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REGISTERED NUMBER: 07428699 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Three Amigos Skate Shop Ltd.

Three Amigos Skate Shop Ltd. (Registered number: 07428699)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Three Amigos Skate Shop Ltd.

Company Information
for the Year Ended 30 November 2023







DIRECTORS: P Makarski
R A Weetch





REGISTERED OFFICE: 118 Camden Road
Camden
London
NW1 9EE





REGISTERED NUMBER: 07428699 (England and Wales)





ACCOUNTANTS: Preston Accountants Limited.
Chartered Certified Accountants
1 Carlton Parade
Preston Road
Wembley
Middlesex
HA9 8NE

Three Amigos Skate Shop Ltd. (Registered number: 07428699)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 1,243 1,553
1,243 1,553

CURRENT ASSETS
Inventories 12,500 21,500
Debtors 6 170 140
Cash at bank and in hand 3,767 26,673
16,437 48,313
CREDITORS
Amounts falling due within one year 7 28,634 46,306
NET CURRENT (LIABILITIES)/ASSETS (12,197 ) 2,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,954

)

3,560

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (10,974 ) 3,540
(10,954 ) 3,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Three Amigos Skate Shop Ltd. (Registered number: 07428699)

Balance Sheet - continued
30 November 2023


The 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





R A Weetch - Director


Three Amigos Skate Shop Ltd. (Registered number: 07428699)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Three Amigos Skate Shop Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Three Amigos Skate Shop Ltd. (Registered number: 07428699)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 97,000
AMORTISATION
At 1 December 2022
and 30 November 2023 97,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 3,129 10,185 13,314
DEPRECIATION
At 1 December 2022 2,462 9,299 11,761
Charge for year 133 177 310
At 30 November 2023 2,595 9,476 12,071
NET BOOK VALUE
At 30 November 2023 534 709 1,243
At 30 November 2022 667 886 1,553

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 170 140

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Tax - 1,077
VAT 668 1,192
Other creditors 14,566 14,566
Directors' loan accounts 12,421 28,421
Accrued expenses 979 1,050
28,634 46,306

Three Amigos Skate Shop Ltd. (Registered number: 07428699)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. GOING CONCERN

For the year ended 30 November 2023, the company recognised a loss of £14514.
The company's net current liabilities as at 30 June 2023 were £12197. This has reduced the company's cash resources.

The company is in the process of expansion which will therefore increase the sales in next accounting year.

As a result, these financial statements have been prepared on a going concern basis and do not include any adjustments to the carrying amounts and classification of assets, liabilities and reported expenses that may otherwise be required if the going concern basis was not appropriate.