financial Statements
for the period ended 28 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Land & buildings Over the term of the lease Plant & machinery 25% reducing balance Fixtures & fittings 25% reducing balance Office Equipment 20% reducing balance

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year3230
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 March 23109,084102,79334,39417,570263,841
Additions---11,16911,169
At 28 February 24109,084102,79334,39428,739275,010
Depreciation and impairment
At 01 March 2357,06691,68422,69311,680183,123
Charge for year6,0602,7772,9253,41215,174
At 28 February 2463,12694,46125,61815,092198,297
Net book value
At 28 February 2445,9588,3328,77613,64776,713
At 28 February 2352,01811,10911,7015,89080,718
4.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 March 23148,351148,351
Additions1,1201,120
At 28 February 24149,471149,471
Net book value
At 28 February 24149,471149,471
At 28 February 23148,351148,351

Notes

1Other investments other than loans
5.Stocks

2024

2023

££
Other stocks12,08012,080
Total12,08012,080
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables212,689250,599
Taxation and social security127,412172,961
Other creditors78,69340,732
Accrued liabilities and deferred income52,59731,249
Total471,391495,541
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.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts34,46339,977
Amounts owed to related parties12,16712,366
Total46,63052,343