Company registration number 02655864 (England and Wales)
CLAIRE HOUSE SHOPS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CLAIRE HOUSE SHOPS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CLAIRE HOUSE SHOPS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
4
1,570
8,145
Cash at bank and in hand
15,520
6,582
17,090
14,727
Creditors: amounts falling due within one year
5
(14,787)
(12,424)
Net current assets
2,303
2,303
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
2,301
2,301
Total equity
2,303
2,303
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mr J R Bagley
Director
Company registration number 02655864 (England and Wales)
CLAIRE HOUSE SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Claire House Shops Limited is a private company limited by shares incorporated in England and Wales. The registered office is Claire House Children Hospice, Clatterbridge Road, Bebbington, Wirral, Merseyside, CH63 4JD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
1.2
Turnover
The turnover shown in the profit and loss account represents donor management fees, merchandise sales and commissions earned during the year, exclusive of VAT.
Merchandise sales are recognised at the point of sale to the customer and commission and management fees are recognised on an accrual basis when the company is legally entitled to the income in accordance with the contracts or agreements in place.
1.3
Stocks
Stock consist of purchased goods for resale and consumables.
Stocks are valued at the lower of cost or net realisable value.
Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CLAIRE HOUSE SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
CLAIRE HOUSE SHOPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Stocks
2024
2023
£
£
Stocks
1,570
8,145
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
11,637
9,049
Other creditors
3,150
3,375
14,787
12,424
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Mr Andrew Hopwood BSc (Hons) FCA
Statutory Auditor:
Champion Accountants LLP
Date of audit report:
7 October 2024
7
Related party transactions
The company is a wholly owned subsidiary of Claire House, a registered charity with its registered office at Clatterbridge Road, Bebington, Wirral, CH63 4JD, throughout the current and previous year. The directors are appointed to administer the company on behalf of the charity and the directors hold shares as nominees for the charity.
8
Controlling party
The company is a wholly owned subsidiary of Claire House, a registered Charity in England and Wales.