Company Registration No. 14504305 (England and Wales)
Cmart Stores Ltd
Unaudited accounts
for the period from 24 November 2022 to 30 November 2023
Cmart Stores Ltd
Statement of financial position
as at 30 November 2023
Cash at bank and in hand
24,303
Creditors: amounts falling due within one year
(85,279)
Net current liabilities
(9,047)
Called up share capital
100
Capital contribution reserve
24,000
Profit and loss account
2,305
Shareholders' funds
26,405
For the period ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by
Abin Baby
Director
Company Registration No. 14504305
Cmart Stores Ltd
Notes to the Accounts
for the period from 24 November 2022 to 30 November 2023
Cmart Stores Ltd is a private company, limited by shares, registered in England and Wales, registration number 14504305. The registered office is 36 Kingsley Park Terrace, Northampton, NN2 7HG, England.
2
Compliance with accounting standards
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 principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates to write off the assets over their estimated useful lives:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate , or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.
Plant & Machinery: Depreciation is charged on straight-line method and allocated the cost of asset less residual value over their estimated useful life. Useful life of the asset is estimated as 5 years and depreciated at 20%
Fixtures & Fittings: Depreciation is charged on straight-line method and allocated the cost of asset less residual value over their estimated useful life. Useful life of the asset is estimated as 5 years and depreciated at 20%
Computer Equipment: Depreciation is charged on straight-line method and allocated the cost of asset less residual value over their estimated useful life. Useful life of the asset is estimated as 5 years and depreciated at 20%
Turnover is measured at the fair value of the consideration received or receivable, 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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cmart Stores Ltd
Notes to the Accounts
for the period from 24 November 2022 to 30 November 2023
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 24 November 2022
-
-
-
-
Additions
20,230
14,300
7,470
42,000
At 30 November 2023
20,230
14,300
7,470
42,000
Charge for the period
3,076
2,290
1,182
6,548
At 30 November 2023
3,076
2,290
1,182
6,548
At 30 November 2023
17,154
12,010
6,288
35,452
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
Bank loans and overdrafts
23,247
Taxes and social security
730
7
Average number of employees
During the period the average number of employees was 5.