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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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STREET RUNNERS LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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FOR |
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STREET RUNNERS LIMITED |
STREET RUNNERS LIMITED (REGISTERED NUMBER: 05333037) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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STREET RUNNERS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Turnpike House |
1208/1210 London Road |
Leigh on Sea |
Essex |
SS9 2UA |
STREET RUNNERS LIMITED (REGISTERED NUMBER: 05333037) |
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BALANCE SHEET |
30 APRIL 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
STREET RUNNERS LIMITED (REGISTERED NUMBER: 05333037) |
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BALANCE SHEET - continued |
30 APRIL 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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STREET RUNNERS LIMITED (REGISTERED NUMBER: 05333037) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2019 |
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1. | STATUTORY INFORMATION |
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Street Runners Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding vat. |
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Tangible fixed assets |
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Fixtures, fittings and equipment | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Trade debtors |
Trade debtors are stated net of advances received from factors. The factored debts are non-recourse subject to |
debtors adhering to credit limits prescribed by the factors. Therefore, a linked presentation has been adopted. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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STREET RUNNERS LIMITED (REGISTERED NUMBER: 05333037) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures, |
fittings |
and | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2018 |
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Additions |
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At 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments |
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The figure for trade debtors includes factored gross debtors of £55,343 less advances received from factors of |
£31,506 (2018: factored gross debtors of £60,721 less advances received from factors of £36,783). |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT |
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Other creditors |
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Directors' current accounts |
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Accrued expenses |
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STREET RUNNERS LIMITED (REGISTERED NUMBER: 05333037) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Hire purchase contracts |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank overdraft |
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Hire purchase contracts | 11,215 | - |
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The hire purchase creditor is secured against the company motor vehicles to which they relate. |
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The bank overdraft is secured by way of personal guarantee by the director |
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9. | GOING CONCERN |
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As at 30th April 2019 the balance sheet had a net deficiency of assets of £33,509 and was therefore dependant |
upon the continued support from it's principle creditors. |
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The director undertakes to financially support the company until the situation has been fully redressed. |
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The financial statements have therefore been prepared on the going concern basis. |