Registered number
11562459
Pink Gift Store Limited
Filleted Accounts
30 September 2023
Pink Gift Store Limited
Registered number: 11562459
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 273 364
Current assets
Stocks 2,000 2,200
Cash at bank and in hand - 378
2,000 2,578
Creditors: amounts falling due within one year 4 (24,425) (22,627)
Net current liabilities (22,425) (20,049)
Net liabilities (22,152) (19,685)
Capital and reserves
Called up share capital 1 1
Profit and loss account (22,153) (19,686)
Shareholder's funds (22,152) (19,685)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mary Thomas
Director
Approved by the board on 29 July 2024
Pink Gift Store Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
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).
The financial statements are prepared on a going concern basis. The company is dependent upon the support of the director who has made loans to the company. The director has confirmed that they will continue to support the company and therefore the going concern basis is believed to be appropriate.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of good. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 578
At 30 September 2023 578
Depreciation
At 1 October 2022 214
Charge for the year 91
At 30 September 2023 305
Net book value
At 30 September 2023 273
At 30 September 2022 364
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 52 -
Other creditors 24,373 22,627
24,425 22,627
5 Other information
Pink Gift Store Limited is a private company limited by shares and incorporated in England. Its registered office is:
140 Blundell Road
Luton
LU3 1SP
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