Instore Shopfitters Limited Company Accounts
Instore Shopfitters Limited Company Accounts
COMPANY REGISTRATION NUMBER:
05077236
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Financial Statements |
Year ended 31 March 2020
Contents |
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Statement of financial position |
1 |
Notes to the financial statements |
3 |
The following pages do not form part of the financial statements
Chartered accountants and business advisers report to the board of directors on the preparation of the unaudited statutory financial statements |
10 |
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Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
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Investments |
7 |
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Current assets
Stocks |
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Debtors |
8 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
9 |
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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 |
10 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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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 financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
11 November 2020
, and are signed on behalf of the board by:
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Director |
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Company registration number:
05077236
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Notes to the Financial Statements |
Year ended 31 March 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 256-296 Price Street, Birkenhead, CH41 3PS.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Taxation
Operating leases
Goodwill
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery |
- |
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Fixtures and Fittings |
- |
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Motor Vehicles |
- |
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The freehold property is not depreciated. The directors consider that the residual value of the building is high and its useful life so long as to make depreciation immaterial.
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Stocks
Government grants - covid 19 support
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
50
(2019:
43
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5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 April 2019 and 31 March 2020 |
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Amortisation |
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At 1 April 2019 and 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
– |
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6.
Tangible assets
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2019 |
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Additions |
– |
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– |
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Disposals |
– |
(
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– |
(
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(
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
– |
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Charge for the year |
– |
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Disposals |
– |
(
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– |
(
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(
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At 31 March 2020 |
– |
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Carrying amount |
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At 31 March 2020 |
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At 31 March 2019 |
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7.
Investments
Investment Property |
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£ |
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Cost |
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At 1 April 2019 and 31 March 2020 |
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Impairment |
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At 1 April 2019 and 31 March 2020 |
– |
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Carrying amount |
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At 31 March 2020 |
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8.
Debtors
2020 |
2019 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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9.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Credit cards |
15,346 |
8,636
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CSA and other AOE orders |
1,042
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85
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Other creditors |
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10.
Creditors:
amounts falling due after more than one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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11.
Government grants
The amounts recognised in the financial statements for government grants are as follows:
2020 |
2019 |
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£ |
£ |
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Recognised in other operating income:
Government grants recognised directly in income |
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– |
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12.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2020 |
2019 |
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£ |
£ |
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Not later than 1 year |
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– |
Later than 1 year and not later than 5 years |
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13.
Directors' advances, credits and guarantees
14.
Related party transactions
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Management Information |
Year ended 31 March 2020
The following pages do not form part of the financial statements.
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Chartered Accountants and Business Advisers Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 March 2020
Unit 10, Edison Court
Ellice Way
Wrexham Technology Park
Wrexham
LL13 7YT