REGISTERED NUMBER: 07255318 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Shurlock Trading Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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 2018 and were signed by:

Mr JR Patel - Director

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.

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

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