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Registration number: 04918437

Herbies Pizza (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Herbies Pizza (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Herbies Pizza (UK) Limited

Company Information

Director

Mr A S Brar

Company secretary

Mr A S Brar

Registered office

965 Weston Road
Slough
Berkshire
SL1 4HR

 

Herbies Pizza (UK) Limited

(Registration number: 04918437)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed Assets

 

Intangible assets

4

1

1

Tangible Assets

5

39,969

53,291

 

39,970

53,292

Current assets

 

Stocks

6

104,940

131,849

Debtors

7

425,187

246,317

Cash at bank and in hand

 

22,238

26,062

 

552,365

404,228

Creditors: Amounts falling due within one year

8

(334,319)

(237,900)

Net current assets

 

218,046

166,328

Total assets less current liabilities

 

258,016

219,620

Creditors: Amounts falling due after more than one year

8

(75,376)

(85,173)

Net assets

 

182,640

134,447

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

182,540

134,347

Shareholders' funds

 

182,640

134,447

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 February 2025
 

.........................................
Mr A S Brar
Company secretary and director

 

Herbies Pizza (UK) Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

100

134,347

134,447

Profit for the year

-

120,193

120,193

Dividends

-

(72,000)

(72,000)

At 31 December 2024

100

182,540

182,640

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

100

159,430

159,530

Profit for the year

-

28,917

28,917

Dividends

-

(54,000)

(54,000)

At 31 December 2023

100

134,347

134,447

 

Herbies Pizza (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
965 Weston Road
Slough
Berkshire
SL1 4HR
England

These financial statements were authorised for issue by the director on 18 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% net book value

 

Herbies Pizza (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents, trademarks, licences, concessions and similar

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Herbies Pizza (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2023 - 14).

4

Intangible assets

Trademarks and patents
 £

Total
£

Cost or valuation

At 1 January 2024

220,000

220,000

At 31 December 2024

220,000

220,000

Amortisation

At 1 January 2024

219,999

219,999

At 31 December 2024

219,999

219,999

Carrying amount

At 31 December 2024

1

1

At 31 December 2023

1

1

 

Herbies Pizza (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible Assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

166,081

166,081

At 31 December 2024

166,081

166,081

Depreciation

At 1 January 2024

112,790

112,790

Charge for the year

13,322

13,322

At 31 December 2024

126,112

126,112

Carrying amount

At 31 December 2024

39,969

39,969

At 31 December 2023

53,291

53,291

6

Stocks

2024
£

2023
£

Stock

104,940

131,849

7

Debtors

2024
£

2023
£

Trade debtors

258,521

226,641

Other debtors

145,265

-

Prepayments

21,401

19,676

425,187

246,317

 

Herbies Pizza (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

23,194

22,442

Trade creditors

 

235,905

177,235

Taxation and social security

 

73,819

26,708

Accruals and deferred income

 

426

5,305

Other creditors

 

975

6,210

 

334,319

237,900

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

75,376

85,173

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

33,581

45,895

Other borrowings

41,795

39,278

75,376

85,173

Current loans and borrowings

2024
£

2023
£

Other borrowings

23,194

22,442

11

Dividends

2024

2023

£

£

Interim dividend of £720.00 (2023 - £540.00) per ordinary share

72,000

54,000