Registered number
10971991
NS Convenience Store Limited
Filleted Accounts
30 September 2024
NS Convenience Store Limited
Registered number: 10971991
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 256,185 245,249
Current assets
Stocks 69,000 66,900
Debtors 4 4,329 34,914
Cash at bank and in hand 11,898 12,538
85,227 114,352
Creditors: amounts falling due within one year 5 (32,068) (104,707)
Net current assets 53,159 9,645
Total assets less current liabilities 309,344 254,894
Creditors: amounts falling due after more than one year 6 (162,404) (116,838)
Net assets 146,940 138,056
Capital and reserves
Called up share capital 100 100
Profit and loss account 146,840 137,956
Shareholders' funds 146,940 138,056
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sivajini Emmanuel
Director
Approved by the board on 27 June 2025
NS Convenience Store Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Fixtures, fittings and plants Motor vehicles Total
£ £ £
Cost
At 1 October 2023 332,635 26,410 359,045
Additions 42,145 - 42,145
At 30 September 2024 374,780 26,410 401,190
Depreciation
At 1 October 2023 110,275 3,521 113,796
Charge for the year 25,927 5,282 31,209
At 30 September 2024 136,202 8,803 145,005
Net book value
At 30 September 2024 238,578 17,607 256,185
At 30 September 2023 222,360 22,889 245,249
4 Debtors 2024 2023
£ £
Trade debtors 4,329 34,914
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 56,516
Taxation and social security costs 15,187 12,784
Other creditors 16,881 35,407
32,068 104,707
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 162,404 116,838
7 Other information
NS Convenience Store Limited is a private company limited by shares and incorporated in England. Its registered office is:
101 Earlsworth Road
Ashford
Kent
TN24 0GU
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