2023-04-012024-03-312024-03-31false06179812SWEET & CHILLI 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SWEET & CHILLI LIMITED

Registered Number
06179812
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SWEET & CHILLI LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

GAGE, Allan

Company Secretary

GAGE, Allan

Registered Address

Ground Floor
8 Holyrood Street
London
SE1 2EL

Registered Number

06179812 (England and Wales)
SWEET & CHILLI LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets346,94050,220
46,94050,220
Current assets
Stocks124,77687,289
Debtors1,370,1351,631,752
Current asset investments20,04520,045
Cash at bank and on hand866,153810,552
2,381,1092,549,638
Creditors amounts falling due within one year4(542,685)(598,603)
Net current assets (liabilities)1,838,4241,951,035
Total assets less current liabilities1,885,3642,001,255
Provisions for liabilities(12,598)(9,575)
Net assets1,872,7661,991,680
Capital and reserves
Called up share capital100100
Profit and loss account1,872,6661,991,580
Shareholders' funds1,872,7661,991,680
The financial statements were approved and authorised for issue by the Director on 12 August 2024, and are signed on its behalf by:
GAGE, Allan
Director
Registered Company No. 06179812
SWEET & CHILLI LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery33
Fixtures and fittings33
Vehicles20
Office Equipment33
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year3435
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23547,763
Additions19,840
At 31 March 24567,603
Depreciation and impairment
At 01 April 23497,543
Charge for year23,120
At 31 March 24520,663
Net book value
At 31 March 2446,940
At 31 March 2350,220
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables231,72082,575
Bank borrowings and overdrafts102,478208,731
Amounts owed to related parties554-
Taxation and social security117,840148,124
Other creditors6,5634,205
Accrued liabilities and deferred income83,530154,968
Total542,685598,603
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Other commitments
Other creditors include a Bounce Back Loan repayable as follows: Within one year £50,000, one to two years £50,000 and two to three years £2,478 (31 March 2023 Within one year £45,833, one to two years £50,000, two to three years £50,000, three to four years £50,000 and four to five years £4,167).