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REGISTERED NUMBER: 10354117 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

SPRINGFIELD STORES LIMITED

SPRINGFIELD STORES LIMITED (REGISTERED NUMBER: 10354117)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRINGFIELD STORES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: Mrs P K Shokker



REGISTERED OFFICE: 2-4 Springfield Close
Rowley Regis
West Midlands
B65 8JZ



REGISTERED NUMBER: 10354117 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Barclays Bank plc
47 High Street
Dudley
West Midlands
DY1 1PN

SPRINGFIELD STORES LIMITED (REGISTERED NUMBER: 10354117)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 79,750 89,417
Tangible assets 5 308,783 317,565
388,533 406,982

CURRENT ASSETS
Stocks 6 66,218 65,479
Debtors 7 17,455 22,079
Cash at bank and in hand 140,861 77,368
224,534 164,926
CREDITORS
Amounts falling due within one year 8 (348,699 ) (339,319 )
NET CURRENT LIABILITIES (124,165 ) (174,393 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,368

232,589

CREDITORS
Amounts falling due after more than one
year

9

(97,508

)

(115,765

)

PROVISIONS FOR LIABILITIES 12 (1,242 ) (1,485 )
NET ASSETS 165,618 115,339

CAPITAL AND RESERVES
Called up share capital 13 2 2
Retained earnings 14 165,616 115,337
SHAREHOLDERS' FUNDS 165,618 115,339

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

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

The director acknowledges her 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.

SPRINGFIELD STORES LIMITED (REGISTERED NUMBER: 10354117)

BALANCE SHEET - continued
30 SEPTEMBER 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 director and authorised for issue on 2 March 2024 and were signed by:





Mrs P K Shokker - Director


SPRINGFIELD STORES LIMITED (REGISTERED NUMBER: 10354117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Springfield Stores 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures, fittings & equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

SPRINGFIELD STORES LIMITED (REGISTERED NUMBER: 10354117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 145,000
AMORTISATION
At 1 October 2022 55,583
Amortisation for year 9,667
At 30 September 2023 65,250
NET BOOK VALUE
At 30 September 2023 79,750
At 30 September 2022 89,417

5. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings Motor
property & equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 350,000 6,553 7,000 363,553
DEPRECIATION
At 1 October 2022 40,250 3,125 2,613 45,988
Charge for year 7,000 685 1,097 8,782
At 30 September 2023 47,250 3,810 3,710 54,770
NET BOOK VALUE
At 30 September 2023 302,750 2,743 3,290 308,783
At 30 September 2022 309,750 3,428 4,387 317,565

6. STOCKS
2023 2022
£    £   
Stocks 66,218 65,479

SPRINGFIELD STORES LIMITED (REGISTERED NUMBER: 10354117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 194
Other debtors 1,277 1,277
VAT 16,178 20,608
17,455 22,079

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 19,373 20,284
Trade creditors 17,728 12,680
Corporation tax 17,763 11,586
Other creditors 2,470 147,470
Directors' loan accounts 289,573 144,736
Accruals and deferred income 1,792 2,563
348,699 339,319

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 97,508 115,765

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,215 33,830

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 19,373 20,284

Amounts falling due between one and two years:
Bank loans - 1-2 years 19,773 20,484

Amounts falling due between two and five years:
Bank loans - 2-5 years 60,520 61,451

Amounts falling due in more than five years:

SPRINGFIELD STORES LIMITED (REGISTERED NUMBER: 10354117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


10. LOANS - continued
2023 2022
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 17,215 33,830

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 116,881 136,049

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,242 1,485

Deferred
tax
£   
Balance at 1 October 2022 1,485
Credited during the year (243 )
Balance at 30 September 2023 1,242

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

14. RESERVES
Retained
earnings
£   

At 1 October 2022 115,337
Profit for the year 50,279
At 30 September 2023 165,616

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 30 September 2023, there was a loan from Mrs P K Shokker of £289,573 (2022: £144,736). This unsecured loan is interest free and repayable on demand.