Leaven Pizza (Hereford) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 14700517 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

2ND MARCH 2023 TO 30TH JUNE 2023

FOR

LEAVEN PIZZA (HEREFORD) LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

R E Davison

E Kirk

D Kirk

Registered office:

32a Aubrey Street

Hereford

United Kingdom

HR4 0BU

Registered number:

14700517 (England and Wales)

Fixed assets

Tangible assets

4

79,511

Current assets

Stocks

5

7,080

Debtors

6

21,375

Cash at bank and in hand

3,974

32,429

Creditors

Amounts falling due within one year

7

135,196

Net current liabilities

(102,767

)

Total assets less current liabilities

(23,256

)

Capital and reserves

Called up share capital

9

100

Retained earnings

(23,356

)

Shareholders' funds

(23,256

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 2023 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 27th March 2024 and were signed on its behalf by:

E Kirk - Director

1.	Statutory information

Leaven Pizza (Hereford) 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.

The balance sheet at the year end shows net liabilities of £23,256, which include amounts owed to group undertakings of £97,515. The directors consider that the company is able to meet its obligations as they fall due and confirm that they will continue to support the company. Therefore they consider it appropriate to adopt the going concern basis in preparing these accounts.

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

Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements

10% SL

Plant & equipment

20% SL

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducing all of its liabilities. Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the period 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 period 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.

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 & 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 (including officers)

The average number of employees during the period was 14 .

4.	Tangible fixed assets

Leasehold

Plant &

improvements

equipment

Totals

£

£

£

Cost

Additions

5,153

77,010

82,163

At 30th June 2023

5,153

77,010

82,163

Depreciation

Charge for period

86

2,566

2,652

At 30th June 2023

86

2,566

2,652

Net book value

At 30th June 2023

5,067

74,444

79,511

5.

Stocks

£

Stocks

7,080

6.

Debtors: amounts falling due within one year

£

Trade debtors

8,474

VAT

7,456

Prepayments

5,445

21,375

7.

Creditors: amounts falling due within one year

£

Trade creditors

20,099

Amounts owed to group undertakings

97,515

Social security & other tax

3,796

Accruals & other creditors

13,786

135,196

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

£

Within one year

23,750

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

10.	Contingent liabilities

There were no contingent liabilities at 30th June 2023.

11.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The following transactions took place with related parties on normal commercial terms during the period:

Controlled, joint control or significant influence entities

Other related parties

£

£

Recharges

3,366

-

Amounts owed by the company

-

-

Purchases

-

3,055

12.	Ultimate controlling party

The company is controlled by A Rule of Tum Group Limited, which is the ultimate holding company.

Company registration number:

11540613

Company registered office address:

32 Aubrey Street

Hereford

HR4 0BU