St Sidwell's Trading Company Limited 11320571 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the operation of a bakery Digita Accounts Production Advanced 6.30.9574.0 true true 11320571 2023-04-01 2024-03-31 11320571 2024-03-31 11320571 core:CurrentFinancialInstruments 2024-03-31 11320571 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11320571 core:FurnitureFittingsToolsEquipment 2024-03-31 11320571 core:ParentEntities 2024-03-31 11320571 bus:SmallEntities 2023-04-01 2024-03-31 11320571 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11320571 bus:FilletedAccounts 2023-04-01 2024-03-31 11320571 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11320571 bus:RegisteredOffice 2023-04-01 2024-03-31 11320571 bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 11320571 bus:Director1 2023-04-01 2024-03-31 11320571 bus:Director3 2023-04-01 2024-03-31 11320571 bus:Director5 2023-04-01 2024-03-31 11320571 bus:Director6 2023-04-01 2024-03-31 11320571 bus:Director7 2023-04-01 2024-03-31 11320571 bus:Director8 2023-04-01 2024-03-31 11320571 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11320571 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11320571 core:PlantMachinery 2023-04-01 2024-03-31 11320571 core:ParentEntities 2023-04-01 2024-03-31 11320571 1 2023-04-01 2024-03-31 11320571 countries:EnglandWales 2023-04-01 2024-03-31 11320571 2023-03-31 11320571 core:FurnitureFittingsToolsEquipment 2023-03-31 11320571 core:ParentEntities 2023-03-31 11320571 2022-04-01 2023-03-31 11320571 2023-03-31 11320571 core:CurrentFinancialInstruments 2023-03-31 11320571 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11320571 core:FurnitureFittingsToolsEquipment 2023-03-31 11320571 core:ParentEntities 2023-03-31 11320571 core:ParentEntities 2022-04-01 2023-03-31 11320571 2022-03-31 11320571 core:ParentEntities 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 11320571

St Sidwell's Trading Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

St Sidwell's Trading Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

St Sidwell's Trading Company Limited

Company Information

Directors

G Aykroyd

K Bell

M Gardner

G S Lee

A Lucas

Dr C A J McLauchlan

Dr C Plender

Company secretary

K Bell

Registered office

St Sidwell's Centre
Sidwell Street
Exeter
Devon
EX4 6NN

Accountants

Wortham Jaques Limited
Chartered Accountants and Business Advisors
130a High Street,
Crediton,
Devon
EX17 3LQ

 

St Sidwell's Trading Company Limited

(Registration number: 11320571)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

777

1,554

Current assets

 

Debtors

5

7,814

11,289

Cash at bank and in hand

 

50,635

53,905

 

58,449

65,194

Creditors: Amounts falling due within one year

6

(59,303)

(58,391)

Net current (liabilities)/assets

 

(854)

6,803

Net (liabilities)/assets

 

(77)

8,357

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(78)

8,356

Shareholders' (deficit)/funds

 

(77)

8,357

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 September 2024 and signed on its behalf by:
 

.........................................
K Bell
Company secretary and director

 

St Sidwell's Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Sidwell's Centre
Sidwell Street
Exeter
Devon
EX4 6NN

These financial statements were authorised for issue by the Board on 4 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

St Sidwell's Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 3).

 

St Sidwell's Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

3,109

3,109

At 31 March 2024

3,109

3,109

Depreciation

At 1 April 2023

1,555

1,555

Charge for the year

777

777

At 31 March 2024

2,332

2,332

Carrying amount

At 31 March 2024

777

777

At 31 March 2023

1,554

1,554

5

Debtors

Current

2024
£

2023
£

Trade debtors

7,814

11,289

 

7,814

11,289

 

St Sidwell's Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

699

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

57,486

56,840

Accruals and deferred income

 

1,817

852

 

59,303

58,391

7

Dividends

2024

2023

£

£

Final dividend of £7,094.00 (2023 - £Nil) per ordinary share

7,094

-

 

 

8

Related party transactions

Summary of transactions with parent

St Sidwells Centre Exeter
 Recharge of costs incurred by the subsidary company paid for by the parent. All other transactions between the parent and subsidiary are concluded under normal market conditions.
 The balance outstanding is repayable to the parent within 12 months.
  During the year the subsidiary made a gift aid donation of it's 2023 distributable profits totalling £7,094 to the parent charity.

Loans from related parties

2024

Parent
£

Total
£

At start of period

56,840

56,840

Advanced

57,486

57,486

Repaid

(56,840)

(56,840)

At end of period

57,486

57,486

2023

Parent
£

Total
£

At start of period

(1,956)

(1,956)

Advanced

58,796

58,796

At end of period

56,840

56,840

 

St Sidwell's Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Terms of loans from related parties

The balance outstanding is repayable to the parent within 12 months.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is St Sidwell's Centre Exeter, incorporated in England and Wales.

  These financial statements are available upon request from St Sidwell's Centre, Sidwell Street, Exeter, EX4 6NN