Harrison Store Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07321962 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Harrison Store Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs W Harrison

Mr A J Harrison

REGISTERED OFFICE:

The Mill

Station Road

Wigton

Cumbria

CA7 9BA

REGISTERED NUMBER:

07321962 (England and Wales)

ACCOUNTANTS:

Marrs Benson

Chartered Accountants

The Mill

Station Road

Wigton

Cumbria

CA7 9BA

FIXED ASSETS

Intangible assets

4

6,481

12,962

Tangible assets

5

11,714

13,607

18,195

26,569

CURRENT ASSETS

Stocks

31,954

29,862

Debtors

6

45,131

59,806

Cash at bank and in hand

39,262

7,628

116,347

97,296

CREDITORS

Amounts falling due within one year

7

114,105

108,125

NET CURRENT ASSETS/(LIABILITIES)

2,242

(10,829

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,437

15,740

PROVISIONS FOR LIABILITIES

1,941

2,238

NET ASSETS

18,496

13,502

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

18,396

13,402

SHAREHOLDERS' FUNDS

18,496

13,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 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 Board of Directors and authorised for issue on 25 June 2020 and were signed on its behalf by:

Mr A J Harrison - Director

Mrs W Harrison - Director

1.	STATUTORY INFORMATION

Harrison Store 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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 each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2018

and 30 September 2019

64,808

AMORTISATION

At 1 October 2018

51,846

Charge for year

6,481

At 30 September 2019

58,327

NET BOOK VALUE

At 30 September 2019

6,481

At 30 September 2018

12,962

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2018

5,849

41,189

2,650

49,688

Additions

393

-

-

393

At 30 September 2019

6,242

41,189

2,650

50,081

DEPRECIATION

At 1 October 2018

3,570

30,126

2,385

36,081

Charge for year

561

1,659

66

2,286

At 30 September 2019

4,131

31,785

2,451

38,367

NET BOOK VALUE

At 30 September 2019

2,111

9,404

199

11,714

At 30 September 2018

2,279

11,063

265

13,607

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

35,277

39,149

Other debtors

9,854

20,657

45,131

59,806

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

-

4,595

Trade creditors

27,267

16,858

Taxation and social security

8,070

5,804

Other creditors

78,768

80,868

114,105

108,125

8.	DEBENTURES

On 21 December 2017, Barclays Bank plc took a fixed and floating charge over the assets of the company in respect of

personal borrowings of the directors.

9.	RELATED PARTY DISCLOSURES

The company was under the control of Mr A J and Mrs W Harrison throughout the current and previous year. Mr Harrison

is the majority shareholder.

During the year, the directors lent the company monies. The balance owed to the directors by the company at the year end

was £44,317 (2018 - £55,628). The loan is unsecured, interest free and repayable on demand.