Company registration number 12961924 (England and Wales)
HIGH STREET GREAT PAXTON LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
HIGH STREET GREAT PAXTON LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2
HIGH STREET GREAT PAXTON LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Stocks
1,335,666
Debtors
20,068
Cash at bank and in hand
100
100
1,355,834
100
Creditors: amounts falling due within one year
(1,200)
Net current assets
1,354,634
100
Creditors: amounts falling due after more than one year
(1,355,746)
Net (liabilities)/assets
(1,112)
100
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,212)
Total equity
(1,112)
100
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 8 June 2023
Mr M Kavanagh
Director
Company Registration No. 12961924
HIGH STREET GREAT PAXTON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 2 -
1
Accounting policies
Company information
High Street Great Paxton Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 18 Grove Place, Bedford, MK40 3JJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
4
Related party transactions
At the balance sheet date, the company owed Lousada PLC £1,355,746 (2021 - £Nil). Lousada PLC owns a 50% share holding in High Street Great Paxton ltd.
At the balance sheet date, the company was owed from Front Row Developments £20,607 (2021 - £Nil). Front Row Developments Ltd owns a 50% share holding in High Street Great Paxton ltd.