REGISTERED NUMBER: 09055632 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PEACHES AND PORCINI LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Hughes

A Mantovani

REGISTERED OFFICE:

Sutherland House

1759 London Road

Leigh on Sea

Essex

SS9 2RZ

REGISTERED NUMBER:

09055632 (England and Wales)

ACCOUNTANTS:

Platt Rushton LLP

Sutherland House

1759 London Road

Leigh on Sea

Essex

SS9 2RZ

FIXED ASSETS

Tangible assets

4

69,843

79,201

CURRENT ASSETS

Stocks

5,406

9,076

Debtors

5

176,300

159,215

Cash at bank

3,377

19,426

185,083

187,717

CREDITORS

Amounts falling due within one year

6

603,356

429,689

NET CURRENT LIABILITIES

(418,273

)

(241,972

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(348,430

)

(162,771

)

CREDITORS

Amounts falling due after more than one year

7

142,407

195,007

NET LIABILITIES

(490,837

)

(357,778

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(490,840

)

(357,781

)

SHAREHOLDERS' FUNDS

(490,837

)

(357,778

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

P Hughes - Director

1.	STATUTORY INFORMATION

Peaches and Porcini Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

1,981

148,490

150,471

DEPRECIATION

At 1 January 2024

825

70,445

71,270

Charge for year

165

9,193

9,358

At 31 December 2024

990

79,638

80,628

NET BOOK VALUE

At 31 December 2024

991

68,852

69,843

At 31 December 2023

1,156

78,045

79,201

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

193

509

Other debtors

176,107

158,706

176,300

159,215

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

66,334

54,942

Hire purchase contracts

6,530

5,807

Trade creditors

118,316

85,020

Taxation and social security

21,316

12,695

Other creditors

390,860

271,225

603,356

429,689

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

84,889

129,460

Hire purchase contracts

5,807

13,836

Other creditors

51,711

51,711

142,407

195,007

8.	RELATED PARTY DISCLOSURES

During the year under review the company maintained an intercompany loan account with 1981 Restaurants Ltd, a company under common control. The balance owed to 1981 Restaurants Ltd at the year end date was £340,398 (2023 £236,320) and is shown within other creditors.

During the year under review the company maintained an intercompany loan account with Alfresco Inns Ltd, a company under common control. The balance owed by Alfresco Inns Ltd at the year end date was £130,516 (2023 - £124,730) and is shown within other debtors.

During the year under review the company maintained an intercompany loan account with Villaggio Restaurants Ltd, a company under common control. The amount owed by Villaggio Restaurants Ltd at the year end date was £12,165 (2023 - £4,603) and is shown with other creditors.

During the year under review the company paid management fees of £14,638 to Velo Restaurant Consultancy Ltd, a company under common control. The company also maintained an intercompany loan account with Velo Restaurant Consultancy Ltd. The amount owed by Velo Restaurant Consultancy Ltd at the year end date was £31,520. (2023 - £20,000).

9.	GOING CONCERN

The company incurred a net loss during the year ended 31st December 2024. In addition, as of that date current liabilities exceeded current assets. Such occurrences could indicate the existence of some uncertainty over the company's ability to continue as a going concern. The directors have enacted a recovery plan and continue to believe that the company has the financial support of creditors and have provided personal guarantees to financial institutions in relation to outstanding borrowing. For this reason management do not anticipate a curtailment in the company's operations within 12 months from the point of signing the financial statements.