The Camberley Stationers and Art Galleries Limited - Period Ending 2020-01-31
The Camberley Stationers and Art Galleries Limited - Period Ending 2020-01-31
Registration number:
The Camberley Stationers and Art Galleries Limited
for the Year Ended 31 January 2020
The Camberley Stationers and Art Galleries Limited
(Registration number: 00686178)
Statement of Financial Position as at 31 January 2020
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Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
53,426 |
64,726 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income and expenditure Statement has been taken.
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Page 1 |
The Camberley Stationers and Art Galleries Limited
(Registration number: 00686178)
Statement of Financial Position as at 31 January 2020
Approved and authorised by the
.........................................
Director
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Page 2 |
The Camberley Stationers and Art Galleries Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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Page 3 |
The Camberley Stationers and Art Galleries Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and Fittings |
33% on the reducing balance |
Trade debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and bank deposits.
Trade creditors
Short term creditors are measured at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income and expenditure Statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Employee benefits
Short-term employee benefits are recognised as an expense in the period which they are incurred.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Page 4 |
The Camberley Stationers and Art Galleries Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 February 2019 |
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At 31 January 2020 |
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Depreciation |
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At 1 February 2019 |
- |
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Charge for the year |
- |
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At 31 January 2020 |
- |
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Carrying amount |
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At 31 January 2020 |
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At 31 January 2019 |
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Included within the net book value of land and buildings above is £500,000 (2019 - £500,000) in respect of freehold land and buildings.
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Page 5 |
The Camberley Stationers and Art Galleries Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020
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Other financial assets (current and non-current) |
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Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 February 2019 |
64,726 |
64,726 |
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Fair value adjustments |
(14,167) |
(14,167) |
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Additions |
2,867 |
2,867 |
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At 31 January 2020 |
53,426 |
53,426 |
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Impairment |
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Carrying amount |
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At 31 January 2020 |
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53,426 |
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Debtors |
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2020 |
2019 |
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Prepayments |
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Other debtors |
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- |
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Creditors |
Creditors: amounts falling due within one year
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2020 |
2019 |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2020 |
2019 |
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Loans and borrowings |
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Page 6 |
The Camberley Stationers and Art Galleries Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020
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Loans and borrowings |
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2020 |
2019 |
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Non-current loans and borrowings |
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Bank borrowings |
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Page 7 |