Registered number
06128169
Claverdon Community Shop Limited
Filleted Accounts
31 December 2023
Claverdon Community Shop Limited
Registered number: 06128169
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 32,197 37,425
Current assets
Stocks 4,000 4,000
Debtors 4 2,342 2,844
Cash at bank and in hand 18,189 17,086
24,531 23,930
Creditors: amounts falling due within one year 5 (1,893) (3,387)
Net current assets 22,638 20,543
Net assets 54,835 57,968
Capital and reserves
Profit and loss account 54,835 57,968
Reserves 54,835 57,968
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M.P.Rack
Director
Approved by the board on 07 February 2024
Claverdon Community Shop Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Short term leasehold property improvement 5% straight line
Plant and machinery 5% straight line
Fixtures, fittings and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The company has obtained exemption from HMRC in respect of corporation tax, it being a company not carrying on a business for the purpose of making a profit. DIRT tax is payable on any interest income received in excess of £32.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Short term leasehold property improvement Plant and machinery etc Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 January 2023 78,016 22,550 22,986 123,552
At 31 December 2023 78,016 22,550 22,986 123,552
Depreciation
At 1 January 2023 51,468 12,468 22,191 86,127
Charge for the year 3,900 1,129 199 5,228
At 31 December 2023 55,368 13,597 22,390 91,355
Net book value
At 31 December 2023 22,648 8,953 596 32,197
At 31 December 2022 26,548 10,082 795 37,425
4 Debtors 2023 2022
£ £
Trade debtors 1,363 1,482
Other debtors 979 1,362
2,342 2,844
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,348 2,592
Taxation and social security costs 545 795
1,893 3,387
6 Other information
Claverdon Community Shop Limited is limited by guarantee and has no share capital and is incorporated in England. Its registered office is:
Dorothea Mitchell Hall
Station Road
Claverdon
Warwick
CV35 8PH
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