Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-313falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2024-01-01false3truefalse 6769797 2024-01-01 2024-12-31 6769797 2023-01-01 2023-12-31 6769797 2024-12-31 6769797 2023-12-31 6769797 c:Director1 2024-01-01 2024-12-31 6769797 d:FurnitureFittings 2024-01-01 2024-12-31 6769797 d:FurnitureFittings 2024-12-31 6769797 d:FurnitureFittings 2023-12-31 6769797 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 6769797 d:CurrentFinancialInstruments 2024-12-31 6769797 d:CurrentFinancialInstruments 2023-12-31 6769797 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 6769797 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 6769797 d:ShareCapital 2024-12-31 6769797 d:ShareCapital 2023-12-31 6769797 d:RetainedEarningsAccumulatedLosses 2024-12-31 6769797 d:RetainedEarningsAccumulatedLosses 2023-12-31 6769797 c:FRS102 2024-01-01 2024-12-31 6769797 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 6769797 c:FullAccounts 2024-01-01 2024-12-31 6769797 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 6769797 2 2024-01-01 2024-12-31 6769797 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 6769797









100 PERCENT STORES LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
100 PERCENT STORES LTD
REGISTERED NUMBER: 6769797

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,398
8,017

  
11,398
8,017

Current assets
  

Debtors: amounts falling due within one year
 5 
84,688
169,014

Cash at bank and in hand
 6 
509,771
186,584

  
594,459
355,598

Creditors: amounts falling due within one year
 7 
(433,035)
(177,220)

Net current assets
  
 
 
161,424
 
 
178,378

Total assets less current liabilities
  
172,822
186,395

  

Net assets
  
172,822
186,395


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
172,821
186,394

  
172,822
186,395


Page 1

 
100 PERCENT STORES LTD
REGISTERED NUMBER: 6769797
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 August 2025.




T Harris
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
100 PERCENT STORES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is limited by shares and incorporated in England. The address of the registered office and
principal place of business is given in the company information page of these financial statements.
The principal activity of the company is the promotion of recording artists via a record label.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
100 PERCENT STORES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
100 PERCENT STORES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
100 PERCENT STORES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Director
1
1



Staff
2
2

3
3

Page 6

 
100 PERCENT STORES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2024
24,501


Additions
7,182



At 31 December 2024

31,683



Depreciation


At 1 January 2024
16,485


Charge for the year on owned assets
3,800



At 31 December 2024

20,285



Net book value



At 31 December 2024
11,398



At 31 December 2023
8,017


5.


Debtors

2024
2023
£
£


Trade debtors
5,219
8,303

Other debtors
2,207
130,659

Prepayments and accrued income
77,262
30,052

84,688
169,014



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
509,771
186,584

509,771
186,584


Page 7

 
100 PERCENT STORES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,856
5,830

Amounts owed to other participating interests
9,904
5,544

Corporation tax
26,015
41,515

Other taxation and social security
30,259
411

Other creditors
45,688
2,061

Accruals and deferred income
316,313
121,859

433,035
177,220


Included in Creditors due within one year is £9,904 (2023: £5,544) owed to 100 Percent Records Ltd, a company which is owned and controlled by T Harris, the director.


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,143 (2023 - £814). Contributions totalling £575 (2023 - £127) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8