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REGISTERED NUMBER: 05401097 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

CONVENIENCE FIRST LIMITED

CONVENIENCE FIRST LIMITED (REGISTERED NUMBER: 05401097)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


CONVENIENCE FIRST LIMITED (REGISTERED NUMBER: 05401097)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,375 5,475
Tangible assets 5 49,526 57,260
52,901 62,735

CURRENT ASSETS
Stocks 33,837 39,044
Debtors 6 11,767 16,562
Cash at bank and in hand 169,561 127,769
215,165 183,375
CREDITORS
Amounts falling due within one year 7 108,418 112,541
NET CURRENT ASSETS 106,747 70,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

159,648

133,569

PROVISIONS FOR LIABILITIES 11,013 12,913
NET ASSETS 148,635 120,656

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 148,634 120,655
SHAREHOLDERS' FUNDS 148,635 120,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





Mr A M Fincham - Director


CONVENIENCE FIRST LIMITED (REGISTERED NUMBER: 05401097)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Convenience First Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05401097

Registered office: High Street
Attleborough
Norfolk
NR17 2BS

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated remaining useful life of nine years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
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 Statement of Income and Retained Earnings, 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.

CONVENIENCE FIRST LIMITED (REGISTERED NUMBER: 05401097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES

The average number of employees during the year was 18 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
Goodwill fees Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 25,000 8,500 33,500
AMORTISATION
At 1 May 2023 22,500 5,525 28,025
Amortisation for year 1,250 850 2,100
At 30 April 2024 23,750 6,375 30,125
NET BOOK VALUE
At 30 April 2024 1,250 2,125 3,375
At 30 April 2023 2,500 2,975 5,475

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 6,652 202,241 5,768 11,713 226,374
Additions - 7,493 - 253 7,746
At 30 April 2024 6,652 209,734 5,768 11,966 234,120
DEPRECIATION
At 1 May 2023 1,044 155,370 5,145 7,555 169,114
Charge for year 133 12,946 156 2,245 15,480
At 30 April 2024 1,177 168,316 5,301 9,800 184,594
NET BOOK VALUE
At 30 April 2024 5,475 41,418 467 2,166 49,526
At 30 April 2023 5,608 46,871 623 4,158 57,260

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,388 5,379
Other debtors 5,379 11,183
11,767 16,562

CONVENIENCE FIRST LIMITED (REGISTERED NUMBER: 05401097)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 23,426 10,251
Other creditors 84,992 102,290
108,418 112,541

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 'A' £1 1 1

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A M Fincham.