Registered number
06711972
Adam Pizza Limited
Filleted Accounts
31 October 2024
Adam Pizza Limited
Registered number: 06711972
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 271,700 271,700
Tangible assets 4 109,778 144,091
381,478 415,791
Current assets
Stocks 11,756 12,153
Debtors 5 236,926 201,104
Investments held as current assets 6 668,469 668,469
Cash at bank and in hand 419,345 378,433
1,336,496 1,260,159
Creditors: amounts falling due within one year 7 (291,262) (349,699)
Net current assets 1,045,234 910,460
Total assets less current liabilities 1,426,712 1,326,251
Creditors: amounts falling due after more than one year 8 (40,722) (67,864)
Net assets 1,385,990 1,258,387
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,385,890 1,258,287
Shareholders' funds 1,385,990 1,258,387
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Dariusz Joachimiak
Director
Approved by the board on 4 July 2025
Adam Pizza Limited
Notes to the Accounts
for the year ended 31 October 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Plant and machinery 20% Reducing Balance
Fixtures, fittings, tools and equipment 20% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 90 90
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 286,700
At 31 October 2024 286,700
Amortisation
At 1 November 2023 15,000
At 31 October 2024 15,000
Net book value
At 31 October 2024 271,700
At 31 October 2023 271,700
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 2,500 647,216 116,121 765,837
Additions - 1,446 - 1,446
At 31 October 2024 2,500 648,662 116,121 767,283
Depreciation
At 1 November 2023 - 565,143 56,603 621,746
Charge for the year - 20,880 14,879 35,759
At 31 October 2024 - 586,023 71,482 657,505
Net book value
At 31 October 2024 2,500 62,639 44,639 109,778
At 31 October 2023 2,500 82,073 59,518 144,091
5 Debtors 2024 2023
£ £
Prepayments 19,592 11,945
Other debtors 217,334 189,159
236,926 201,104
6 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 668,469 668,469
668,469 668,469
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 39,333 45,199
Taxation and social security costs 170,434 147,358
Other creditors 81,495 157,142
291,262 349,699
8 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 40,722 67,864
40,722 67,864
9 Other information
Adam Pizza Limited is a private company limited by shares and incorporated in England. Its registered office is:
73 Groeswen Park
Margam
Port Talbot
West Glamorgan
SA13 2LJ
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