11 31/05/2023 2023-05-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-06-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07178325 2022-06-01 2023-05-31 07178325 2023-05-31 07178325 2022-05-31 07178325 2021-06-01 2022-05-31 07178325 2022-05-31 07178325 2021-05-31 07178325 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 07178325 bus:RegisteredOffice 2022-06-01 2023-05-31 07178325 bus:LeadAgentIfApplicable 2022-06-01 2023-05-31 07178325 bus:Director1 2022-06-01 2023-05-31 07178325 core:LandBuildings core:ShortLeaseholdAssets 2022-05-31 07178325 core:FurnitureFittingsToolsEquipment 2022-05-31 07178325 core:LandBuildings core:ShortLeaseholdAssets 2023-05-31 07178325 core:FurnitureFittingsToolsEquipment 2023-05-31 07178325 core:WithinOneYear 2023-05-31 07178325 core:WithinOneYear 2022-05-31 07178325 core:ShareCapital 2023-05-31 07178325 core:ShareCapital 2022-05-31 07178325 core:RetainedEarningsAccumulatedLosses 2023-05-31 07178325 core:RetainedEarningsAccumulatedLosses 2022-05-31 07178325 core:LandBuildings core:ShortLeaseholdAssets 2022-06-01 2023-05-31 07178325 core:LandBuildings core:ShortLeaseholdAssets 2022-05-31 07178325 core:FurnitureFittingsToolsEquipment 2022-05-31 07178325 bus:SmallEntities 2022-06-01 2023-05-31 07178325 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 07178325 bus:FullAccounts 2022-06-01 2023-05-31 07178325 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 07178325 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 07178325 core:EntitiesControlledByKeyManagementPersonnel 2022-06-01 2023-05-31 07178325 core:EntitiesControlledByKeyManagementPersonnel 2021-06-01 2022-05-31 07178325 core:EntitiesControlledByKeyManagementPersonnel 2022-05-31
Company registration number: 07178325
SA Retail (Ruislip) Ltd
Unaudited filleted financial statements
31 May 2023
SA Retail (Ruislip) Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
SA Retail (Ruislip) Ltd
Directors and other information
Directors Mr V Yoganathan
Company number 07178325
Registered office 797 Harrow Road
Sudbury Town
Wembley
HA0 2LP
Business address 47-49 Victoria Road
Ruislip Manor
Middlesex
HA4 9AB
Accountants Accountancy Solutions
797 Harrow Road
Sudbury Town
Wembley
HA0 2LP
Bankers Barclays
1st Floor. Acorn House
36 - 38 Park Royal Road
London
NW10 7JA
SA Retail (Ruislip) Ltd
Statement of financial position
31 May 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 85,112 83,516
_______ _______
85,112 83,516
Current assets
Stocks 88,366 80,754
Debtors 6 9,842 8,291
Cash at bank and in hand 35,003 36,597
_______ _______
133,211 125,642
Creditors: amounts falling due
within one year 7 ( 189,079) ( 188,313)
_______ _______
Net current liabilities ( 55,868) ( 62,671)
_______ _______
Total assets less current liabilities 29,244 20,845
_______ _______
Net assets 29,244 20,845
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 29,144 20,745
_______ _______
Shareholders funds 29,244 20,845
_______ _______
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 February 2024 , and are signed on behalf of the board by:
Mr V Yoganathan
Director
Company registration number: 07178325
SA Retail (Ruislip) Ltd
Notes to the financial statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 797 Harrow Road, Sudbury Town, Wembley, HA0 2LP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Over the life of the lease
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 June 2022 43,810 279,692 323,502
Additions - 18,120 18,120
_______ _______ _______
At 31 May 2023 43,810 297,812 341,622
_______ _______ _______
Depreciation
At 1 June 2022 32,860 207,126 239,986
Charge for the year 2,921 13,603 16,524
_______ _______ _______
At 31 May 2023 35,781 220,729 256,510
_______ _______ _______
Carrying amount
At 31 May 2023 8,029 77,083 85,112
_______ _______ _______
At 31 May 2022 10,950 72,566 83,516
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 2,535 2,268
Other debtors 7,307 6,023
_______ _______
9,842 8,291
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 57,761 55,660
Corporation tax 1,208 1,061
Social security and other taxes 1,280 3,031
Other creditors 128,830 128,561
_______ _______
189,079 188,313
_______ _______
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2023 2022 2023 2022
£ £ £ £
JP & S Servicess Ltd 756 ( 756) - ( 756)
_______ _______ _______ _______
During the year, company had above loan transactions with JP & S services Ltd, a company under common control.
9. Controlling party
Mr V Yoganathan together with his wife controls the entire issued share capital of the compnay