Registration number:
The Frying Machine Ltd
for the Year Ended 30 April 2023
The Frying Machine Ltd
(Registration number: 08020639)
Balance Sheet as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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The Frying Machine Ltd
(Registration number: 08020639)
Balance Sheet as at 30 April 2023
For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Director
The Frying Machine Ltd
Notes to the Financial Statements for the Year Ended 30 April 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Basis of preparation
These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The presentation currency is sterling.
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received and receivable for sale of goods in the ordinary course of the company's activities.
Tax policies
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred Tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
The Frying Machine Ltd
Notes to the Financial Statements for the Year Ended 30 April 2023
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Goodwill
Purchased goodwill is capitalised and amortised on a straight line basis over its useful economic life of 3 years.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
20% straight line basis |
Office equipment |
20% straight line basis |
Computer equipment |
25% straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price after due regard for all items deemed unsaleable at the year end.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
Defined contribution pension obligation
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
Cash
Cash comprises cash on hand and all deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
The Frying Machine Ltd
Notes to the Financial Statements for the Year Ended 30 April 2023
Staff numbers |
The average number of persons employed by the company during the year was
Intangible assets |
Goodwill |
Total |
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Cost |
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At 1 May 2022 |
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At 30 April 2023 |
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Amortisation |
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At 1 May 2022 |
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At 30 April 2023 |
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Net book value |
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At 30 April 2023 |
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At 30 April 2022 |
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Tangible assets |
Furniture, fittings and equipment |
Office equipment |
Computer equipment |
Total |
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Cost |
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At 1 May 2022 |
13,845 |
1,100 |
1,455 |
16,400 |
Additions |
446 |
- |
- |
446 |
At 30 April 2023 |
14,291 |
1,100 |
1,455 |
16,846 |
Depreciation |
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At 1 May 2022 |
11,677 |
797 |
1,226 |
13,700 |
Charge for the year |
1,046 |
142 |
202 |
1,390 |
At 30 April 2023 |
12,723 |
939 |
1,428 |
15,090 |
Net book value |
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At 30 April 2023 |
1,568 |
161 |
27 |
1,756 |
At 30 April 2022 |
2,168 |
303 |
229 |
2,700 |
The Frying Machine Ltd
Notes to the Financial Statements for the Year Ended 30 April 2023
Debtors |
2023 |
2022 |
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Other debtors |
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Prepayments and accrued income |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Other loans |
8,990 |
- |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
The Frying Machine Ltd
Notes to the Financial Statements for the Year Ended 30 April 2023
Related party transactions |
Directors' Advances
The company provided a director with a current account on which cash advances were made and items of personal expenditure paid for by the company were charged. During the year £7,343 (2022 - £39,498) was advanced and £11,112 (2022 - £37,000) was repaid.
The company provided a director with a current account on which cash advances were made and items of personal expenditure paid for by the company were charged. During the year £7,343 (2022 - £34,372) was advanced and £11,295 (2022 - £37,000) was repaid.
Advances were unsecured and interest has been charged at the HMRC official rate.