Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3022023-07-01falseRetail sale of hardware, paints andglass in specialised stores2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04792323 2023-07-01 2024-06-30 04792323 2022-07-01 2023-06-30 04792323 2024-06-30 04792323 2023-06-30 04792323 c:Director1 2023-07-01 2024-06-30 04792323 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 04792323 d:Buildings d:LongLeaseholdAssets 2024-06-30 04792323 d:Buildings d:LongLeaseholdAssets 2023-06-30 04792323 d:PlantMachinery 2023-07-01 2024-06-30 04792323 d:MotorVehicles 2023-07-01 2024-06-30 04792323 d:MotorVehicles 2024-06-30 04792323 d:MotorVehicles 2023-06-30 04792323 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04792323 d:FurnitureFittings 2023-07-01 2024-06-30 04792323 d:FurnitureFittings 2024-06-30 04792323 d:FurnitureFittings 2023-06-30 04792323 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04792323 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04792323 d:Goodwill 2023-07-01 2024-06-30 04792323 d:Goodwill 2024-06-30 04792323 d:Goodwill 2023-06-30 04792323 d:CurrentFinancialInstruments 2024-06-30 04792323 d:CurrentFinancialInstruments 2023-06-30 04792323 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04792323 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04792323 d:ShareCapital 2024-06-30 04792323 d:ShareCapital 2023-06-30 04792323 d:RetainedEarningsAccumulatedLosses 2024-06-30 04792323 d:RetainedEarningsAccumulatedLosses 2023-06-30 04792323 c:FRS102 2023-07-01 2024-06-30 04792323 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04792323 c:FullAccounts 2023-07-01 2024-06-30 04792323 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04792323 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 04792323









DISTRICT AND MODERN STORES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
DISTRICT AND MODERN STORES LIMITED
REGISTERED NUMBER: 04792323

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
1
1

Tangible assets
 6 
42
56

  
43
57

Current assets
  

Stocks
  
83,700
98,700

Debtors: amounts falling due within one year
 7 
34,094
38,191

Cash at bank and in hand
 8 
128,807
132,710

  
246,601
269,601

Creditors: amounts falling due within one year
 9 
(23,781)
(31,816)

Net current assets
  
 
 
222,820
 
 
237,785

Total assets less current liabilities
  
222,863
237,842

  

Net assets
  
222,863
237,842


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
222,763
237,742

  
222,863
237,842


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

M Gay
Page 1

 
DISTRICT AND MODERN STORES LIMITED
REGISTERED NUMBER: 04792323
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

Director

Date: 14 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DISTRICT AND MODERN STORES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

District and Modern Stores Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
DISTRICT AND MODERN STORES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line basis and a reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
Over 5 years
Plant & machinery
-
25% reducing basis
Motor vehicles
-
over 5 years
Fixtures & fittings
-
25% reducing basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
DISTRICT AND MODERN STORES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.  


4.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
DISTRICT AND MODERN STORES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Intangible assets



Goodwill

£



Cost


At 1 July 2023
55,000



At 30 June 2024

55,000



Amortisation


At 1 July 2023
54,999



At 30 June 2024

54,999



Net book value



At 30 June 2024
1



Page 6

 
DISTRICT AND MODERN STORES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Tangible fixed assets





Leasehold Property
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
6,868
20,984
16,332
44,184



At 30 June 2024

6,868
20,984
16,332
44,184



Depreciation


At 1 July 2023
6,868
20,984
16,276
44,128


Charge for the year on owned assets
-
-
14
14



At 30 June 2024

6,868
20,984
16,290
44,142



Net book value



At 30 June 2024
-
-
42
42



At 30 June 2023
-
-
56
56


7.


Debtors

2024
2023
£
£


Trade debtors
6,478
11,921

Other debtors
13,752
12,838

Prepayments and accrued income
13,864
13,432

34,094
38,191



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
128,807
132,710

128,807
132,710


Page 7

 
DISTRICT AND MODERN STORES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
11,037
18,973

Corporation tax
-
915

Other taxation and social security
10,309
9,608

Other creditors
40
40

Accruals and deferred income
2,395
2,280

23,781
31,816



10.


Related party transactions

A Director is a majority shareholder of a related Company. 
At the year end District and Modern Stores Limited was owed £2,357 
(2023: £4,291) by the related company, included in trade debtors.


11.


Taxation





There are tax losses carried forward totalling £10,680. No deferred tax asset has been recognised during the year.

 
Page 8