Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr P Saunders 24/09/2012 Mrs N Saunders 24/09/2012 30 July 2024 The principal activity of the Company during the financial year is that of convenience stores. 08226600 2024-04-30 08226600 bus:Director1 2024-04-30 08226600 bus:Director2 2024-04-30 08226600 2023-04-30 08226600 core:CurrentFinancialInstruments 2024-04-30 08226600 core:CurrentFinancialInstruments 2023-04-30 08226600 core:Non-currentFinancialInstruments 2024-04-30 08226600 core:Non-currentFinancialInstruments 2023-04-30 08226600 core:ShareCapital 2024-04-30 08226600 core:ShareCapital 2023-04-30 08226600 core:RetainedEarningsAccumulatedLosses 2024-04-30 08226600 core:RetainedEarningsAccumulatedLosses 2023-04-30 08226600 core:Goodwill 2023-04-30 08226600 core:Goodwill 2024-04-30 08226600 core:LandBuildings 2023-04-30 08226600 core:Vehicles 2023-04-30 08226600 core:FurnitureFittings 2023-04-30 08226600 core:LandBuildings 2024-04-30 08226600 core:Vehicles 2024-04-30 08226600 core:FurnitureFittings 2024-04-30 08226600 bus:OrdinaryShareClass1 2024-04-30 08226600 bus:OrdinaryShareClass2 2024-04-30 08226600 2023-05-01 2024-04-30 08226600 bus:FilletedAccounts 2023-05-01 2024-04-30 08226600 bus:SmallEntities 2023-05-01 2024-04-30 08226600 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08226600 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08226600 bus:Director1 2023-05-01 2024-04-30 08226600 bus:Director2 2023-05-01 2024-04-30 08226600 core:Goodwill core:TopRangeValue 2023-05-01 2024-04-30 08226600 core:LandBuildings core:TopRangeValue 2023-05-01 2024-04-30 08226600 core:Vehicles 2023-05-01 2024-04-30 08226600 core:FurnitureFittings 2023-05-01 2024-04-30 08226600 2022-05-01 2023-04-30 08226600 core:Goodwill 2023-05-01 2024-04-30 08226600 core:LandBuildings 2023-05-01 2024-04-30 08226600 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 08226600 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 08226600 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 08226600 bus:OrdinaryShareClass2 2023-05-01 2024-04-30 08226600 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08226600 (England and Wales)

SAUNDERS STORES LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

SAUNDERS STORES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

SAUNDERS STORES LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
SAUNDERS STORES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Mr P Saunders
Mrs N Saunders
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
BUSINESS ADDRESS 38 Victoria Street
Exeter
Devon
EX4 6JQ
COMPANY NUMBER 08226600 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
SAUNDERS STORES LIMITED

BALANCE SHEET

As at 30 April 2024
SAUNDERS STORES LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 51,000 68,000
Tangible assets 4 419,086 427,160
470,086 495,160
Current assets
Stocks 92,500 95,000
Debtors 5 55,988 10,810
Cash at bank and in hand 6,874 9,666
155,362 115,476
Creditors: amounts falling due within one year 6 ( 197,953) ( 171,925)
Net current liabilities (42,591) (56,449)
Total assets less current liabilities 427,495 438,711
Creditors: amounts falling due after more than one year 7 ( 233,832) ( 274,521)
Provision for liabilities ( 16,653) ( 17,724)
Net assets 177,010 146,466
Capital and reserves
Called-up share capital 8 200 200
Profit and loss account 176,810 146,266
Total shareholders' funds 177,010 146,466

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Saunders Stores Limited (registered number: 08226600) were approved and authorised for issue by the Board of Directors on 30 July 2024. They were signed on its behalf by:

Mr P Saunders
Director
Mr P Saunders
Director
SAUNDERS STORES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
SAUNDERS STORES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Saunders Stores Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is 38 Victoria Street, Exeter, Devon, EX4 6JQ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 25 years straight line
Vehicles 15 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 17

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 320,000 320,000
At 30 April 2024 320,000 320,000
Accumulated amortisation
At 01 May 2023 252,000 252,000
Charge for the financial year 17,000 17,000
At 30 April 2024 269,000 269,000
Net book value
At 30 April 2024 51,000 51,000
At 30 April 2023 68,000 68,000

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2023 391,009 24,995 124,308 540,312
Additions 0 0 5,398 5,398
At 30 April 2024 391,009 24,995 129,706 545,710
Accumulated depreciation
At 01 May 2023 23,463 13,905 75,784 113,152
Charge for the financial year 3,910 1,663 7,899 13,472
At 30 April 2024 27,373 15,568 83,683 126,624
Net book value
At 30 April 2024 363,636 9,427 46,023 419,086
At 30 April 2023 367,546 11,090 48,524 427,160

5. Debtors

2024 2023
£ £
Trade debtors 7,000 7,000
Other debtors 48,988 3,810
55,988 10,810

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 69,575 43,883
Trade creditors 59,319 65,864
Taxation and social security 56,858 49,113
Obligations under finance leases and hire purchase contracts 0 1,083
Other creditors 12,201 11,982
197,953 171,925

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

2024 2023
£ £
Bank loans 222,643 261,110
Other creditors 11,189 13,411
233,832 274,521

Security is given for loans and borrowings by a charge held over the fixed assets of the company as well as a personal guarantee from the directors.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
100 Ordinary A shares of £ 1.00 each 100 100
200 200

9. Financial commitments

Other financial commitments

2024 2023
£ £
Commitments in relation to vehicle lease 9,932 0

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Advances to the directors. Interest is charged at HMRC's official rate 45,287 219