Company Registration No. 10625460 (England and Wales)
DISCOUNTED PRICE LIMITED
Unaudited accounts
for the year ended 28 February 2023
DISCOUNTED PRICE LIMITED
Unaudited accounts
Contents
DISCOUNTED PRICE LIMITED
Company Information
for the year ended 28 February 2023
Company Number
10625460 (England and Wales)
Registered Office
67 WEEKES DRIVE
SLOUGH
SL1 2YN
UNITED KINGDOM
DISCOUNTED PRICE LIMITED
Statement of financial position
as at 28 February 2023
Tangible assets
4,212
5,290
Inventories
235,000
220,000
Cash at bank and in hand
30,822
3,932
Creditors: amounts falling due within one year
(346,969)
(295,508)
Net current assets
68,573
78,144
Total assets less current liabilities
72,785
83,434
Creditors: amounts falling due after more than one year
(23,575)
(34,469)
Called up share capital
1
1
Profit and loss account
49,209
48,964
Shareholders' funds
49,210
48,965
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
Shoaib Aslam
Director
Company Registration No. 10625460
DISCOUNTED PRICE LIMITED
Notes to the Accounts
for the year ended 28 February 2023
DISCOUNTED PRICE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10625460. The registered office is 67 WEEKES DRIVE, SLOUGH, SL1 2YN, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 28 February 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on reducing balance
Computer equipment
25% on reducing balance
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2022
6,794
516
7,310
At 28 February 2023
6,794
516
7,310
At 1 March 2022
1,891
129
2,020
Charge for the year
981
97
1,078
At 28 February 2023
2,872
226
3,098
At 28 February 2023
3,922
290
4,212
At 28 February 2022
4,903
387
5,290
DISCOUNTED PRICE LIMITED
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
Other debtors
149,720
149,720
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,699
14,448
Taxes and social security
17,040
10,138
Other creditors
5,308
5,001
Loans from directors
223,245
234,658
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).