Silverfin false false 31/03/2024 08/03/2023 31/03/2024 Mr C Bassett 08/03/2023 Mr D R Brittan 08/03/2023 04 October 2024 The principal activity of the company during the financial year was that of a fuel station and convenience store. 14716971 2024-03-31 14716971 bus:Director1 2024-03-31 14716971 bus:Director2 2024-03-31 14716971 core:CurrentFinancialInstruments 2024-03-31 14716971 core:Non-currentFinancialInstruments 2024-03-31 14716971 core:ShareCapital 2024-03-31 14716971 core:RetainedEarningsAccumulatedLosses 2024-03-31 14716971 core:LeaseholdImprovements 2023-03-07 14716971 core:Vehicles 2023-03-07 14716971 core:FurnitureFittings 2023-03-07 14716971 core:OfficeEquipment 2023-03-07 14716971 2023-03-07 14716971 core:LeaseholdImprovements 2024-03-31 14716971 core:Vehicles 2024-03-31 14716971 core:FurnitureFittings 2024-03-31 14716971 core:OfficeEquipment 2024-03-31 14716971 core:CurrentFinancialInstruments 1 2024-03-31 14716971 2023-03-08 2024-03-31 14716971 bus:FilletedAccounts 2023-03-08 2024-03-31 14716971 bus:SmallEntities 2023-03-08 2024-03-31 14716971 bus:AuditExemptWithAccountantsReport 2023-03-08 2024-03-31 14716971 bus:PrivateLimitedCompanyLtd 2023-03-08 2024-03-31 14716971 bus:Director1 2023-03-08 2024-03-31 14716971 bus:Director2 2023-03-08 2024-03-31 14716971 core:LeaseholdImprovements core:TopRangeValue 2023-03-08 2024-03-31 14716971 core:Vehicles 2023-03-08 2024-03-31 14716971 core:FurnitureFittings 2023-03-08 2024-03-31 14716971 core:OfficeEquipment 2023-03-08 2024-03-31 14716971 core:LeaseholdImprovements 2023-03-08 2024-03-31 14716971 core:Non-currentFinancialInstruments 2023-03-08 2024-03-31 iso4217:GBP xbrli:pure

Company No: 14716971 (England and Wales)

LAMERTON STORES LIMITED

Unaudited Financial Statements
For the financial period from 08 March 2023 to 31 March 2024
Pages for filing with the registrar

LAMERTON STORES LIMITED

Unaudited Financial Statements

For the financial period from 08 March 2023 to 31 March 2024

Contents

LAMERTON STORES LIMITED

BALANCE SHEET

As at 31 March 2024
LAMERTON STORES LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 80,668
80,668
Current assets
Stocks 76,000
Debtors 4 10,442
Cash at bank and in hand 50,986
137,428
Creditors: amounts falling due within one year 5 ( 160,989)
Net current liabilities (23,561)
Total assets less current liabilities 57,107
Creditors: amounts falling due after more than one year 6 ( 17,250)
Provision for liabilities ( 5,232)
Net assets 34,625
Capital and reserves
Called-up share capital 100
Profit and loss account 34,525
Total shareholders' funds 34,625

For the financial period 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 financial statements of Lamerton Stores Limited (registered number: 14716971) were approved and authorised for issue by the Board of Directors on 04 October 2024. They were signed on its behalf by:

Mr C Bassett
Director
LAMERTON STORES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 March 2023 to 31 March 2024
LAMERTON STORES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 08 March 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Lamerton Stores Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Unit 18, 23 Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom. The principal place of business is Collacombe Down, Lamerton, Tavistock, Devon, PL19 8SD.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The annual accounts are presented for a period of longer than 12 months due to these being the first set of accounts for the company from incorporation.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

Period from
08.03.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 8

3. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 08 March 2023 0 0 0 0 0
Additions 56,540 6,875 14,365 8,416 86,196
At 31 March 2024 56,540 6,875 14,365 8,416 86,196
Accumulated depreciation
At 08 March 2023 0 0 0 0 0
Charge for the financial period 1,955 299 2,392 882 5,528
At 31 March 2024 1,955 299 2,392 882 5,528
Net book value
At 31 March 2024 54,585 6,576 11,973 7,534 80,668

4. Debtors

31.03.2024
£
Trade debtors 10,173
Other debtors 269
10,442

5. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 10,340
Amounts owed to connected companies 136,850
Amounts owed to directors 478
Other loans 4,000
Accruals 2,500
Taxation and social security 6,450
Other creditors 371
160,989

6. Creditors: amounts falling due after more than one year

31.03.2024
£
Other loans 17,250

There are no amounts included above in respect of which any security has been given by the small entity.