Shurlock Trading Ltd - Accounts to registrar (filleted) - small 18.2

Shurlock Trading Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 07255318(England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2018

for

Shurlock Trading Ltd

Shurlock Trading Ltd (Registered number: 07255318)

Contents of the Financial Statements
for the Year Ended 31 May 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shurlock Trading Ltd

Company Information
for the Year Ended 31 May 2018







DIRECTOR: Mr JR Patel





REGISTERED OFFICE: 38 Shurlock Avenue
Swanley
Kent
BR8 7ST





REGISTERED NUMBER: 07255318(England and Wales)





ACCOUNTANTS: Aequitas
Chartered Accountants
Elthorne Gate
64 High Street
Pinner
HA5 5QA

Shurlock Trading Ltd (Registered number: 07255318)

Balance Sheet
31 May 2018

31.5.18 31.5.17
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 62,000 70,000
Tangible assets 5 1,569 1,972
63,569 71,972

CURRENT ASSETS
Stocks 6 33,510 32,910
Debtors 7 4,375 4,375
Cash at bank and in hand 55,432 26,071
93,317 63,356
CREDITORS
Amounts falling due within one year 8 81,651 79,478
NET CURRENT ASSETS/(LIABILITIES) 11,666 (16,122 )
TOTAL ASSETS LESS CURRENT LIABILITIES 75,235 55,850

PROVISIONS FOR LIABILITIES 7 9
NET ASSETS 75,228 55,841

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 75,226 55,839
75,228 55,841

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 May 2018 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.

Shurlock Trading Ltd (Registered number: 07255318)

Balance Sheet - continued
31 May 2018


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 22 October 2018and were signed by:





Mr JR Patel- Director


Shurlock Trading Ltd (Registered number: 07255318)

Notes to the Financial Statements
for the Year Ended 31 May 2018


1. STATUTORY INFORMATION

Shurlock Trading 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 presentation currency of the financial statements is the Pound Sterling (£) which is rounded to
nearest £1.

Turnover
Turnover represents revenue generated from the general convenience stores and 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 discount, settlement discounts and volume rebates.

Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight
line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial
year following the acquisition and in other periods if events or changes in circumstances indicate that
the carrying value may not be recoverable.

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being
amortised evenly over its estimated useful life of fifteen 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 - Over the lease term
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete
and slow moving items.


Shurlock Trading Ltd (Registered number: 07255318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2018


2. ACCOUNTING POLICIES - continued
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 3(2017 - 3) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2017
and 31 May 2018 120,000
AMORTISATION
At 1 June 2017 50,000
Amortisation for year 8,000
At 31 May 2018 58,000
NET BOOK VALUE
At 31 May 2018 62,000
At 31 May 2017 70,000

Shurlock Trading Ltd (Registered number: 07255318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2018


5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 June 2017
and 31 May 2018 3,938 109 4,047
DEPRECIATION
At 1 June 2017 2,011 64 2,075
Charge for year 394 9 403
At 31 May 2018 2,405 73 2,478
NET BOOK VALUE
At 31 May 2018 1,533 36 1,569
At 31 May 2017 1,927 45 1,972

6. STOCKS
31.5.18 31.5.17
£    £   
Stocks 33,510 32,910

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.18 31.5.17
£    £   
Other debtors 4,375 4,375

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.18 31.5.17
£    £   
Trade creditors 2,116 2,061
Taxation and social security 4,483 5,975
Other creditors 75,052 71,442
81,651 79,478