Company registration number 12321121 (England and Wales)
CS CONVENIENCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MAY 2024
PAGES FOR FILING WITH REGISTRAR
CS CONVENIENCE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CS CONVENIENCE LIMITED
BALANCE SHEET
AS AT 29 MAY 2024
29 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,512
910
Current assets
Stocks
25,148
36,783
Debtors
4
4,370
Cash at bank and in hand
9
2
29,527
36,785
Creditors: amounts falling due within one year
5
(24,889)
(21,648)
Net current assets
4,638
15,137
Total assets less current liabilities
22,150
16,047
Provisions for liabilities
6
(4,378)
(182)
Net assets
17,772
15,865
Capital and reserves
Called up share capital
7
404
404
Profit and loss reserves
17,368
15,461
Total equity
17,772
15,865
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 February 2025 and are signed on its behalf by:
Mr A S Mahal
Mrs J K Mahal
Director
Director
Company registration number 12321121 (England and Wales)
CS CONVENIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MAY 2024
- 2 -
1
Accounting policies
Company information
CS Convenience Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
CS CONVENIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MAY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
9
CS CONVENIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MAY 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 30 May 2023
1,618
1,618
Additions
22,440
22,440
At 29 May 2024
1,618
22,440
24,058
Depreciation and impairment
At 30 May 2023
708
708
Depreciation charged in the year
228
5,610
5,838
At 29 May 2024
936
5,610
6,546
Carrying amount
At 29 May 2024
682
16,830
17,512
At 29 May 2023
910
910
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,370
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13,940
1,005
Taxation and social security
4,181
12,908
Other creditors
6,768
7,735
24,889
21,648
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
4,378
182
CS CONVENIENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MAY 2024
- 5 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
134
134
134
134
Ordinary B of £1 each
2
2
2
2
Ordinary C of £1 each
2
2
2
2
Ordinary D of £1 each
133
67
133
67
Ordinary E of £1 each
133
67
133
67
Ordinary F of £1 each
-
66
-
66
Ordinary G of £1 each
-
66
-
66
404
404
404
404
During the year, the company underwent a share reorganisation.
The company passed an ordinary resolution by reclassifying 66 Ordinary F £1 shares into 66 Ordinary D £1 shares and 66 Ordinary G £1 shares into 66 Ordinary E £1 shares. The rights and privileges attached to these shares remain unaltered.
8
Ultimate controlling party
There is no ultimate controlling party.