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Company Registration No. 10897878 (England and Wales)
Ash's Convenience Store Ltd Unaudited accounts for the year ended 31 August 2023
Ash's Convenience Store Ltd Unaudited accounts Contents
Page
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Ash's Convenience Store Ltd Company Information for the year ended 31 August 2023
Director
Mr Mohammed Rizwan Ashraf
Company Number
10897878 (England and Wales)
Registered Office
Venta House Maesglas Retail Park Newport NP20 2NS
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Ash's Convenience Store Ltd for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ash's Convenience Store Ltd for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Venta House Maes-glas Newport NP20 2NS 12 October 2023
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Ash's Convenience Store Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
20,000 
20,000 
Debtors
53,776 
94,467 
Cash at bank and in hand
479 
1,228 
74,255 
115,695 
Creditors: amounts falling due within one year
(57,175)
(87,147)
Net current assets
17,080 
28,548 
Total assets less current liabilities
17,080 
28,548 
Creditors: amounts falling due after more than one year
(17,013)
(27,481)
Net assets
67 
1,067 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
65 
1,065 
Shareholders' funds
67 
1,067 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 October 2023 and were signed on its behalf by
Mr Mohammed Rizwan Ashraf Director Company Registration No. 10897878
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Ash's Convenience Store Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Ash's Convenience Store Ltd is a private company, limited by shares, registered in England and Wales, registration number 10897878. The registered office is Venta House, Maesglas Retail Park, Newport, NP20 2NS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Inventories
2023 
2022 
£ 
£ 
Finished goods
20,000 
20,000 
20,000 
20,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,277 
5,271 
Other debtors
36,995 
67,318 
41,272 
72,589 
Amounts falling due after more than one year
Other debtors
12,504 
21,878 
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Ash's Convenience Store Ltd Notes to the Accounts for the year ended 31 August 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
11,206 
17,082 
Trade creditors
- 
10,801 
Taxes and social security
44,069 
55,347 
Other creditors
- 
2,017 
Accruals
1,900 
1,900 
57,175 
87,147 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
17,013 
27,481 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr Mohammed Rizwan Ashraf
General Loan
67,318 
- 
30,323 
36,995 
67,318 
- 
30,323 
36,995 
The balance outstanding represents an interest free loan issued to the directors that is repayable upon demand.
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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