Company Registration No. 12427399 (England and Wales)
Shoreham Health Shop Ltd
Unaudited accounts
for the year ended 31 December 2023
Shoreham Health Shop Ltd
Unaudited accounts
Contents
Shoreham Health Shop Ltd
Company Information
for the year ended 31 December 2023
Director
Leonard John Glenville
Company Number
12427399 (England and Wales)
Registered Office
33 East Street
Shoreham-by-Sea
West Sussex
BN43 5ZD
Shoreham Health Shop Ltd
Statement of financial position
as at 31 December 2023
Intangible assets
-
28,746
Cash at bank and in hand
12,455
12,616
Creditors: amounts falling due within one year
(82,224)
(76,683)
Net current liabilities
(43,250)
(43,142)
Total assets less current liabilities
(43,250)
(14,396)
Creditors: amounts falling due after more than one year
(35,484)
(38,681)
Net liabilities
(78,734)
(53,077)
Called up share capital
2
2
Profit and loss account
(78,736)
(53,079)
Shareholders' funds
(78,734)
(53,077)
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 August 2024 and were signed on its behalf by
Leonard John Glenville
Director
Company Registration No. 12427399
Shoreham Health Shop Ltd
Notes to the Accounts
for the year ended 31 December 2023
Shoreham Health Shop Ltd is a private company, limited by shares, registered in England and Wales, registration number 12427399. The registered office is 33 East Street, Shoreham-by-Sea, West Sussex, BN43 5ZD.
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The company is supported by the directors and other companies in the group; therefore, the accounts have been prepared on a going concern basis.
Revenue, described as turnover, is the value of goods sold to customers during the year, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Intangible assets are amortised on a straight line basis over a useful economic life of 6 years. Any movements in fair value are recognised in arriving at the profit before tax.
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock to its present location and condition.
A "first in first out" basis is used. Borrowing costs are not capitalised. Where consignment stock is in substance an asset of the company, it is recognised as such on the balance sheet.
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in independently administered funds. The pension costs charge represents contributions payable for the period by the company to the fund.
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the fair value of the asset concerned.
The corresponding liability to the leasing company is included as an obligation under finance leases. Depreciation is charged to the profit and loss account over the shorter of the lease term and their useful lives. Leasing payments are treated as consisting of capital and interest elements, and interest is charged to the profit and loss account on a straight line basis which is considered to be a reasonable approximation to a constant rate of charge on the outstanding balance.
Shoreham Health Shop Ltd
Notes to the Accounts
for the year ended 31 December 2023
3
Intangible fixed assets
Goodwill
At 31 December 2023
52,931
Charge for the year
28,746
At 31 December 2023
52,931
At 31 December 2022
28,746
Amounts falling due within one year
Amounts due from group undertakings etc.
9,550
6,225
5
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,556
5,556
Trade creditors
38,787
39,483
Amounts owed to group undertakings and other participating interests
16,158
10,239
Taxes and social security
16,920
13,831
Other creditors
1,803
3,783
Loans from directors
-
1,053
6
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
13,500
13,500
Shoreham Health Shop Ltd
Notes to the Accounts
for the year ended 31 December 2023
7
Transactions with related parties
The following material transactions with related parties have not been conducted under normal market conditions:
The amounts owed by group undertakings of £9,550 (2022: £6,225) comprise loans to a subsidiary, Organic Health Shop Ltd. This balance is repayable on demand and is not chargeable to interest.
The amounts owed to group undertakings of £16,158 (2022: £10,239) comprise various loans and advances secured under cross guarantees. These balance due are repayable on demand and are not chargeable to interest.
A total of £2,811 (2022: £0) owed by the company to subsidiary companies, was written off in the year.
The company is a subsidiary, however, no consolidated financial statements are prepared for any group within which the company is a member.
9
Average number of employees
During the year the average number of employees was 6 (2022: 6).