2022-04-012023-03-312023-03-31false10082216THE OLDE SWEET SHOP 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THE OLDE SWEET SHOP LIMITED

Registered Number
10082216
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

THE OLDE SWEET SHOP LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

PETTS, Andrew Michael
PETTS, Julie

Registered Address

6 Stubbs Close
Kirby Cross
Frinton-On-Sea
CO13 0TZ

Registered Number

10082216 (England and Wales)
THE OLDE SWEET SHOP LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets56,7888,866
6,7888,866
Current assets
Stocks68,5297,222
Debtors7260379
Cash at bank and on hand3,81311,976
12,60219,577
Creditors amounts falling due within one year8(10,991)(17,803)
Net current assets (liabilities)1,6111,774
Total assets less current liabilities8,39910,640
Net assets8,39910,640
Capital and reserves
Called up share capital22
Profit and loss account8,39710,638
Shareholders' funds8,39910,640
The financial statements were approved and authorised for issue by the Board of Directors on 21 November 2023, and are signed on its behalf by:
PETTS, Andrew Michael
Director
PETTS, Julie
Director

Registered Company No. 10082216
THE OLDE SWEET SHOP LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: 25% reducing balance
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year65
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 2216,0295,28515021,464
Additions--185185
At 31 March 2316,0295,28533521,649
Depreciation and impairment
At 01 April 228,5413,9916612,598
Charge for year1,872323682,263
At 31 March 2310,4134,31413414,861
Net book value
At 31 March 235,6169712016,788
At 31 March 227,4881,294848,866
6.Stocks

2023

2022

££
Other stocks8,5297,222
Total8,5297,222
7.Debtors

2023

2022

££
Other debtors-125
Prepayments and accrued income260254
Total260379
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,066999
Taxation and social security1,1484,073
Finance lease and HP contracts-1,000
Other creditors8,77711,731
Total10,99117,803
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.