Registered number
03121178
Oscars (Grimsby) Limited
Filleted Accounts
30 November 2023
Oscars (Grimsby) Limited
Registered number: 03121178
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 15,619 16,212
Current assets
Stocks 45,398 43,779
Debtors 5 19,139 49,139
Cash at bank and in hand 247,212 210,785
311,749 303,703
Creditors: amounts falling due within one year 6 (83,206) (116,900)
Net current assets 228,543 186,803
Net assets 244,162 203,015
Capital and reserves
Called up share capital 2 2
Profit and loss account 244,160 203,013
Shareholders' funds 244,162 203,015
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
S J Margetts
Director
Approved by the board on 20 August 2024
Oscars (Grimsby) Limited
Notes to the Accounts
for the year ended 30 November 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and the sale is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings 15% reducing balance
Office equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 20,000
At 30 November 2023 20,000
Amortisation
At 1 December 2022 20,000
At 30 November 2023 20,000
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures and fittings Office equipment Total
£ £ £
Cost
At 1 December 2022 115,245 13,598 128,843
Additions - 2,357 2,357
At 30 November 2023 115,245 15,955 131,200
Depreciation
At 1 December 2022 105,477 7,154 112,631
Charge for the year 1,461 1,489 2,950
At 30 November 2023 106,938 8,643 115,581
Net book value
At 30 November 2023 8,307 7,312 15,619
At 30 November 2022 9,768 6,444 16,212
5 Debtors 2023 2022
£ £
Trade debtors 19,139 49,139
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 26,478 36,308
Trade creditors 2,485 25,980
Taxation and social security costs 46,117 42,234
Other creditors 8,126 12,378
83,206 116,900
7 Related party transactions
During the year dividends were paid to shareholding director of £20,000 (2022: £44,000).

The balance owed to the director at the year end was £1407 (2022: £656).
8 Controlling party
The company is wholly controlled by the director.
9 Other information
Oscars (Grimsby) Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Abbey Road
Grimsby
North East Lincolnshire
DN32 0HQ
Its trading address is:
6 Abbeygate
Grimsby
North East Lincolnshire
DN31 1JY
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