Riverside Pizza Company Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02665255 (England and Wales)

Riverside Pizza Company Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 May 2017

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr M K Alpmen

Mrs Z A Alpmen

SECRETARY:

Mrs Z A Alpmen

REGISTERED OFFICE:

La Figa

The Mosaic

45 Narrow Street

London

E14 8DN

REGISTERED NUMBER:

02665255 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Abridged

Income Statement and certain other primary statements and the Report of the Directors are not

required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Riverside Pizza Company Limited for the year ended 31 May 2017

which comprise the Abridged Statement of Income and Retained Earnings, Abridged Statement of Financial

Position and the related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Riverside Pizza Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Riverside Pizza Company Limited and state those matters that we have agreed to state to the Board of Directors of Riverside Pizza Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Riverside Pizza Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Riverside Pizza Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Riverside Pizza Company Limited. You consider that Riverside Pizza Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Riverside Pizza Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

9 February 2018

FIXED ASSETS

Intangible assets

4

108,000

144,000

Property, plant and equipment

5

1,333,082

1,359,695

1,441,082

1,503,695

CURRENT ASSETS

Inventories

35,073

33,819

Debtors

16,893

31,068

Cash at bank and in hand

257,841

138,994

309,807

203,881

CREDITORS

Amounts falling due within one year

201,718

163,735

NET CURRENT ASSETS

108,089

40,146

TOTAL ASSETS LESS CURRENT LIABILITIES

1,549,171

1,543,841

CREDITORS

Amounts falling due after more than one year

6

(563,161

)

(604,256

)

PROVISIONS FOR LIABILITIES

8

(7,719

)

(5,464

)

NET ASSETS

978,291

934,121

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

978,191

934,021

SHAREHOLDERS' FUNDS

978,291

934,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 7 February 2018 and were signed on its behalf by:

Mr M K Alpmen - Director

1.	STATUTORY INFORMATION

Riverside 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and

estimates. The items in the financial statements where these judgements and estimates have been

made include:

Goodwill

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Turnover is recognised when the goods are physically delivered to the customers, and is generated

from the ordinary activities of the company.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being

amortised evenly over its remaining useful life of five years from 1st June 2015 when FRS 102 was

adopted.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Improvements to property

-

2% on cost

Plant and machinery

-

25% on cost

FF & equipment

-

10% on cost

Motor vehicles

-

20% on cost

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is determined on a first in first out basis. Net realisable value represents estimated selling price

less costs to complete and sell.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

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.

Going concern

In the directors' assessment of the company's ability to continue as a going concern, there are no

material uncertainties that may cast significant doubt about the company's ability to continue as a

going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2016 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

and 31 May 2017

200,000

AMORTISATION

At 1 June 2016

56,000

Amortisation for year

36,000

At 31 May 2017

92,000

NET BOOK VALUE

At 31 May 2017

108,000

At 31 May 2016

144,000

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 June 2016

1,840,907

Additions

16,632

At 31 May 2017

1,857,539

DEPRECIATION

At 1 June 2016

481,212

Charge for year

43,245

At 31 May 2017

524,457

NET BOOK VALUE

At 31 May 2017

1,333,082

At 31 May 2016

1,359,695

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2017

2016

£

£

Repayable by instalments

Bank loans more 5 yr by instal

403,558

444,653

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

603,062

644,157

The bank loan is secured on the property of the company.

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

7,719

5,464

Deferred

tax

£

Balance at 1 June 2016

5,464

Charge to Abridged Income Statement during year

2,255

Balance at 31 May 2017

7,719

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 June 2016

934,021

Profit for the year

64,170

Dividends

(20,000

)

At 31 May 2017

978,191

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2016 - £10,000) were paid to the directors .

Mr M K Alpmen

Director and 50% shareholder

Amount due to related party at balance sheet date £45,085 (2016: £20,085).

Mrs Z A Alpmen

Director and 50% shareholder

Amount due to related party at balance sheet date £10,000 (2016: nil).