Stony Stratford Stores Limited - Accounts to registrar (filleted) - small 23.1.2

STONY STRATFORD STORES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTOR:

K N Jaffar

SECRETARY:

Mrs S Jaffar

REGISTERED OFFICE:

Kashgroup House

897 Silbury Boulevard

Milton Keynes

Buckinghamshire

MK9 3XJ

REGISTERED NUMBER:

06341460 (England and Wales)

ACCOUNTANTS:

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

-

81,130

Investments

6

-

100

1

81,231

CURRENT ASSETS

Stocks

-

81,204

Debtors

7

18,907

66,614

Cash at bank and in hand

-

12,849

18,907

160,667

CREDITORS

Amounts falling due within one year

8

133,238

373,983

NET CURRENT LIABILITIES

(114,331

)

(213,316

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(114,330

)

(132,085

)

PROVISIONS FOR LIABILITIES

-

657

NET LIABILITIES

(114,330

)

(132,742

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(114,430

)

(132,842

)

(114,330

)

(132,742

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th September 2023 and were signed by:

K N Jaffar - Director

1.	STATUTORY INFORMATION

Stony Stratford Stores Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets

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

Short leasehold - 20% on cost

Fixtures and fittings - 10% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2022

and 31st December 2022

1

NET BOOK VALUE

At 31st December 2022

1

At 31st December 2021

1

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1st January 2022

222,172

3,592

296,938

522,702

Disposals

(222,172

)

(3,592

)

(296,938

)

(522,702

)

At 31st December 2022

-

-

-

-

DEPRECIATION

At 1st January 2022

157,498

457

283,617

441,572

Charge for year

43,062

360

2,590

46,012

Eliminated on disposal

(200,560

)

(817

)

(286,207

)

(487,584

)

At 31st December 2022

-

-

-

-

NET BOOK VALUE

At 31st December 2022

-

-

-

-

At 31st December 2021

64,674

3,135

13,321

81,130

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2022

100

Disposals

(100

)

At 31st December 2022

-

NET BOOK VALUE

At 31st December 2022

-

At 31st December 2021

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Trade debtors

511

18,542

Amounts owed by group undertakings

-

180

Other debtors

3,247

(795

)

Tax

10,665

-

VAT

2,318

2,682

Prepayments and accrued income

2,166

46,005

18,907

66,614

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Bank loans and overdrafts

109,096

-

Trade creditors

12,998

179,211

Amounts owed to group undertakings

-

163,349

Corporation tax

-

10,665

Social security and other taxes

2,973

3,982

Other creditors

320

813

Net wages outstanding

6,501

14,963

Accrued expenses

1,350

1,000

133,238

373,983

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stony Stratford Stores Limited for the year ended 31st December 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Stony Stratford Stores Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stony Stratford Stores Limited and state those matters that we have agreed to state to the director of Stony Stratford Stores Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stony Stratford Stores Limited and its director for our work or for this report.

It is your duty to ensure that Stony Stratford Stores Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stony Stratford Stores Limited. You consider that Stony Stratford Stores Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stony Stratford Stores Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

29th September 2023