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Registered Number: 05699227
England and Wales

 

 

 

THE VILLAGE SHOP UPPER DICKER LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Profit and Loss Account the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Association of International Accountants and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the balance sheet as at year ended 31 July 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements



....................................................
Josh Botham Tax & Accounting Services Ltd
Archer House Britland Estate
Northbourne Road
Eastbourne
East Sussex
BN22 8PW
05 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 5 98,338    82,114 
98,338    82,114 
Current assets      
Stocks 14,850    13,640 
Debtors: amounts falling due within one year 1,478    1,478 
Cash at bank and in hand 39,210    63,268 
55,538    78,386 
Creditors: amount falling due within one year (117,432)   (125,159)
Net current liabilities (61,894)   (46,773)
 
Total assets less current liabilities 36,444    35,341 
Creditors: amount falling due after more than one year (19,409)   (22,150)
Provisions for liabilities (381)   (381)
Net assets 16,654    12,810 
 

Capital and reserves
     
Called up share capital 6 20    20 
Profit and loss account 16,634    12,790 
Shareholder's funds 16,654    12,810 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement 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).
The financial statements were approved by the board of directors on 05 October 2023 and were signed on its behalf by:


-------------------------------
Therese Flower
Director
2
General Information
The Village Shop Upper Dicker Ltd is a private company, limited by shares, registered in England and Wales, registration number 05699227, registration address The Village Shop, Coldharbour Road, Upper Dicker, Hailsham, East Sussex, BN27 3QE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 4 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0 Straight Line
Plant and Machinery 25 Straight Line
Fixtures and Fittings 25 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

     
During the year, no retirement benefits were accruing to the director (previous year nil) in respect of money purchase schemes. The highest paid director earned emoluments of £18,550 during the year.

3.

Average number of employees

Average number of employees during the year was 6 (2022 : 6).
4.

Intangible fixed assets

Cost Goodwill - this has now been fully amortised   Total
  £   £
At 01 August 2022 10,000    10,000 
Additions  
Disposals  
At 31 July 2023 10,000    10,000 
Amortisation
At 01 August 2022 10,000    10,000 
Charge for year  
On disposals  
At 31 July 2023 10,000    10,000 
Net book values
At 31 July 2023  
At 31 July 2022  


5.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 August 2022 80,000    40,825    10,999    131,824 
Additions 13,596      4,162    17,758 
Disposals      
At 31 July 2023 93,596    40,825    15,161    149,582 
Depreciation
At 01 August 2022   40,519    9,191    49,710 
Charge for year   61    1,473    1,534 
On disposals      
At 31 July 2023   40,580    10,664    51,244 
Net book values
Closing balance as at 31 July 2023 93,596    245    4,497    98,338 
Opening balance as at 01 August 2022 80,000    306    1,808    82,114 


6.

Share Capital

Authorised
1,000 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
20 Class A shares of £1.00 each 20    20 
20    20 

3