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REGISTERED NUMBER: 07821416 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

ST MICHAELS STORES LIMITED

ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ST MICHAELS STORES LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2023







DIRECTORS: J A Entwistle
Mrs E A Entwistle





REGISTERED OFFICE: 19 North Street
Ashford
England
Kent
TN24 8LF





REGISTERED NUMBER: 07821416 (England and Wales)





ACCOUNTANTS: Calcutt Matthews WBZ Ltd
19 North Street
Ashford
Kent
TN24 8LF

ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

BALANCE SHEET
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,805 45,709

CURRENT ASSETS
Stocks 5 37,700 35,650
Debtors 6 7,160 -
Cash at bank and in hand 5,036 30,571
49,896 66,221
CREDITORS
Amounts falling due within one year 7 1,967 9,033
NET CURRENT ASSETS 47,929 57,188
TOTAL ASSETS LESS CURRENT LIABILITIES 100,734 102,897

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 100,733 102,896
SHAREHOLDERS' FUNDS 100,734 102,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 27 August 2024 and were signed on its behalf by:



Mrs E A Entwistle - Director


ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

St Michaels 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.

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.

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 - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

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.

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.

ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 44,274 46,604 77,642 3,214 171,734
Additions 7,500 - - - 7,500
At 31 August 2023 51,774 46,604 77,642 3,214 179,234
DEPRECIATION
At 1 September 2022 - 46,604 76,216 3,205 126,025
Charge for year - - 395 9 404
At 31 August 2023 - 46,604 76,611 3,214 126,429
NET BOOK VALUE
At 31 August 2023 51,774 - 1,031 - 52,805
At 31 August 2022 44,274 - 1,426 9 45,709

5. STOCKS
31.8.23 31.8.22
£    £   
Stocks 37,700 35,650

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 7,160 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Taxation and social security 717 7,730
Other creditors 1,250 1,303
1,967 9,033

ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023


8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
1 Share capital 1 £1 1 1

9. RESERVES
Retained
earnings
£   

At 1 September 2022 102,896
Profit for the year 13,519
Dividends (15,682 )
At 31 August 2023 100,733

10. RELATED PARTY DISCLOSURES

The company is a related party to Wisborough (Tenterden) Limited, as Mrs E Entwistle acts as director on the board of both companies.