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Registered Number: 12253118
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 31 October 2023

for

BARGAIN BASEMENT ELECTRONICS LTD

 
 
Notes
 
2023
£
  2022
£
Current assets
Inventories 2 1,395,120   
Debtors 3 19,013   
Cash at bank and in hand 34,209    14,222 
1,448,342    14,222 
Creditors: amount falling due within one year 4 (60,516)   (31,932)
Net current assets 1,387,826    (17,710)
 
Total assets less current liabilities 1,387,826    (17,710)
Creditors: amount falling due after more than one year 5 (1,176,602)   (40,000)
Net assets 211,224    (57,710)
 

Capital and reserves
Called up share capital 200    200 
Profit and loss account 6 211,024    (57,910)
Shareholders fund 211,224    (57,710)
 
For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 of the companies act 2006.
  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 in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.
Signed on behalf of the board of directors:


----------------------------------
Tyler Cooper
Director

Date approved: 02 August 2024
1
Statutory Information
BARGAIN BASEMENT ELECTRONICS LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 12253118, registration address Suite G04 1 Quality Court, Chancery Lane, London, England, WC2A 1HR, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
2.

Inventories

2023
£
  2022
£
Finished goods 1,395,120   
1,395,120   
3.

Debtors: amounts falling due within one year

2023
£
  2022
£
Vat 19,013   
19,013   
4.

Creditors: amount falling due within one year

2023
£
  2022
£
Accrued expenses 480    958 
Directors' current accounts   20,130 
Corporation tax 60,036    10,844 
60,516    31,932 
5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Other creditors 40,000    40,000 
Directors' loan accounts 1,125,758   
Corporation tax 10,844   
1,176,602    40,000 
6.

Profit and loss account

  2023
£
Balance at 01 November 2022 (57,910)
Profit for the year 308,934 
Equity dividend paid (40,000)
Balance at 31 October 2023 211,024 

7.

Average number of employees

Average number of employees during the year was 1  (2022: 1).
2