REGISTERED NUMBER: 04530637 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

A. & L. STORES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R Foley

Mrs L Foley

SECRETARY:

Mrs L Foley

REGISTERED OFFICE:

2 Hornbeams

Dovercourt

Essex

CO125NL

REGISTERED NUMBER:

04530637 (England and Wales)

ACCOUNTANTS:

Baker Chapman & Bussey

Chartered Accountants

3 North Hill

Colchester

Essex

CO1 1DZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

30,297

33,710

30,297

33,710

CURRENT ASSETS

Stocks

37,599

33,760

Debtors

6

6,143

14,360

Cash at bank and in hand

33,182

20,615

76,924

68,735

CREDITORS

Amounts falling due within one year

7

28,418

21,478

NET CURRENT ASSETS

48,506

47,257

TOTAL ASSETS LESS CURRENT LIABILITIES

78,803

80,967

PROVISIONS FOR LIABILITIES

251

251

NET ASSETS

78,552

80,716

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

78,550

80,714

SHAREHOLDERS' FUNDS

78,552

80,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 February 2019 and were signed on its behalf by:

A R Foley - Director

1.	STATUTORY INFORMATION

A. & L. Stores 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

4% on cost

Plant and machinery etc

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2017

and 30 November 2018

50,000

AMORTISATION

At 1 December 2017

and 30 November 2018

50,000

NET BOOK VALUE

At 30 November 2018

-

At 30 November 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 December 2017

80,990

24,271

105,261

Additions

-

233

233

At 30 November 2018

80,990

24,504

105,494

DEPRECIATION

At 1 December 2017

48,600

22,951

71,551

Charge for year

3,240

406

3,646

At 30 November 2018

51,840

23,357

75,197

NET BOOK VALUE

At 30 November 2018

29,150

1,147

30,297

At 30 November 2017

32,390

1,320

33,710

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

901

1,453

Directors' current accounts

5,242

12,907

6,143

14,360

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

11,798

8,226

Taxation and social security

14,320

10,952

Other creditors

2,300

2,300

28,418

21,478

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2018 and

30 November 2017:

2018

2017

£

£

A R Foley and Mrs L Foley

Balance outstanding at start of year

12,907

-

Amounts advanced

43,975

12,907

Amounts repaid

(51,640

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,242

12,907

The overdrawn Directors loan account balance was cleared by the declaring of a dividend on 1st February 2019