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REGISTERED NUMBER: 11355482 (England and Wales)


Financial Statements for the Year Ended 31 May 2024

for

Southern Stores Ltd

Southern Stores Ltd (Registered number: 11355482)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Southern Stores Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr Pavanjit Garcha
Mrs Daljit Kaur Garcha





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
West Midlands
CV6 4AD





REGISTERED NUMBER: 11355482 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Southern Stores Ltd (Registered number: 11355482)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,006 60,006
Property, plant and equipment 5 871,598 885,437
931,604 945,443

CURRENT ASSETS
Inventories 30,055 24,630
Debtors 6 135 1,690
Cash at bank and in hand 88,171 71,661
118,361 97,981
CREDITORS
Amounts falling due within one year 7 117,573 105,449
NET CURRENT ASSETS/(LIABILITIES) 788 (7,468 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

932,392

937,975

CREDITORS
Amounts falling due after more than one
year

8

819,247

866,391
NET ASSETS 113,145 71,584

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 113,143 71,582
SHAREHOLDERS' FUNDS 113,145 71,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Southern Stores Ltd (Registered number: 11355482)

Statement of Financial Position - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2025 and were signed on its behalf by:





Mr Pavanjit Garcha - Director


Southern Stores Ltd (Registered number: 11355482)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Southern Stores Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 60,006
NET BOOK VALUE
At 31 May 2024 60,006
At 31 May 2023 60,006

Southern Stores Ltd (Registered number: 11355482)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 816,078 151,298 967,376
Additions - 1,198 1,198
At 31 May 2024 816,078 152,496 968,574
DEPRECIATION
At 1 June 2023 - 81,939 81,939
Charge for year - 15,037 15,037
At 31 May 2024 - 96,976 96,976
NET BOOK VALUE
At 31 May 2024 816,078 55,520 871,598
At 31 May 2023 816,078 69,359 885,437

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 135 1,690

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 1,720 4,038
Trade creditors 30,262 30,018
Taxation and social security 16,264 24,705
Other creditors 69,327 46,688
117,573 105,449

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 819,247 866,391

Southern Stores Ltd (Registered number: 11355482)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1 2 2