2022-09-012023-08-312023-08-31false09103987MORE CONVENIENT 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MORE CONVENIENT LIMITED

Registered Number
09103987
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

MORE CONVENIENT LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Director

SCOTT, Barbara

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

09103987 (England and Wales)
MORE CONVENIENT LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets726,8739,413
26,8739,413
Current assets
Stocks64,20559,593
Debtors71,96312,514
Cash at bank and on hand34,841133,971
171,009206,078
Creditors amounts falling due within one year10(20,725)(25,558)
Net current assets (liabilities)150,284180,520
Total assets less current liabilities177,157189,933
Provisions for liabilities(5,106)(1,789)
Net assets172,051188,144
Capital and reserves
Called up share capital1010
Profit and loss account172,041188,134
Shareholders' funds172,051188,144
The financial statements were approved and authorised for issue by the Director on 22 February 2024, and are signed on its behalf by:
SCOTT, Barbara
Director
Registered Company No. 09103987
MORE CONVENIENT LIMITED
Notes to the Financial Statements
for the year ended 31 August 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.Principal activities
The principal activity of the company in the year under review was that of retail.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
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:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-33
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

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

Total

£
Cost or valuation
At 01 September 2221,853
Additions24,723
At 31 August 2346,576
Depreciation and impairment
At 01 September 2212,440
Charge for year7,263
At 31 August 2319,703
Net book value
At 31 August 2326,873
At 31 August 229,413
8.Description of nature of transactions and balances with related parties
During the period, total dividends of £30,000 (2022 : £8,500) were paid to the director. At the balance sheet date the company owed £8,915 (2022: £291) to the director which is an interest free loan with no fixed date for repayment. Related company loans: During the year, the company provided an interest free loan of £64,749 to a related company. There is no fixed date for repayment. At the balance sheet date, the entire balance was outstanding.
9.Debtors within one year

2023

2022

££
Other debtors65,4005,307
Prepayments and accrued income6,5637,207
Total71,96312,514
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables1911,607
Taxation and social security7,48421,616
Other creditors9,100490
Accrued liabilities and deferred income3,9501,845
Total20,72525,558
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.