Registered number
04045183
C C Continental Super Store Limited
Filleted Abridged Accounts
28 February 2022
C C Continental Super Store Limited
Registered number: 04045183
Abridged Balance Sheet
as at 28 February 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 3,308,984 3,266,780
Current assets
Stocks 478,812 403,350
Debtors 255,795 230,686
Cash at bank and in hand 10,158 16,017
744,765 650,053
Creditors: amounts falling due within one year (1,198,979) (1,290,217)
Net current liabilities (454,214) (640,164)
Total assets less current liabilities 2,854,770 2,626,616
Creditors: amounts falling due after more than one year (469,742) (620,090)
Net assets 2,385,028 2,006,526
Capital and reserves
Called up share capital 400 400
Profit and loss account 2,384,628 2,006,126
Shareholders' funds 2,385,028 2,006,526
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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
M Rashid
Director
Approved by the board on 30 August 2022
C C Continental Super Store Limited
Notes to the Abridged Accounts
for the year ended 28 February 2022
1 Accounting policies
Basis of preparation
The abridged 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:
Freehold buildings over 50 years
Plant and machinery over 15 years
Fixtures, fittings, tools and equipment over 15 years
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 48 46
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2021 120,000
At 28 February 2022 120,000
Amortisation
At 1 March 2021 120,000
At 28 February 2022 120,000
Net book value
At 28 February 2022 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Total
£
Cost
At 1 March 2021 4,248,903
Additions 128,968
Disposals (7,500)
At 28 February 2022 4,370,371
Depreciation
At 1 March 2021 982,123
Charge for the year 79,264
At 28 February 2022 1,061,387
Net book value
At 28 February 2022 3,308,984
At 28 February 2021 3,266,780
5 Other information
C C Continental Super Store Limited is a private company limited by shares and incorporated in England. Its registered office is:
125-127 Chapeltown Road
Leeds
LS7 3DU
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