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Company Registration No. 14512488 (England and Wales)
Pound Redeemed Ltd Unaudited accounts for the period from 29 November 2022 to 30 November 2023
Pound Redeemed Ltd Unaudited accounts Contents
Page
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Pound Redeemed Ltd Company Information for the period from 29 November 2022 to 30 November 2023
Director
Elizabeth Lindsay
Company Number
14512488 (England and Wales)
Registered Office
20c Selsdon Road South Croydon CR2 6PA England
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Pound Redeemed Ltd Statement of financial position as at 30 November 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
1,115 
Current assets
Inventories
9,130 
Debtors
6,125 
Cash at bank and in hand
1,030 
16,285 
Creditors: amounts falling due within one year
(27,943)
Net current liabilities
(11,658)
Net liabilities
(10,543)
Capital and reserves
Called up share capital
1 
Profit and loss account
(10,544)
Shareholders' funds
(10,543)
For the period ending 30 November 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 her 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 9 August 2024 and were signed on its behalf by
Elizabeth Lindsay Director Company Registration No. 14512488
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Pound Redeemed Ltd Notes to the Accounts for the period from 29 November 2022 to 30 November 2023
1
Statutory information
Pound Redeemed Ltd is a private company, limited by shares, registered in England and Wales, registration number 14512488. The registered office is 20c Selsdon Road, South Croydon, CR2 6PA, England.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The directors have made this assessment based on the company’s current financial position, cash flow forecasts, and access to sufficient financing. They have considered the potential impact of market conditions, including any uncertainties related to the retail sector, supply chain disruptions, and economic factors. Based on this evaluation, the directors have a reasonable expectation that the company has adequate resources to continue its operations and meet its obligations as they fall due. Therefore, they have adopted the going concern basis in preparing these financial statements.
Inventories
The closing inventory as of 30 November 2023 is valued at £9,130 which is determined in accordance with IAS 2. Inventory is stated at the lower of cost or net realizable value, with cost being calculated using the Weighted Average method. The inventory primarily consists of finished goods held for sale, which are subject to regular review for obsolescence and slow movement. Any necessary write-downs to net realizable value have been recognized during the period to reflect inventory items that are not expected to be sold above cost. The management has reviewed the inventory for potential impairments and believes that the carrying amount of the inventory is fully recoverable.
Other Debtors
The debtor balance as of 30 November 2023 includes an advance deposit of £6,125 for the lease of retail shop premises. This deposit has been paid to secure the lease agreement and is classified as a current asset within the financial statements, given that it is expected to be recovered at the end of the lease term. The deposit is measured at its original cost, as it does not bear interest. Management has assessed the recoverability of this deposit and believes there are no indicators of impairment. The deposit will remain on the balance sheet until the conclusion of the lease, at which point it will either be refunded or applied against any outstanding lease obligations.
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% - Reducing Balance Method
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Pound Redeemed Ltd Notes to the Accounts for the period from 29 November 2022 to 30 November 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 29 November 2022
- 
Additions
1,394 
At 30 November 2023
1,394 
Depreciation
Charge for the period
279 
At 30 November 2023
279 
Net book value
At 30 November 2023
1,115 
5
Debtors
2023 
£ 
Amounts falling due within one year
Other debtors
6,125 
6
Creditors: amounts falling due within one year
2023 
£ 
Loans from directors
27,943 
7
Average number of employees
During the period the average number of employees was 1.
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