Da Spago Food Limited |
Notes to the Accounts |
for the year ended 30 June 2022 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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2 |
Employees |
2022 |
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2021 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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At 1 July 2021 |
100,000 |
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At 30 June 2022 |
100,000 |
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4 |
Creditors: amounts falling due within one year |
2022 |
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2021 |
£ |
£ |
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Other creditors |
99,898 |
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99,898 |
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5 |
Other information |
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Da Spago Food Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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5th Floor, North Side |
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7-10 Chandos Street |
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London |
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W1G 9DQ |