Penryn Stores Limited - Accounts to registrar (filleted) - small 18.2
Penryn Stores Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2019 |
| for |
| Penryn Stores Limited |
| Penryn Stores Limited (Registered number: 06408267) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Certified Accountant's Report | 8 |
| Penryn Stores Limited |
| Company Information |
| for the Year Ended 31 October 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| Kelyn |
| Old Hill |
| Helston |
| Cornwall |
| TR13 8HT |
| Penryn Stores Limited (Registered number: 06408267) |
| Statement of Financial Position |
| 31 October 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Penryn Stores Limited (Registered number: 06408267) |
| Statement of Financial Position - continued |
| 31 October 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
| Penryn Stores Limited (Registered number: 06408267) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2019 |
| 1. | STATUTORY INFORMATION |
| Penryn Stores Limited is a |
| 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 |
| Turnover |
| Turnover predominantly includes point of sale receipts from cash and card transactions for the sale of goods. |
| Goods sold are measured in the Income Statement at selling price, less Value Added Tax, and derived from the |
| point of sale till systems. |
| Other income such as commissions for Paypoint and Lottery transactions are recognised when the amounts can |
| be reliably measured. This is normally upon notification by the commission paying supplier. |
| Goodwill |
| 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 |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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. |
| Penryn Stores Limited (Registered number: 06408267) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
| held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
| leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 November 2018 |
| and 31 October 2019 |
| AMORTISATION |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| Penryn Stores Limited (Registered number: 06408267) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 November 2018 |
| Additions |
| At 31 October 2019 |
| DEPRECIATION |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 November 2018 |
| and 31 October 2019 |
| DEPRECIATION |
| At 1 November 2018 |
| Charge for year |
| At 31 October 2019 |
| NET BOOK VALUE |
| At 31 October 2019 |
| At 31 October 2018 |
| 6. | DEBTORS |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Penryn Stores Limited (Registered number: 06408267) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2019 |
| 6. | DEBTORS - continued |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Hire purchase contracts |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 October 2019 and |
| 31 October 2018: |
| 2019 | 2018 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| At the balance sheet date the company was owed £42,092 by the directors, Mr I McCabe and Mrs H M McCabe. This was the balance on their joint director's current account and is disclosed within other debtors. |
| The company charged the directors interest on overdrawn balances at the rate of 2.50% during the year. |
| 10. | ULTIMATE CONTROLLING PARTY |
| Mr I McCabe and Mrs H M McCabe are the joint controlling parties, by virtue of owning 100% of the company's |
| issued share capital. |
| Chartered Certified Accountant's Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Penryn Stores Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
| file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other |
| primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial |
| statements of Penryn Stores Limited for the year ended 31 October 2019 which comprise the Income Statement, |
| Statement of Financial Position and the related notes from the company's accounting records and from information and |
| explanations you have given me. |
| As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Penryn Stores Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Penryn Stores Limited and state those matters that I have agreed to state to the Board of Directors of Penryn Stores Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report. |
| It is your duty to ensure that Penryn Stores Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Penryn Stores Limited. You consider that Penryn Stores Limited is exempt from the statutory audit requirement for the year. |
| I have not been instructed to carry out an audit or a review of the financial statements of Penryn Stores Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. |
| Kelyn |
| Old Hill |
| Helston |
| Cornwall |
| TR13 8HT |