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Ristorante Di Paolo Ltd
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 07234070
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 139,494 160,451
Investment Properties 5 2,000,000 2,000,000
2,139,494 2,160,451
CURRENT ASSETS
Debtors 6 15,932 8,984
Cash at bank and in hand 1,960 3,506
17,892 12,490
Creditors: Amounts Falling Due Within One Year 7 (599,779 ) (642,181 )
NET CURRENT ASSETS (LIABILITIES) (581,887 ) (629,691 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,557,607 1,530,760
Creditors: Amounts Falling Due After More Than One Year 8 (374,235 ) (427,038 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (175,945 ) (175,147 )
NET ASSETS 1,007,427 928,575
CAPITAL AND RESERVES
Called up share capital 10 3 3
Revaluation reserve 11 525,000 525,000
Income Statement 482,424 403,572
SHAREHOLDERS' FUNDS 1,007,427 928,575
Page 1
Page 2
For the year ending 30 September 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 Income Statement.
On behalf of the board
Mr Dritan Duraj
Director
7th February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ristorante Di Paolo Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07234070 . The registered office is 1 St Giles Street, Norwich, Norfolk, NR2 1JJ.
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Plant & Machinery 15% reducing balance
Motor Vehicles 15% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the statement of financial position at their market value.
2.5. 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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was 1 (2023: 4)
1 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 October 2023 1,048 25,191 227,740 253,979
Additions 515 - 2,800 3,315
As at 30 September 2024 1,563 25,191 230,540 257,294
Depreciation
As at 1 October 2023 274 16,309 76,945 93,528
Provided during the period 181 1,332 22,759 24,272
As at 30 September 2024 455 17,641 99,704 117,800
Net Book Value
As at 30 September 2024 1,108 7,550 130,836 139,494
As at 1 October 2023 774 8,882 150,795 160,451
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5. Investment Property
2024
£
Fair Value
As at 1 October 2023 and 30 September 2024 2,000,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 1,300,000 1,300,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,218 500
Other debtors 12,714 8,484
15,932 8,984
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,409 3,992
Bank loans and overdrafts 80,282 81,839
Other creditors 476,174 553,885
Taxation and social security 38,914 2,465
599,779 642,181
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 374,235 427,038
9. Secured Creditors
The Bank Loan is secured against the Freehold Property held within the company. 
Of the creditors falling due within and after more than one year the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 439,235 492,038
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
11. Reserves
Revaluation Reserve
£
As at 1 October 2023 525,000
As at 30 September 2024 525,000
Page 6