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REGISTERED NUMBER: 11543718 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Mister Chips Limited

Mister Chips Limited (Registered number: 11543718)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mister Chips Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: Mr J A Laws
Mrs S T Laws
Mr A H C Boyd
Miss F E Laws





REGISTERED OFFICE: 28 Bagdale
Whitby
North Yorkshire
YO21 1QL





REGISTERED NUMBER: 11543718 (England and Wales)





ACCOUNTANTS: Philip Burley & Co
Chartered Accountants
28 Bagdale
Whitby
North Yorkshire
YO21 1QL

Mister Chips Limited (Registered number: 11543718)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 101,428 118,017
Tangible assets 5 160,320 161,924
261,748 279,941

CURRENT ASSETS
Stocks 129,133 7,675
Debtors 6 7,097 23,794
Cash at bank and in hand 565,320 347,292
701,550 378,761
CREDITORS
Amounts falling due within one year 7 691,719 569,365
NET CURRENT ASSETS/(LIABILITIES) 9,831 (190,604 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,579

89,337

PROVISIONS FOR LIABILITIES 30,461 30,766
NET ASSETS 241,118 58,571

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 241,018 58,471
SHAREHOLDERS' FUNDS 241,118 58,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Mister Chips Limited (Registered number: 11543718)

Balance Sheet - continued
31 March 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by:





Mr J A Laws - Director


Mister Chips Limited (Registered number: 11543718)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Mister Chips 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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.
Plant and machinery etc - 20% on reducing balance and 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 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.

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.

Mister Chips Limited (Registered number: 11543718)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2021 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 165,895
AMORTISATION
At 1 April 2021 47,878
Charge for year 16,589
At 31 March 2022 64,467
NET BOOK VALUE
At 31 March 2022 101,428
At 31 March 2021 118,017

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 208,358
Additions 17,459
At 31 March 2022 225,817
DEPRECIATION
At 1 April 2021 46,434
Charge for year 19,063
At 31 March 2022 65,497
NET BOOK VALUE
At 31 March 2022 160,320
At 31 March 2021 161,924

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Amounts owed by group undertakings 3,475 2,995
Other debtors 3,622 20,799
7,097 23,794

Mister Chips Limited (Registered number: 11543718)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 88,874 11,989
Amounts owed to group undertakings 490,495 492,876
Taxation and social security 90,867 44,544
Other creditors 21,483 19,956
691,719 569,365

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mister Chips Holdings Limited.