Registered number
SC511666
NS RETAIL (UK) LIMITED
Filleted Accounts
31 March 2023
NS RETAIL (UK) LIMITED
Registered number: SC511666
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 81,449 85,736
Tangible assets 4 10,833 14,444
92,282 100,180
Current assets
Stocks 103,275 68,767
Debtors 5 430 1,450
Cash at bank and in hand 16,377 51,170
120,082 121,387
Creditors: amounts falling due within one year 6 (94,875) (35,879)
Net current assets 25,207 85,508
Total assets less current liabilities 117,489 185,688
Creditors: amounts falling due after more than one year 7 (36,436) (44,850)
Provisions for liabilities - -
Net assets 81,053 140,838
Capital and reserves
Called up share capital 2 2
Profit and loss account 81,051 140,836
Shareholders' funds 81,053 140,838
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.
SHAHZAD FAROOQ
Director
Approved by the board on 19 September 2023
NS RETAIL (UK) LIMITED
Notes to the Accounts
for the year ended 31 March 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 at 25% reducing balance.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 112,808
Additions -
Disposals -
At 31 March 2023 112,808
Amortisation
At 1 April 2022 27,072
Provided during the year 4,287
On disposals -
At 31 March 2023 31,359
Net book value
At 31 March 2023 81,449
At 31 March 2022 85,736
4 Tangible fixed assets
Fixtures & Fittings Motor Vehicles Total
£ £ £
Cost
At 1 April 2022 53,364 15,630 68,994
Additions - - -
Surplus on revaluation - - -
Disposals - - -
At 31 March 2023 53,364 15,630 68,994
Depreciation
At 1 April 2022 43,865 10,685 54,550
Charge for the year 2,375 1,236 3,611
Surplus on revaluation - - -
On disposals - - -
At 31 March 2023 46,240 11,921 58,161
Net book value
At 31 March 2023 7,124 3,709 10,833
At 31 March 2022 9,499 4,945 14,444
5 Debtors 2023 2022
£ £
Other debtors 430 1,450
430 1,450
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 5,000
Trade creditors 80,049 2,539
Taxation and social security costs 13,306 19,952
Other creditors 1,520 8,388
94,875 35,879
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 34,135 40,000
Obligations under finance lease and hire purchase contracts 2,301 2,106
Other creditors - 2,744
36,436 44,850
8 Other information
NS RETAIL (UK) LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
162 Darnley Street
Glasgow
G41 2LL
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