Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
91,240 | 105,308 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
801,519 | 665,522 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current assets | 435,881 | 341,890 | ||
Total assets less current liabilities | 527,121 | 447,198 | ||
Creditors: amounts falling due after more than one year | 7 | (
|
(
|
|
Provision for liabilities | (
|
(
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 8 |
|
|
|
Profit and loss account |
|
|
||
Total shareholder's funds |
|
|
Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Archstone Limited (registered number:
H H Quinlan
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Archstone Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Ground Floor, Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom. The Company's business address is 45 High Street, Glastonbury, BA6 9DS.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Revenue is recognised at point of sale to the customer within stores or upon delivery in respect of online sales.
Defined contribution schemes
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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Goodwill |
|
Trademarks, patents and licences |
|
Leasehold improvements |
|
Vehicles |
|
Fixtures and fittings |
|
Computer equipment |
|
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Goodwill | Trademarks, patents and licences |
Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 July 2023 |
|
|
|
||
At 30 June 2024 |
|
|
|
||
Accumulated amortisation | |||||
At 01 July 2023 |
|
|
|
||
Charge for the financial year |
|
|
|
||
At 30 June 2024 |
|
|
|
||
Net book value | |||||
At 30 June 2024 |
|
|
|
||
At 30 June 2023 |
|
|
|
Leasehold improve- ments |
Vehicles | Fixtures and fittings | Computer equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 July 2023 |
|
|
|
|
|
||||
Additions |
|
|
|
|
|
||||
At 30 June 2024 |
|
|
|
|
|
||||
Accumulated depreciation | |||||||||
At 01 July 2023 |
|
|
|
|
|
||||
Charge for the financial year |
|
|
|
|
|
||||
At 30 June 2024 |
|
|
|
|
|
||||
Net book value | |||||||||
At 30 June 2024 |
|
|
|
|
|
||||
At 30 June 2023 |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Amounts owed by Group undertakings |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
|
Trade creditors |
|
|
|
Amounts owed to directors |
|
|
|
Accruals |
|
|
|
Corporation tax |
|
|
|
Other taxation and social security |
|
|
|
Obligations under finance leases and hire purchase contracts |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
Bank borrowings are secured by way of a fixed and floating charge over the assets of the company.
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
2024 | 2023 | ||
£ | £ | ||
within one year |
|
|
|
between one and five years |
|
|
|
after five years |
|
|
|
|
|
The total amount of guarantees not included in the balance sheet is £560,000 (2023 - £560,000). The company is acting as guarantor to the immediate and ultimate parent company, registered in England and Wales, in respect of a £560,000 debenture granted during March 2022. The guarantees are secured by way of fixed charge and floating charge over the assets of the company.
The company has taken advantage of the exemption provided from disclosing transactions with its parent on the grounds that it is a wholly owned subsidiary.
During the year the directors and other connected parties were paid rent of £2,250 (2023: £nil)