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REGISTERED NUMBER: 05303696 (England and Wales)















Financial Statements for the Year Ended 28th February 2023

for

West Malling Stores Limited

West Malling Stores Limited (Registered number: 05303696)

Contents of the Financial Statements
for the year ended 28th February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


West Malling Stores Limited

Company Information
for the year ended 28th February 2023







DIRECTORS: J K Madan
T S Madan
S S Madan





REGISTERED OFFICE: 1/3 Manor Road
Chatham
Kent
ME4 6AE





REGISTERED NUMBER: 05303696 (England and Wales)





ACCOUNTANTS: Beak Kemmenoe
Chartered Accountants
1-3 Manor Road
Chatham
Kent
ME4 6AE

West Malling Stores Limited (Registered number: 05303696)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 750 750
Tangible assets 5 18,297 20,330
19,047 21,080

CURRENT ASSETS
Stocks 334,987 334,456
Cash at bank 22,069 17,568
357,056 352,024
CREDITORS
Amounts falling due within one year 6 109,301 109,799
NET CURRENT ASSETS 247,755 242,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,802

263,305

PROVISIONS FOR LIABILITIES 7 386 289
NET ASSETS 266,416 263,016

CAPITAL AND RESERVES
Called up share capital 66,767 66,767
Retained earnings 199,649 196,249
SHAREHOLDERS' FUNDS 266,416 263,016

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

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

West Malling Stores Limited (Registered number: 05303696)

Balance Sheet - continued
28th 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 Board of Directors and authorised for issue on 27th November 2023 and were signed on its behalf by:





T S Madan - Director


West Malling Stores Limited (Registered number: 05303696)

Notes to the Financial Statements
for the year ended 28th February 2023


1. STATUTORY INFORMATION

West Malling Stores 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.

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.
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

West Malling Stores Limited (Registered number: 05303696)

Notes to the Financial Statements - continued
for the year ended 28th February 2023


4. INTANGIBLE FIXED ASSETS

Goodwill is not being amortised as the original cost is considered to be immaterial.

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st March 2022
and 28th February 2023 43,000
DEPRECIATION
At 1st March 2022 22,670
Charge for year 2,033
At 28th February 2023 24,703
NET BOOK VALUE
At 28th February 2023 18,297
At 28th February 2022 20,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 5,965 9,632
Other creditors 103,336 100,167
109,301 109,799

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 386 289

Deferred
tax
£   
Balance at 1st March 2022 289
Provided during year 97
Balance at 28th February 2023 386