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REGISTERED NUMBER: 11779447 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

SEAFRONT CHIPPY LIMITED

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

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


SEAFRONT CHIPPY LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2023







DIRECTORS: C R Fox
Mrs D R Fox





REGISTERED OFFICE: Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF





REGISTERED NUMBER: 11779447 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,200 36,400
Tangible assets 5 168,180 142,179
Investment property 6 100,000 100,000
299,380 278,579

CURRENT ASSETS
Stocks 7,535 9,539
Debtors 7 390 299
Cash at bank and in hand 116,979 95,528
124,904 105,366
CREDITORS
Amounts falling due within one year 8 123,824 106,697
NET CURRENT ASSETS/(LIABILITIES) 1,080 (1,331 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,460

277,248

CREDITORS
Amounts falling due after more than one year 9 (126,247 ) (138,706 )

PROVISIONS FOR LIABILITIES (12,516 ) (7,576 )
NET ASSETS 161,697 130,966

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 161,695 130,964
161,697 130,966

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

BALANCE SHEET - continued
31 January 2023


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.

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 20 July 2023 and were signed on its behalf by:




C R Fox - Director



Mrs D R Fox - Director


SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Seafront Chippy 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.

The company operates as a seafood takeaway outlet.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company including the impact of Covid-19, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

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 2019, 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 - 25% on cost and 15% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

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.

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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 52,000
AMORTISATION
At 1 February 2022 15,600
Charge for year 5,200
At 31 January 2023 20,800
NET BOOK VALUE
At 31 January 2023 31,200
At 31 January 2022 36,400

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 102,304 58,977 161,281
Additions - 35,412 35,412
At 31 January 2023 102,304 94,389 196,693
DEPRECIATION
At 1 February 2022 - 19,102 19,102
Charge for year - 9,411 9,411
At 31 January 2023 - 28,513 28,513
NET BOOK VALUE
At 31 January 2023 102,304 65,876 168,180
At 31 January 2022 102,304 39,875 142,179

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 100,000
NET BOOK VALUE
At 31 January 2023 100,000
At 31 January 2022 100,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 390 299

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 15,346 18,222
Taxation and social security 32,525 43,309
Other creditors 75,953 45,166
123,824 106,697

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 126,247 138,706

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a loan from the directors of £74,204 (2022 - £43,324). This loan is interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who hold 100% of the issued share capital.