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Registration number: 04647313

The Chilli Club (Cheshire) Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023

 

The Chilli Club (Cheshire) Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

The Chilli Club (Cheshire) Ltd

(Registration number: 04647313)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

62,685

69,808

Current assets

 

Stocks

5

3,400

1,200

Debtors

6

2,839

2,209

Cash at bank and in hand

 

60,546

78,989

 

66,785

82,398

Creditors: Amounts falling due within one year

7

(96,617)

(80,447)

Net current (liabilities)/assets

 

(29,832)

1,951

Net assets

 

32,853

71,759

Capital and reserves

 

Called up share capital

100

100

Retained earnings

32,753

71,659

Shareholders' funds

 

32,853

71,759

For the financial year ending 31 March 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 year 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 22 November 2023
 

.........................................
Mr A Capps
Director

 

The Chilli Club (Cheshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
33 Scholars Green Lane
Lymm
Cheshire
WA13 0QA
United Kingdom

These financial statements were authorised for issue by the director on 22 November 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 -'The Financial Reporting Standard applicable in the UK and Repbulic of Ireland' and the Companes Act 2006.

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.

Government grants

Government grants received are credited to the profit and loss account on an accruals basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Chilli Club (Cheshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position 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

15% Reducing Balance

Fixtures and Fittings

15% Reducing Balance

Computer Equipment

15% Reducing Balance

Motor Vehicles

15% Reducing Balance

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Chilli Club (Cheshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2

Accounting policies (continued)

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 year, was 12 (2022 - 11).

 

The Chilli Club (Cheshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2022

16,486

17,599

25,486

6,990

Additions

-

-

1,000

-

At 31 March 2023

16,486

17,599

26,486

6,990

Depreciation

At 1 April 2022

-

17,449

17,255

4,665

Charge for the year

-

22

1,360

349

At 31 March 2023

-

17,471

18,615

5,014

Carrying amount

At 31 March 2023

16,486

128

7,871

1,976

At 31 March 2022

16,486

150

8,231

2,325

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

50,136

116,697

Additions

-

1,000

At 31 March 2023

50,136

117,697

Depreciation

At 1 April 2022

7,520

46,889

Charge for the year

6,392

8,123

At 31 March 2023

13,912

55,012

Carrying amount

At 31 March 2023

36,224

62,685

At 31 March 2022

42,616

69,808

5

Stocks

2023
£

2022
£

Raw materials and consumables

3,400

1,200

 

The Chilli Club (Cheshire) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

2,689

1,453

Other debtors

150

756

 

2,839

2,209

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

12,523

10,983

Taxation and social security

10,744

2,911

Accruals and deferred income

1,565

1,490

Other creditors

71,785

65,063

96,617

80,447