Company registration number: 10945657
Unaudited financial statements
for the year ended 31 August 2024
for
P&P Convenience Stores Ltd
Pages for filing with the Registrar
Company registration number: 10945657
P&P Convenience Stores Ltd
Balance sheet
as at 31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 52,650 58,500
Tangible assets 5 361,902 357,226
414,552 415,726
Current assets
Stocks 33,536 34,195
Debtors 386,342 188,887
Investments 24,850 -
Cash at bank and in hand 45,516 34,873
490,244 257,955
Creditors: amounts falling due within one
year
(462,206) (369,855)
Net current assets/(liabilities) 28,038 (111,900)
Total assets less current liabilities 442,590 303,826
Creditors: Amounts falling due after more
than one year
(307,495) (176,856)
NET ASSETS 135,095 126,970
Capital and reserves
Called up share capital 2 2
Profit and loss account 135,093 126,968
TOTAL EQUITY 135,095 126,970
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 August 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 10945657
P&P Convenience Stores Ltd
Balance sheet - continued
as at 31 August 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 29 May 2025 and signed on its behalf by:
Mr T Chanthirakumar, Director
29 May 2025
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P&P Convenience Stores Ltd
Notes to the financial statements
for the year ended 31 August 2024
1 Company information
P&P Convenience Stores Ltd is a private company registered in England and Wales. Its registered number is 10945657. The company is limited by shares. Its registered office is 35 Litton Road, Mansfield Woodhouse, Mansfield, Nottinghamshire, NG19 9SB.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill - 10% reducing balance
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Land & Building - 0% straight line
Plant and machinery etc.:
Plant & Machinery - 25% reducing balance
Fixture & Fitting - 30% reducing balance
Motor Vehicle - 20% reducing balance
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P&P Convenience Stores Ltd
Notes to the financial statements - continued
for the year ended 31 August 2024
2 Accounting policies - continued
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 3 (2023 - 3).
4 Intangible assets
Goodwill
£
Cost
At 1 September 2023 65,000
At 31 August 2024 65,000
Amortisation
At 1 September 2023 6,500
Charge for year 5,850
At 31 August 2024 12,350
Net book value
At 31 August 2024 52,650
At 31 August 2023 58,500
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P&P Convenience Stores Ltd
Notes to the financial statements - continued
for the year ended 31 August 2024
5 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 September 2023 298,961 91,425 390,386
Additions - 26,566 26,566
At 31 August 2024 298,961 117,991 416,952
Depreciation
At 1 September 2023 - 33,160 33,160
Charge for year - 21,890 21,890
At 31 August 2024 - 55,050 55,050
Net book value
At 31 August 2024 298,961 62,941 361,902
At 31 August 2023 298,961 58,265 357,226
If Land and Building had not been revalued, Property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes are in fair value would have been included at the following historical cost:
2024 2023
£ £
Cost 298,961 -
Accumulated depreciation - -
6 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023.
2024 2023
£ £
Thanabalasingam Chanthirakumar
Balance outstanding at start of year 456,457 -
Balance outstanding at end of year 456,457 -
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