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Registration number: 11066988

No. 4 Market Place Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

No. 4 Market Place Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

No. 4 Market Place Ltd

Company Information

Director

L J Franks

Company secretary

L J Franks

Registered office

4 Market Place
Wincanton
Somerset
BA9 9LD

Accountants

Burton Sweet Limited
Chartered Acountants and Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

No. 4 Market Place Ltd

(Registration number: 11066988)
Balance Sheet
30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

775

1,034

Current assets

 

Stocks

5

3,500

7,000

Debtors

6

2,325

2,178

Cash at bank and in hand

 

135

482

 

5,960

9,660

Creditors: Amounts falling due within one year

7

(43,715)

(43,349)

Net current liabilities

 

(37,755)

(33,689)

Total assets less current liabilities

 

(36,980)

(32,655)

Creditors: Amounts falling due after more than one year

7

(4,628)

(7,068)

Net liabilities

 

(41,608)

(39,723)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(41,609)

(39,724)

Shareholders' deficit

 

(41,608)

(39,723)

 

No. 4 Market Place Ltd

(Registration number: 11066988)
Balance Sheet
30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the director on 9 August 2024
 

.........................................
L J Franks
Company secretary and director

 

No. 4 Market Place Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Market Place
Wincanton
Somerset
BA9 9LD

These financial statements were authorised for issue by the director on 9 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been preared on a going concern basis due ot the ongoing support of the director.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

No. 4 Market Place Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

25% per annum reducing balance

Fixtures and fittings

25% per annum reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business and are recognised initially at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

No. 4 Market Place Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

3,858

504

4,362

At 30 November 2023

3,858

504

4,362

Depreciation

At 1 December 2022

2,943

385

3,328

Charge for the year

229

30

259

At 30 November 2023

3,172

415

3,587

Carrying amount

At 30 November 2023

686

89

775

At 30 November 2022

915

119

1,034

 

No. 4 Market Place Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

5

Stocks

2023
£

2022
£

Other inventories

3,500

7,000

6

Debtors

2023
£

2022
£

Other debtors

2,325

2,178

2,325

2,178

 

No. 4 Market Place Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

2,400

2,400

Trade creditors

-

238

Taxation and social security

-

290

Accruals and deferred income

3,924

3,840

Other creditors

37,391

36,581

43,715

43,349