2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 25,000 11,072 1,250 12,322 12,678 13,928 xbrli:pure xbrli:shares iso4217:GBP 08922707 2023-04-01 2024-03-31 08922707 2024-03-31 08922707 2023-03-31 08922707 2022-04-01 2023-03-31 08922707 2023-03-31 08922707 2022-03-31 08922707 core:NetGoodwill 2023-04-01 2024-03-31 08922707 core:FurnitureFittings 2023-04-01 2024-03-31 08922707 core:MotorVehicles 2023-04-01 2024-03-31 08922707 bus:Director1 2023-04-01 2024-03-31 08922707 core:NetGoodwill 2023-03-31 08922707 core:NetGoodwill 2024-03-31 08922707 core:LandBuildings 2023-03-31 08922707 core:FurnitureFittings 2023-03-31 08922707 core:MotorVehicles 2023-03-31 08922707 core:LandBuildings 2024-03-31 08922707 core:FurnitureFittings 2024-03-31 08922707 core:MotorVehicles 2024-03-31 08922707 core:WithinOneYear 2024-03-31 08922707 core:WithinOneYear 2023-03-31 08922707 core:AfterOneYear 2024-03-31 08922707 core:AfterOneYear 2023-03-31 08922707 core:ShareCapital 2024-03-31 08922707 core:ShareCapital 2023-03-31 08922707 core:RetainedEarningsAccumulatedLosses 2024-03-31 08922707 core:RetainedEarningsAccumulatedLosses 2023-03-31 08922707 core:LandBuildings 2023-04-01 2024-03-31 08922707 core:NetGoodwill 2023-03-31 08922707 core:LandBuildings 2023-03-31 08922707 core:FurnitureFittings 2023-03-31 08922707 core:MotorVehicles 2023-03-31 08922707 bus:Director1 2023-03-31 08922707 bus:Director1 2024-03-31 08922707 bus:Director1 2022-03-31 08922707 bus:Director1 2023-03-31 08922707 bus:Director1 2022-04-01 2023-03-31 08922707 bus:SmallEntities 2023-04-01 2024-03-31 08922707 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08922707 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08922707 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08922707 bus:FullAccounts 2023-04-01 2024-03-31 08922707 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 08922707
Theale Convenience Store Limited
Filleted Unaudited Financial Statements
31 March 2024
Theale Convenience Store Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
12,678
13,928
Tangible assets
6
13,787
17,065
--------
--------
26,465
30,993
Current assets
Stocks
39,472
37,621
Debtors
7
3,600
3,600
Cash at bank and in hand
32,803
33,748
--------
--------
75,875
74,969
Creditors: amounts falling due within one year
8
66,682
58,918
--------
--------
Net current assets
9,193
16,051
--------
--------
Total assets less current liabilities
35,658
47,044
Creditors: amounts falling due after more than one year
9
25,753
37,505
--------
--------
Net assets
9,905
9,539
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
9,805
9,439
-------
-------
Shareholders funds
9,905
9,539
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Theale Convenience Store Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
Mr K Singh
Director
Company registration number: 08922707
Theale Convenience Store Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Agincourt Villas, Uxbridge Road, Hillingdon, Middlesex, UB10 0NX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
Over the term of lease
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
25,000
--------
Amortisation
At 1 April 2023
11,072
Charge for the year
1,250
--------
At 31 March 2024
12,322
--------
Carrying amount
At 31 March 2024
12,678
--------
At 31 March 2023
13,928
--------
6. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
2,200
12,636
15,093
29,929
-------
--------
--------
--------
Depreciation
At 1 April 2023
974
6,457
5,433
12,864
Charge for the year
110
1,236
1,932
3,278
-------
--------
--------
--------
At 31 March 2024
1,084
7,693
7,365
16,142
-------
--------
--------
--------
Carrying amount
At 31 March 2024
1,116
4,943
7,728
13,787
-------
--------
--------
--------
At 31 March 2023
1,226
6,179
9,660
17,065
-------
--------
--------
--------
7. Debtors
2024
2023
£
£
Other debtors
3,600
3,600
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,648
10,648
Trade creditors
2,182
Corporation tax
2,031
988
Social security and other taxes
947
1,340
Other creditors
50,874
45,942
--------
--------
66,682
58,918
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,787
21,739
Other creditors
13,966
15,766
--------
--------
25,753
37,505
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr K Singh
( 40,766)
( 3,200)
( 43,966)
--------
-------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr K Singh
( 35,766)
( 5,000)
( 40,766)
--------
-------
--------