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REGISTERED NUMBER: SC584843 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Fochabers Chippy Ltd

Fochabers Chippy Ltd (Registered number: SC584843)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fochabers Chippy Ltd

Company Information
for the Year Ended 31 March 2025







DIRECTORS: S A Whyte
Mrs C A Whyte





SECRETARY: S A Whyte





REGISTERED OFFICE: 28 Rodger Street
Anstruther
Fife
KY10 3DU





REGISTERED NUMBER: SC584843 (Scotland)





ACCOUNTANTS: Henderson Black & Co
Chartered Accountants
28 Rodger Street
Anstruther
Fife
KY10 3DU

Fochabers Chippy Ltd (Registered number: SC584843)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 76,500 102,000
Tangible assets 5 198,405 143,054
274,905 245,054

CURRENT ASSETS
Stocks 7,190 8,625
Debtors 6 1,700 18,765
Cash at bank and in hand 13,880 72,256
22,770 99,646
CREDITORS
Amounts falling due within one year 7 264,630 317,173
NET CURRENT LIABILITIES (241,860 ) (217,527 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,045

27,527

CREDITORS
Amounts falling due after more than one
year

8

(4,406

)

(14,803

)

PROVISIONS FOR LIABILITIES (16,885 ) (2,048 )
NET ASSETS 11,754 10,676

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,654 10,576
11,754 10,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

Fochabers Chippy Ltd (Registered number: SC584843)

Balance Sheet - continued
31 March 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:




S A Whyte - Director



Mrs C A Whyte - Director


Fochabers Chippy Ltd (Registered number: SC584843)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Fochabers Chippy Ltd is a private company, limited by shares , registered in Scotland. 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and associated assumptions are based on historical experience and other factors that are to be relevant. Actual results may differ from these estimates. In preparing these financial statements, the directors have made the following judgements:

Accruals
The directors estimate the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods and services have passed to the buyer (usually on dispatch of the goods or delivery of the service), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Fochabers Chippy Ltd (Registered number: SC584843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

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 Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Fochabers Chippy Ltd (Registered number: SC584843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, recognised at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 255,000
AMORTISATION
At 1 April 2024 153,000
Charge for year 25,500
At 31 March 2025 178,500
NET BOOK VALUE
At 31 March 2025 76,500
At 31 March 2024 102,000

Fochabers Chippy Ltd (Registered number: SC584843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2024 140,715 27,780 495 168,990
Additions - 68,075 682 68,757
Disposals - - (445 ) (445 )
At 31 March 2025 140,715 95,855 732 237,302
DEPRECIATION
At 1 April 2024 8,442 17,001 493 25,936
Charge for year 1,407 11,828 170 13,405
Eliminated on disposal - - (444 ) (444 )
At 31 March 2025 9,849 28,829 219 38,897
NET BOOK VALUE
At 31 March 2025 130,866 67,026 513 198,405
At 31 March 2024 132,273 10,779 2 143,054

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Other debtors 1,700 18,765

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade creditors 2,238 4,038
Taxation and social security 34,701 49,715
Other creditors 227,691 263,420
264,630 317,173

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Other creditors 4,406 14,803