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REGISTERED NUMBER: SC557918 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

Allied Retail Sourcing Ltd

Allied Retail Sourcing Ltd (Registered number: SC557918)

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


Allied Retail Sourcing Ltd

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTOR: Mr W Steele





REGISTERED OFFICE: 17 Colvilles Park
East Kilbride
Glasgow
G75 0GZ





REGISTERED NUMBER: SC557918 (Scotland)





ACCOUNTANTS: R.A.M.
Unit 17, Colvilles Park
Kelvin Industrial Estate
East Kilbride
South Lanarkshire
G75 0GZ

Allied Retail Sourcing Ltd (Registered number: SC557918)

BALANCE SHEET
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,421 15,228

CURRENT ASSETS
Stocks 2,438 4,046
Debtors 5 307,763 247,305
Cash at bank and in hand 25,136 35,918
335,337 287,269
CREDITORS
Amounts falling due within one year 6 154,891 154,643
NET CURRENT ASSETS 180,446 132,626
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,867

147,854

CREDITORS
Amounts falling due after more than one
year

7

30,000

51,498
NET ASSETS 161,867 96,356

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 161,865 96,354
SHAREHOLDERS' FUNDS 161,867 96,356

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 director acknowledges his 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.

Allied Retail Sourcing Ltd (Registered number: SC557918)

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 director and authorised for issue on 2 June 2023 and were signed by:





Mr W Steele - Director


Allied Retail Sourcing Ltd (Registered number: SC557918)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Allied Retail Sourcing Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Allied Retail Sourcing Ltd (Registered number: SC557918)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 March 2022
and 28 February 2023 29,693
DEPRECIATION
At 1 March 2022 14,465
Charge for year 3,807
At 28 February 2023 18,272
NET BOOK VALUE
At 28 February 2023 11,421
At 28 February 2022 15,228

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 156,903 65,384
Other debtors 150,860 181,921
307,763 247,305

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Hire purchase contracts 1,499 1,499
Trade creditors 91,353 103,130
Taxation and social security (4,366 ) (10,032 )
Other creditors 66,405 60,046
154,891 154,643

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 30,000 50,000
Hire purchase contracts - 1,498
30,000 51,498

8. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Allied Retail Sourcing Ltd (Registered number: SC557918)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023


9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr W Steele.