Central Stores (Uk) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05874364 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2019

FOR

CENTRAL STORES (UK) LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr G S Kooner

SECRETARY:

Mrs G K Kooner

REGISTERED OFFICE:

Watergates Building

109 Coleman Road

Leicester

LE5 4LE

BUSINESS ADDRESS:

10 Central Avenue

Lutterworth

Leicestershire

LE17 4NY

REGISTERED NUMBER:

05874364 (England and Wales)

ACCOUNTANTS:

Watergates Ltd

109 Coleman Road

Leicester

LE5 4LE

FIXED ASSETS

Intangible assets

4

14,663

16,388

Tangible assets

5

1,881

1,860

16,544

18,248

CURRENT ASSETS

Stocks

25,742

30,239

Cash at bank and in hand

4,886

1,653

30,628

31,892

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

(10,498

)

(13,724

)

NET CURRENT ASSETS

20,130

18,168

TOTAL ASSETS LESS CURRENT LIABILITIES

36,674

36,416

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

36,673

36,415

SHAREHOLDERS' FUNDS

36,674

36,416

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2019.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st January 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 2nd October 2019 and were signed by:

Mr G S Kooner - Director

1.	STATUTORY INFORMATION

Central Stores (Uk) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st February 2018

and 31st January 2019

34,500

AMORTISATION

At 1st February 2018

18,112

Charge for year

1,725

At 31st January 2019

19,837

NET BOOK VALUE

At 31st January 2019

14,663

At 31st January 2018

16,388

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st February 2018

12,150

11,621

23,771

Additions

605

-

605

At 31st January 2019

12,755

11,621

24,376

DEPRECIATION

At 1st February 2018

10,396

11,515

21,911

Charge for year

558

26

584

At 31st January 2019

10,954

11,541

22,495

NET BOOK VALUE

At 31st January 2019

1,801

80

1,881

At 31st January 2018

1,754

106

1,860

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/19

31/1/18

£

£

Bank loans and overdrafts

2,647

-

Trade creditors

1,726

1,064

Taxation and social security

2,087

1,344

Other creditors

4,038

11,316

10,498

13,724

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/1/19

31/1/18

value:

£

£

1

Ordinary

£1

1

1

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2019

and 31st January 2018:

31/1/19

31/1/18

£

£

Mr G S Kooner

Balance outstanding at start of year

(7,245

)

(15,325

)

Amounts advanced

5,809

8,080

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,436

)

(7,245

)