IRIS Accounts Production v24.1.9.2 09182036 Board of Directors 31.10.22 30.10.23 30.10.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh091820362022-10-30091820362023-10-30091820362022-10-312023-10-30091820362021-10-31091820362021-11-012022-10-30091820362022-10-3009182036ns15:EnglandWales2022-10-312023-10-3009182036ns14:PoundSterling2022-10-312023-10-3009182036ns10:Director12022-10-312023-10-3009182036ns10:PrivateLimitedCompanyLtd2022-10-312023-10-3009182036ns10:SmallEntities2022-10-312023-10-3009182036ns10:AuditExempt-NoAccountantsReport2022-10-312023-10-3009182036ns10:SmallCompaniesRegimeForAccounts2022-10-312023-10-3009182036ns10:FullAccounts2022-10-312023-10-3009182036ns10:OrdinaryShareClass12022-10-312023-10-3009182036ns10:Director22022-10-312023-10-3009182036ns10:RegisteredOffice2022-10-312023-10-3009182036ns5:CurrentFinancialInstruments2023-10-3009182036ns5:CurrentFinancialInstruments2022-10-3009182036ns5:Non-currentFinancialInstruments2023-10-3009182036ns5:Non-currentFinancialInstruments2022-10-3009182036ns5:ShareCapital2023-10-3009182036ns5:ShareCapital2022-10-3009182036ns5:RetainedEarningsAccumulatedLosses2023-10-3009182036ns5:RetainedEarningsAccumulatedLosses2022-10-3009182036ns5:LandBuildings2022-10-3009182036ns5:FurnitureFittings2022-10-3009182036ns5:MotorVehicles2022-10-3009182036ns5:ComputerEquipment2022-10-3009182036ns5:LandBuildings2022-10-312023-10-3009182036ns5:FurnitureFittings2022-10-312023-10-3009182036ns5:MotorVehicles2022-10-312023-10-3009182036ns5:ComputerEquipment2022-10-312023-10-3009182036ns5:LandBuildings2023-10-3009182036ns5:FurnitureFittings2023-10-3009182036ns5:MotorVehicles2023-10-3009182036ns5:ComputerEquipment2023-10-3009182036ns5:LandBuildings2022-10-3009182036ns5:FurnitureFittings2022-10-3009182036ns5:MotorVehicles2022-10-3009182036ns5:ComputerEquipment2022-10-3009182036ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3009182036ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3009182036ns10:OrdinaryShareClass12023-10-30
REGISTERED NUMBER: 09182036 (England and Wales)









LAILNA STORES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2023






LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAILNA STORES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 OCTOBER 2023







DIRECTORS: A Singh
Mrs L Kaur





REGISTERED OFFICE: Nisa Local
1 Vere Street
Barry
SOUTH GLAMORGAN
CF63 2HX





REGISTERED NUMBER: 09182036 (England and Wales)






LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)

BALANCE SHEET
30 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 402,308 384,386

CURRENT ASSETS
Stocks 5 325,307 213,956
Debtors 6 434,588 415,743
Cash at bank and in hand 95,767 104,850
855,662 734,549
CREDITORS
Amounts falling due within one year 7 379,841 318,293
NET CURRENT ASSETS 475,821 416,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

878,129

800,642

CREDITORS
Amounts falling due after more than one
year

8

191,722

220,225
NET ASSETS 686,407 580,417

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 686,307 580,317
SHAREHOLDERS' FUNDS 686,407 580,417

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 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.

LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)

BALANCE SHEET - continued
30 OCTOBER 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 25 July 2024 and were signed on its behalf by:





A Singh - Director


LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)

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

1. STATUTORY INFORMATION

Lailna 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.

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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with his continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the services provided to the customer during the normal course of business. Turnover is recognised at the point when all benefits of the services provided are transferred to the customer.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are 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 trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions are recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised with deferred income.

LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:

Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the estimated selling price less costs to complete and sell, 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.

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.

LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 31 October 2022 306,604 65,072 49,659 1,752 423,087
Additions 16,912 10,738 2,250 3,798 33,698
At 30 October 2023 323,516 75,810 51,909 5,550 456,785
DEPRECIATION
At 31 October 2022 - 17,404 20,657 640 38,701
Charge for year - 7,252 7,673 851 15,776
At 30 October 2023 - 24,656 28,330 1,491 54,477
NET BOOK VALUE
At 30 October 2023 323,516 51,154 23,579 4,059 402,308
At 30 October 2022 306,604 47,668 29,002 1,112 384,386

5. STOCKS
2023 2022
£    £   
Stocks 325,307 213,956

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 3,534 8,503
Intercompany balances 431,054 407,240
434,588 415,743

LAILNA STORES LIMITED (REGISTERED NUMBER: 09182036)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 67,805 156,830
Taxation and social security 166,373 60,741
Other creditors 145,663 100,722
379,841 318,293

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 191,722 220,225

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. SECURED DEBTS

The company's bank (National Westminister Bank PLC) holds security of the property at 1 Vere Street, Barry, CF63 2HX.

11. TRANSACTIONS WITH DIRECTORS

At the reporting date the company owed £68,576 (2022 : £56,357), to the directors of the company. This balance is included within creditors amounts falling due within one year.

The directors operate an interest free loan account with the company which is repayable on demand.