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REGISTERED NUMBER: 07127152 (England and Wales)












Looe Chandlery Limited

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31st October 2024






Looe Chandlery Limited (Registered number: 07127152)






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Looe Chandlery Limited

Company Information
for the Year Ended 31st October 2024







DIRECTORS: P M Bain
S M Barber





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 07127152 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Looe Chandlery Limited (Registered number: 07127152)

Report of the Directors
for the Year Ended 31st October 2024

The directors present their report with the financial statements of the company for the year ended 31st October 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the operation of a retail chandlery outlet.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st November 2023 to the date of this report.

P M Bain
S M Barber

Other changes in directors holding office are as follows:

Mrs R J Shaw - deceased 18th January 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P M Bain - Director


17th February 2025

Looe Chandlery Limited (Registered number: 07127152)

Statement of Financial Position
31st October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,247 2,881
2,247 2,881

CURRENT ASSETS
Stocks 62,260 79,644
Debtors 6 162 427
Cash at bank and in hand 76,223 70,980
138,645 151,051
CREDITORS
Amounts falling due within one year 7 (6,534 ) (5,692 )
NET CURRENT ASSETS 132,111 145,359
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,358

148,240

PROVISIONS FOR LIABILITIES (427 ) (547 )
NET ASSETS 133,931 147,693

CAPITAL AND RESERVES
Called up share capital 156,000 156,000
Retained earnings (22,069 ) (8,307 )
SHAREHOLDERS' FUNDS 133,931 147,693

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

Looe Chandlery Limited (Registered number: 07127152)

Statement of Financial Position - continued
31st October 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 17th February 2025 and were signed on its behalf by:





P M Bain - Director


Looe Chandlery Limited (Registered number: 07127152)

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

Looe Chandlery Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover 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 2010, was
amortised evenly over its estimated useful life of ten years. This was fully amortised in the year ended 31st October 2020.

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.
Land and buildings - Straight line over 12 years
Plant and machinery etc - 25% on reducing balance

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

Looe Chandlery Limited (Registered number: 07127152)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2023
and 31st October 2024 7,214
AMORTISATION
At 1st November 2023
and 31st October 2024 7,214
NET BOOK VALUE
At 31st October 2024 -
At 31st October 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st November 2023
and 31st October 2024 18,641 7,173 25,814
DEPRECIATION
At 1st November 2023 18,641 4,292 22,933
Charge for year - 634 634
At 31st October 2024 18,641 4,926 23,567
NET BOOK VALUE
At 31st October 2024 - 2,247 2,247
At 31st October 2023 - 2,881 2,881

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 162 427

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 2,681 -
Taxation and social security 933 1,249
Other creditors 2,920 4,443
6,534 5,692