Bryn Stores Community Shop Limited 04912301 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Wholesale of fruit and vegetables and retail sale in non-specialised stores with food, beverages or tobacco predominating Digita Accounts Production Advanced 6.30.9574.0 Software true true 04912301 2022-03-01 2023-02-28 04912301 2023-02-28 04912301 core:RetainedEarningsAccumulatedLosses 2023-02-28 04912301 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04912301 core:OfficeEquipment 2023-02-28 04912301 bus:SmallEntities 2022-03-01 2023-02-28 04912301 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04912301 bus:FullAccounts 2022-03-01 2023-02-28 04912301 bus:RegisteredOffice 2022-03-01 2023-02-28 04912301 bus:Director1 2022-03-01 2023-02-28 04912301 bus:Director2 2022-03-01 2023-02-28 04912301 bus:Director3 2022-03-01 2023-02-28 04912301 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04912301 core:OfficeEquipment 2022-03-01 2023-02-28 04912301 countries:AllCountries 2022-03-01 2023-02-28 04912301 2022-02-28 04912301 core:OfficeEquipment 2022-02-28 04912301 2021-03-01 2022-02-28 04912301 2022-02-28 04912301 core:RetainedEarningsAccumulatedLosses 2022-02-28 04912301 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 04912301 core:OfficeEquipment 2022-02-28 iso4217:GBP xbrli:pure

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Registration number: 04912301

Bryn Stores Community Shop Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Bryn Stores Community Shop Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Bryn Stores Community Shop Limited

Company Information

Directors

Mr S P Harding

Mr A Tattersal

Mrs D Lanchester

Registered office

Forestry Cottage
Brechfa
Carmarthen
SA32 7RB

 

Bryn Stores Community Shop Limited

(Registration number: 04912301)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

275

367

Current assets

 

Stocks

6

16,907

16,182

Cash at bank and in hand

 

214,590

177,703

 

231,497

193,885

Creditors: Amounts falling due within one year

7

(15,161)

(8,556)

Net current assets

 

216,336

185,329

Net assets

 

216,611

185,696

Capital and reserves

 

Profit and loss account

216,611

185,696

Total equity

 

216,611

185,696

For the financial year ending 28 February 2023 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 January 2024 and signed on its behalf by:
 

.........................................
Mr S P Harding
Director

.........................................
Mr A Tattersal
Director

.........................................
Mrs D Lanchester
Director

     
 

Bryn Stores Community Shop Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

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:
Forestry Cottage
Brechfa
Carmarthen
SA32 7RB

These financial statements were authorised for issue by the Board on 30 January 2024.

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.

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.

 

Bryn Stores Community Shop Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

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

Office Equipment

Reducing balance 25%

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.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

91

-

 

Bryn Stores Community Shop Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 March 2022

367

367

At 28 February 2023

367

367

Depreciation

Charge for the year

92

92

At 28 February 2023

92

92

Carrying amount

At 28 February 2023

275

275

At 28 February 2022

367

367

6

Stocks

2023
£

2022
£

Other inventories

16,907

16,182

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

474

4,532

Taxation and social security

 

465

286

Corporation tax liability

 

7,273

3,738

Other creditors

 

6,949

-

 

15,161

8,556