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REGISTERED NUMBER: 07764798 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 SEPTEMBER 2023

FOR

CORNERSHOP (LEEDS) LTD

CORNERSHOP (LEEDS) LTD (REGISTERED NUMBER: 07764798)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORNERSHOP (LEEDS) LTD

COMPANY INFORMATION
for the year ended 29 September 2023







DIRECTORS: S S Bhogal
S Bhogal
Mrs A K Bhogal





REGISTERED OFFICE: 2 - 4 Chandos Gardens
Roundhay
Leeds
LS8 1LW





REGISTERED NUMBER: 07764798 (England and Wales)





ACCOUNTANTS: J S White & Co Limited
25-29 Sandy Way
Yeadon
Leeds
LS19 7EW

CORNERSHOP (LEEDS) LTD (REGISTERED NUMBER: 07764798)

BALANCE SHEET
29 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,580 8,569
8,580 8,569

CURRENT ASSETS
Stocks 10,225 24,127
Debtors 6 55,776 17,467
Cash at bank and in hand 12,215 71,988
78,216 113,582
CREDITORS
Amounts falling due within one year 7 44,061 68,830
NET CURRENT ASSETS 34,155 44,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,735

53,321

CREDITORS
Amounts falling due after more than one
year

8

38,782

43,713
NET ASSETS 3,953 9,608

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 3,923 9,578
SHAREHOLDERS' FUNDS 3,953 9,608

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 September 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.

CORNERSHOP (LEEDS) LTD (REGISTERED NUMBER: 07764798)

BALANCE SHEET - continued
29 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 Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:





S S Bhogal - Director


CORNERSHOP (LEEDS) LTD (REGISTERED NUMBER: 07764798)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 September 2023

1. STATUTORY INFORMATION

Cornershop (Leeds) Ltd 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 0, is being amortised evenly over its estimated useful life of nil 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.

Franchise Fee are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% 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.

CORNERSHOP (LEEDS) LTD (REGISTERED NUMBER: 07764798)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 September 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 30 September 2022
and 29 September 2023 180,000 4,000 184,000
AMORTISATION
At 30 September 2022
and 29 September 2023 180,000 4,000 184,000
NET BOOK VALUE
At 29 September 2023 - - -
At 29 September 2022 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 30 September 2022 7,250 17,834 1,995 27,079
Additions - 2,000 724 2,724
At 29 September 2023 7,250 19,834 2,719 29,803
DEPRECIATION
At 30 September 2022 2,393 15,018 1,099 18,510
Charge for year 1,214 964 535 2,713
At 29 September 2023 3,607 15,982 1,634 21,223
NET BOOK VALUE
At 29 September 2023 3,643 3,852 1,085 8,580
At 29 September 2022 4,857 2,816 896 8,569

CORNERSHOP (LEEDS) LTD (REGISTERED NUMBER: 07764798)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,308 -
Other debtors 44,468 17,467
55,776 17,467

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,040 13,347
Trade creditors 1,297 16,996
Taxation and social security 19,194 14,667
Other creditors 4,530 23,820
44,061 68,830

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 38,782 43,713