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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2021 | 2020 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 |
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Current assets | |||||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 5 | ( |
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Net current assets |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Ali Aydemir | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Government grants | ||||||||
Grants received during the year from the government are recognised as other income. This income is recognised when the application is made to the local authority after receiving confirmation of entitlement from them. There are two types of grants received in the year: 1) Coronavirus Job Retention Scheme (CJRS): CJRS is recognised on a straight line basis, accrued over the furlough period for each relevant employee on the PAYE payroll scheme. There would either be a debtor, a deferred income or no balance due recognised depending upon when the cash was received from HMRC. 2) The Small Business Grant Fund (SBGF): SBGF is recognised on an receipt basis. Cash payments were received from local council to which the company usually pays business rates. |
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Tangible fixed assets | ||||||||
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Fixtures, fittings, tools and equipment | 15% reducing balance | |||||||
Motor vehicles | 15% reducing balance | |||||||
Stocks | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Provisions | ||||||||
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Leased assets | ||||||||
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Functional and presentation currency | ||||||||
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency. | ||||||||
Employee benefits | ||||||||
Short-term employee benefits Short-term employee benefits are recognised as an expense in the period in which they are incurred. Post-employment defined contribution plans Amounts in respect of defined contributions plans are recognised as an expense as they are incurred. Termination benefits Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. |
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Going concern | ||||||||
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and directors and has adequate resources to continue in operational existence for the foreseeable future. | ||||||||
2 | Employees | 2021 | 2020 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Tangible fixed assets | |||||||
Fixtures, fittings, tools and equipment | Motor vehicles | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 April 2020 |
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At 31 March 2021 |
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Depreciation | ||||||||
At 1 April 2020 |
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Charge for the year |
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At 31 March 2021 |
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Net book value | ||||||||
At 31 March 2021 |
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At 31 March 2020 |
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4 | Debtors | 2021 | 2020 | |||||
£ | £ | |||||||
Other debtors |
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5 | Creditors: amounts falling due within one year | 2021 | 2020 | |||||
£ | £ | |||||||
Trade creditors |
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Taxation and social security costs |
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Other creditors |
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6 | Related party transactions | |||||||
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7 | Controlling party | |||||||
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8 | Other information | |||||||
Coldean Local Store Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
3a Park Road | ||||||||
Brighton | ||||||||
East Sussex | ||||||||
BN1 9AA |