IRIS Accounts Production v23.1.0.753 SC215781 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2157812022-02-28SC2157812023-02-28SC2157812022-03-012023-02-28SC2157812021-02-28SC2157812021-03-012022-02-28SC2157812022-02-28SC215781ns16:Scotland2022-03-012023-02-28SC215781ns15:PoundSterling2022-03-012023-02-28SC215781ns11:Director12022-03-012023-02-28SC215781ns11:PrivateLimitedCompanyLtd2022-03-012023-02-28SC215781ns11:SmallEntities2022-03-012023-02-28SC215781ns11:AuditExempt-NoAccountantsReport2022-03-012023-02-28SC215781ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-28SC215781ns11:FullAccounts2022-03-012023-02-28SC21578112022-03-012023-02-28SC215781ns11:Director22022-03-012023-02-28SC215781ns11:RegisteredOffice2022-03-012023-02-28SC215781ns6:CurrentFinancialInstruments2023-02-28SC215781ns6:CurrentFinancialInstruments2022-02-28SC215781ns6:Non-currentFinancialInstruments2023-02-28SC215781ns6:Non-currentFinancialInstruments2022-02-28SC215781ns6:ShareCapital2023-02-28SC215781ns6:ShareCapital2022-02-28SC215781ns6:RetainedEarningsAccumulatedLosses2023-02-28SC215781ns6:RetainedEarningsAccumulatedLosses2022-02-28SC215781ns6:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-28SC215781ns6:ComputerSoftware2022-03-012023-02-28SC215781ns6:PlantMachinery2022-03-012023-02-28SC215781ns6:FurnitureFittings2022-03-012023-02-28SC215781ns6:MotorVehicles2022-03-012023-02-28SC215781ns6:IntangibleAssetsOtherThanGoodwill2022-02-28SC215781ns6:IntangibleAssetsOtherThanGoodwill2023-02-28SC215781ns6:IntangibleAssetsOtherThanGoodwill2022-02-28SC215781ns6:PlantMachinery2022-02-28SC215781ns6:FurnitureFittings2022-02-28SC215781ns6:MotorVehicles2022-02-28SC215781ns6:ComputerEquipment2022-02-28SC215781ns6:ComputerEquipment2022-03-012023-02-28SC215781ns6:PlantMachinery2023-02-28SC215781ns6:FurnitureFittings2023-02-28SC215781ns6:MotorVehicles2023-02-28SC215781ns6:ComputerEquipment2023-02-28SC215781ns6:PlantMachinery2022-02-28SC215781ns6:FurnitureFittings2022-02-28SC215781ns6:MotorVehicles2022-02-28SC215781ns6:ComputerEquipment2022-02-28SC215781ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-28SC215781ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-28
REGISTERED NUMBER: SC215781 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Shop & Save Limited

Shop & Save Limited (Registered number: SC215781)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shop & Save Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: M Anees
Mrs N Anees





REGISTERED OFFICE: 6 High Street
Leven
Fife
KY8 4LZ





REGISTERED NUMBER: SC215781 (Scotland)





ACCOUNTANTS: akb Chartered Accountants
86 Albert Road
Glasgow
Lanarkshire
G42 8DR

Shop & Save Limited (Registered number: SC215781)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,922 18,651
Investment property 6 162,989 168,117
177,911 186,768

CURRENT ASSETS
Stocks 7 20,368 23,554
Debtors 8 290,849 177,769
Cash at bank and in hand 90,080 122,197
401,297 323,520
CREDITORS
Amounts falling due within one year 9 176,026 130,010
NET CURRENT ASSETS 225,271 193,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,182

380,278

CREDITORS
Amounts falling due after more than one year 10 (58,809 ) (75,687 )

PROVISIONS FOR LIABILITIES (2,613 ) (3,189 )
NET ASSETS 341,760 301,402

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 341,660 301,302
SHAREHOLDERS' FUNDS 341,760 301,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Shop & Save Limited (Registered number: SC215781)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2023 and were signed on its behalf by:





M Anees - Director


Shop & Save Limited (Registered number: SC215781)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Shop & Save Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Shop & Save Limited (Registered number: SC215781)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 3,500
AMORTISATION
At 1 March 2022
and 28 February 2023 3,500
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

Shop & Save Limited (Registered number: SC215781)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022
and 28 February 2023 27,555 86,833 14,404 1,862 130,654
DEPRECIATION
At 1 March 2022 13,918 83,516 13,962 607 112,003
Charge for year 2,727 663 88 251 3,729
At 28 February 2023 16,645 84,179 14,050 858 115,732
NET BOOK VALUE
At 28 February 2023 10,910 2,654 354 1,004 14,922
At 28 February 2022 13,637 3,317 442 1,255 18,651

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 256,383
DEPRECIATION
At 1 March 2022 88,266
Charge for year 5,128
At 28 February 2023 93,394
NET BOOK VALUE
At 28 February 2023 162,989
At 28 February 2022 168,117

7. STOCKS
28.2.23 28.2.22
£    £   
Stocks 20,368 23,554

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 290,849 177,769

Shop & Save Limited (Registered number: SC215781)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 11,327 11,748
Taxation and social security 15,788 12,539
Other creditors 148,911 105,723
176,026 130,010

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 32,937 49,265
Other creditors 25,872 26,422
58,809 75,687

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Energy Saving Loan 25,872 26,422

11. ULTIMATE CONTROLLING PARTY

Both Mr M Anees and Mrs N Anees are, jointly, the ultimate controlling party. Both are directors and hold 50% each of the share capital in the company.