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Registered Number: 10162223
England and Wales

 

 

 

KRISPY CHIP LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Mr Zacharias Gregory Zachariou
Registered Number 10162223
Registered Office 2 DEVON ROAD
40 Vicarage Road
CANNOCK
WS11 8EH
Accountants Marneros Marcus & Co Limited


1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 85    106 
85    106 
Current assets      
Stocks 4 1,275    960 
Debtors 5 19,159    46 
Cash at bank and in hand 108,451    72,890 
128,885    73,896 
Creditors: amount falling due within one year 6 (62,502)   (34,969)
Net current assets 66,383    38,927 
 
Total assets less current liabilities 66,468    39,033 
Creditors: amount falling due after more than one year 7 (16,918)  
Net assets 49,550    39,033 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 49,450    38,933 
Shareholders' funds 49,550    39,033 
 


For the year ended 31 May 2024 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 27 February 2025 and were signed by:


-------------------------------
Mr Zacharias Gregory Zachariou
Director
2
General Information
Krispy Chip Limited is a private company, limited by shares, registered in England and Wales, registration number 10162223, registration address 2 DEVON ROAD, 40 Vicarage Road, CANNOCK, WS11 8EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
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
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:
Fixtures and Fittings 20 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.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 June 2023 165    165 
Additions  
Disposals  
At 31 May 2024 165    165 
Depreciation
At 01 June 2023 59    59 
Charge for year 21    21 
On disposals  
At 31 May 2024 80    80 
Net book values
Closing balance as at 31 May 2024 85    85 
Opening balance as at 01 June 2023 106    106 


4.

Stocks

2024
£
  2023
£
Stocks 1,275    960 
1,275    960 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Directors' Current Accounts 19,159    46 
19,159    46 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 26,396    3,713 
Bank Loans & Overdrafts 23,349    12,109 
Corporation Tax 3,029    3,375 
PAYE & Social Security   24 
Accrued Expenses 1,527    1,954 
VAT 8,201    13,794 
62,502    34,969 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors 16,918   
16,918   

3