Micky's Chippy Limited Filleted accounts for Companies House (small and micro)

MICKY'S CHIPPY LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-02-01 Sage Accounts Production Advanced 2018 - FRS 75,000 52,500 7,500 60,000 15,000 22,500 4,145 3,439 105 3,544 601 706 xbrli:pure xbrli:shares iso4217:GBP 05303768 2017-02-01 2018-01-31 05303768 2018-01-31 05303768 2017-01-31 05303768 2016-02-01 2017-01-31 05303768 2017-01-31 05303768 core:FurnitureFittings 2017-02-01 2018-01-31 05303768 bus:OrdinaryShareClass1 2017-02-01 2018-01-31 05303768 bus:Director1 2017-02-01 2018-01-31 05303768 bus:Director2 2017-02-01 2018-01-31 05303768 core:NetGoodwill 2017-01-31 05303768 core:NetGoodwill 2018-01-31 05303768 core:FurnitureFittings 2017-01-31 05303768 core:FurnitureFittings 2018-01-31 05303768 core:WithinOneYear 2018-01-31 05303768 core:WithinOneYear 2017-01-31 05303768 core:ShareCapital 2018-01-31 05303768 core:ShareCapital 2017-01-31 05303768 core:RetainedEarningsAccumulatedLosses 2018-01-31 05303768 core:RetainedEarningsAccumulatedLosses 2017-01-31 05303768 core:NetGoodwill 2017-02-01 2018-01-31 05303768 core:NetGoodwill 2017-01-31 05303768 core:AfterOneYear 2018-01-31 05303768 core:FurnitureFittings 2017-01-31 05303768 bus:SmallEntities 2017-02-01 2018-01-31 05303768 bus:AuditExemptWithAccountantsReport 2017-02-01 2018-01-31 05303768 bus:FullAccounts 2017-02-01 2018-01-31 05303768 bus:SmallCompaniesRegimeForAccounts 2017-02-01 2018-01-31 05303768 bus:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31 05303768 bus:OrdinaryShareClass1 2018-01-31 05303768 bus:OrdinaryShareClass1 2017-01-31

COMPANY REGISTRATION NUMBER: 05303768

Micky's Chippy Limited

Filleted Unaudited Financial Statements

31 January 2018

Micky's Chippy Limited

Financial Statements

Year ended 31 January 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Micky's Chippy Limited

Statement of Financial Position

31 January 2018

	2018		2017
Note	£	£	£	£

Fixed assets

Intangible assets	5	15,000	22,500
Tangible assets	6	601	706
		--------	--------
		15,601	23,206

Current assets

Stocks		835	1,341
Debtors	7	930	1,054
Cash at bank and in hand		10,660	7,743
		--------	--------
		12,425	10,138

Creditors: amounts falling due within one year	8	44,912		41,875
		--------		--------
Net current liabilities			32,487		31,737
			--------		--------
Total assets less current liabilities			( 16,886)		( 8,531)

Provisions

Taxation including deferred tax	–	134
	--------	-------
Net liabilities	( 16,886)	( 8,665)
	--------	-------

Micky's Chippy Limited

Statement of Financial Position (continued)

31 January 2018

	2018		2017
Note	£	£	£	£

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		( 16,986)	( 8,765)
		--------	-------
Shareholders deficit		( 16,886)	( 8,665)
		--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2018 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 1 August 2018 , and are signed on behalf of the board by:

C W Yip O P Yip

Director Director

Company registration number: 05303768

Micky's Chippy Limited

Notes to the Financial Statements

Year ended 31 January 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Church Green East, Redditch, Worcestershire, B98 8BT. The place of business is 86 Beoley Road, Redditch, Worcestershire, B98 8LX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The directors of the company will continue to provide financial support, in view of this, the directors consider it appropriate to prepare financial statements on the going concern basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents sales of goods and is recognised when goods are physically supplied to the customer.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line on the net book value

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & Fittings	-	15% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price after making due allowance for obsolete and slow moving items.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2017: 3 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 February 2017 and 31 January 2018	75,000
	--------
Amortisation
At 1 February 2017	52,500
Charge for the year	7,500
	--------
At 31 January 2018	60,000
	--------
Carrying amount
At 31 January 2018	15,000
	--------
At 31 January 2017	22,500
	--------

6. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 February 2017 and 31 January 2018	4,145	4,145
	-------	-------
Depreciation
At 1 February 2017	3,439	3,439
Charge for the year	105	105
	-------	-------
At 31 January 2018	3,544	3,544
	-------	-------
Carrying amount
At 31 January 2018	601	601
	-------	-------
At 31 January 2017	706	706
	-------	-------

7. Debtors

	2018	2017
	£	£
Other debtors	930	1,054
	----	-------

The debtors above include the following amounts falling due after more than one year:

	2018	2017
	£	£
Other debtors	34	–
	----	----

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Social security and other taxes	47	48
Other creditors	44,865	41,827
	--------	--------
	44,912	41,875
	--------	--------

9. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----