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Registration number: 04304859

Green Road Off-Licence/Newsagents Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Green Road Off-Licence/Newsagents Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Green Road Off-Licence/Newsagents Ltd

Company Information

Director

ME Cleasby

Company secretary

J Cleasby

Registered office

25 Windermere Road
Kendal
Cumbria
LA9 4QJ

Accountants

Stables Thompson & Briscoe Limited
Chartered Accountants & Business AdvisersLowther House
Lowther Street
Kendal
LA9 4DX

 

Green Road Off-Licence/Newsagents Ltd

(Registration number: 04304859)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

99

250

Current assets

 

Stocks

17,400

18,083

Debtors

6

7,133

5,127

Cash at bank and in hand

 

109,722

102,898

 

134,255

126,108

Creditors: Amounts falling due within one year

7

(118,259)

(109,191)

Net current assets

 

15,996

16,917

Total assets less current liabilities

 

16,095

17,167

Provisions for liabilities

(28)

(48)

Net assets

 

16,067

17,119

Capital and reserves

 

Called up share capital

12

12

Retained earnings

16,055

17,107

Shareholders' funds

 

16,067

17,119

For the financial year ending 31 December 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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 May 2025
 

.........................................
ME Cleasby
Director

 

Green Road Off-Licence/Newsagents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
25 Windermere Road
Kendal
Cumbria
LA9 4QJ

These financial statements were authorised for issue by the director on 14 May 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 in the countries where the company operates and generates taxable income.

 

Green Road Off-Licence/Newsagents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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

Plant and machinery

10% 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:

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.

3

Staff numbers

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

 

Green Road Off-Licence/Newsagents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

36,000

36,000

At 31 December 2024

36,000

36,000

Amortisation

At 1 January 2024

36,000

36,000

At 31 December 2024

36,000

36,000

Carrying amount

At 31 December 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

6,619

6,619

At 31 December 2024

6,619

6,619

Depreciation

At 1 January 2024

6,369

6,369

Charge for the year

151

151

At 31 December 2024

6,520

6,520

Carrying amount

At 31 December 2024

99

99

At 31 December 2023

250

250

6

Debtors

Current

2024
£

2023
£

Trade debtors

7,039

4,978

Prepayments

94

149

 

7,133

5,127

 

Green Road Off-Licence/Newsagents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

534

1,522

Taxation and social security

5,666

6,365

Accruals and deferred income

10,239

9,636

Other creditors

101,820

91,668

118,259

109,191