St Michaels Stores Limited - Accounts to registrar (filleted) - small 18.2

St Michaels Stores Limited - Accounts to registrar (filleted) - small 18.2

ST MICHAELS STORES LIMITED - Company Information

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REGISTERED NUMBER: 07821416 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

ST MICHAELS STORES LIMITED
ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ST MICHAELS STORES LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2018







DIRECTORS: J A Entwistle
Mrs E A Entwistle





REGISTERED OFFICE: 19 North Street
Ashford
England
Kent
TN24 8LF





REGISTERED NUMBER: 07821416 (England and Wales)





ACCOUNTANTS: Calcutt Matthews
Chartered Accountants
19 North Street
Ashford
Kent
TN24 8LF
Page 1
ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

BALANCE SHEET
31 August 2018

31.8.18 31.8.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,292 102,796

CURRENT ASSETS
Stocks 5 30,850 40,850
Debtors 6 26,800 -
Cash at bank and in hand 6,270 6,768
63,920 47,618
CREDITORS
Amounts falling due within one year 7 8,197 214
NET CURRENT ASSETS 55,723 47,404
TOTAL ASSETS LESS CURRENT LIABILITIES 145,015 150,200

CREDITORS
Amounts falling due after more than one
year
8
110,000
110,000
NET ASSETS 35,015 40,200

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 35,014 40,199
SHAREHOLDERS' FUNDS 35,015 40,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 notes form part of these financial statements

Page 2 continued...
ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

BALANCE SHEET - continued
31 August 2018


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 Board of Directors on 23 April 2019 and were signed on its behalf by:





J A Entwistle - Director


The notes form part of these financial statements

Page 3
ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2018


1. STATUTORY INFORMATION

St Michaels Stores Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Page 4 continued...
ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2018


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2017 43,724 43,532 76,474 2,315 166,045
Additions 550 3,072 - - 3,622
At 31 August 2018 44,274 46,604 76,474 2,315 169,667
DEPRECIATION
At 1 September 2017 - 17,867 43,694 1,688 63,249
Charge for year - 9,170 7,647 309 17,126
At 31 August 2018 - 27,037 51,341 1,997 80,375
NET BOOK VALUE
At 31 August 2018 44,274 19,567 25,133 318 89,292
At 31 August 2017 43,724 25,665 32,780 627 102,796

5. STOCKS
31.8.18 31.8.17
£    £   
Stocks 30,850 40,850

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.18 31.8.17
£    £   
Other debtors 26,800 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.18 31.8.17
£    £   
Taxation and social security 3,093 4,734
Other creditors 5,104 (4,520 )
8,197 214

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.18 31.8.17
£    £   
Other creditors 110,000 110,000

Page 5 continued...
ST MICHAELS STORES LIMITED (REGISTERED NUMBER: 07821416)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2018


9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.8.18 31.8.17
value: £    £   
1 Share capital 1 £1 1 1

10. RESERVES
Retained
earnings
£   

At 1 September 2017 40,199
Deficit for the year (3,935 )
Dividends (1,250 )
At 31 August 2018 35,014

11. RELATED PARTY DISCLOSURES

The company is a related party to Wisborough (Tenterden) Limited, as Mrs E Entwistle acts as director
on the board of both companies. The company is owed £26,800 (2017 : 21,300) from the related
party.

Page 6