Registered number
13805411
178 Bargain House Ltd
Filleted Accounts
31 August 2023
Ref: B019
178 Bargain House Ltd
Registered number: 13805411
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Current assets
Stocks 556,300 700,500
Debtors 3 44,174 28,286
Cash at bank and in hand 33,267 179,692
633,741 908,478
Creditors: amounts falling due within one year 4 (611,235) (893,635)
Net current assets 22,506 14,843
Net assets 22,506 14,843
Capital and reserves
Called up share capital 10 10
Profit and loss account 22,496 14,833
Shareholder's funds 22,506 14,843
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 member has 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.
Mr Haihuan Hu
Director
Approved by the board on 26 October 2023
178 Bargain House Ltd
Notes to the Accounts
for the period from 1 January 2023 to 31 August 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. 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.
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. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Trade debtors 44,174 28,286
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 566,268 855,301
Taxation and social security costs 30,327 31,753
Other creditors 14,640 6,581
611,235 893,635
5 Other information
178 Bargain House Ltd is a private company limited by shares and incorporated in England. Its registered office is:
120 Broughton Street
Cheetham Hill
Manchester
M8 8AN
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