The St Ives Pizza Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08242106 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

THE ST IVES PIZZA COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I S Crocker

Mrs C S Crocker

SECRETARY:

REGISTERED OFFICE:

7c Penbeagle Industrial Estate

St. Ives

England

Cornwall

TR26 2JH

REGISTERED NUMBER:

08242106 (England and Wales)

ACCOUNTANTS:

Greenwood Wilson

The Old School

The Stennack

St Ives

Cornwall

TR26 1QU

FIXED ASSETS

Tangible assets

4

20,907

18,086

CURRENT ASSETS

Stocks

1,600

1,600

Debtors

5

1,469

3,640

Cash at bank and in hand

68,756

6,146

71,825

11,386

CREDITORS

Amounts falling due within one year

6

63,960

29,372

NET CURRENT ASSETS/(LIABILITIES)

7,865

(17,986

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,772

100

PROVISIONS FOR LIABILITIES

3,972

3,260

NET ASSETS/(LIABILITIES)

24,800

(3,160

)

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

24,698

(3,262

)

SHAREHOLDERS' FUNDS

24,800

(3,160

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2022 and were signed on its behalf by:

I S Crocker - Director

1.	STATUTORY INFORMATION

The St Ives Pizza Company 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 and machinery etc

-

10% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

29,220

Additions

7,101

Disposals

(4,230

)

At 31 March 2021

32,091

DEPRECIATION

At 1 April 2020

11,134

Charge for year

2,257

Eliminated on disposal

(2,207

)

At 31 March 2021

11,184

NET BOOK VALUE

At 31 March 2021

20,907

At 31 March 2020

18,086

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

1,469

3,640

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

18,900

-

Taxation and social security

13,373

1,256

Other creditors

31,687

28,116

63,960

29,372

7.

RESERVES

The directors have unknowingly declared dividends in excess of available reserves. They undertake not to declare any further dividends until such time as there are sufficient reserves available for purpose.