SIPP FOOD LIMITED - Filleted accounts

Registered number

07466677

SIPP FOOD LIMITED

Filleted Accounts

31 December 2024

SIPP FOOD LIMITED
Registered number:		07466677
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		7,424			8,660
Tangible assets	4		47,985			57,257
			55,409			65,917

Current assets
Stocks		5,750			5,500
Debtors	5	53,961			93,748
Cash at bank and in hand		1,347			2,700
		61,058			101,948

Creditors: amounts falling due within one year	6	(217,685)			(264,534)

Net current liabilities			(156,627)			(162,586)

Total assets less current liabilities			(101,218)			(96,669)

Creditors: amounts falling due after more than one year	7		(4,814)			(14,951)

Provisions for liabilities			(11,997)			(10,726)


Net liabilities			(118,029)			(122,346)

Capital and reserves
Called up share capital			4			4
Profit and loss account			(118,033)			(122,350)

Shareholder's funds			(118,029)			(122,346)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.



Mr Sukhwinder Singh Panesar
Director
Approved by the board on 30 September 2025

SIPP FOOD LIMITED
Notes to the Accounts
for the year ended 31 December 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) and on a going concern basis on the assumption of continued financial support from the directors and the creditors.

	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:

	Franchise Fees	10% Straight Line basis
	Leasehold land and buildings	Over 20 Years
	Plant and machinery	15% Reducing Balance

	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.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	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			9		9


3	Intangible fixed assets					£
	Franchise Fees:

	Cost
	At 1 January 2024					24,732
	At 31 December 2024					24,732

	Amortisation
	At 1 January 2024					16,072
	Provided during the year					1,236
	At 31 December 2024					17,308

	Net book value
	At 31 December 2024					7,424
	At 31 December 2023					8,660



4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2024	8,057		239,270		247,327
	At 31 December 2024	8,057		239,270		247,327

	Depreciation
	At 1 January 2024	7,253		182,817		190,070
	Charge for the year	804		8,468		9,272
	At 31 December 2024	8,057		191,285		199,342

	Net book value
	At 31 December 2024	-		47,985		47,985
	At 31 December 2023	804		56,453		57,257


5	Debtors			2024		2023
£					£

	Trade debtors			17,797		12,366
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			34,784		79,910
	Other debtors			1,380		1,472
				53,961		93,748


6	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			10,000		10,000
	Trade creditors			30,131		25,731
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			139,795		155,401
	Taxation and social security costs			29,445		39,614
	Other creditors			8,314		33,788
				217,685		264,534

	The company has given charge on its assets in favour of Sipp Food (Northampton) Ltd which is included under amounts owed to group undertakings.

7	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			4,814		14,951


8	Other information

	SIPP FOOD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Charter House
	8-10 Station Road
	Manor Park
	London
	E12 5BT