Registered number
10139147
Poundworld and Plus Limited
Filleted Accounts
31 May 2023
Poundworld and Plus Limited
Registered number: 10139147
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,640 2,050
Current assets
Stocks 49,415 61,540
Debtors 4 275 370
Cash at bank and in hand 43,609 42,155
93,299 104,065
Creditors: amounts falling due within one year 5 (88,517) (97,586)
Net current assets 4,782 6,479
Net assets 6,422 8,529
Capital and reserves
Called up share capital 1 1
Profit and loss account 6,421 8,528
Shareholders' funds 6,422 8,529
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Akbar Ghani
Director
Approved by the board on 11 September 2023
Poundworld and Plus Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 5,000
At 31 May 2023 5,000
Depreciation
At 1 June 2022 2,950
Charge for the year 410
At 31 May 2023 3,360
Net book value
At 31 May 2023 1,640
At 31 May 2022 2,050
4 Debtors 2023 2022
£ £
Trade debtors 275 370
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,590 10,620
Taxation and social security costs 2,048 3,230
Other creditors 77,879 83,736
88,517 97,586
6 Other information
Poundworld and Plus Limited is a private company limited by shares and incorporated in England. Its registered office is:
65 High Street
Brownhills
Walsall
West Midlands
WS8 6HH
Poundworld and Plus Limited 10139147 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 Mr Akbar Ghani No description of principal activity 10139147 2021-06-01 2022-05-31 10139147 core:WithinOneYear 2022-05-31 10139147 core:ShareCapital 2022-05-31 10139147 core:RetainedEarningsAccumulatedLosses 2022-05-31 10139147 2022-06-01 2023-05-31 10139147 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10139147 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10139147 bus:Director40 2022-06-01 2023-05-31 10139147 core:PlantMachinery 2022-06-01 2023-05-31 10139147 countries:England 2022-06-01 2023-05-31 10139147 bus:FRS102 2022-06-01 2023-05-31 10139147 bus:FullAccounts 2022-06-01 2023-05-31 10139147 2023-05-31 10139147 core:WithinOneYear 2023-05-31 10139147 core:ShareCapital 2023-05-31 10139147 core:RetainedEarningsAccumulatedLosses 2023-05-31 10139147 core:PlantMachinery 2023-05-31 10139147 2022-05-31 10139147 core:PlantMachinery 2022-05-31 iso4217:GBP xbrli:pure