Pizza Equipment Limited - Accounts to registrar (filleted) - small 18.1
Pizza Equipment Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017 |
| FOR |
| PIZZA EQUIPMENT LIMITED |
| PIZZA EQUIPMENT LIMITED (REGISTERED NUMBER: 02522697) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PIZZA EQUIPMENT LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Ferrari House |
| 258 Field End Road |
| Ruislip |
| Middlesex |
| HA4 9UU |
| PIZZA EQUIPMENT LIMITED (REGISTERED NUMBER: 02522697) |
| BALANCE SHEET |
| 31 JULY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| PIZZA EQUIPMENT LIMITED (REGISTERED NUMBER: 02522697) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2017 |
| 1. | STATUTORY INFORMATION |
| Pizza Equipment Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 31 July 2017 are the first that are prepared in accordance with FRS 102 |
| Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of transition to FRS 102 |
| Section 1A is 1 August 2015. |
| The transition to FRS 102 Section 1A "Small Entities" has not resulted in any changes in accounting policies to those used |
| previously. |
| Turnover |
| Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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 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. |
| 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. |
| Investment property |
| Land and buildings are included in the balance sheet as fixed assets at cost and revaluation at the current market rate. No |
| depreciation is applied in the assets value. |
| The properties are rented on commercial terms. |
| PIZZA EQUIPMENT LIMITED (REGISTERED NUMBER: 02522697) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 August 2016 |
| Additions |
| At 31 July 2017 |
| DEPRECIATION |
| At 1 August 2016 |
| Charge for year |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| Cost or valuation at 31 July 2017 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2009 | 195,679 | - | 195,679 |
| Valuation in 2014 | 24,029 | - | 24,029 |
| Cost | 445,292 | 93,029 | 538,321 |
| 665,000 | 93,029 | 758,029 |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2017 | 2016 |
| £ | £ |
| Cost | 445,292 | 445,292 |
| Freehold land and buildings were valued on an open market basis on 31 July 2014 by the Directors . |
| At the balance sheet date the company held assets under HP agreements with a net book value of £49,926. The |
| depreciation charge in the profit and loss account in relation to these assets was £16,609. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| PIZZA EQUIPMENT LIMITED (REGISTERED NUMBER: 02522697) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2017 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 197,285 | 217,227 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank overdraft |
| Other loans |
| The bank overdraft and loan is secured by legal mortgage over company freehold property. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 August 2016 |
| and 31 July 2017 |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £42,000 were paid to the directors . |
| 11. | CONTROLLING PARTY |
| The controlling party is A Esser. |