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Registration number: 13023653

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

(Registration number: 13023653)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

13,957

16,283

Tangible assets

5

38,857

52,990

 

52,814

69,273

Current assets

 

Stocks

6

34,902

85,000

Debtors

7

45,575

28,055

Cash at bank and in hand

 

2,856

13,943

 

83,333

126,998

Creditors: Amounts falling due within one year

8

(250,597)

(227,783)

Net current liabilities

 

(167,264)

(100,785)

Total assets less current liabilities

 

(114,450)

(31,512)

Creditors: Amounts falling due after more than one year

8

(17,256)

-

Net liabilities

 

(131,706)

(31,512)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(131,806)

(31,612)

Shareholders' deficit

 

(131,706)

(31,512)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

(Registration number: 13023653)
Balance Sheet as at 30 November 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr Francis Acharya
Director

   
     
 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
30 Courtney Close
Tewkesbury
Gloucestershire
GL20 5FB
United Kingdom

These financial statements were authorised for issue by the Board on 13 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% on Reducing Balance

Leasehold Improvements

20% on Straight Line

Plant and machinery

20% on Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise Agreement

Straight line over 10 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 8).

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

23,261

23,261

At 30 November 2024

23,261

23,261

Amortisation

At 1 December 2023

6,978

6,978

Amortisation charge

2,326

2,326

At 30 November 2024

9,304

9,304

Carrying amount

At 30 November 2024

13,957

13,957

At 30 November 2023

16,283

16,283

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

9,682

87,238

14,893

111,813

At 30 November 2024

9,682

87,238

14,893

111,813

Depreciation

At 1 December 2023

2,496

50,370

5,957

58,823

Charge for the year

1,937

9,217

2,979

14,133

At 30 November 2024

4,433

59,587

8,936

72,956

Carrying amount

At 30 November 2024

5,249

27,651

5,957

38,857

At 30 November 2023

7,186

36,868

8,936

52,990

 

F & A Convenience Stores Ltd

trading as F & A Convenience Stores Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings and £5,249 (2023 - £7,186) in respect of long leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

34,902

85,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

16,042

8,998

Prepayments

14,533

4,057

Other debtors

15,000

15,000

 

45,575

28,055

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

27,338

1,778

Trade creditors

 

15,508

29,678

Taxation and social security

 

3,867

4,067

Accruals and deferred income

 

1,518

4,204

Other creditors

 

202,366

188,056

 

250,597

227,783

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

17,256

-