COMPANY REGISTRATION NUMBER:
SC705528
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Glasgow Pizza Company Limited |
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Filleted Unaudited Financial Statements |
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Glasgow Pizza Company Limited |
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Year ended 30 September 2025
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Report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
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Statement of financial position |
2 |
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Notes to the financial statements |
3 |
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Glasgow Pizza Company Limited |
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Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Glasgow Pizza Company Limited |
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Year ended 30 September 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glasgow Pizza Company Limited for the year ended 30 September 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Glasgow Pizza Company Limited, as a body, in accordance with the terms of our engagement letter dated 17 November 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Glasgow Pizza Company Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glasgow Pizza Company Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Glasgow Pizza Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glasgow Pizza Company Limited. You consider that Glasgow Pizza Company Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Glasgow Pizza Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY
Chartered accountants
216 West George Street
Glasgow
G2 2PQ
7 September 2026
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Glasgow Pizza Company Limited |
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Statement of Financial Position |
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30 September 2025
Fixed assets
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Investments |
4 |
1,000 |
1,000 |
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Current assets
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Debtors |
5 |
1,000 |
1,000 |
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------- |
------- |
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Net current assets |
1,000 |
1,000 |
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------- |
------- |
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Total assets less current liabilities |
2,000 |
2,000 |
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------- |
------- |
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Capital and reserves
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Called up share capital |
2,000 |
2,000 |
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------- |
------- |
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Shareholders funds |
2,000 |
2,000 |
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------- |
------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
7 September 2026
, and are signed on behalf of the board by:
Company registration number:
SC705528
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Glasgow Pizza Company Limited |
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Notes to the Financial Statements |
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Year ended 30 September 2025
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Investments
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Shares in group undertakings |
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£ |
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Cost |
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At 1 October 2024 and 30 September 2025 |
1,000 |
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------- |
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Impairment |
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At 1 October 2024 and 30 September 2025 |
– |
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------- |
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Carrying amount |
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At 30 September 2025 |
1,000 |
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------- |
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At 30 September 2024 |
1,000 |
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------- |
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The company owns the entire share capital of The Victor Pizza Company Limited.
5.
Debtors
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2025 |
2024 |
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£ |
£ |
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Amounts owed by group undertakings |
1,000 |
1,000 |
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------- |
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6.
Directors' advances, credits and guarantees
During the year dividends were paid to Mr P &
Mrs AM Cairney
, directors, totalling £110,000 (2024: £163,000).
7.
Related party transactions
The company received dividends of £110,000 from its subsidiary, The Victor Pizza Company Limited, during the year. (2024: £163,000). At the year end the company was owed £1,000 from that company.