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Registered number: 04963764
Bert's Homestores Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
McPhersons Walpole Harding
ACCA
Citibase Brighton
95 Ditchling Road
Brighton
BN1 4ST
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04963764
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,067 42,389
32,067 42,389
CURRENT ASSETS
Stocks 5 373,568 369,803
Debtors 6 62,459 85,687
Cash at bank and in hand 1,012,164 2,003,703
1,448,191 2,459,193
Creditors: Amounts Falling Due Within One Year 7 (395,746 ) (321,880 )
NET CURRENT ASSETS (LIABILITIES) 1,052,445 2,137,313
TOTAL ASSETS LESS CURRENT LIABILITIES 1,084,512 2,179,702
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,358 ) (8,005 )
NET ASSETS 1,078,154 2,171,697
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 1,078,152 2,171,695
SHAREHOLDERS' FUNDS 1,078,154 2,171,697
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Earley
Director
Mrs E J Stewart
Director
29 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bert's Homestores Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04963764 . The registered office is 17 Spring Street, Brighton, BN1 3EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill of £265,174 was paid to the company's directors when they transferred their business to the company in 2009. It has been fuly amortised to the profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold in accordance with the property
Plant & Machinery in accordance with the property
Motor Vehicles 25% per year on a reducing balance basis
Fixtures & Fittings 20% per year on a reducing balance basis
Computer Equipment 25% per year on a reducing balance basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items .
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 38 (2023: 39)
38 39
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2023 61,218 241,696 302,914
As at 31 March 2024 61,218 241,696 302,914
Depreciation
As at 1 April 2023 53,502 207,023 260,525
Provided during the period 2,409 7,913 10,322
As at 31 March 2024 55,911 214,936 270,847
Net Book Value
As at 31 March 2024 5,307 26,760 32,067
As at 1 April 2023 7,716 34,673 42,389
5. Stocks
2024 2023
£ £
Stock 373,568 369,803
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 62,459 85,687
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 131,749 137,787
Bank loans and overdrafts 854 3,452
Other creditors 24,430 24,332
Taxation and social security 238,713 156,309
395,746 321,880
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Capital Commitments
2024 2023
£ £
At the end of the period 223,651 404,110
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
10. Related Party Transactions
In April 2023 the company's two directors transferred their shares in this company to a new parent company, Elicha Ltd. They acquired shares in Elicha Ltd as part of a share-for-share exchange.
11. Ultimate Controlling Party
The company's two directors each own 50% of the issued share capital in this company's parent company, Elicha Ltd, and are also directors of that company. There is no ultimate controlling party.
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