HANNELL'S STORES LIMITED Filleted accounts for Companies House (small and micro)

HANNELL'S STORES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00450202

HANNELL'S STORES LIMITED

Filleted Unaudited Financial Statements

30 April 2022

HANNELL'S STORES LIMITED

Statement of Financial Position

30 April 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	4		590,689	590,689

Current assets

Debtors	5	1,063,425	1,063,425
Cash at bank and in hand		183	238
		------------	------------
		1,063,608	1,063,663

Creditors: amounts falling due within one year	6	473,906		473,332
		------------		------------
Net current assets			589,702	590,331
			------------	------------
Total assets less current liabilities			1,180,391	1,181,020
			------------	------------
Net assets			1,180,391	1,181,020
			------------	------------

Capital and reserves

Called up share capital	4,876	4,876
Profit and loss account	1,175,515	1,176,144
	------------	------------
Shareholders funds	1,180,391	1,181,020
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

HANNELL'S STORES LIMITED

Statement of Financial Position (continued)

30 April 2022

These financial statements were approved by the board of directors and authorised for issue on 29 January 2023 , and are signed on behalf of the board by:

Mr N Patel
Director

Company registration number: 00450202

HANNELL'S STORES LIMITED

Notes to the Financial Statements

Year ended 30 April 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vyman House, 104 College Road, Harrow, Middlesex, United Kingdom, HA1 1BQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Improvements to property Nil Plant and machinery Nil Fixtures and fittings Nil Motor vehicles Nil

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 May 2021 and 30 April 2022	590,689
	---------
Carrying amount
At 30 April 2022	590,689
	---------
At 30 April 2021	590,689
	---------

5. Debtors

	2022	2021
	£	£
Other debtors	1,063,425	1,063,425
	------------	------------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	318,598	318,599
Social security and other taxes	3,473	3,473
Other creditors	151,835	151,260
	---------	---------
	473,906	473,332
	---------	---------

7. Related party transactions

The company was under the control of Mr N Patel & family throughout the current and previous year, who hold entire issued share capital of the company.