Company registration number 02484944 (England and Wales)
ST ROCCO'S SHOPS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
ST ROCCO'S SHOPS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
ST ROCCO'S SHOPS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
63,667
80,242
Current assets
Debtors
4
107,628
63,041
Cash at bank and in hand
318,516
224,151
426,144
287,192
Creditors: amounts falling due within one year
5
(418,850)
(246,429)
Net current assets
7,294
40,763
Total assets less current liabilities
70,961
121,005
Provisions for liabilities
(35,940)
(35,770)
Net assets
35,021
85,235
Capital and reserves
Called up share capital
3,000
3,000
Profit and loss reserves
32,021
82,235
Total equity
35,021
85,235

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 7 August 2023 and are signed on its behalf by:
2023-08-07
C D Vannerem-Martin
Director
Company Registration No. 02484944
ST ROCCO'S SHOPS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2021
3,000
63,270
66,270
Year ended 31 December 2021:
Profit and total comprehensive income for the year
-
18,965
18,965
Balance at 31 December 2021
3,000
82,235
85,235
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
(50,214)
(50,214)
Balance at 31 December 2022
3,000
32,021
35,021
ST ROCCO'S SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

St Rocco's Shops Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Rocco's Hospice, Lockton Lane, Warrington, Cheshire, WA5 0BW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:

- The company has transferred to the buyer the significant risks and rewards of ownership of the goods;

- The company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- The amount of revenue can be measured reliably;

- It is probable that the economic benefits associated with the transaction will flow to the company and;

- The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Retail Income is recognised at point of sale. Goods donated for sale are included as income at the point of sale. Gift Aid income claimed under the UK Retail Gift Aid Scheme is accrued at the point of sale.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10%/20% straight line
Plant and equipment
14% straight line
Fixtures and fittings
14% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ST ROCCO'S SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction 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

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

ST ROCCO'S SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts 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 or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

ST ROCCO'S SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 6 -
1.12
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
20
12
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2022
23,098
17,938
109,692
16,255
166,983
Additions
-
0
-
0
1,410
-
0
1,410
At 31 December 2022
23,098
17,938
111,102
16,255
168,393
Depreciation and impairment
At 1 January 2022
10,018
17,675
42,964
16,084
86,741
Depreciation charged in the year
2,547
186
15,081
171
17,985
At 31 December 2022
12,565
17,861
58,045
16,255
104,726
Carrying amount
At 31 December 2022
10,533
77
53,057
-
0
63,667
At 31 December 2021
13,080
263
66,728
171
80,242
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,845
788
Other debtors
102,783
62,253
107,628
63,041
ST ROCCO'S SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
28,582
66,851
Amounts owed to group undertakings
351,810
140,425
Other creditors
38,458
39,153
418,850
246,429
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Statutory Auditor:
Xeinadin Audit Limited
Senior Statutory Auditor:
Andrew Taylor FCCA
2022-12-31 2022-01-01 false 07 August 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity This audit opinion is unqualified Mr Z Clements Mr J A Farquharson C D Vannerem-Martin Mr I D Currie Lara Partridge Mr J S Stockton 02484944 2022-01-01 2022-12-31 02484944 2022-12-31 02484944 2021-12-31 02484944 core:LandBuildings core:LeasedAssetsHeldAsLessee 2022-12-31 02484944 core:PlantMachinery 2022-12-31 02484944 core:FurnitureFittings 2022-12-31 02484944 core:MotorVehicles 2022-12-31 02484944 core:LandBuildings core:LeasedAssetsHeldAsLessee 2021-12-31 02484944 core:PlantMachinery 2021-12-31 02484944 core:FurnitureFittings 2021-12-31 02484944 core:MotorVehicles 2021-12-31 02484944 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02484944 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 02484944 core:CurrentFinancialInstruments 2022-12-31 02484944 core:CurrentFinancialInstruments 2021-12-31 02484944 core:ShareCapital 2022-12-31 02484944 core:ShareCapital 2021-12-31 02484944 core:RetainedEarningsAccumulatedLosses 2022-12-31 02484944 core:RetainedEarningsAccumulatedLosses 2021-12-31 02484944 core:ShareCapital 2020-12-31 02484944 core:RetainedEarningsAccumulatedLosses 2020-12-31 02484944 bus:Director3 2022-01-01 2022-12-31 02484944 core:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 02484944 2021-01-01 2021-12-31 02484944 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 02484944 core:LandBuildings core:LongLeaseholdAssets 2022-01-01 2022-12-31 02484944 core:PlantMachinery 2022-01-01 2022-12-31 02484944 core:FurnitureFittings 2022-01-01 2022-12-31 02484944 core:MotorVehicles 2022-01-01 2022-12-31 02484944 core:LandBuildings core:LeasedAssetsHeldAsLessee 2021-12-31 02484944 core:PlantMachinery 2021-12-31 02484944 core:FurnitureFittings 2021-12-31 02484944 core:MotorVehicles 2021-12-31 02484944 2021-12-31 02484944 core:LandBuildings core:LeasedAssetsHeldAsLessee 2022-01-01 2022-12-31 02484944 core:WithinOneYear 2022-12-31 02484944 core:WithinOneYear 2021-12-31 02484944 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 02484944 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 02484944 bus:FRS102 2022-01-01 2022-12-31 02484944 bus:Audited 2022-01-01 2022-12-31 02484944 bus:Director1 2022-01-01 2022-12-31 02484944 bus:Director2 2022-01-01 2022-12-31 02484944 bus:Director4 2022-01-01 2022-12-31 02484944 bus:Director5 2022-01-01 2022-12-31 02484944 bus:CompanySecretary1 2022-01-01 2022-12-31 02484944 bus:FullAccounts 2022-01-01 2022-12-31 xbrli:pure xbrli:shares iso4217:GBP