3 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 45,271 31,960 667 32,627 12,644 13,311 xbrli:pure xbrli:shares iso4217:GBP 05064987 2023-04-01 2024-03-31 05064987 2024-03-31 05064987 2023-03-31 05064987 2022-04-01 2023-03-31 05064987 2023-03-31 05064987 2022-03-31 05064987 core:NetGoodwill 2023-04-01 2024-03-31 05064987 core:FurnitureFittings 2023-04-01 2024-03-31 05064987 core:MotorVehicles 2023-04-01 2024-03-31 05064987 bus:Director1 2023-04-01 2024-03-31 05064987 core:NetGoodwill 2023-03-31 05064987 core:NetGoodwill 2024-03-31 05064987 core:FurnitureFittings 2023-03-31 05064987 core:MotorVehicles 2023-03-31 05064987 core:FurnitureFittings 2024-03-31 05064987 core:MotorVehicles 2024-03-31 05064987 core:WithinOneYear 2024-03-31 05064987 core:WithinOneYear 2023-03-31 05064987 core:AfterOneYear 2024-03-31 05064987 core:AfterOneYear 2023-03-31 05064987 core:ShareCapital 2024-03-31 05064987 core:ShareCapital 2023-03-31 05064987 core:RetainedEarningsAccumulatedLosses 2024-03-31 05064987 core:RetainedEarningsAccumulatedLosses 2023-03-31 05064987 core:NetGoodwill 2023-03-31 05064987 core:FurnitureFittings 2023-03-31 05064987 core:MotorVehicles 2023-03-31 05064987 bus:Director1 2023-03-31 05064987 bus:Director1 2024-03-31 05064987 bus:Director1 2022-03-31 05064987 bus:Director1 2023-03-31 05064987 bus:Director1 2022-04-01 2023-03-31 05064987 bus:SmallEntities 2023-04-01 2024-03-31 05064987 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05064987 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05064987 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05064987 bus:FullAccounts 2023-04-01 2024-03-31 05064987 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05064987 core:FurnitureFittingsToolsEquipment 2023-03-31 05064987 core:FurnitureFittingsToolsEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 05064987
Cromwell Stores (UK) Limited
Filleted Unaudited Financial Statements
31 March 2024
Cromwell Stores (UK) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
12,644
13,311
Tangible assets
6
21,614
25,517
--------
--------
34,258
38,828
Current assets
Stocks
85,118
84,012
Debtors
7
231,996
233,791
Cash at bank and in hand
3,946
4,005
---------
---------
321,060
321,808
Creditors: amounts falling due within one year
8
328,200
291,923
---------
---------
Net current (liabilities)/assets
( 7,140)
29,885
--------
--------
Total assets less current liabilities
27,118
68,713
Creditors: amounts falling due after more than one year
9
21,349
36,751
--------
--------
Net assets
5,769
31,962
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
5,767
31,960
-------
--------
Shareholders funds
5,769
31,962
-------
--------
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cromwell Stores (UK) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 18 June 2024 , and are signed on behalf of the board by:
Mr C S Grover
Director
Company registration number: 05064987
Cromwell Stores (UK) 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:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
45,271
--------
Amortisation
At 1 April 2023
31,960
Charge for the year
667
--------
At 31 March 2024
32,627
--------
Carrying amount
At 31 March 2024
12,644
--------
At 31 March 2023
13,311
--------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
40,939
27,000
11,658
79,597
Additions
1,500
1,500
--------
--------
--------
--------
At 31 March 2024
40,939
27,000
13,158
81,097
--------
--------
--------
--------
Depreciation
At 1 April 2023
40,239
5,400
8,441
54,080
Charge for the year
140
4,320
943
5,403
--------
--------
--------
--------
At 31 March 2024
40,379
9,720
9,384
59,483
--------
--------
--------
--------
Carrying amount
At 31 March 2024
560
17,280
3,774
21,614
--------
--------
--------
--------
At 31 March 2023
700
21,600
3,217
25,517
--------
--------
--------
--------
7. Debtors
2024
2023
£
£
Other debtors
231,996
233,791
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
17,868
47,720
Trade creditors
5,284
25,047
Corporation tax
5,520
2,496
Social security and other taxes
2,467
2,902
Other creditors
297,061
213,758
---------
---------
328,200
291,923
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,349
36,751
--------
--------
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr C S Grover
( 203,172)
( 74,140)
( 277,312)
---------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr C S Grover
( 174,892)
( 28,280)
( 203,172)
---------
--------
---------