REGISTERED NUMBER: 07637558 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Pocket Retail Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

R D J Wiggin

P Selvey

REGISTERED OFFICE:

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

REGISTERED NUMBER:

07637558 (England and Wales)

ACCOUNTANTS:

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

FIXED ASSETS

Tangible assets

5

14,728

16,344

CURRENT ASSETS

Stocks

45,797

50,277

Debtors

6

14,613

23,570

Cash at bank

26,964

30,165

87,374

104,012

CREDITORS

Amounts falling due within one year

7

(7,812

)

(30,592

)

NET CURRENT ASSETS

79,562

73,420

TOTAL ASSETS LESS CURRENT LIABILITIES

94,290

89,764

CREDITORS

Amounts falling due after more than one year

8

(61,999

)

(35,753

)

PROVISIONS FOR LIABILITIES

9

(2,798

)

(3,105

)

NET ASSETS

29,493

50,906

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

29,393

50,806

SHAREHOLDERS' FUNDS

29,493

50,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 3 October 2023 and were signed on its behalf by:

R D J Wiggin - Director

1.	STATUTORY INFORMATION

Pocket Retail 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

2.5% 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 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 statement of financial position date.

Deferred tax

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2022

2,700

42,730

11,105

56,535

Additions

1,497

-

491

1,988

At 31 March 2023

4,197

42,730

11,596

58,523

DEPRECIATION

At 1 April 2022

-

31,382

8,809

40,191

Charge for year

-

2,837

767

3,604

At 31 March 2023

-

34,219

9,576

43,795

NET BOOK VALUE

At 31 March 2023

4,197

8,511

2,020

14,728

At 31 March 2022

2,700

11,348

2,296

16,344

6.

DEBTORS

31.3.23

31.3.22

£

£

Amounts falling due within one year:

Trade debtors

2,705

-

Other debtors

100

100

Prepayments and accrued income

11,808

3,470

14,613

3,570

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

20,000

Aggregate amounts

14,613

23,570

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

6,220

10,000

Trade creditors

-

557

Tax

-

2,343

Social security and other taxes

(1,034

)

15,487

Other creditors

876

525

Accrued expenses

1,750

1,680

7,812

30,592

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans - 1-2 years

6,220

10,000

Bank loans - 2-5 years

28,179

25,753

Amounts owed to group undertakings

27,600

-

61,999

35,753

9.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

2,798

3,105

Deferred

tax

£

Balance at 1 April 2022

3,105

Provided during year

(307

)

Balance at 31 March 2023

2,798

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pocket Retail Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pocket Retail Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pocket Retail Limited and state those matters that we have agreed to state to the Board of Directors of Pocket Retail Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pocket Retail Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pocket Retail Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pocket Retail Limited. You consider that Pocket Retail Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pocket Retail Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

3 October 2023