Registered number
09398211
Pip the Chip Limited
Accounts
For the Year ended
31 January 2024
Oakensen
Chartered Accountants
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Pip the Chip Limited
Registered number: 09398211
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 639 610
Current assets
Debtors 4 13,419 11,662
Cash at bank and in hand 93 36
13,512 11,698
Creditors: amounts falling due within one year 5 (13,282) (10,729)
Net current assets 230 969
Net assets 869 1,579
Capital and reserves
Called up share capital 100 100
Profit and loss account 769 1,479
Shareholders' funds 869 1,579
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P M Martin
Director
Approved by the board on 28 October 2024
Pip the Chip Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when the work has been completed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 5 years
Office equipment 7 years
Debtors
Short term debtors are measured at transaction price,which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment Plant and machinery Total
£ £ £
Cost
At 1 February 2023 500 6,723 7,223
Additions - 318 318
At 31 January 2024 500 7,041 7,541
Depreciation
At 1 February 2023 499 6,114 6,613
Charge for the year - 289 289
At 31 January 2024 499 6,403 6,902
Net book value
At 31 January 2024 1 638 639
At 31 January 2023 1 609 610
4 Debtors 2024 2023
£ £
Other debtors 13,419 11,662
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,151 257
Taxation and social security costs 10,333 9,115
Other creditors 1,798 1,357
13,282 10,729
6 Other information
Pip the Chip Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
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