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REGISTERED NUMBER: 09457009 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SRCC STORES LTD

SRCC STORES LTD (REGISTERED NUMBER: 09457009)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SRCC STORES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: S M James





SECRETARY:





REGISTERED OFFICE: 22 Woodland Park
Glynneath
West Glamorgan
SA11 5AY





REGISTERED NUMBER: 09457009 (England and Wales)





ACCOUNTANTS: Roger Byers & Co. Limited
Castle Buildings
23 Church Place
Neath
SA11 3LP

SRCC STORES LTD (REGISTERED NUMBER: 09457009)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 42,664 47,331
Tangible assets 5 100,082 102,700
142,746 150,031

CURRENT ASSETS
Stocks 15,950 22,000
Debtors 6 15,002 15,002
Cash at bank and in hand 3,246 5,294
34,198 42,296
CREDITORS
Amounts falling due within one year 7 (128,831 ) (111,206 )
NET CURRENT LIABILITIES (94,633 ) (68,910 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,113

81,121

CREDITORS
Amounts falling due after more than one
year

8

(59,000

)

(66,583

)

PROVISIONS FOR LIABILITIES (3,497 ) (3,497 )
NET (LIABILITIES)/ASSETS (14,384 ) 11,041

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (14,386 ) 11,039
SHAREHOLDERS' FUNDS (14,384 ) 11,041

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SRCC STORES LTD (REGISTERED NUMBER: 09457009)

BALANCE SHEET - continued
28 FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2023 and were signed by:





S M James - Director


SRCC STORES LTD (REGISTERED NUMBER: 09457009)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

SRCC Stores Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

SRCC STORES LTD (REGISTERED NUMBER: 09457009)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 6 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 80,000
AMORTISATION
At 1 March 2022 32,669
Amortisation for year 4,667
At 28 February 2023 37,336
NET BOOK VALUE
At 28 February 2023 42,664
At 28 February 2022 47,331

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 79,798 36,695 116,493
DEPRECIATION
At 1 March 2022 - 13,793 13,793
Charge for year - 2,618 2,618
At 28 February 2023 - 16,411 16,411
NET BOOK VALUE
At 28 February 2023 79,798 20,284 100,082
At 28 February 2022 79,798 22,902 102,700

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 625 625
Other debtors 14,377 14,377
15,002 15,002

SRCC STORES LTD (REGISTERED NUMBER: 09457009)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,242 -
Trade and Sundry Creditors 1 -
Taxation 3,114 5,972
Social security and other taxes 62 559
VAT 5,544 3,237
Other creditors 15,982 3,478
Paypoint 1,346 1,346
Directors' current accounts 93,587 93,661
Accrued expenses 2,953 2,953
128,831 111,206

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 37,500 43,333
Pen y Cymoedd Loan 21,500 23,250
59,000 66,583

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs R J James.

The ultimate controlling party is S M James.