Friends Of Yeovil Hospital Shop Limited 02575863 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is to be those of retail confectioners and newsagents at Yeovil District Hospital Digita Accounts Production Advanced 6.30.9574.0 true 02575863 2023-10-01 2024-09-30 02575863 2024-09-30 02575863 core:CurrentFinancialInstruments 2024-09-30 02575863 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 02575863 core:FurnitureFittings 2024-09-30 02575863 core:OfficeEquipment 2024-09-30 02575863 bus:SmallEntities 2023-10-01 2024-09-30 02575863 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 02575863 bus:FilletedAccounts 2023-10-01 2024-09-30 02575863 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02575863 bus:RegisteredOffice 2023-10-01 2024-09-30 02575863 bus:Director4 2023-10-01 2024-09-30 02575863 bus:Director6 2023-10-01 2024-09-30 02575863 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02575863 core:FurnitureFittings 2023-10-01 2024-09-30 02575863 core:OfficeEquipment 2023-10-01 2024-09-30 02575863 core:ParentEntities 2023-10-01 2024-09-30 02575863 countries:England 2023-10-01 2024-09-30 02575863 2023-09-30 02575863 core:FurnitureFittings 2023-09-30 02575863 core:OfficeEquipment 2023-09-30 02575863 2022-10-01 2023-09-30 02575863 2023-09-30 02575863 core:CurrentFinancialInstruments 2023-09-30 02575863 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 02575863 core:FurnitureFittings 2023-09-30 02575863 core:OfficeEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 02575863

Friends Of Yeovil Hospital Shop Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Friends Of Yeovil Hospital Shop Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Friends Of Yeovil Hospital Shop Limited

(Registration number: 02575863)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,773

2,350

Current assets

 

Stocks

5

9,285

12,566

Debtors

6

47,379

34,188

Cash at bank and in hand

 

102,031

132,523

 

158,695

179,277

Creditors: Amounts falling due within one year

7

(39,544)

(35,337)

Net current assets

 

119,151

143,940

Net assets

 

121,924

146,290

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

121,824

146,190

Shareholders' funds

 

121,924

146,290

 

Friends Of Yeovil Hospital Shop Limited

(Registration number: 02575863)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 February 2025 and signed on its behalf by:
 

M W Spurr
Director

N J Wardell
Director

 
     
 

Friends Of Yeovil Hospital Shop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
c/o Milsted Langdon LLP
Motivo House
Alvington
Yeovil
Somerset
BA20 2FG
England

These financial statements were authorised for issue by the Board on 3 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are recognised when the Company has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

 

Friends Of Yeovil Hospital Shop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% - 33.3% straight line

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Friends Of Yeovil Hospital Shop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 10 (2023 - 8).

 

Friends Of Yeovil Hospital Shop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

15,467

1,179

16,646

Additions

1,395

-

1,395

Disposals

(1,395)

-

(1,395)

At 30 September 2024

15,467

1,179

16,646

Depreciation

At 1 October 2023

13,778

518

14,296

Charge for the year

840

132

972

Eliminated on disposal

(1,395)

-

(1,395)

At 30 September 2024

13,223

650

13,873

Carrying amount

At 30 September 2024

2,244

529

2,773

At 30 September 2023

1,689

661

2,350

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

9,285

12,566

6

Debtors

2024
£

2023
£

Trade debtors

47,379

34,188

47,379

34,188

 

Friends Of Yeovil Hospital Shop Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Due within one year

2024
£

2023
£

Trade creditors

27,487

24,915

Social security and other taxes

6,966

6,456

Other creditors

2,803

1,337

Accruals

2,288

2,629

39,544

35,337

8

Related party transactions

Summary of transactions with parent

The League of Friends of Yeovil Hospitals
(the company's ultimate parent undertaking)

 The company makes a charitable donation each year to The League of Friends of Yeovil Hospitals based on the profits achieved each year. The donation in respect of the current year is £173,667 (2023: £148,422) and will be paid to the charity within 9 months of the financial year end.