PA Nino's Limited - Accounts to registrar (filleted) - small 18.2
PA Nino's Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| FOR |
| PA NINO'S LIMITED |
| PA NINO'S LIMITED (REGISTERED NUMBER: 05376330) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| PA NINO'S LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Global House |
| 303 Ballards Lane |
| London |
| N12 8NP |
| PA NINO'S LIMITED (REGISTERED NUMBER: 05376330) |
| STATEMENT OF FINANCIAL POSITION |
| 31 AUGUST 2019 |
| 31.8.19 | 31.8.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 11 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| PA NINO'S LIMITED (REGISTERED NUMBER: 05376330) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 AUGUST 2019 |
| 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 |
| PA NINO'S LIMITED (REGISTERED NUMBER: 05376330) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 1. | STATUTORY INFORMATION |
| PA Nino's Limited is a |
| company's registered number and registered office address can be found on the Company Information |
| page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents sales of services net of VAT and trade discounts. Turnover is recognised when |
| the services are provided to the customer. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised |
| evenly over its estimated useful life of 20 years.Impairment of intangible assets is reviewed where |
| circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
| at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated |
| selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged |
| stock where the net realisable value is less than cost. |
| 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. |
| Cash and cash equivalent |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty |
| on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no |
| more than three months from the date of acquisition and that are readily convertible to known amounts |
| of cash with insignificant risk of change in value. |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank |
| loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at |
| amortised cost using the effective interest method. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PA NINO'S LIMITED (REGISTERED NUMBER: 05376330) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2018 |
| and 31 August 2019 |
| AMORTISATION |
| At 1 September 2018 |
| Charge for year |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | and |
| leasehold | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2018 |
| Additions |
| At 31 August 2019 |
| DEPRECIATION |
| At 1 September 2018 |
| Charge for year |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| 6. | STOCKS |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Amounts owed by related party | 336,872 | 854,137 |
| Other debtors |
| PA NINO'S LIMITED (REGISTERED NUMBER: 05376330) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Amounts owed to related party | 368,952 | 243,091 |
| Taxation and social security |
| Other creditors |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Bank overdrafts |
| An overdraft facility of £100,000 is provided by Cynergy Bank and secured by way of debenture, being |
| a fixed and floating charge over the assets.In addition there is a guarantee from Bar Italia Holdings Ltd |
| for an unlimited amount for this overdraft facility. |
| An overdraft facility of £100,000 is provided by Barclays Bank Plc and secured over the personal |
| assets of the directors/shareholders.The overdraft is repayable on demand. |
| 11. | PROVISIONS FOR LIABILITIES |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 September 2018 |
| Balance at 31 August 2019 |
| PA NINO'S LIMITED (REGISTERED NUMBER: 05376330) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.19 | 31.8.18 |
| value: | £ | £ |
| Ordinary | 1 | 400 | 400 |
| 13. | RELATED PARTY DISCLOSURES |
| Debtors include £336,872 (2018 - £854,137) owed by Bar Italia Holdings Limited, a company under the |
| same control as Pa Nino's Limited. |
| Creditors include an amount of £368,952 (2018 - £243,091) owed to Caffe Bar Limited, a company |
| under the same control as Pa Nino's Limited. |
| Included in other debtors there is an amount of £566,056 (2018 - Cr £528) owed by the directors. |
| The above loan is unsecured, has an interest rate of 2.5% and is repayable on demand. |