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REGISTERED NUMBER: 04468817 (England and Wales)















Financial Statements for the Period 1 October 2020 to 31 December 2021

for

Poco Loco (Imports) Ltd

Poco Loco (Imports) Ltd (Registered number: 04468817)

Contents of the Financial Statements
for the Period 1 October 2020 to 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Poco Loco (Imports) Ltd

Company Information
for the Period 1 October 2020 to 31 December 2021







DIRECTORS: Mr J Smith
Miss S L Thorogood





SECRETARY: Mrs H E Parsons





REGISTERED OFFICE: Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB





REGISTERED NUMBER: 04468817 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

Poco Loco (Imports) Ltd (Registered number: 04468817)

Balance Sheet
31 December 2021

31.12.21 30.9.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1 1,468
1 1,468

CURRENT ASSETS
Stocks 38,504 123,990
Debtors 6 20,539 25,823
Cash at bank and in hand 42,927 20,390
101,970 170,203
CREDITORS
Amounts falling due within one year 7 63,367 147,335
NET CURRENT ASSETS 38,603 22,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,604

24,336

PROVISIONS FOR LIABILITIES 8 - 280
NET ASSETS 38,604 24,056

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 38,504 23,956
SHAREHOLDERS' FUNDS 38,604 24,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 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.

Poco Loco (Imports) Ltd (Registered number: 04468817)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2022 and were signed on its behalf by:





Mr J Smith - Director


Poco Loco (Imports) Ltd (Registered number: 04468817)

Notes to the Financial Statements
for the Period 1 October 2020 to 31 December 2021


1. STATUTORY INFORMATION

Poco Loco (Imports) Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 arising on the acquisition of a business in 2002 has now been fully amortised.

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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on reducing balance

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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Poco Loco (Imports) Ltd (Registered number: 04468817)

Notes to the Financial Statements - continued
for the Period 1 October 2020 to 31 December 2021


2. ACCOUNTING POLICIES - continued

Compliance with accounting standards
The financial statements are prepared in accordance with applicable accounting standards.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2020 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2020
and 31 December 2021 90,000
AMORTISATION
At 1 October 2020
and 31 December 2021 90,000
NET BOOK VALUE
At 31 December 2021 -
At 30 September 2020 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2020 4,451 1,639 4,566 10,656
Disposals (4,450 ) (1,639 ) (4,566 ) (10,655 )
At 31 December 2021 1 - - 1
DEPRECIATION
At 1 October 2020 3,788 1,401 3,999 9,188
Charge for period 83 30 235 348
Eliminated on disposal (3,871 ) (1,431 ) (4,234 ) (9,536 )
At 31 December 2021 - - - -
NET BOOK VALUE
At 31 December 2021 1 - - 1
At 30 September 2020 663 238 567 1,468

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 30.9.20
£    £   
Trade debtors 19,741 24,566
Other debtors 798 1,257
20,539 25,823

Poco Loco (Imports) Ltd (Registered number: 04468817)

Notes to the Financial Statements - continued
for the Period 1 October 2020 to 31 December 2021


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 30.9.20
£    £   
Trade creditors - 272
Taxation and social security 29,944 12,455
Other creditors 33,423 134,608
63,367 147,335

8. PROVISIONS FOR LIABILITIES
31.12.21 30.9.20
£    £   
Deferred tax - 280

Deferred
tax
£   
Balance at 1 October 2020 280
Credit to Statement of Income and Retained Earnings during period (280 )
Balance at 31 December 2021 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 30.9.20
value: £    £   
100 Ordinary £1 100 100

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party for the year was considered to be Mr Smith and Miss Thorogood by virtue of their acting in concert and together they owned 100% of the shares.