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REGISTERED NUMBER: SC252583 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Tasty Fry Limited

Tasty Fry Limited (Registered number: SC252583)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Tasty Fry Limited (Registered number: SC252583)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,918 4,621

CURRENT ASSETS
Stocks 12,500 10,500
Debtors 5 13,504 321
Cash at bank and in hand 130,818 141,849
156,822 152,670
CREDITORS
Amounts falling due within one year 6 (98,172 ) (88,511 )
NET CURRENT ASSETS 58,650 64,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

62,568

68,780

CREDITORS
Amounts falling due after more than one
year

7

(15,833

)

(25,833

)

PROVISIONS FOR LIABILITIES (932 ) (1,090 )
NET ASSETS 45,803 41,857

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 45,800 41,854
SHAREHOLDERS' FUNDS 45,803 41,857

Tasty Fry Limited (Registered number: SC252583)

Balance Sheet - continued
31 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 18 July 2024 and were signed on its behalf by:




Mrs E Gibson - Director Mr J Gibson - Director




Mr G O Gibson - Director


Tasty Fry Limited (Registered number: SC252583)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Tasty Fry Limited is a private company, limited by shares, domiciled in Scotland, registration number SC252583. The registered office is 6 Main Street, Callander, Perthshire, FK17 8BB.

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.

Turnover
Turnover represents net invoiced sales of goods and services in respect of the sale of fast food during the year, excluding value added tax. Sales are recognised at the point at which the goods are provided.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

Tasty Fry Limited (Registered number: SC252583)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2022
and 31 October 2023 10,621
DEPRECIATION
At 1 November 2022 6,000
Charge for year 703
At 31 October 2023 6,703
NET BOOK VALUE
At 31 October 2023 3,918
At 31 October 2022 4,621

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 13,504 321

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 24,299 25,141
Taxation and social security 50,352 41,225
Other creditors 13,521 12,145
98,172 88,511

Tasty Fry Limited (Registered number: SC252583)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 15,833 25,833

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr J Gibson
Balance outstanding at start of year - -
Amounts advanced 4,873 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,873 -

Mrs E Gibson
Balance outstanding at start of year - -
Amounts advanced 4,873 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,873 -

9. RELATED PARTY DISCLOSURES

The company operates in premises which are owned by two of the directors. A rental charge of £12,000 (2022: £12,000) is paid to the directors at the market rate.