Registered number
12157165
The Chippy (Sandy) Ltd
Filleted Accounts
31 August 2024
The Chippy (Sandy) Ltd
Registered number: 12157165
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 88,000 92,400
Tangible assets 4 2,771 4,371
90,771 96,771
Current assets
Stocks 3,300 3,170
Cash at bank and in hand 7,437 4,236
10,737 7,406
Creditors: amounts falling due within one year 5 (64,872) (43,243)
Net current liabilities (54,135) (35,837)
Total assets less current liabilities 36,636 60,934
Creditors: amounts falling due after more than one year 6 (8,772) (8,772)
Net assets 27,864 52,162
Capital and reserves
Called up share capital 120,000 120,000
Profit and loss account (92,136) (67,838)
Shareholders' funds 27,864 52,162
The directors are 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 directors acknowledge their 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.
Zi Hui Chen
Director
Approved by the board on 4 March 2025
The Chippy (Sandy) Ltd
Notes to the Accounts
for the year ended 31 August 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, 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 15% at cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 110,000
At 31 August 2024 110,000
Amortisation
At 1 September 2023 17,600
Provided during the year 4,400
At 31 August 2024 22,000
Net book value
At 31 August 2024 88,000
At 31 August 2023 92,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 10,671
At 31 August 2024 10,671
Depreciation
At 1 September 2023 6,300
Charge for the year 1,600
At 31 August 2024 7,900
Net book value
At 31 August 2024 2,771
At 31 August 2023 4,371
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 222
Taxation and social security costs 5,361 5,356
Other creditors 59,511 37,665
64,872 43,243
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 8,772 8,772
7 Other information
The Chippy (Sandy) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Langley Crescent
Edgware
Middlesex
HA8 9SZ
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