|
|
2020 |
|
2019 |
|
|
£ |
£ |
|
£ |
£ |
Fixed assets |
|
|
9,474 |
|
|
12,271 |
Current assets |
|
20,341 |
|
|
19,510 |
|
Prepayments and accrued income |
|
442 |
|
|
0 |
|
Creditors: amount falling due within one year |
|
(15,170) |
|
|
(21,947) |
|
Net current assets
|
|
|
5,613
|
|
|
(2,437)
|
Total assets less current liabilities
|
|
|
15,087 |
|
|
9,834 |
Creditors: amount falling due after more than one year |
|
|
(14,963) |
|
|
(5,538) |
Provisions for liabilities |
|
|
(105) |
|
|
(86) |
Net assets
|
|
|
19 |
|
|
4,210 |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
19 |
|
|
4,210 |
|
NOTES TO THE ACCOUNTS
General Information
Store Brighton Limited is a private company, limited by shares, registered in England and Wales, registration number 11625063, registration address 99 Brentwood Road, Brighton, East Sussex, BN1 7ET.
The presentation currency is £ sterling.
1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales and profitability following a very unsettled year due to the Coronavirus pandemic. The company is well placed to manage its business risks successfully following a successful application for a Bounce Back Loan in 2020. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. The store has remained open throughout the pandemic period as it was providing essential goods.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Corporation tax payable for the period of the accounts is charged to the Profit and held as a liability at the period end.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery |
4 Straight Line
|
Fixtures and Fittings |
4 Straight Line
|
Computer Equipment |
2 Straight Line
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors gross of the finance charge allocated to future periods.
|
2. |
Tangible fixed assets
Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
|
£ |
|
£ |
|
£ |
|
£ |
At 01 January 2020 |
13,058 |
|
2,596 |
|
332 |
|
15,986 |
Additions |
250 |
|
550 |
|
- |
|
800 |
Disposals |
- |
|
- |
|
- |
|
- |
At 31 December 2020 |
13,308 |
|
3,146 |
|
332 |
|
16,786 |
Depreciation |
At 01 January 2020 |
2,696 |
|
596 |
|
181 |
|
3,473 |
Charge for year |
3,006 |
|
681 |
|
152 |
|
3,839 |
On disposals |
- |
|
- |
|
- |
|
- |
At 31 December 2020 |
5,702 |
|
1,277 |
|
333 |
|
7,312 |
Net book values |
Closing balance as at 31 December 2020 |
7,606 |
|
1,869 |
|
(1) |
|
9,474 |
Opening balance as at 01 January 2020 |
10,362 |
|
1,758 |
|
151 |
|
12,271 |
The net book value of Plant and Machinery includes £3,456(2020 £4,491) in respect of assets leased under finance leases or hire purchase contracts.
|
3. |
Average number of employees
Average number of employees during the year was 8 (2019 : 4).
|
For the year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.
Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the financial reporting standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 24 September 2021 and were signed on its behalf by:
-------------------------------- Ceridwyn Lones Director |
2
|