REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
Mentha & Halsall (Shopfitters) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
Mentha & Halsall (Shopfitters) Limited |
Mentha & Halsall (Shopfitters) Limited (Registered number: 01256525) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Mentha & Halsall (Shopfitters) Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
209 Liverpool Road |
Birkdale |
Southport |
Merseyside |
PR8 4PH |
Mentha & Halsall (Shopfitters) Limited (Registered number: 01256525) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Mentha & Halsall (Shopfitters) Limited (Registered number: 01256525) |
Balance Sheet - continued |
30 November 2023 |
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 |
Mentha & Halsall (Shopfitters) Limited (Registered number: 01256525) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Mentha & Halsall (Shopfitters) Limited is a private company, limited by shares, registered in England and Wales (registered number 01256525). The address of the registered office is 95A Linaker Street, Southport, Merseyside, PR8 5BU. The company's principal trading activity is that of shopfitters. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The company's functional and presentational currency is GBP. |
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see Note 10). |
Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of value added tax and trade discounts, and is derived from the principal trading activity of the company. |
Tangible fixed assets |
All tangible assets are initially recorded at cost. Cost includes all expenditure directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner included by management. |
Depreciation is provided at the following annual rates in order to write off each asset's cost less its residual amount over its estimated useful life:- |
Plant & Machinery - 15% Reducing Balance |
Fixtures & Fittings - 15% Reducing Balance |
Motor Vehicles - 25% Reducing Balance |
Computer Equipment - 25% Straight Line |
At each reporting date the company's tangible assets are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or related group of assets, which is the higher of value in use and the fair value less cost to sell is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for absolute and slow moving items. |
At each reporting date the carrying value of the company's stocks assets are reviewed to determine whether there is an indication that the carrying value of the company's stocks may be impaired. |
Mentha & Halsall (Shopfitters) Limited (Registered number: 01256525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors receivable and payable and loans from related parties. |
Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
Short term debtors are measured at transaction price, less any impairment. |
Short term creditors are measured at the transaction price. |
Financial assets are derecognised when the rights to receive cash flows from the asset have expired. Provision is made where there is objective evidence that the company will not be able to collect certain debts. Bad debts are written off when identified. Financial liabilities are derecognised when the obligations under the liability is discharged, cancelled or expires. |
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 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. |
Coronavirus (covid-19) loans |
The Company's loan, entered into with National Westminster Bank Plc in accordance with the Coronavirus Business Interruption Loan Scheme, introduced by the Government, is initially measured at transaction price. The loan is repayable over five years by monthly instalments commencing twelve months after draw down. Interest is charged on the loan at 2.6% per annum over Base Rate and will be paid for by the Government Business Interruption Payment for the first twelve months. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Mentha & Halsall (Shopfitters) Limited (Registered number: 01256525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2022 |
Disposals | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans |
8. | RELATED PARTY DISCLOSURES |
Mentha & Halsall (Shopfitters) Limited (Registered number: 01256525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
9. | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS |
The preparation of the financial statements, in conformity with generally accepted accounting principles, requires the use of estimates and judgements that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on the Directors' best knowledge of current events and results, actual results ultimately may differ from those estimates. |
In preparing these financial statements the Directors reviewed the company's contracts with its customers to ensure that revenues receivable in the year ended 30 November 2023 are satisfactory recorded within the income statement and balance sheet. Any contract overvaluations and amounts not considered to be recoverable as at 30 November 2023 are suitably adjusted for by the Directors in order for recoverable amounts to be carried forward in the company's balance sheet. |
The Directors do not consider there to be any additional estimates and judgements in connection with the preparation of the company's year ended 30 November 2023 financial statements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities at the balance sheet date of 30 November 2023. |