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REGISTERED NUMBER: 11779447 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SEAFRONT CHIPPY LIMITED

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEAFRONT CHIPPY LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: C R Fox
Mrs D R Fox





REGISTERED OFFICE: Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF





REGISTERED NUMBER: 11779447 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 26,000 31,200
Tangible assets 5 211,102 168,180
Investment property 6 100,000 100,000
337,102 299,380

CURRENT ASSETS
Stocks 7,500 7,535
Debtors 7 1,433 390
Cash at bank and in hand 86,653 116,979
95,586 124,904
CREDITORS
Amounts falling due within one year 8 126,136 123,824
NET CURRENT (LIABILITIES)/ASSETS (30,550 ) 1,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,552

300,460

CREDITORS
Amounts falling due after more than one year 9 (107,012 ) (126,247 )

PROVISIONS FOR LIABILITIES (15,805 ) (12,516 )
NET ASSETS 183,735 161,697

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 183,733 161,695
183,735 161,697

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

BALANCE SHEET - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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




C R Fox - Director



Mrs D R Fox - Director


SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Seafront Chippy Limited is a private company limited by shares, incorporated and domiciled in England. It has its registered office at Beckside Court, Annie Reed Road, Beverley, HU17 0LF and principal place of business at 20 Marine Drive, Hornsea, HU18 1NJ.

The principal activity of the company is that of a seafood takeaway outlet.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 52,000
AMORTISATION
At 1 February 2023 20,800
Charge for year 5,200
At 31 January 2024 26,000
NET BOOK VALUE
At 31 January 2024 26,000
At 31 January 2023 31,200

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 102,304 94,389 196,693
Additions - 53,717 53,717
At 31 January 2024 102,304 148,106 250,410
DEPRECIATION
At 1 February 2023 - 28,513 28,513
Charge for year - 10,795 10,795
At 31 January 2024 - 39,308 39,308
NET BOOK VALUE
At 31 January 2024 102,304 108,798 211,102
At 31 January 2023 102,304 65,876 168,180

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 100,000
NET BOOK VALUE
At 31 January 2024 100,000
At 31 January 2023 100,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,136 -
Other debtors 297 390
1,433 390

SEAFRONT CHIPPY LIMITED (REGISTERED NUMBER: 11779447)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,355 15,346
Taxation and social security 48,280 32,525
Other creditors 62,501 75,953
126,136 123,824

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 107,012 126,247

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a loan from the directors of £60,800 (2023 - £74,204). This loan is interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who hold 100% of the issued share capital.