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Registered number: 11566061
The Fry Inn (Chester) Ltd
Financial Statements
For The Year Ended 31 August 2023
Charles & Co.
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11566061
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 232,089 47,009
232,089 47,009
CURRENT ASSETS
Stocks 5 4,770 3,890
Debtors 6 1,198 -
Cash at bank and in hand 33,934 121,704
39,902 125,594
Creditors: Amounts Falling Due Within One Year 7 (118,938 ) (48,816 )
NET CURRENT ASSETS (LIABILITIES) (79,036 ) 76,778
TOTAL ASSETS LESS CURRENT LIABILITIES 153,053 123,787
Creditors: Amounts Falling Due After More Than One Year 8 (17,919 ) (25,699 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,336 ) (8,932 )
NET ASSETS 128,798 89,156
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 128,698 89,056
SHAREHOLDERS' FUNDS 128,798 89,156
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Edmond Lika
Director
19/12/2023
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Fry Inn (Chester) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11566061 . The registered office is 153 Long Lane, Upton, Chester, Cheshire, CH2 2JF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 4%
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was  11 (2022: 11)
11 11
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 September 2022 - 4,377 47,269 784
Additions 202,854 2,438 - -
Disposals - - (9,995 ) -
As at 31 August 2023 202,854 6,815 37,274 784
Depreciation
As at 1 September 2022 - 989 4,373 268
Provided during the period 4,114 872 9,318 77
Disposals - - (4,373 ) -
As at 31 August 2023 4,114 1,861 9,318 345
Net Book Value
As at 31 August 2023 198,740 4,954 27,956 439
As at 1 September 2022 - 3,388 42,896 516
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Computer Equipment Total
£ £
Cost
As at 1 September 2022 629 53,059
Additions - 205,292
Disposals - (9,995 )
As at 31 August 2023 629 248,356
Depreciation
As at 1 September 2022 420 6,050
Provided during the period 209 14,590
Disposals - (4,373 )
As at 31 August 2023 629 16,267
Net Book Value
As at 31 August 2023 - 232,089
As at 1 September 2022 209 47,009
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 27,956 42,896
27,956 42,896
5. Stocks
2023 2022
£ £
Materials 4,770 3,890
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 723 -
Other debtors 475 -
1,198 -
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 8,554 9,876
Corporation tax 13,582 1,812
Other taxes and social security 2,487 1,496
VAT 24,136 18,476
Net wages 2,017 -
Other creditors 355 199
Accruals and deferred income 3,980 3,430
Director's loan account 63,827 13,527
118,938 48,816
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 17,919 25,699
17,919 25,699
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,554 9,876
Later than one year and not later than five years 17,919 25,699
26,473 35,575
26,473 35,575
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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