St. Barnabas Shops Limited - Accounts to registrar (filleted) - small 18.2
St. Barnabas Shops Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
ST. BARNABAS SHOPS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
ST. BARNABAS SHOPS LIMITED (REGISTERED NUMBER: 01582408) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 | to | 7 |
ST. BARNABAS SHOPS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
4 Henley Way |
Doddington Road |
Lincoln |
Lincolnshire |
LN6 3QR |
BANKERS: |
225 High Street |
Lincoln |
Lincolnshire |
LN2 1AZ |
SOLICITORS: |
St Swithin's Court |
1 Flavin Road |
Lincoln |
LN2 4GR |
ST. BARNABAS SHOPS LIMITED (REGISTERED NUMBER: 01582408) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
ST. BARNABAS SHOPS LIMITED (REGISTERED NUMBER: 01582408) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
1. | STATUTORY INFORMATION |
St. Barnabas Shops Limited is a |
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical |
accounting estimates. It also requires management to exercise judgment in applying the Company's accounting |
policies. |
The following accounting policies have been applied. |
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and |
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or |
receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also |
be met before revenue is recognised: |
Sale of goods |
Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
- the Company has transferred the significant risks and rewards of ownership to the buyer; |
- the Company retains neither continuing managerial involvement to the degree usually associated with |
ownership nor effective control over the goods sold; |
- the amount of revenue can be measured reliably; |
- it is probably that the Company will receive the consideration due under the transaction; and |
- the costs incurred or to be incurred in respect of the transaction con be measured reliably. |
Recycling income |
Revenue from the collection of rags is recognised when the entity is notified of the amount receivable. |
ST. BARNABAS SHOPS LIMITED (REGISTERED NUMBER: 01582408) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any |
accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the |
assets to the location and condition necessary for it to be capable of operating in the manner intended by |
management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful |
lives, using the straight-line method. |
Depreciation is provided on the following basis: |
Motor vehicles | - 25% straight line |
Fixtures & fittings | - 10% straight line |
Shop refurbishments | - 20% straight line |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if |
appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are |
recognised in the Statement of Comprehensive Income. |
Stocks |
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to |
complete and sell. Cost is based on the cost of purchase on a first in, first out basis. |
At each statement of financial position date, stocks are assessed for impairment. If stock is impaired, the |
carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss in |
recognised immediately in the income statement. |
Current and deferred taxation |
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of |
Comprehensive Income, except that a charge attributable to an item of income and expense recognised as |
other comprehensive income or an item recognised directly in equity is also recognised in other |
comprehensive income or directly in equity retrospectively. |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or |
substantively enacted by the Statement of Financial Position date in the countries where the Company |
operates and generates income. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed |
by the Statement of Financial position date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances |
have been met. |
Deferred tax balances are not recognised in respect of permanent differences except in respect of business |
combinations, when deferred tax is recognised on the differences between the fair values od assets acquired |
and the future tax deductions available for them and the differences between the fair values of liabilities |
acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that |
have been enacted or substantively enacted by the year end date. |
ST. BARNABAS SHOPS LIMITED (REGISTERED NUMBER: 01582408) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The Company operates a defined contribution plan for its employees. A defined contribution plan is a plan |
under which the Company pays fixed contributions into a separate entity. Once the contributions have been |
paid the Company has no further payment obligations. |
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall |
due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of |
the plan are held separately from the Company in independently administered funds. |
Taxable profits transferred to the parent entity, a registered charity, are recognised as distributions from |
equity when the Company has made an irrecoverable commitment to the Parent to pay taxable profits. |
Provision for liabilities |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation |
that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of |
the amount of the obligation. |
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the |
Company becomes aware of the obligation, and are measured at the best estimate at the Statement of |
Financial Position date of the expenditure required to settle the obligation, taking into account relevant risk |
and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the Statement of Financial |
Position. |
Operating leases: the Company as lessee |
Rentals paid under operating leases are charges to the Statement of Comprehensive Income on a straight line |
basis over the lease term. |
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line |
basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's |
benefit for the use of the leased asset. |
The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows |
lease incentives on leases entered into before the date of transition to the standard 01 April 2015 to continue |
to be charged over the period to the first market rent review rather than the term of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ST. BARNABAS SHOPS LIMITED (REGISTERED NUMBER: 01582408) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
ST. BARNABAS SHOPS LIMITED (REGISTERED NUMBER: 01582408) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
The company is controlled by St Barnabas Hospice Trust (Lincolnshire). |
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is St |
Barnabas Hospice Trust (Lincolnshire). Consolidated accounts are available from 36 Nettleham Road, Lincoln. |
In the opinion of the directors this is the company's ultimate parent company. |
11. | PENSION COMMITMENTS |
The company contributes to money purchase pension schemes, the assets of which are held separately from |
those of the company in independently administered funds. The pension cost charge for the year is shown in |
note 6. Unpaid contributions at the year end amounted to £4,324 (2017 £44,213). |