F & A Convenience Stores Ltd 13023653 false 2021-12-01 2022-11-30 2022-11-30 The principal activity of the company is other retail sale in non-specialised stores Digita Accounts Production Advanced 6.30.9574.0 true true 13023653 2021-12-01 2022-11-30 13023653 2022-11-30 13023653 bus:Revised 2022-11-30 13023653 core:CurrentFinancialInstruments 2022-11-30 13023653 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 13023653 core:Goodwill 2022-11-30 13023653 core:FurnitureFittingsToolsEquipment 2022-11-30 13023653 core:LandBuildings 2022-11-30 13023653 core:OtherPropertyPlantEquipment 2022-11-30 13023653 bus:SmallEntities 2021-12-01 2022-11-30 13023653 bus:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 13023653 bus:FullAccounts 2021-12-01 2022-11-30 13023653 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 13023653 bus:RegisteredOffice 2021-12-01 2022-11-30 13023653 bus:Director1 2021-12-01 2022-11-30 13023653 bus:Director2 2021-12-01 2022-11-30 13023653 bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 13023653 core:Goodwill 2021-12-01 2022-11-30 13023653 core:FurnitureFittingsToolsEquipment 2021-12-01 2022-11-30 13023653 core:LandBuildings 2021-12-01 2022-11-30 13023653 core:OtherPropertyPlantEquipment 2021-12-01 2022-11-30 13023653 countries:UnitedKingdom 2021-12-01 2022-11-30 13023653 2021-11-30 13023653 core:Goodwill 2021-11-30 13023653 core:FurnitureFittingsToolsEquipment 2021-11-30 13023653 core:LandBuildings 2021-11-30 13023653 core:OtherPropertyPlantEquipment 2021-11-30 13023653 2020-11-16 2021-11-30 13023653 2021-11-30 13023653 core:CurrentFinancialInstruments 2021-11-30 13023653 core:CurrentFinancialInstruments core:WithinOneYear 2021-11-30 13023653 core:Goodwill 2021-11-30 13023653 core:FurnitureFittingsToolsEquipment 2021-11-30 13023653 core:LandBuildings 2021-11-30 13023653 core:OtherPropertyPlantEquipment 2021-11-30 iso4217:GBP xbrli:pure

Registration number: 13023653

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2022

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Company Information

Directors

Mr Francis Acharya

Mrs Annmarie Acharya

Registered office

30 Courtney Close
Tewkesbury
Gloucestershire
GL20 5FB

Accountants

INNventory Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

(Registration number: 13023653)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

18,609

20,935

Tangible assets

5

63,232

65,250

 

81,841

86,185

Current assets

 

Stocks

6

84,385

83,586

Debtors

7

29,804

27,500

Cash at bank and in hand

 

9,719

6,717

 

123,908

117,803

Creditors: Amounts falling due within one year

8

(220,160)

(202,700)

Net current liabilities

 

(96,252)

(84,897)

Net (liabilities)/assets

 

(14,411)

1,288

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(14,511)

1,188

Shareholders' (deficit)/funds

 

(14,411)

1,288

For the financial year ending 30 November 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.

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 29 November 2023 and signed on its behalf by:
 

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

(Registration number: 13023653)
Balance Sheet as at 30 November 2022

.........................................
Mr Francis Acharya
Director

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
30 Courtney Close
Tewkesbury
Gloucestershire
GL20 5FB
United Kingdom

These financial statements were authorised for issue by the Board on 29 November 2023.

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

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholders that they will continue to give financial support to the company for twelve months from the date of signing these accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above may not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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.

Tax

The tax expense for the period comprises current 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.

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

Fixtures & Fittings

25% on Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise Agreement

Straight line over 10 years

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2021 - 7).

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2021

23,261

23,261

At 30 November 2022

23,261

23,261

Amortisation

At 1 December 2021

2,326

2,326

Amortisation charge

2,326

2,326

At 30 November 2022

4,652

4,652

Carrying amount

At 30 November 2022

18,609

18,609

At 30 November 2021

20,935

20,935

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2021

-

87,000

-

87,000

Additions

2,800

147

14,893

17,840

At 30 November 2022

2,800

87,147

14,893

104,840

Depreciation

At 1 December 2021

-

21,750

-

21,750

Charge for the year

560

16,319

2,979

19,858

At 30 November 2022

560

38,069

2,979

41,608

Carrying amount

At 30 November 2022

2,240

49,078

11,914

63,232

At 30 November 2021

-

65,250

-

65,250

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Included within the net book value of land and buildings above is £2,240 (2021 - £Nil) in respect of long leasehold land and buildings.
 

6

Stocks

2022
£

2021
£

Finished goods and goods for resale

84,385

83,586

7

Debtors

Current

2022
£

2021
£

Trade debtors

9,561

8,275

Prepayments

4,653

3,214

Other debtors

15,590

16,011

 

29,804

27,500

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

35,701

21,374

Taxation and social security

4,693

192

Accruals and deferred income

8,231

1,476

Other creditors

171,535

179,658

220,160

202,700