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Registered Number: 10447584
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 October 2023

for

LUCY'S CHIPS NORWICH LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 16,000    20,000 
Tangible fixed assets 4 6,783    10,044 
22,783    30,044 
Current assets      
Stocks 5 1,045    855 
Cash at bank and in hand 25,733    22,830 
26,778    23,685 
Creditors: amount falling due within one year 6 (83,022)   (76,947)
Net current assets (56,244)   (53,262)
 
Total assets less current liabilities (33,461)   (23,218)
Creditors: amount falling due after more than one year 7 (7,168)   (11,073)
Provisions for liabilities 8 (1,321)   (1,761)
Net assets (41,950)   (36,052)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (42,050)   (36,152)
Shareholders' funds (41,950)   (36,052)
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 October 2024 and were signed by:


-------------------------------
Kingston Gray
Director
1
General Information
Lucy's Chips Norwich Limited is a private company, limited by shares, registered in England and Wales, registration number 10447584, registration address 9 Chalk Hill House, 19 Rosary Road, Norwich, Norfolk, NR1 1SZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 25% Straight Line
Plant and Machinery 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2022 20,000    20,000 
Additions  
Disposals  
At 31 October 2023 20,000    20,000 
Amortisation
At 01 November 2022  
Charge for year 4,000    4,000 
On disposals  
At 31 October 2023 4,000    4,000 
Net book values
At 31 October 2023 16,000    16,000 
At 31 October 2022 20,000    20,000 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 November 2022 6,840    18,085    24,925 
Additions    
Disposals    
At 31 October 2023 6,840    18,085    24,925 
Depreciation
At 01 November 2022 3,840    11,041    14,881 
Charge for year 1,500    1,761    3,261 
On disposals    
At 31 October 2023 5,340    12,802    18,142 
Net book values
Closing balance as at 31 October 2023 1,500    5,283    6,783 
Opening balance as at 01 November 2022 3,000    7,044    10,044 


5.

Stocks

2023
£
  2022
£
Stocks 1,045    855 
1,045    855 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts 4,000    4,000 
Corporation Tax 82   
Other Creditors 58,995    58,995 
Directors' Current Accounts 19,945    13,952 
83,022    76,947 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 7,168    11,073 
7,168    11,073 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 1,761    831 
Charged to Profit & Loss (440)   930 
1,321    1,761 

2