Estate Stores Limited 05203643 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is convenience store Digita Accounts Production Advanced 6.30.9574.0 true true 05203643 2022-11-01 2023-10-31 05203643 2023-10-31 05203643 bus:OrdinaryShareClass1 2023-10-31 05203643 core:CurrentFinancialInstruments 2023-10-31 05203643 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 05203643 core:FurnitureFittings 2023-10-31 05203643 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-31 05203643 core:PlantMachinery 2023-10-31 05203643 bus:SmallEntities 2022-11-01 2023-10-31 05203643 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 05203643 bus:FilletedAccounts 2022-11-01 2023-10-31 05203643 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 05203643 bus:RegisteredOffice 2022-11-01 2023-10-31 05203643 bus:Director1 2022-11-01 2023-10-31 05203643 bus:Director2 2022-11-01 2023-10-31 05203643 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 05203643 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05203643 core:Goodwill 2022-11-01 2023-10-31 05203643 core:FurnitureFittings 2022-11-01 2023-10-31 05203643 core:LandBuildings core:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05203643 core:PlantMachinery 2022-11-01 2023-10-31 05203643 countries:England 2022-11-01 2023-10-31 05203643 2022-10-31 05203643 core:FurnitureFittings 2022-10-31 05203643 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 05203643 core:PlantMachinery 2022-10-31 05203643 2021-11-01 2022-10-31 05203643 2022-10-31 05203643 bus:OrdinaryShareClass1 2022-10-31 05203643 core:CurrentFinancialInstruments 2022-10-31 05203643 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 05203643 core:FurnitureFittings 2022-10-31 05203643 core:LandBuildings core:OwnedOrFreeholdAssets 2022-10-31 05203643 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05203643

Estate Stores Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2023

 

Estate Stores Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Estate Stores Limited

Company Information

Directors

Mr C J Richardson

Mrs T J Richardson

Registered office

487 Bramford Lane
Ipswich
Suffolk
IP1 5JQ

Accountants

Richardson & Co Accountants Limited
Chartered Certified Accountants
Cornish & Sussex Suite, House 3
Lynderswood Business Park
Lynderswood Lane
Black Notley
Essex
CM77 8JT

 

Estate Stores Limited

(Registration number: 05203643)
Abridged Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

5,000

5,000

Tangible assets

5

53,414

58,221

 

58,414

63,221

Current assets

 

Stocks

6

46,000

45,000

Debtors

7

1,895

2,930

Cash at bank and in hand

 

29,078

30,517

 

76,973

78,447

Creditors: Amounts falling due within one year

(47,772)

(64,553)

Net current assets

 

29,201

13,894

Total assets less current liabilities

 

87,615

77,115

Provisions for liabilities

(6,795)

-

Accruals and deferred income

 

(800)

-

Net assets

 

80,020

77,115

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

79,920

77,015

Shareholders' funds

 

80,020

77,115

For the financial year ending 31 October 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

 

Estate Stores Limited

(Registration number: 05203643)
Abridged Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 25 March 2024 and signed on its behalf by:
 

.........................................
Mr C J Richardson
Director

 

Estate Stores Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
487 Bramford Lane
Ipswich
Suffolk
IP1 5JQ

These financial statements were authorised for issue by the Board on 25 March 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 abridged 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 abridged 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 and deferred 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.

 

Estate Stores Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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:

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:

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Estate Stores Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

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.

Trade 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 17 (2022 - 17).

 

Estate Stores Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

4

Intangible assets

Total
£

Cost or valuation

At 1 November 2022

114,350

At 31 October 2023

114,350

Amortisation

At 1 November 2022

109,350

At 31 October 2023

109,350

Carrying amount

At 31 October 2023

5,000

At 31 October 2022

5,000

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

19,560

-

89,124

108,684

Additions

-

10,073

-

10,073

At 31 October 2023

19,560

10,073

89,124

118,757

Depreciation

At 1 November 2022

-

-

50,463

50,463

Charge for the year

-

1,511

13,369

14,880

At 31 October 2023

-

1,511

63,832

65,343

Carrying amount

At 31 October 2023

19,560

8,562

25,292

53,414

At 31 October 2022

19,560

-

38,661

58,221

Included within the net book value of land and buildings above is £19,560 (2022 - £19,560) in respect of freehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

46,000

45,000

 

Estate Stores Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Dividends

2023

2022

£

£

Interim dividend of £14,000.00 (2022 - £8,000.00) per ordinary share

14,000

8,000

 

 

10

Related party transactions

 

Estate Stores Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

25,080

21,280