The Topping Pie Company (Crystal Peaks) Limited 08437284 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Retail sale of meat and meat products in specialised stores Digita Accounts Production Advanced 6.30.9574.0 true 08437284 2023-04-01 2024-03-31 08437284 2024-03-31 08437284 core:CurrentFinancialInstruments 2024-03-31 08437284 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08437284 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08437284 core:FurnitureFittings 2024-03-31 08437284 core:MotorVehicles 2024-03-31 08437284 bus:SmallEntities 2023-04-01 2024-03-31 08437284 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08437284 bus:FullAccounts 2023-04-01 2024-03-31 08437284 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08437284 bus:Director2 2023-04-01 2024-03-31 08437284 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08437284 core:FurnitureFittings 2023-04-01 2024-03-31 08437284 core:MotorVehicles 2023-04-01 2024-03-31 08437284 countries:AllCountries 2023-04-01 2024-03-31 08437284 2023-03-31 08437284 core:FurnitureFittings 2023-03-31 08437284 core:MotorVehicles 2023-03-31 08437284 2022-04-01 2023-03-31 08437284 2023-03-31 08437284 core:CurrentFinancialInstruments 2023-03-31 08437284 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08437284 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08437284 core:FurnitureFittings 2023-03-31 08437284 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08437284

The Topping Pie Company (Crystal Peaks) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

The Topping Pie Company (Crystal Peaks) Limited

(Registration number: 08437284)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

11,831

674

Current assets

 

Stocks

5,463

833

Debtors

4

24,932

40,398

Cash at bank and in hand

 

7,105

5,210

 

37,500

46,441

Creditors: Amounts falling due within one year

5

(38,330)

(24,541)

Net current (liabilities)/assets

 

(830)

21,900

Total assets less current liabilities

 

11,001

22,574

Creditors: Amounts falling due after more than one year

5

(8,527)

(14,629)

Provisions for liabilities

(2,958)

(168)

Net (liabilities)/assets

 

(484)

7,777

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(486)

7,775

Shareholders' (deficit)/funds

 

(484)

7,777

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

 

The Topping Pie Company (Crystal Peaks) Limited

(Registration number: 08437284)

Balance Sheet as at 31 March 2024

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 30 July 2024 and signed on its behalf by:
 

.........................................

Mr Roger John Albert Topping
Director

 

The Topping Pie Company (Crystal Peaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There has been no material departure from this standard.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Unrelieved tax losses and other deferred tax assets shall be 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.

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:

 

The Topping Pie Company (Crystal Peaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Furniture, Fixtures and fittings

20% straight line

Motor vehicles

25% reducing balance

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

 

The Topping Pie Company (Crystal Peaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost

At 1 April 2023

13,911

7,750

21,661

Additions

12,214

-

12,214

At 31 March 2024

26,125

7,750

33,875

Depreciation

At 1 April 2023

13,746

7,241

20,987

Charge for the year

930

127

1,057

At 31 March 2024

14,676

7,368

22,044

Carrying amount

At 31 March 2024

11,449

382

11,831

At 31 March 2023

165

509

674

4

Debtors

2024
 £

2023
 £

Amounts owed by related parties

19,025

38,427

Other debtors

 

5,907

1,921

Prepayments

 

-

50

 

24,932

40,398

 

The Topping Pie Company (Crystal Peaks) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

2024
 £

2023
 £

Due within one year

Bank loans

5,949

5,796

Trade creditors

5,135

1,745

Amounts due to related parties

15,887

3,801

Social security and other taxes

9,206

7,680

Other payables

58

-

Accrued expenses

2,095

1,830

Corporation tax

-

3,689

38,330

24,541

Due after one year

Bank loans

8,527

14,629