The Paignton Pier Chippy Co Limited 10917446 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is operation of a chippy. Digita Accounts Production Advanced 6.30.9574.0 true true true 10917446 2023-04-01 2024-03-31 10917446 2024-03-31 10917446 core:CurrentFinancialInstruments 2024-03-31 10917446 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10917446 core:FurnitureFittings 2024-03-31 10917446 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 10917446 core:OfficeEquipment 2024-03-31 10917446 core:PlantMachinery 2024-03-31 10917446 bus:SmallEntities 2023-04-01 2024-03-31 10917446 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10917446 bus:FilletedAccounts 2023-04-01 2024-03-31 10917446 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10917446 bus:RegisteredOffice 2023-04-01 2024-03-31 10917446 bus:Director5 2023-04-01 2024-03-31 10917446 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10917446 core:FurnitureFittings 2023-04-01 2024-03-31 10917446 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10917446 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 10917446 core:LeaseholdImprovements 2023-04-01 2024-03-31 10917446 core:OfficeEquipment 2023-04-01 2024-03-31 10917446 core:PlantMachinery 2023-04-01 2024-03-31 10917446 1 2023-04-01 2024-03-31 10917446 countries:England 2023-04-01 2024-03-31 10917446 2023-03-31 10917446 core:FurnitureFittings 2023-03-31 10917446 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 10917446 core:OfficeEquipment 2023-03-31 10917446 core:PlantMachinery 2023-03-31 10917446 2021-12-01 2023-03-31 10917446 2023-03-31 10917446 core:CurrentFinancialInstruments 2023-03-31 10917446 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10917446 core:FurnitureFittings 2023-03-31 10917446 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 10917446 core:OfficeEquipment 2023-03-31 10917446 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 10917446

The Paignton Pier Chippy Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

The Paignton Pier Chippy Co Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

The Paignton Pier Chippy Co Limited

(Registration number: 10917446)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

98,970

116,844

Current assets

 

Stocks

9,000

11,346

Debtors

5

315,475

214,293

Cash at bank and in hand

 

104,117

103,411

 

428,592

329,050

Creditors: Amounts falling due within one year

6

(214,516)

(207,413)

Net current assets

 

214,076

121,637

Total assets less current liabilities

 

313,046

238,481

Provisions for liabilities

(7,280)

(8,983)

Net assets

 

305,766

229,498

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

305,666

229,398

Shareholders' funds

 

305,766

229,498

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 17 March 2025 and signed on its behalf by:
 

 

The Paignton Pier Chippy Co Limited

(Registration number: 10917446)
Statement of Financial Position as at 31 March 2024 (continued)


Shaw Wallis
Director

 

The Paignton Pier Chippy Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is operation of a chippy.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Summary of disclosure exemptions

The company has taken the exemption in Section 1AC.35 of FRS102 from disclosing related party transactions with 100% group companies..

Going concern

The financial statements have been prepared on a going concern basis.

 

The Paignton Pier Chippy Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The Paignton Pier Chippy Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

depreciated over the life of the lease

Plant and machinery

15% reducing balance

Fixtures and fittings

10 years straight line

Office equipment

25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

The Paignton Pier Chippy Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 12).

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

30,641

80,419

105,502

17,402

233,964

Additions

-

-

-

458

458

At 31 March 2024

30,641

80,419

105,502

17,860

234,422

Depreciation

At 1 April 2023

9,841

39,382

55,976

11,921

117,120

Charge for the year

1,456

8,042

7,429

1,405

18,332

At 31 March 2024

11,297

47,424

63,405

13,326

135,452

Carrying amount

At 31 March 2024

19,344

32,995

42,097

4,534

98,970

At 31 March 2023

20,800

41,037

49,526

5,481

116,844

 

The Paignton Pier Chippy Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

308,082

208,082

Other debtors

 

190

-

Prepayments

 

7,203

6,211

 

315,475

214,293

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

17,472

23,348

Taxation and social security

40,106

72,309

Accruals and deferred income

9,871

(2,000)

Other creditors

147,067

113,756

214,516

207,413

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Parent and ultimate parent undertaking

The company's immediate parent is Pier Holdings (SW) Ltd, incorporated in United Kingdom.