Castle Chippy Ltd 13833749 false 2022-01-07 2023-01-31 2023-01-31 The principal activity of the company is Chip Shop Digita Accounts Production Advanced 6.30.9574.0 true 13833749 2022-01-07 2023-01-31 13833749 2023-01-31 13833749 core:RetainedEarningsAccumulatedLosses 2023-01-31 13833749 core:ShareCapital 2023-01-31 13833749 core:CurrentFinancialInstruments 2023-01-31 13833749 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13833749 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 13833749 core:Goodwill 2023-01-31 13833749 core:FurnitureFittingsToolsEquipment 2023-01-31 13833749 core:MotorVehicles 2023-01-31 13833749 core:OtherPropertyPlantEquipment 2023-01-31 13833749 bus:SmallEntities 2022-01-07 2023-01-31 13833749 bus:AuditExemptWithAccountantsReport 2022-01-07 2023-01-31 13833749 bus:FullAccounts 2022-01-07 2023-01-31 13833749 bus:SmallCompaniesRegimeForAccounts 2022-01-07 2023-01-31 13833749 bus:RegisteredOffice 2022-01-07 2023-01-31 13833749 bus:Director1 2022-01-07 2023-01-31 13833749 bus:PrivateLimitedCompanyLtd 2022-01-07 2023-01-31 13833749 core:Goodwill 2022-01-07 2023-01-31 13833749 core:FurnitureFittingsToolsEquipment 2022-01-07 2023-01-31 13833749 core:MotorVehicles 2022-01-07 2023-01-31 13833749 core:OfficeEquipment 2022-01-07 2023-01-31 13833749 core:OtherPropertyPlantEquipment 2022-01-07 2023-01-31 13833749 core:PlantMachinery 2022-01-07 2023-01-31 13833749 countries:AllCountries 2022-01-07 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13833749

Castle Chippy Ltd
Annual Report and Unaudited Financial Statements
for the Period from 7 January 2022 to 31 January 2023

Castle Chippy Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Castle Chippy Ltd

Company Information

Director | Mr Daniel Kieron George Bone

Registered office | 51 Moor Lane Clitheroe Lancashire BB7 1BE

Castle Chippy Ltd

(Registration number: 13833749)
Balance Sheet as at 31 January 2023

| Note | 2023 £
Fixed assets |  |
Intangible assets | 4 | 103,500
Tangible assets | 5 | 21,092
|  | 124,592
Current assets |  |
Stocks | 6 | 973
Debtors | 7 | 404
Cash at bank and in hand |  | 17,451
|  | 18,828
Creditors: Amounts falling due within one year | 8 | (10,985)
Net current assets |  | 7,843
Total assets less current liabilities |  | 132,435
Creditors: Amounts falling due after more than one year | 8 | (168,063)
Net liabilities |  | (35,628)
Capital and reserves |  |
Called up share capital |  | 100
Retained earnings |  | (35,728)
Shareholders' deficit |  | (35,628)

For the financial period ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his 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 on 13 April 2023

......................................... Mr Daniel Kieron George Bone Director

Castle Chippy Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2022 to 31 January 2023

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
51 Moor Lane
Clitheroe
Lancashire
BB7 1BE

These financial statements were authorised for issue by the director on 13 April 2023.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20% Straight line
Motor vehicles | 25% Straight line
Office equipment | Straight line over 3 years

Castle Chippy Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2022 to 31 January 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | Straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Castle Chippy Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2022 to 31 January 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 11.

Castle Chippy Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2022 to 31 January 2023

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
Additions acquired separately | 115,000 | 115,000
At 31 January 2023 | 115,000 | 115,000
Amortisation
Amortisation charge | 11,500 | 11,500
At 31 January 2023 | 11,500 | 11,500
Carrying amount
At 31 January 2023 | 103,500 | 103,500

5 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
Additions | 952 | 3,400 | 17,354 | 21,706
At 31 January 2023 | 952 | 3,400 | 17,354 | 21,706
Depreciation
Charge for the period | 225 | 354 | 35 | 614
At 31 January 2023 | 225 | 354 | 35 | 614
Carrying amount
At 31 January 2023 | 727 | 3,046 | 17,319 | 21,092

6 | Stocks

| 2023 £
Raw materials and consumables | 973

Castle Chippy Ltd

Notes to the Unaudited Financial Statements for the Period from 7 January 2022 to 31 January 2023

7 | Debtors

Current | 2023 £
Prepayments | 204
Staff loans | 200
| 404

8 | Creditors

Creditors: amounts falling due within one year

| 2023 £
Due within one year |
Taxation and social security | 9,825
Accruals | 1,160
| 10,985

Creditors: amounts falling due after more than one year

| Note | 2023 £
Due after one year |  |
Amounts owed to Director |  | 168,063