Registration number:
Somerford Mini Limited
for the Year Ended 30 November 2025
Pages for filing with Registrar
Somerford Mini Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Somerford Mini Limited
Company Information
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Directors |
P E Hines N F Hines |
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Registered office |
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Registered number |
04578297 |
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Accountant |
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Somerford Mini Limited
(Registration number: 04578297)
Balance Sheet as at 30 November 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
13,324 |
15,989 |
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Tangible assets |
385,342 |
381,986 |
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398,666 |
397,975 |
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Current assets |
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Stocks |
770,728 |
784,789 |
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Debtors |
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48,155 |
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Cash at bank and in hand |
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84,553 |
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963,539 |
917,497 |
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Creditors: Amounts falling due within one year |
(159,255) |
(142,782) |
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Net current assets |
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774,715 |
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Total assets less current liabilities |
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1,172,690 |
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Creditors: Amounts falling due after more than one year |
(248,188) |
(285,100) |
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Provisions for liabilities |
(11,930) |
(9,982) |
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Net assets |
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877,608 |
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Capital and reserves |
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Called up share capital |
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100 |
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Profit and loss account |
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877,508 |
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Total equity |
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877,608 |
Somerford Mini Limited
(Registration number: 04578297)
Balance Sheet as at 30 November 2025 (continued)
For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
Director
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025
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Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis. Given the company's profitability and financial resources, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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2 |
Accounting policies (continued) |
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 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 the sum of 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.
Deferred tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
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Leasehold land and buildings |
Straight line over 50 years |
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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2 |
Accounting policies (continued) |
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Fixtures, fittings and equipment |
25% on reducing balance and straight line over 3 years |
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Motor vehicles |
25% on reducing balance |
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Plant and machinery |
25% on reducing balance |
Intangible fixed assets
Separately acquired intangible assets are shown at historical cost.
Intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Website development |
Straight-line over 10 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are recognised initially at the transaction price. They are subsequently measured less any 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.
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.
Trade creditors
Trade creditors are recognised at the transaction price.
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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2 |
Accounting policies (continued) |
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.
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.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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Taxation |
Deferred tax
Deferred tax assets and liabilities
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2025 |
Liability |
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Difference between accumulated depreciation and amortisation and capital allowances |
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2024 |
Liability |
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Difference between accumulated depreciation and amortisation and capital allowances |
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Intangible assets |
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Website development |
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Cost |
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At 1 December 2024 |
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At 30 November 2025 |
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Amortisation |
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At 1 December 2024 |
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Amortisation charge |
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At 30 November 2025 |
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Carrying amount |
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At 30 November 2025 |
13,324 |
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At 30 November 2024 |
15,989 |
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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Tangible fixed assets |
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Leasehold land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
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Cost |
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At 1 December 2024 |
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Additions |
- |
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- |
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At 30 November 2025 |
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Depreciation |
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At 1 December 2024 |
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Charge for the year |
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At 30 November 2025 |
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Carrying amount |
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At 30 November 2025 |
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At 30 November 2024 |
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Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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6 |
Tangible fixed assets (continued) |
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Total |
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Cost |
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At 1 December 2024 |
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Additions |
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At 30 November 2025 |
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Depreciation |
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At 1 December 2024 |
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Charge for the year |
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At 30 November 2025 |
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Carrying amount |
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At 30 November 2025 |
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At 30 November 2024 |
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Included within the net book value of land and buildings above is £340,165 (2024 - £348,703) in respect of long leasehold land and buildings.
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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Stocks |
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2025 |
2024 |
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Finished goods and goods for resale |
770,728 |
784,789 |
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Debtors: amounts falling due within one year |
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2025 |
2024 |
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Trade debtors |
47,699 |
30,814 |
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Other debtors |
2,330 |
4,423 |
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VAT |
- |
32 |
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Prepayments and accrued income |
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12,886 |
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48,155 |
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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Creditors |
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Note |
2025 |
2024 |
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Bank loans and overdrafts |
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10,538 |
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Trade creditors |
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66,026 |
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Corporation tax |
23,509 |
28,890 |
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Social security and other taxes |
8,723 |
5,076 |
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VAT |
3,482 |
- |
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Other creditors |
2,068 |
6,456 |
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Accruals and deferred income |
7,440 |
7,796 |
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Director's loan account |
18,000 |
18,000 |
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159,255 |
142,782 |
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Due after one year |
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Bank loans |
150,380 |
164,794 |
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Director's loan account |
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120,306 |
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248,188 |
285,100 |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Somerford Mini Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)
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Loans and borrowings |
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2025 |
2024 |
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Current loans and borrowings |
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Bank loan |
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10,538 |
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Director's loan account |
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18,000 |
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31,045 |
28,538 |
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2025 |
2024 |
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Non-current loans and borrowings |
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Bank loan |
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164,794 |
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Director's loan account |
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120,306 |
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248,188 |
285,100 |
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Bank borrowings
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The bank loan is secured by a legal charge over the company's leasehold property as well as a personal guarantee given by the director, limited to £90,000.
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The balance on the director’s loan account is subject to a repayment agreement requiring monthly repayments of £1,500. As a result, £18,000 (2024: £18,000) of the balance is classified as falling due within one year.