Accounts Submission

Company Accounts and Tax Online 03991841 Board of Directors 1.4.20 31.3.21 31.3.21 false iso4217:GBP xbrli:pure 03991841 2019-04-01 2020-03-31 03991841 2021-03-31 03991841 2020-04-01 2021-03-31 03991841 2020-03-31 03991841 countries:EnglandWales 2020-04-01 2021-03-31 03991841 curr:PoundSterling 2020-04-01 2021-03-31 03991841 uk-bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 03991841 uk-bus:FRS102 2020-04-01 2021-03-31 03991841 uk-bus:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 03991841 uk-bus:FullAccounts 2020-04-01 2021-03-31 03991841 uk-bus:RegisteredOffice 2020-04-01 2021-03-31 03991841 uk-bus:Director1 2020-04-01 2021-03-31 03991841 uk-bus:Director1 2020-04-01 03991841 uk-bus:Director1 2021-03-31 03991841 uk-bus:Director2 2020-04-01 2021-03-31 03991841 uk-bus:Director2 2020-04-01 03991841 uk-bus:Director2 2021-03-31 03991841 uk-bus:CompanySecretary1 2020-04-01 2021-03-31 03991841 core:AfterOneYear 2021-03-31 03991841 core:AfterOneYear 2020-03-31 03991841 core:WithinOneYear 2021-03-31 03991841 core:WithinOneYear 2020-03-31 03991841 core:WithinOneYear 2020-04-01 2021-03-31 03991841 core:AfterOneYear 2021-03-31 03991841 core:AfterOneYear 2020-03-31 03991841 core:AfterOneYear 2020-04-01 2021-03-31 03991841 core:ShareCapital 2021-03-31 03991841 core:ShareCapital 2020-03-31 03991841 core:RevaluationReserve 2021-03-31 03991841 core:RevaluationReserve 2020-03-31 03991841 core:RetainedEarningsAccumulatedLosses 2021-03-31 03991841 core:RetainedEarningsAccumulatedLosses 2020-03-31 03991841 1 2020-04-01 2021-03-31 03991841 core:LandBuildings 2020-04-01 2021-03-31 03991841 core:LandBuildings 2021-03-31 03991841 core:LandBuildings 2019-04-01 2020-03-31 03991841 core:LandBuildings 2020-03-31 03991841 core:PlantMachinery 2020-04-01 2021-03-31 03991841 core:PlantMachinery 2021-03-31 03991841 core:PlantMachinery 2019-04-01 2020-03-31 03991841 core:PlantMachinery 2020-03-31 03991841 core:FurnitureFittingsToolsEquipment 2020-04-01 2021-03-31 03991841 core:FurnitureFittingsToolsEquipment 2021-03-31 03991841 core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 03991841 core:FurnitureFittingsToolsEquipment 2020-03-31 03991841 core:OfficeEquipment 2020-04-01 2021-03-31 03991841 core:OfficeEquipment 2021-03-31 03991841 core:OfficeEquipment 2019-04-01 2020-03-31 03991841 core:OfficeEquipment 2020-03-31 03991841 core:Vehicles 2020-04-01 2021-03-31 03991841 core:Vehicles 2021-03-31 03991841 core:Vehicles 2019-04-01 2020-03-31 03991841 core:Vehicles 2020-03-31 03991841 core:NetGoodwill 2020-04-01 2021-03-31 03991841 core:NetGoodwill 2021-03-31 03991841 core:NetGoodwill 2019-04-01 2020-03-31 03991841 core:NetGoodwill 2020-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2020-04-01 2021-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2021-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2019-04-01 2020-03-31 03991841 core:IntangibleAssetsOtherThanGoodwill 2020-03-31

Company Registration Number:
03991841 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2021

Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

Contents of the Financial Statements

for the Period Ended 31 March 2021


Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

Directors' Report Period Ended 31 March 2021

The directors present their report with the financial statements of the company for the period ended 31 March 2021

Principal Activities

The principal activity of the company in the period under review was that of selling books and related products.

Additional information

The trading profit for the financial year amounted to £3,535. It is recommended that this amount be set against losses brought forward. The company operates in the retail market with several shops and has suffered greatly this year with falling sales and shop closure. The economic outlook is uncertain. Government and local authority support and grant schemes have been an essential requirement in order for the business to survive.

Directors

The directors shown below have held office during the whole of the period from 01 April 2020 to 31 March 2021
M A WAHLI
M ORTUNO PRATS

Secretary
M ORTUNO PRATS

This report was approved by the board of directors on 23 December 2021
And Signed On Behalf Of The Board By:

Name: M A WAHLI
Status: Director

Name: M ORTUNO PRATS
Status: Director

Profit and Loss Account

for the Period Ended 31 March 2021

	2021 £	2020 £
Turnover	261,900	952,333
Cost of sales	( 132,245 )	( 502,787 )
Gross Profit or (Loss)	249,169	501,218
Income from coronavirus (COVID-19) business support grants	119,514	51,672
Administrative Expenses	( 245,278 )	( 483,841 )
Operating Profit or (Loss)	3,891	17,377
Interest Payable and Similar Charges	( 356 )	( 1,868 )
Profit or (Loss) Before Tax	3,535	15,509
Profit or (Loss) for Period	3,535	15,509

The notes form part of these financial statements

Balance sheet

As at 31 March 2021

	Notes	2021 £	2020 £
Fixed assets
Total fixed assets:		-	-
Current assets
Stocks:		136,682	145,065
Debtors:	4	55,193	155,671
Cash at bank and in hand:		10,818	1,635
Total current assets:		202,693	302,371
Creditors: amounts falling due within one year:	5	( 94,280 )	( 239,589 )
Net current assets (liabilities):		108,413	62,782
Total assets less current liabilities:		108,413	62,782
Creditors: amounts falling due after more than one year:	6	( 70,531 )	( 28,435 )
Total net assets (liabilities):		37,882	34,347

The notes form part of these financial statements

Balance sheet continued

As at 31 March 2021

	2021 £	2020 £
Capital and reserves
Called up share capital:	250,100	250,100
Profit and loss account:	( 212,218 )	( 215,753 )
Shareholders funds:	37,882	34,347

For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 23 December 2021
And Signed On Behalf Of The Board By:

Name: M A WAHLI
Status: Director

Name: M ORTUNO PRATS
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2021

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents income from the sale of books and related products and is stated net of value added tax.

Valuation information and policy

Stock - Stock is valued at the lower of cost or net realisable value.

Other accounting policies

Going Concern - The directors recognise that Government and Local Authority funding has enabled this retail business to survive through these difficult times arising from the closure of non-essential businesses and restricted travel. Continued funding and support is still critical to the survival of the business and is being received. The directors are of the opinion that the company can meet its current financial obligations. For the reasons stated above, the directors are of the opinion that it is appropriate to prepare the company’s accounts on a going concern basis. Though the future economic outlook for the retail sector is uncertain.

Notes to the Financial Statements

for the Period Ended 31 March 2021

2. Employees

	2021	2020
Average number of employees during the period	8	10

Notes to the Financial Statements

for the Period Ended 31 March 2021

3. Off balance sheet disclosure

No

Notes to the Financial Statements

for the Period Ended 31 March 2021

4. Debtors

	2021 £	2020 £
Trade debtors	5,458	29,702
Prepayments and accrued income	1,281	30,766
Other debtors	48,454	95,203
Total	55,193	155,671

Inclusive in other debtors is Covid-19 grants of £3,240 (2020 £50,000) and lease deposits of £43,461 (2020 £43,461).

Notes to the Financial Statements

for the Period Ended 31 March 2021

5.Creditors: amounts falling due within one year note

	2021 £	2020 £
Bank loans and overdrafts	6,667	39,252
Trade creditors	43,109	155,548
Taxation and social security	47	8,644
Accruals and deferred income	44,457	36,145
Total	94,280	239,589

Bank loans and overdrafts. The Coronavirus Bounce Back Loan £6,667 represents current instalments due within one year. The 2020 bank overdraft of £39,252 was cleared.

Notes to the Financial Statements

for the Period Ended 31 March 2021

6.Creditors: amounts falling due after more than one year

	2021 £	2020 £
Bank loans and overdrafts	43,333	0
Other creditors	27,198	28,435
Total	70,531	28,435

Coronavirus Bounce Back Loan £43,333 represents the amount due greater than one year. The government guarantees 100% of the loan and is interest free for the first 12 months. After which interest is charged at 2.5% and monthly repayments commence and are payable over a period of 5 years.
Shareholders loan of £27,198. The shareholders unsecured loan is interest free and repayable when funds are available, subject to giving due consideration to the liquidity requirements of the company.

Director:		M A WAHLI
		M ORTUNO PRATS


Secretary:		M ORTUNO PRATS


Registered office:		117-119 Clerkenwell Road London EC1R 5BY


Company Registration Number:		03991841 (England and Wales)

Accounts Submission