Pick & Save Limited - Filleted accounts

Registered number

07800410

Pick & Save Limited

Filleted Accounts

31 October 2022

Pick & Save Limited
Registered number:		07800410
Balance Sheet
as at 31 October 2022

Notes			2022			2021
£				£
Fixed assets
Tangible assets	3		-			988,016
Investments	4		1,736,756			680,879
			1,736,756			1,668,895

Current assets
Debtors	5	1,500			1,500
Cash at bank and in hand		20,631			40,001
		22,131			41,501

Creditors: amounts falling due within one year	6	(1,378,141)			(1,316,485)

Net current liabilities			(1,356,010)			(1,274,984)

Total assets less current liabilities			380,746			393,911

Creditors: amounts falling due after more than one year	7		(318,925)			(311,541)



Net assets			61,821			82,370

Capital and reserves
Called up share capital			222			222
Profit and loss account			61,599			82,148

Shareholders' funds			61,821			82,370

The directors are 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 directors acknowledge their 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.




Gurjeet Singh
Director
Approved by the board on 3 October 2023

Pick & Save Limited
Notes to the Accounts
for the year ended 31 October 2022


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees	2022		2021
Number			Number

	Average number of persons employed by the company	0		0


3	Tangible fixed assets
				Land and buildings
£
	Cost
	At 1 November 2021			988,016
	Disposals			(988,016)
	At 31 October 2022			-

	Depreciation
	At 31 October 2022			-

	Net book value
	At 31 October 2022			-
	At 31 October 2021			988,016


4	Investments

Other
investments
£
	Cost
	At 1 November 2021			680,879
	Additions			1,055,877

	At 31 October 2022			1,736,756


5	Debtors	2022		2021
£			£

	Other debtors	1,500		1,500


6	Creditors: amounts falling due within one year	2022		2021
£			£

	Bank loans and overdrafts	36,433		25,260
	Trade creditors	601,086		752,028
	Taxation and social security costs	16,871		16,871
	Other creditors	723,751		522,326
		1,378,141		1,316,485


7	Creditors: amounts falling due after one year	2022		2021
£			£

	Bank loans	318,925		311,541


8	Loans	2022		2021
£			£
	Creditors include:
	Instalments falling due for payment after more than five years	111,196		137,630


	Secured bank loans	311,541		336,801

	The bank loan is secured by way first legal charge over the freehold property held by the company.


9	Controlling party

	The company is under the control of no single individual.


10	Other information

	Pick & Save Limited is a private company limited by shares and incorporated in England. Its registered office is:
	1B First Floor
	142 Johnson Street
	Southall
	Middlesex
	Ub2 5FD