Company registration number 02929244 (England and Wales)
MK COMMUNITY SHOP (WESTCROFT) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
MK COMMUNITY SHOP (WESTCROFT) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MK COMMUNITY SHOP (WESTCROFT) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,124
3,405
Current assets
Debtors
5
9,560
14,098
Cash at bank and in hand
33,398
24,164
42,958
38,262
Creditors: amounts falling due within one year
6
(36,674)
(23,455)
Net current assets
6,284
14,807
Total assets less current liabilities
9,408
18,212
Creditors: amounts falling due after more than one year
7
(6,423)
(6,423)
Net assets
2,985
11,789
Capital and reserves
Called up share capital
6
6
Profit and loss reserves
2,979
11,783
Total equity
2,985
11,789

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 24 May 2026 and are signed on its behalf by:
Ms J D Myers
Director
Company Registration No. 02929244
MK COMMUNITY SHOP (WESTCROFT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

MK Community Shop (Westcroft) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 161 Fishermead Boulevard, Fishermead, Milton Keynes, Buckinghamshire, United Kingdom, MK6 2AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% Reducing balance method
Fixtures and fittings
25% Reducing balance method
Computers
25% Reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MK COMMUNITY SHOP (WESTCROFT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
4
4
MK COMMUNITY SHOP (WESTCROFT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2025
2,828
14,968
1,157
18,953
Additions
-
0
-
0
729
729
At 31 March 2026
2,828
14,968
1,886
19,682
Depreciation and impairment
At 1 April 2025
1,747
12,998
802
15,547
Depreciation charged in the year
270
493
248
1,011
At 31 March 2026
2,017
13,491
1,050
16,558
Carrying amount
At 31 March 2026
811
1,477
836
3,124
At 31 March 2025
1,081
1,970
354
3,405
5
Debtors
2026
2025
Amounts falling due within one year:
£
£
Other debtors
937
1,227
Prepayments and accrued income
8,623
12,871
9,560
14,098
6
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
615
7,013
Corporation tax
(42)
(42)
Other taxation and social security
1,741
239
Other creditors
32,805
10,000
Accruals and deferred income
1,555
6,245
36,674
23,455
7
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
6,423
6,423
MK COMMUNITY SHOP (WESTCROFT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
8
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,345
993

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension contributions outstanding at the year end were £236.

9
Operating lease commitments
Lessee

The current lease for rent expired on 31 st March 2022 and as it was contracted out of the Landlord and Tenant Act 1954, MK Community Shop Westcroft Limited have been occupying under an implied tenancy at will on the same terms.

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