The Store X Limited - Accounts to registrar (filleted) - small 18.2
The Store X Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 28 February 2018 |
| for |
| The Store X Limited |
| The Store X Limited (Registered number: 09732245) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| The Store X Limited |
| Company Information |
| for the Year Ended 28 February 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants & Business Advisers |
| 15 Newland |
| Lincoln |
| Lincolnshire |
| LN1 1XG |
| The Store X Limited (Registered number: 09732245) |
| Balance Sheet |
| 28 February 2018 |
| 2018 | 2017 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 | ( |
) | (495,854 | ) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| The Store X Limited (Registered number: 09732245) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2018 |
| 1. | STATUTORY INFORMATION |
| The Store X 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. |
| The trading addresses are as follows: |
| The Store Studio |
| 180 The Strand |
| London |
| WC2R 1EA |
| Soho Farmhouse |
| Great Tew |
| Chipping Norton |
| OX7 4JS |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts are prepared on a going concern basis which assumes that the directors together with the Vinyl |
| Factory Limited, the parent company of the group, will continue to support the Company. If this support was not |
| to continue then the basis may not be appropriate. |
| Should the Company then not be able to continue trading, adjustments to the value of assets would be needed |
| to provide for any further liabilities which may arise and to reclassify fixed assets as current assets. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover represents net invoiced sales, excluding value added tax. Revenue is recognised on an accruals basis |
| in the period to which it relates. |
| Tangible fixed assets |
| Leasehold improvements | - |
| Fixtures and fittings | - |
| Furnishings | - |
| Computer equipment | - |
| Furnishings are not depreciated as the value of the items is not estimated to decrease due to being artwork |
| furnishings. Regular impairment reviews are undertaken. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| The Store X Limited (Registered number: 09732245) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | and | Computer |
| improvements | fittings | Furnishings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 March 2017 |
| Additions |
| At 28 February 2018 |
| DEPRECIATION |
| At 1 March 2017 |
| Charge for year |
| At 28 February 2018 |
| NET BOOK VALUE |
| At 28 February 2018 |
| At 28 February 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| as restated |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| as restated |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | as restated |
| £ | £ |
| Share capital | £1 | 100 | 100 |
| The Store X Limited (Registered number: 09732245) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2018 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 March 2017 | ( |
) |
| Prior year adjustment |
| ( |
) |
| Profit for the year |
| At 28 February 2018 | ( |
) |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was qualified on the following basis: |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable |
| law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit |
| of the financial statements section of our report. We are independent of the company in accordance with the |
| ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's |
| Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. |
| We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our |
| opinion. Due to a limitation of scope we have been unable to audit the opening and closing stock figure within |
| these financial statements. |
| for and on behalf of |
| 11. | OTHER FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount |
| to £725,467 (2017: £1,100,467). |
| 12. | ULTIMATE CONTROLLING PARTY |
| The company's parent undertaking is The Vinyl Factory Limited. The registered office of the parent undertaking |
| is 15 Newland, Lincoln, Lincolnshire, LN1 1XG. The principle place of business is 16-18 Marshall Street, |
| London, W1F 7BE. |