Stony Stratford Stores Ltd - Accounts to registrar (filleted) - small 17.3

STONY STRATFORD STORES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH JUNE 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

K N Jaffar

SECRETARY:

Mrs S Jaffar

REGISTERED OFFICE:

5 Cofferidge Close

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BY

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

20,162

35,150

Investments

6

100

100

20,263

35,251

CURRENT ASSETS

Stocks

102,816

115,553

Debtors

7

428,781

1,329,620

Cash in hand

36,343

28,217

567,940

1,473,390

CREDITORS

Amounts falling due within one year

8

483,335

386,672

NET CURRENT ASSETS

84,605

1,086,718

TOTAL ASSETS LESS CURRENT LIABILITIES

104,868

1,121,969

PROVISIONS FOR LIABILITIES

657

657

NET ASSETS

104,211

1,121,312

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

104,111

1,121,212

104,211

1,121,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30th March 2018 and were signed by:

K N Jaffar - Director

1.	STATUTORY INFORMATION

Stony Stratford Stores Ltd 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 nil 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.

Stocks that recognised in cost of sales during the year as an expense totalled £1,889,896. (30/6/16; £2,176,284)

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 30 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st July 2016

and 30th June 2017

1

NET BOOK VALUE

At 30th June 2017

1

At 30th June 2016

1

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1st July 2016

6,865

275,888

282,753

Additions

-

14,000

14,000

At 30th June 2017

6,865

289,888

296,753

DEPRECIATION

At 1st July 2016

6,864

240,739

247,603

Charge for year

-

28,988

28,988

At 30th June 2017

6,864

269,727

276,591

NET BOOK VALUE

At 30th June 2017

1

20,161

20,162

At 30th June 2016

1

35,149

35,150

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st July 2016

and 30th June 2017

100

NET BOOK VALUE

At 30th June 2017

100

At 30th June 2016

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/17

30/6/16

£

£

Trade debtors

19,656

3,432

Amounts owed by participating interests

327,104

1,265,634

Other debtors

13,389

12,064

VAT

1,214

3,033

Prepayments and accrued income

67,418

45,457

428,781

1,329,620

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/17

30/6/16

£

£

Bank loans and overdrafts

213,659

93,351

Trade creditors

260,147

262,812

Amounts owed to participating interests

-

26,000

Social security and other taxes

4,280

1,226

Other creditors

2,049

1,483

Accrued expenses

3,200

1,800

483,335

386,672

9.	ULTIMATE PARENT COMPANY

The ultimate parent company at the balance sheet date was Kashgroup Limited. Their registered office is

Budgens, 5 Cofferidge Close, Stony Stratford, Milton Keynes, MK11 1BY.

Copies of the financial statements of Kashgroup Limited are available from Companies House.

10.	FIRST YEAR ADOPTION

No transitional adjustments were deemed necessary to equity or retained earnings on transition to FRS 102 1A.

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 Ltd for the year ended 30th June 2017 which comprise the Statement of

Comprehensive Income, Balance Sheet, 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 Ltd 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 Ltd and state those matters that we have agreed to state to the director of Stony Stratford Stores Ltd 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 Ltd and its director for our work or for this report.

It is your duty to ensure that Stony Stratford Stores Ltd 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 loss of Stony Stratford Stores Ltd. You consider that Stony Stratford Stores Ltd 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 Ltd. 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

Date: .............................................