REGISTERED NUMBER: 01775698 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Sack Store Limited

Page

Statement of financial position

1

to

2

Notes to the financial statements

3

to

9

Fixed assets

Intangible assets

5

-

-

Tangible assets

6

1,084,855

1,068,773

Investments

7

2

2

1,084,857

1,068,775

Current assets

Stocks

8

401,352

391,220

Debtors

9

240,289

258,021

Cash at bank and in hand

103,639

167,340

745,280

816,581

Creditors

Amounts falling due within one year

10

481,066

484,879

Net current assets

264,214

331,702

Total assets less current liabilities

1,349,071

1,400,477

Creditors

Amounts falling due after more than one year

11

(10,125

)

(16,838

)

Provisions for liabilities

(23,873

)

(20,275

)

Net assets

1,315,073

1,363,364

Capital and reserves

Called up share capital

14

47,000

47,000

Share premium

2,000

2,000

Retained earnings

1,266,073

1,314,364

Shareholders' funds

1,315,073

1,363,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2025 and were signed by:

C R Isaac - Director

1.	Statutory information

Sack Store Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01775698

Registered office:

Old Sack Store

Redstone Industrial Estate

Redstone Road

Boston

Lincolnshire

PE21 8EA

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer & office equipmt

-

33% on reducing balance

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

The cost of tangible asset includes directly attributable incremental costs incurred in their acquisition and installation.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

4.	Employees and directors

The average number of employees during the year was 25 (2023 - 33 ) .

5.	Intangible fixed assets

Development

Goodwill

costs

Totals

£

£

£

Cost

At 1 January 2024

and 31 December 2024

85,000

6,185

91,185

Amortisation

At 1 January 2024

and 31 December 2024

85,000

6,185

91,185

Net book value

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

6.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Cost

At 1 January 2024

1,175,157

82,613

134,718

Additions

6,395

-

15,027

At 31 December 2024

1,181,552

82,613

149,745

Depreciation

At 1 January 2024

187,484

64,276

103,918

Charge for year

4,707

4,584

6,709

At 31 December 2024

192,191

68,860

110,627

Net book value

At 31 December 2024

989,361

13,753

39,118

At 31 December 2023

987,673

18,337

30,800

Computer

Motor

& office

vehicles

equipmt

Totals

£

£

£

Cost

At 1 January 2024

119,925

26,173

1,538,586

Additions

24,300

450

46,172

At 31 December 2024

144,225

26,623

1,584,758

Depreciation

At 1 January 2024

93,724

20,411

469,813

Charge for year

12,119

1,971

30,090

At 31 December 2024

105,843

22,382

499,903

Net book value

At 31 December 2024

38,382

4,241

1,084,855

At 31 December 2023

26,201

5,762

1,068,773

7.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1 January 2024

and 31 December 2024

2

Net book value

At 31 December 2024

2

At 31 December 2023

2

8.

Stocks

2024

2023

£

£

Stocks

401,352

391,220

9.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

61,720

106,793

Bad debts & credit notes

provision

(8,890

)

(14,589

)

Amounts owed by participating interests

103,077

93,624

Other Debtors

64,294

35,568

Directors' loan accounts

19,267

35,498

Prepayments

821

1,127

240,289

258,021

10.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts (see note 12)

6,395

9,808

Payments on account

21,464

11,365

Trade creditors

22,710

116,353

Amounts owed to participating interests

289,230

202,580

Corporation tax

6,611

9,407

Social security and other taxes

5,521

5,098

VAT

49,157

27,915

Other creditors

1,408

565

Wages & salaries control

29,561

27,355

Pension Creditor

1,385

1,247

Other Creditors - insurance

claim

32,427

65,062

Accrued expenses

15,197

8,124

481,066

484,879

11.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans (see note 12)

10,125

16,838

12.

Loans

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

6,395

9,808

Amounts falling due between two and five years:

Bank loans - 2-5 years

10,125

16,838

13.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

16,520

26,646

Bounce Back Loan is guaranteed by the Government. Interest at 2.5% per annum is charged.

14.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

47,000

Ordinary shares

£1

47,000

47,000

15.	Capital commitments

2024

2023

£

£

Contracted but not provided for in the

financial statements

50,222

-

The commitments figure represents car hire contracts for two vehicles.

16.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

C R Isaac

Balance outstanding at start of year

35,498

46,533

Amounts advanced

56,007

52,965

Amounts repaid

(72,238

)

(64,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

19,267

35,498