Il Forno Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05077446 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Il Forno Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Paolo Cillo

REGISTERED OFFICE:

132 Duke Street

Liverpool

Merseyside

L1 5AG

REGISTERED NUMBER:

05077446 (England and Wales)

ACCOUNTANTS:

LJS Accounting Services (UK) Ltd

Unit 5, 1st Floor

Connect Business Village

24 Derby Road

Liverpool

Merseyside

L5 9PR

FIXED ASSETS

Tangible assets

4

373,289

310,613

CURRENT ASSETS

Work in Progress

51,742

22,928

Debtors

5

62,016

61,728

Cash at bank and in hand

35,571

51,719

149,329

136,375

CREDITORS

Amounts falling due within one year

6

612,975

513,865

NET CURRENT LIABILITIES

(463,646

)

(377,490

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(90,357

)

(66,877

)

CREDITORS

Amounts falling due after more than one
year

7

81,782

100,157

NET LIABILITIES

(172,139

)

(167,034

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(172,239

)

(167,134

)

(172,139

)

(167,034

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 1 July 2022 and were signed by:

Mr Paolo Cillo - Director

1.	STATUTORY INFORMATION

Il Forno 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.

Plant & equipment

-

10% on cost

Fixtures and fittings

-

10% on cost

Stocks

Work in progress 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 44 (2020 - 43 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant &

and

equipment

fittings

Totals

£

COST

At 1 January 2021

1,798,031

285,166

2,083,197

Additions

47,446

53,154

100,600

At 31 December 2021

1,845,477

338,320

2,183,797

DEPRECIATION

At 1 January 2021

1,698,008

74,576

1,772,584

Charge for year

13,786

24,138

37,924

At 31 December 2021

1,711,794

98,714

1,810,508

NET BOOK VALUE

At 31 December 2021

133,683

239,606

373,289

At 31 December 2020

100,023

210,590

310,613

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

Trade debtors

31,965

31,953

Amounts owed by group undertakings

25,699

Other debtors

4,352

4,076

62,016

61,728

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

Hire purchase contracts

13,375

Trade creditors

346,771

281,579

Amounts owed to group undertakings

16,126

31,372

Taxation and social security

53,472

97,323

Other creditors

183,231

90,216

612,975

513,865

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.21

31.12.20

£

Bank loans

45,000

50,000

Hire purchase contracts

36,782

50,157

81,782

100,157

Il Forno Limited - Accounts to registrar (filleted) - small 18.2

Il Forno Limited - Accounts to registrar (filleted) - small 18.2