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REGISTERED NUMBER: 12939288 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Monarchs Crisps Ltd

Monarchs Crisps Ltd (Registered number: 12939288)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Monarchs Crisps Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: G Davideanu
A Rus





REGISTERED OFFICE: Unit 2
Food Centre Wales
Horeb
Llandysul
SA44 4JG





REGISTERED NUMBER: 12939288 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Monarchs Crisps Ltd (Registered number: 12939288)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 444 283
Tangible assets 5 46,552 16,798
46,996 17,081

CURRENT ASSETS
Stocks 5,000 2,000
Debtors 6 13,326 11,322
Cash at bank 23,518 13,811
41,844 27,133
CREDITORS
Amounts falling due within one year 7 12,158 14,056
NET CURRENT ASSETS 29,686 13,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,682

30,158

PROVISIONS FOR LIABILITIES 11,638 4,200
NET ASSETS 65,044 25,958

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 64,944 25,858
65,044 25,958

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Monarchs Crisps Ltd (Registered number: 12939288)

Balance Sheet - continued
31 October 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:




A Rus - Director



G Davideanu - Director


Monarchs Crisps Ltd (Registered number: 12939288)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Monarchs Crisps Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - Straight line over 3 years

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Monarchs Crisps Ltd (Registered number: 12939288)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 November 2023 370
Additions 200
At 31 October 2024 570
AMORTISATION
At 1 November 2023 87
Amortisation for year 39
At 31 October 2024 126
NET BOOK VALUE
At 31 October 2024 444
At 31 October 2023 283

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 16,336 3,665 767 20,768
Additions 35,960 2,650 300 38,910
At 31 October 2024 52,296 6,315 1,067 59,678
DEPRECIATION
At 1 November 2023 3,420 343 207 3,970
Charge for year 7,993 895 268 9,156
At 31 October 2024 11,413 1,238 475 13,126
NET BOOK VALUE
At 31 October 2024 40,883 5,077 592 46,552
At 31 October 2023 12,916 3,322 560 16,798

Monarchs Crisps Ltd (Registered number: 12939288)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 5,307 5,676
Other debtors 1,500 1,500
VAT 5,438 3,814
Prepayments 1,081 332
13,326 11,322

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Wages Control 345 1,835
Tax 8,206 1,544
Social security and other taxes 9 370
Directors' current accounts 1,555 9,512
Accrued expenses 2,043 795
12,158 14,056

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.24 31.10.23
£    £   
Within one year 6,500 6,500
Between one and five years 23,000 29,500
29,500 36,000

Lease payments recognised as an expense during the year amounted to £6,500.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
A Rus
Balance outstanding at start of year (4,830 ) (1,057 )
Amounts advanced 12,513 10,933
Amounts repaid (9,223 ) (14,706 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,540 ) (4,830 )

Monarchs Crisps Ltd (Registered number: 12939288)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

G Davideanu
Balance outstanding at start of year (4,683 ) 428
Amounts advanced 13,891 19,809
Amounts repaid (9,223 ) (24,920 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15 ) (4,683 )

Included within other creditors are the above amounts owed to the directors by the company. These amounts are interest free and have no set terms of repayment.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Rus and G Davideanu by virtue of their equal shareholdings.