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REGISTERED NUMBER: 00055930 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 June 2024

for

Yarmouth Stores,Limited(The)

Yarmouth Stores,Limited(The) (Registered number: 00055930)

Contents of the Financial Statements
for the Year Ended 29 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Yarmouth Stores,Limited(The) (Registered number: 00055930)

Balance Sheet
29 June 2024

2024 2023
Notes £ £
Assets

Fixed assets
Tangible assets 5 435,767 600,043

Current assets
Stocks 138,934 129,539
Debtors 6 137,912 78,597
Investments 7 1 1
Cash at bank and in hand 1,411 7,317
278,258 215,454
714,025 815,497

Capital, reserves and liabilities

Capital and reserves
Called up share capital 1,034,732 1,034,732
Revaluation reserve 8 586,275 586,275
Other reserves 13,459 13,459
Retained earnings (2,106,098 ) (2,036,461 )
(471,632 ) (401,995 )

Creditors
Amounts falling due within one year 9 1,171,191 1,193,490
Amounts falling due after more than one
year

10

14,466

24,002
714,025 815,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 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.

Yarmouth Stores,Limited(The) (Registered number: 00055930)

Balance Sheet - continued
29 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Mr A C W Knights - Director


Yarmouth Stores,Limited(The) (Registered number: 00055930)

Notes to the Financial Statements
for the Year Ended 29 June 2024


1. Statutory information

Yarmouth Stores,Limited(The) is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00055930

Registered office: 17 Southgates Road
Great Yarmouth
Norfolk
NR30 3LJ

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost is computed on a first in first out basis. The cost of work in progress and finished goods includes all production overheads and depreciation and the attributable proportion of indirect overheads based on normal level of activity. Net realisable value is based on estimated selling price less the estimated cost of disposal.

Yarmouth Stores,Limited(The) (Registered number: 00055930)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Going concern
The financial statements have been prepared on a going concern basis, despite reporting a loss for the year. The directors continue to provide financial support to the company by the way of directors loan accounts and loan finance.

Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprises a small group.

Yarmouth Stores,Limited(The) (Registered number: 00055930)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


3. Accounting policies - continued

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Freehold and leasehold properties are carried at revalued amounts and are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income and accumulated equity, expect to the extent it reverses a revaluation decrease of the same asset previously recongnised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recongnised in other comprehensive income to the extent of any previously recongnised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit and loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:-

Long leasehold property - over period of the lease
Plant and machinery - 20% straight line
Fixtures and fittings - 20% straight line
Motor vehicles - 20% straight line

4. Employees and directors

The average number of employees during the year was 21 (2023 - 22 ) .

Yarmouth Stores,Limited(The) (Registered number: 00055930)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


5. Tangible fixed assets
Freehold Long Plant and
property leasehold machinery
£ £ £
Cost
At 30 June 2023 435,000 176,285 182,224
Additions 150,000 - -
Disposals (150,000 ) (176,285 ) -
At 29 June 2024 435,000 - 182,224
Depreciation
At 30 June 2023 - 15,821 179,615
Charge for year - - 1,980
Eliminated on disposal - (15,821 ) -
At 29 June 2024 - - 181,595
Net book value
At 29 June 2024 435,000 - 629
At 29 June 2023 435,000 160,464 2,609

Fixtures
and Motor
fittings vehicles Totals
£ £ £
Cost
At 30 June 2023 183,029 20,306 996,844
Additions - - 150,000
Disposals - - (326,285 )
At 29 June 2024 183,029 20,306 820,559
Depreciation
At 30 June 2023 181,060 20,305 396,801
Charge for year 1,831 1 3,812
Eliminated on disposal - - (15,821 )
At 29 June 2024 182,891 20,306 384,792
Net book value
At 29 June 2024 138 - 435,767
At 29 June 2023 1,969 1 600,043

All of the company's freehold and long leasehold properties were valued in prior years by professional valuers and were revalued to fair value at 31 January 2018. The directors do not consider that a tax charge will arise on disposal at the carrying value due to the length of time the properties have been held and the availability of reliefs and allowances.

Yarmouth Stores,Limited(The) (Registered number: 00055930)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2024


6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 79,337 73,272
Other debtors 58,575 5,325
137,912 78,597

7. Current asset investments
2024 2023
£ £
Investments in group undertakings 1 1

8. Reserves
Revaluation
reserve
£
At 30 June 2023
and 29 June 2024 586,275

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,782 10,000
Trade creditors 73,194 87,497
Amounts owed to associates 93,578 97,250
Taxation and social security 58,661 32,752
Other creditors 934,976 965,991
1,171,191 1,193,490

10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 14,466 24,002

Included in other creditors is a loan which is secured by a fixed and floating charge over the assets of the company.

11. Related party disclosures

During the year, the company disposed of a freehold property to a company under common control. The company also disposed of a leasehold to a company under common control. Both transactions were completed at market rate. There was no balanced outstanding at the year end.