REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
MITRE TRUST SHOP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
MITRE TRUST SHOP LIMITED |
MITRE TRUST SHOP LIMITED (REGISTERED NUMBER: NI037530) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 4 |
MITRE TRUST SHOP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
17 Clarendon Road |
Clarendon Dock |
Belfast |
BT1 3BG |
BANKERS: |
Donegall Square West |
Belfast |
BT1 6JS |
MITRE TRUST SHOP LIMITED (REGISTERED NUMBER: NI037530) |
BALANCE SHEET |
31 DECEMBER 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
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 |
MITRE TRUST SHOP LIMITED (REGISTERED NUMBER: NI037530) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Mitre Trust Shop Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Going concern |
The company made a profit in the year of £12,641 (2022: £1,389) and at 31 December 2023 the company had net assets of £9,496 (2022: net liabilities of £3,145). |
At year end the company owed its parent company £29,390 (2022: £16,690). This balance will not be recalled until such time as the company has adequate resources available. |
The company is reliant on the continued support of its parent. The directors have reasonable expectation that this support will be available for at least one year from the date of signing these financial statements. Consequently, the financial statements have been prepared on a going concern basis. The financial statements do not include any adjustments which would result if the support was withdrawn. |
Significant judgements and estimates |
No significant judgements have had to be made by management in preparing these financial statements. |
Gift aid payment to parent charity |
The company pays all of its taxable profits for the reporting period to Mitre Trust, its parent charity, under the gift aid scheme. These gift aid payments are recognised as distributions to owners in equity within retained earnings in the year they were paid. |
Turnover |
Turnover represents sales of goods excluding value added tax. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Short term debtors and creditors |
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
MITRE TRUST SHOP LIMITED (REGISTERED NUMBER: NI037530) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
7. | ULTIMATE CONTROLLING PARTY |
The company's ultimate parent company is Mitre Trust, a company incorporated in Northern Ireland. The financial statements of Mitre Trust are available to the public and can be accessed at Companies House, Belfast. |