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Registered Number: 06515171
England and Wales

 

 

 

HANDY STORES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Report to the directors on the preparation of the unaudited statutory accounts of Handy Stores Ltd for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Handy Stores Ltd for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/

This report is made solely to the Board of Directors of Handy Stores Ltd, as a body, in accordance with the terms of our engagement letter dated 01 April 2023 Our work has been undertaken solely to prepare for your approval the accounts of Handy Stores Ltd and state those matters that we have agreed to state to the Board of Directors of Handy Stores Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Handy Stores Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Handy Stores Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Handy Stores Ltd. You consider that Handy Stores Ltd is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of Handy Stores Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2024



....................................................
BdH Chartered Certified Accountants
Portsmouth Technopie
Kingston Crescent
Portsmouth
PO2 8FA
05 April 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 10,058    11,940 
10,058    11,940 
Current assets      
Stocks 22,568    23,116 
Debtors 3,967    1,049 
Cash at bank and in hand 23,452    27,143 
49,987    51,308 
Creditors: amount falling due within one year (25,134)   (33,651)
Net current assets 24,853    17,657 
 
Total assets less current liabilities 34,911    29,597 
Net assets 34,911    29,597 
 

Capital and reserves
     
Called up share capital 5 300    300 
Profit and loss account 34,611    29,297 
Shareholder's funds 34,911    29,597 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 05 April 2024 and were signed on its behalf by:


-------------------------------
Bharat Hathi
Director
2
General Information
Handy Stores Ltd is a private company, limited by shares, registered in England and Wales, registration number 06515171, registration address 95 Newcome Road, Fratton, Portsmouth, Hampshire, PO1 5DR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 33% Reducing Balance
Fixtures and Fittings 33% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 120,000    120,000 
Additions  
Disposals  
At 31 March 2024 120,000    120,000 
Amortisation
At 01 April 2023 120,000    120,000 
Charge for year  
On disposals  
At 31 March 2024 120,000    120,000 
Net book values
At 31 March 2024  
At 31 March 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023 27,231    5,649    32,880 
Additions    
Disposals    
At 31 March 2024 27,231    5,649    32,880 
Depreciation
At 01 April 2023 15,291    5,649    20,940 
Charge for year 1,882      1,882 
On disposals    
At 31 March 2024 17,173    5,649    22,822 
Net book values
Closing balance as at 31 March 2024 10,058      10,058 
Opening balance as at 01 April 2023 11,940      11,940 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3