Bouverie News (Folkestone) Limited 07448326 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is the operation of convenience stores. The company ceased to trade on 18 June 2024. Digita Accounts Production Advanced 6.30.9574.0 true true 07448326 2023-08-01 2024-07-31 07448326 2024-07-31 07448326 core:CurrentFinancialInstruments 2024-07-31 07448326 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 07448326 core:Non-currentFinancialInstruments 2024-07-31 07448326 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 07448326 core:Goodwill 2024-07-31 07448326 core:PatentsTrademarksLicencesConcessionsSimilar 2024-07-31 07448326 core:FurnitureFittings 2024-07-31 07448326 core:LandBuildings core:ShortLeaseholdAssets 2024-07-31 07448326 bus:SmallEntities 2023-08-01 2024-07-31 07448326 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07448326 bus:FilletedAccounts 2023-08-01 2024-07-31 07448326 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07448326 bus:RegisteredOffice 2023-08-01 2024-07-31 07448326 bus:CompanySecretary1 2023-08-01 2024-07-31 07448326 bus:Director2 2023-08-01 2024-07-31 07448326 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07448326 core:Goodwill 2023-08-01 2024-07-31 07448326 core:LicencesFranchises 2023-08-01 2024-07-31 07448326 core:PatentsTrademarksLicencesConcessionsSimilar 2023-08-01 2024-07-31 07448326 core:FurnitureFittings 2023-08-01 2024-07-31 07448326 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 07448326 core:LandBuildings 2023-08-01 2024-07-31 07448326 core:LandBuildings core:ShortLeaseholdAssets 2023-08-01 2024-07-31 07448326 countries:EnglandWales 2023-08-01 2024-07-31 07448326 2023-07-31 07448326 core:Goodwill 2023-07-31 07448326 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 07448326 core:FurnitureFittings 2023-07-31 07448326 core:LandBuildings core:ShortLeaseholdAssets 2023-07-31 07448326 2023-07-31 07448326 core:CurrentFinancialInstruments 2023-07-31 07448326 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07448326 core:Non-currentFinancialInstruments 2023-07-31 07448326 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 07448326 core:Goodwill 2023-07-31 07448326 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 07448326 core:FurnitureFittings 2023-07-31 07448326 core:LandBuildings core:ShortLeaseholdAssets 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 07448326

Bouverie News (Folkestone) Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Bouverie News (Folkestone) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Bouverie News (Folkestone) Limited

Company Information

Director

S Sood

Company secretary

N Sood

Registered office

Suite G
1 Elwick Road
Ashford
Kent
TN23 1PD

 

Bouverie News (Folkestone) Limited

(Registration number: 07448326)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

13,790

Tangible assets

5

-

33,258

 

-

47,048

Current assets

 

Stocks

-

55,425

Debtors

6

174,009

12,513

Cash at bank and in hand

 

11,675

46,129

 

185,684

114,067

Creditors: Amounts falling due within one year

7

(191,938)

(245,125)

Net current liabilities

 

(6,254)

(131,058)

Total assets less current liabilities

 

(6,254)

(84,010)

Creditors: Amounts falling due after more than one year

7

(26,801)

(51,981)

Net liabilities

 

(33,055)

(135,991)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(33,155)

(136,091)

Shareholders' deficit

 

(33,055)

(135,991)

 

Bouverie News (Folkestone) Limited

(Registration number: 07448326)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 April 2025
 

.........................................

S Sood
Director

 

Bouverie News (Folkestone) Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite G
1 Elwick Road
Ashford
Kent
TN23 1PD

Before it ceased to trade on 18 June 2024, the company's principal place of business was:

One Stop Shop
1-5 Watling Street
Chatham
Kent
ME5 7EP

These financial statements were authorised for issue by the director on 28 April 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 Section 1A of Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in pounds sterling, which is the company’s functional currency, rounded to the nearest whole pound.

Going concern

The financial statements have been prepared on a non-going concern basis. The company ceased trading on 18 June 2024.

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 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.

Goodwill

Purchased goodwill is initially recognised at cost at the date of acquisition and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life.

Intangible assets

Separately acquired intangible assets are stated in the balance sheet at cost less accumulated amortisation and accumulated impairment losses.

 

Bouverie News (Folkestone) Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

20% per annum, straight line basis

Franchise fees

20% per annum, straight line basis

Intangible assets are subject to an annual impairment review.

Tangible assets

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

Depreciation

Depreciation is charged on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property and improvements

15% per annum, straight line basis

Fixtures, fittings and equipment

20% per annum, straight line basis

Tangible assets are subject to an annual impairment review.

Taxation

When applicable, the tax expense for the accounting period will consist of current and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised only to the extent that it is likely that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax liabilities and, where recognised, assets are not discounted.

Operating 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 as incurred.

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 during the year, including the director, was 9 (2023 - 11).

 

Bouverie News (Folkestone) Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Franchise fee
 £

Total
£

Cost

At 1 August 2023

59,550

28,300

87,850

Disposals

(59,550)

(28,300)

(87,850)

At 31 July 2024

-

-

-

Amortisation

At 1 August 2023

50,618

23,442

74,060

Amortisation eliminated on disposals

(50,618)

(23,442)

(74,060)

At 31 July 2024

-

-

-

Carrying amount

At 31 July 2024

-

-

-

At 31 July 2023

8,932

4,858

13,790

5

Tangible assets

Short leasehold land, buildings and improvements
£

Fixtures and fittings
£

Total
£

Cost

At 1 August 2023

20,786

45,657

66,443

Disposals

(20,786)

(45,657)

(66,443)

At 31 July 2024

-

-

-

Depreciation

At 1 August 2023

10,710

22,475

33,185

Eliminated on disposals

(10,710)

(22,475)

(33,185)

At 31 July 2024

-

-

-

Carrying amount

At 31 July 2024

-

-

-

At 31 July 2023

10,076

23,182

33,258

 

Bouverie News (Folkestone) Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

-

12,500

Other debtors

174,009

13

 

174,009

12,513

Other debtors includes £80,000 (2023 £nil) due after more than 1 year.

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

30,558

46,429

Trade creditors

 

18,068

46,751

Taxation and social security

 

874

18,595

Accruals and deferred income

 

4,490

4,780

Other creditors

 

137,948

128,570

 

191,938

245,125

Creditors falling due within one year include bank borrowings and other creditors amounting to £18,493 (2023 - £44,178) which are secured by charges over all of the company's assets and undertaking.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

26,801

51,981

Creditors falling due after more than one year include bank borrowings amounting to £15,569 (2023 - £32,919) which are secured by charges over all of the company's assets and undertaking.

 

Bouverie News (Folkestone) Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank loan

26,801

51,981

Current loans and borrowings

2024
£

2023
£

Bank loan

30,558

32,688

Bank overdraft

-

13,741

30,558

46,429

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments in respect of operating leases not included in the balance sheet is £Nil (2023 - £60,417).

10

Related parties

At the balance sheet date, bank loans of £32,954 (2023 - £55,572), bank overdraft facilities of £40,000 (2023 - £40,000) and other obligations to the company's bankers of £1,108 (2023 - £7,784) were personally guaranteed by the director, Mr S Sood. Also at the balance sheet date, Mr Sood had personally guaranteed other creditors amounting to £nil (2023 - £4,565).