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REGISTERED NUMBER: 10291112 (England and Wales)















Crazy P's NQ Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2023






Crazy P's NQ Ltd (Registered number: 10291112)






Contents of the Financial Statements
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crazy P's NQ Ltd

Company Information
for the year ended 31 January 2023







DIRECTORS: JW Ferguson
LB Higginson
R Mackenzie
P Robinson





REGISTERED OFFICE: The Landmark
21 Back Turner Street
Manchester
M4 1FR





REGISTERED NUMBER: 10291112 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Crazy P's NQ Ltd (Registered number: 10291112)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 147,584 167,198

CURRENT ASSETS
Stocks 20,141 12,691
Debtors 5 329,925 415,855
Cash at bank 70,883 91,910
420,949 520,456
CREDITORS
Amounts falling due within one year 6 207,686 318,341
NET CURRENT ASSETS 213,263 202,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

360,847

369,313

PROVISIONS FOR LIABILITIES 8 28,175 31,558
NET ASSETS 332,672 337,755

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 332,671 337,754
332,672 337,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Crazy P's NQ Ltd (Registered number: 10291112)

Balance Sheet - continued
31 January 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





P Robinson - Director


Crazy P's NQ Ltd (Registered number: 10291112)

Notes to the Financial Statements
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Crazy P's NQ Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£) and the amounts in the financial statements have been rounded to the nearest £1.

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.

At the time of signing these accounts the directors are of the opinion that the company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Fixtures and fittings - 20% 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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Crazy P's NQ Ltd (Registered number: 10291112)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 February 2022 187,318 117,469 304,787
Additions - 380 380
At 31 January 2023 187,318 117,849 305,167
DEPRECIATION
At 1 February 2022 61,425 76,164 137,589
Charge for year 11,705 8,289 19,994
At 31 January 2023 73,130 84,453 157,583
NET BOOK VALUE
At 31 January 2023 114,188 33,396 147,584
At 31 January 2022 125,893 41,305 167,198

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 208,409 404,530
Other debtors 112,719 235
Prepayments and accrued income 8,797 11,090
329,925 415,855

Crazy P's NQ Ltd (Registered number: 10291112)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 63,731 30,605
Amounts owed to group undertakings - 12,505
Taxation and social security 79,521 107,425
Other creditors 64,434 167,806
207,686 318,341

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 25,000 25,000
Between one and five years 100,000 75,000
In more than five years 175,000 225,000
300,000 325,000

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 28,175 31,558

Deferred
tax
£   
Balance at 1 February 2022 31,558
Provided during year (3,383 )
Balance at 31 January 2023 28,175

9. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by the parent company Crazy Pedro's (Holdings) Ltd, which has held 100% of the share capital since 7 July 2022.

Crazy Pedro's (Holdings) Ltd is exempt from the requirement to produce group accounts.

There is a cross guarantee between Crazy P's NQ Ltd and the other group and related companies in favour of the groups bankers.