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Registered Number: 05031691
England and Wales

 

 

 

SQUIRREL CHIPPY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Squirrel Chippy Limited for the year ended 28 February 2023 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of Squirrel Chippy Limited, as a body, in accordance with the terms of our engagement letter dated 1 March 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Squirrel Chippy Limited and state those matters that we have agreed to state to the Board of Directors of Squirrel Chippy Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Squirrel Chippy Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Squirrel Chippy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and Profit of Squirrel Chippy Limited. You consider that Squirrel Chippy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Squirrel Chippy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.




....................................................
P and Co (Partners) LLP
48 Faulkner Street
Manchester
M1 4FH
08 November 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,607    341 
1,607    341 
Current assets      
Stocks 4 551    478 
Debtors: amounts falling due within one year 5 398    335 
Cash at bank and in hand 10,626    9,409 
11,575    10,222 
Creditors: amount falling due within one year 6 (6,747)   (6,464)
Net current assets 4,828    3,758 
 
Total assets less current liabilities 6,435    4,099 
Net assets 6,435    4,099 
 

Capital and reserves
     
Called up share capital 7 1,000    1,000 
Profit and loss account 5,435    3,099 
Shareholder's funds 6,435    4,099 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 07 November 2023 and were signed by:


-------------------------------
Mr In-Khan Mac
Director
2
General Information
Squirrel Chippy Limited is a private company, limited by shares, registered in England and Wales, registration number 05031691, registration address 48 Faulkner Street, Manchester, Lancashire, M1 4FH. The trading address of the company is 3 Collins Avenue, Blackpool, FY2 0NS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2022 32,200    32,200 
Additions 1,538    1,538 
Disposals  
At 28 February 2023 33,738    33,738 
Depreciation
At 01 March 2022 31,859    31,859 
Charge for year 272    272 
On disposals  
At 28 February 2023 32,131    32,131 
Net book values
Closing balance as at 28 February 2023 1,607    1,607 
Opening balance as at 01 March 2022 341    341 


4.

Stocks

2023
£
  2022
£
Finished Goods 551    478 
551    478 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 398    335 
398    335 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 3,038    3,609 
PAYE & Social Security   60 
Accrued Expenses 2,905    2,298 
Directors' Current Accounts 804    497 
6,747    6,464 

7.

Share Capital

Authorised
1,000 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

3