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Registration number: 03287092

Storeshare Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2022

 

Storeshare Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Storeshare Limited

Company Information

Directors

A Wright

DA Wright

Registered office

4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

Accountants

Addicus
Chartered Accountants
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Storeshare Limited

(Registration number: 03287092)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

2,646

3,535

Current assets

 

Debtors

5

38,479

23,768

Cash at bank and in hand

 

43,686

38,279

 

82,165

62,047

Creditors: Amounts falling due within one year

6

(33,796)

(32,078)

Net current assets

 

48,369

29,969

Total assets less current liabilities

 

51,015

33,504

Provisions for liabilities

(503)

(672)

Net assets

 

50,512

32,832

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

50,510

32,830

Shareholders' funds

 

50,512

32,832

For the financial year ending 31 December 2022 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 accounts for the year in question in accordance with section 476; and

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

 

Storeshare Limited

(Registration number: 03287092)
Balance Sheet as at 31 December 2022

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2023 and signed on its behalf by:
 


A Wright
Director

 

Storeshare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Storeshare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fixtures

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Storeshare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2021 - 2).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2022

4,707

21,506

26,213

At 31 December 2022

4,707

21,506

26,213

Depreciation

At 1 January 2022

4,578

18,100

22,678

Charge for the year

34

855

889

At 31 December 2022

4,612

18,955

23,567

Carrying amount

At 31 December 2022

95

2,551

2,646

At 31 December 2021

129

3,406

3,535

5

Debtors

2022
£

2021
£

Trade debtors

34,381

22,593

Other debtors

2,759

-

Prepayments

1,339

1,175

38,479

23,768

 

Storeshare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

4,494

12,453

Taxation and social security

15,114

11,640

Accruals and deferred income

1,650

1,650

Other creditors

12,538

6,335

33,796

32,078

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

8

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £10,000.00 (2021 - £12,500.00) per each Ordinary Shares

 

20,000

 

25,000

         
 

Storeshare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

6,000

13,700