IRIS Accounts Production v23.3.1.45 08100330 Board of Directors 1.5.22 30.4.23 30.4.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081003302022-04-30081003302023-04-30081003302022-05-012023-04-30081003302021-04-30081003302021-05-012022-04-30081003302022-04-3008100330ns10:Originalns15:EnglandWales2022-05-012023-04-3008100330ns14:PoundSterlingns10:Original2022-05-012023-04-3008100330ns10:Originalns10:Director12022-05-012023-04-3008100330ns10:Original2022-05-012023-04-3008100330ns10:Original2023-04-3008100330ns10:Originalns10:PrivateLimitedCompanyLtd2022-05-012023-04-3008100330ns10:Originalns10:SmallEntities2022-05-012023-04-3008100330ns10:Originalns10:AuditExempt-NoAccountantsReport2022-05-012023-04-3008100330ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3008100330ns10:SmallCompaniesRegimeForAccountsns10:Original2022-05-012023-04-3008100330ns10:Originalns10:FullAccounts2022-05-012023-04-3008100330ns10:Originalns10:OrdinaryShareClass12022-05-012023-04-3008100330ns10:Originalns10:Director22022-05-012023-04-3008100330ns10:Originalns10:RegisteredOffice2022-05-012023-04-3008100330ns10:Original2022-04-3008100330ns10:Originalns5:CurrentFinancialInstruments2023-04-3008100330ns10:Originalns5:CurrentFinancialInstruments2022-04-3008100330ns10:Originalns5:Non-currentFinancialInstruments2023-04-3008100330ns10:Originalns5:Non-currentFinancialInstruments2022-04-3008100330ns5:ShareCapitalns10:Original2023-04-3008100330ns5:ShareCapitalns10:Original2022-04-3008100330ns10:Originalns5:RevaluationReserve2023-04-3008100330ns10:Originalns5:RevaluationReserve2022-04-3008100330ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-04-3008100330ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-3008100330ns10:Original2021-05-012022-04-3008100330ns10:Originalns5:LandBuildings2022-04-3008100330ns10:Originalns5:FurnitureFittings2022-04-3008100330ns10:Originalns5:MotorVehicles2022-04-3008100330ns10:Original2022-04-3008100330ns10:Originalns5:LandBuildings2022-05-012023-04-3008100330ns10:Originalns5:FurnitureFittings2022-05-012023-04-3008100330ns10:Originalns5:MotorVehicles2022-05-012023-04-3008100330ns10:Originalns5:LandBuildings2023-04-3008100330ns10:Originalns5:FurnitureFittings2023-04-3008100330ns10:Originalns5:MotorVehicles2023-04-3008100330ns10:Originalns5:LandBuildings2022-04-3008100330ns10:Originalns5:FurnitureFittings2022-04-3008100330ns10:Originalns5:MotorVehicles2022-04-3008100330ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3008100330ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-04-3008100330ns5:Securedns10:Original2023-04-3008100330ns5:Securedns10:Original2022-04-3008100330ns10:Originalns10:OrdinaryShareClass12023-04-30
REGISTERED NUMBER: 08100330 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

SAMUEL & CO TRADING LIMITED

SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAMUEL & CO TRADING LIMITED

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr S Leach
Mr M J J Wright





REGISTERED OFFICE: 1st Floor, Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX





REGISTERED NUMBER: 08100330 (England and Wales)





ACCOUNTANTS: Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)

Statement of Financial Position
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,178,921 1,167,402

CURRENT ASSETS
Debtors 5 249,701 250,521
Cash at bank 831,853 906,158
1,081,554 1,156,679
CREDITORS
Amounts falling due within one year 6 (264,546 ) (475,751 )
NET CURRENT ASSETS 817,008 680,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,995,929

1,848,330

CREDITORS
Amounts falling due after more than one
year

7

(480,568

)

(507,565

)

PROVISIONS FOR LIABILITIES (8,335 ) (1,496 )
NET ASSETS 1,507,026 1,339,269

CAPITAL AND RESERVES
Called up share capital 9 10 10
Revaluation reserve 10 20,527 -
Retained earnings 1,486,489 1,339,259
SHAREHOLDERS' FUNDS 1,507,026 1,339,269

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)

Statement of Financial Position - continued
30 April 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





Mr S Leach - Director


SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Samuel & Co Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 33.33% on cost
Motor vehicle - 20% on cost

SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 May 2022 1,066,361 32,310 114,673 1,213,344
Additions 6,283 10,081 - 16,364
Revaluations 27,356 - - 27,356
At 30 April 2023 1,100,000 42,391 114,673 1,257,064
DEPRECIATION
At 1 May 2022 - 23,007 22,935 45,942
Charge for year - 9,201 23,000 32,201
At 30 April 2023 - 32,208 45,935 78,143
NET BOOK VALUE
At 30 April 2023 1,100,000 10,183 68,738 1,178,921
At 30 April 2022 1,066,361 9,303 91,738 1,167,402

The property was valued on an open market basis on 30 April 2023 by the directors.

SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other debtors 249,701 250,521

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 50,462 67,677
Hire purchase contracts 14,294 16,743
Trade creditors 8,623 16,105
Taxation and social security 184,446 295,641
Other creditors 6,721 79,585
264,546 475,751

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 408,922 419,636
Hire purchase contracts 71,646 87,929
480,568 507,565

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank loans 459,384 487,313

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
10 Ordinary £1 10 10

10. RESERVES
Revaluation
reserve
£   
Movement in reserves 20,527

At 30 April 2023 20,527

SAMUEL & CO TRADING LIMITED (REGISTERED NUMBER: 08100330)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Leach.