REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
ACCESSORY DEPOT (SALISBURY) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
ACCESSORY DEPOT (SALISBURY) LTD |
ACCESSORY DEPOT (SALISBURY) LTD (REGISTERED NUMBER: 07850610) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
ACCESSORY DEPOT (SALISBURY) LTD (REGISTERED NUMBER: 07850610) |
BALANCE SHEET |
30 NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
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. |
ACCESSORY DEPOT (SALISBURY) LTD (REGISTERED NUMBER: 07850610) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ACCESSORY DEPOT (SALISBURY) LTD (REGISTERED NUMBER: 07850610) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | Statutory information |
Accessory Depot (Salisbury) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07850610. The registered office and business address is 21a Catherine Street, Salisbury, Wiltshire, SP1 2DF. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable, for the sale of phone accessories and repairs during the year. Turnover is recognised when the goods/services have been provided to the customer. |
Tangible fixed assets |
Website development | - |
Computer equipment | - |
Fixtures and fittings | - |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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 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. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
ACCESSORY DEPOT (SALISBURY) LTD (REGISTERED NUMBER: 07850610) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
4. | Tangible fixed assets |
Fixtures |
Website | Computer | and |
development | equipment | fittings | Totals |
£ | £ | £ | £ |
Cost |
At 1 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2023 |
Depreciation |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Tax |
Other creditors |
Directors' current accounts | 5,471 | 11,618 |
Accruals and deferred income |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
ACCESSORY DEPOT (SALISBURY) LTD (REGISTERED NUMBER: 07850610) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | Provisions for liabilities |
2023 | 2022 |
£ | £ |
Deferred tax | 433 | 529 |
Deferred |
tax |
£ |
Balance at 1 December 2022 |
Provided during year | ( |
) |
Balance at 30 November 2023 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 1,000 | 1,000 |
Ordinary B | £1 | 1,000 | 1,000 |
2,000 | 2,000 |
11. | Secured liabilities |
A charge was registered at Companies House on 5 December 2012 in the sum of £2,100 by Trinity Properties Overseas Limited, which entitles the landlord to deduct any rent arrears from the rent deposit paid in the event that the company defaults. |
The landlord subsequently changed in March 2013 and the new landlord, Beecholm Management Limited, took over the rent deposit and registered a charge at Companies House dated 28 March 2013 to the same effect. |
12. | Ultimate controlling party |
Mr A Luckett is deemed to be the ultimate controlling party of the company by virtue of his 100% ownership of the voting share capital. |