CORNER HOUSE RETAIL LIMITED

Company Registration Number:
06046893 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

CORNER HOUSE RETAIL LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

CORNER HOUSE RETAIL LIMITED

Company Information

for the Period Ended 31 January 2024




Director: Linda Ellis
Sean Ellis
Registered office: The Corner House
27 High Street
Rye
East Sussex
TN31 7JF
Company Registration Number: 06046893 (England and Wales)

CORNER HOUSE RETAIL LIMITED

Directors' Report Period Ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Principal Activities

Retail Sales

Directors

The directors shown below have held office during the whole of the period from 01 February 2023 to 31 January 2024
Linda Ellis
Sean Ellis

This report was approved by the board of directors on 6 February 2024
And Signed On Behalf Of The Board By:

Name: Sean Ellis
Status: Director

CORNER HOUSE RETAIL LIMITED

Profit and Loss Account

for the Period Ended 31 January 2024


Notes

2024
£

2023
£
Turnover 115,373 124,945
Cost of sales ( 54,848 ) ( 53,963 )
Gross Profit or (Loss) 60,525 71,271
Income from coronavirus (COVID-19) business support grants - 289
Distribution Costs - ( 89 )
Administrative Expenses ( 68,624 ) ( 80,704 )
Operating Profit or (Loss) ( 8,099 ) ( 9,522 )
Profit or (Loss) Before Tax ( 8,099 ) ( 9,522 )
Profit or (Loss) for Period ( 8,099 ) ( 9,522 )

The notes form part of these financial statements

CORNER HOUSE RETAIL LIMITED

Balance sheet

As at 31 January 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 14,240 18,986
Tangible assets: 5 1,309 1,549
Total fixed assets: 15,549 20,535
Current assets
Stocks: 84,757 94,242
Debtors: 6 17 17
Cash at bank and in hand: 13,658 10,607
Total current assets: 98,432 104,866
Prepayments and accrued income: 1 1
Creditors: amounts falling due within one year: 7 ( 3,421 ) ( 3,251 )
Net current assets (liabilities): 95,012 101,616
Total assets less current liabilities: 110,561 122,151
Creditors: amounts falling due after more than one year: 8 ( 78,190 ) ( 81,681 )
Total net assets (liabilities): 32,371 40,470

The notes form part of these financial statements

CORNER HOUSE RETAIL LIMITED

Balance sheet continued

As at 31 January 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 144 144
Profit and loss account: 32,227 40,326
Shareholders funds: 32,371 40,470

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 6 February 2024
And Signed On Behalf Of The Board By:

Name: Sean Ellis
Status: Director

The notes form part of these financial statements

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following rates to write off each asset over its estimated useful life.
    Computer and office equipment - 33.3% p.a. on cost - straight line.
    Fixture and fittings - 15% p.a. on reducing balance.

    Intangible fixed assets amortisation policy

    Amortisation of acquired goodwill - straight line over 20 years.

    Valuation information and policy

    Stocks are valued at lower of cost and net realizable value, after making due allowances for obsolete and slow moving items.

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 3 3

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 3. Off balance sheet disclosure

    No

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Intangible assets

Goodwill Total
Cost £ £
At 01 February 2023 94,931 94,931
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 January 2024 94,931 94,931
Amortisation
Amortisation at 01 February 2023 75,945 75,945
Charge for year 4,746 4,746
On disposals - -
Other adjustments - -
Amortisation at 31 January 2024 80,691 80,691
Net book value
Net book value at 31 January 2024 14,240 14,240
Net book value at 31 January 2023 18,986 18,986

Purchased Goodwill

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Tangible assets

Fixtures & fittings Total
Cost £ £
At 01 February 2023 18,117 18,117
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 January 2024 18,117 18,117
Depreciation
At 01 February 2023 16,568 16,568
Charge for year 240 240
On disposals - -
Other adjustments - -
At 31 January 2024 16,808 16,808
Net book value
At 31 January 2024 1,309 1,309
At 31 January 2023 1,549 1,549

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Debtors


2024
£

2023
£
Trade debtors 17 17
Total 17 17

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Taxation and social security 3,421 3,251
Total 3,421 3,251

CORNER HOUSE RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

8.Creditors: amounts falling due after more than one year


2024
£

2023
£
Other creditors 78,190 81,681
Total 78,190 81,681

On 1 February 2007 Mr and Mrs Ellis, directors, sold the business of The Corner House (previously run as a partnership) to the company. The purchase price was £195,317 which comprised of £94,932 for Goodwill, £96,921 for stock and £3,464 for fixtures, fittings and equipment. This was credited to the director's loan account. As of 31 January 2024 the company owed Mr and Mrs Ellis £78,190 and this is included within other creditors.