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REGISTERED NUMBER: 05542529 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Russells Mini Mart Limited

Russells Mini Mart Limited (Registered number: 05542529)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Russells Mini Mart Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs S D Russell
M S A Russell





SECRETARY: Mrs S L Russell





REGISTERED OFFICE: 21 Lodge Close
Cayton
Scarborough
North Yorkshire
YO11 3RR





REGISTERED NUMBER: 05542529 (England and Wales)





ACCOUNTANTS: Edward Milnes & Co
Woodend
The Crescent
Scarborough
North Yorkshire
YO11 2PW

Russells Mini Mart Limited (Registered number: 05542529)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 54,354 53,933
54,354 53,933

CURRENT ASSETS
Stocks 22,994 25,455
Debtors 6 6,736 4,486
Cash at bank and in hand 69,023 75,680
98,753 105,621
CREDITORS
Amounts falling due within one year 7 45,286 49,831
NET CURRENT ASSETS 53,467 55,790
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,821

109,723

CREDITORS
Amounts falling due after more than one
year

8

(23,859

)

(29,474

)

PROVISIONS FOR LIABILITIES (827 ) (747 )
NET ASSETS 83,135 79,502

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 83,035 79,402
83,135 79,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Russells Mini Mart Limited (Registered number: 05542529)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





Mrs S D Russell - Director


Russells Mini Mart Limited (Registered number: 05542529)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Russells Mini Mart Limited 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 2006, has been fully amortised.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on cost and 25% 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.

Russells Mini Mart Limited (Registered number: 05542529)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 70,000
AMORTISATION
At 1 April 2022
and 31 March 2023 70,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2022 50,000 20,154 70,154
Additions - 2,110 2,110
At 31 March 2023 50,000 22,264 72,264
DEPRECIATION
At 1 April 2022 - 16,221 16,221
Charge for year - 1,689 1,689
At 31 March 2023 - 17,910 17,910
NET BOOK VALUE
At 31 March 2023 50,000 4,354 54,354
At 31 March 2022 50,000 3,933 53,933

Russells Mini Mart Limited (Registered number: 05542529)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and
machinery
£   
COST
Additions 2,110
At 31 March 2023 2,110
DEPRECIATION
Charge for year 704
At 31 March 2023 704
NET BOOK VALUE
At 31 March 2023 1,406

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,011 1,767
Other debtors 750 750
Prepayments 4,975 1,969
6,736 4,486

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 6,911 7,218
Finance leases 646 -
Trade creditors 23,197 23,419
Tax 7,433 11,082
Social security and other taxes 452 928
VAT 3,235 4,064
Other creditors 908 505
Accrued expenses 2,504 2,615
45,286 49,831

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 7,324 7,340
Bank loans - 2-5 years 15,432 22,134
Finance leases 1,103 -
23,859 29,474

Russells Mini Mart Limited (Registered number: 05542529)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs S D Russell
Balance outstanding at start of year - -
Amounts advanced 50,819 56,704
Amounts repaid (50,819 ) (56,704 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

10. CONTROLLING PARTY

The controlling party is Mrs S D Russell.