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REGISTERED NUMBER: 07850610 (England and Wales)











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 2,277 2,787

Current assets
Stocks 7,750 12,500
Debtors 5 2,475 2,419
Cash at bank 5,557 10,729
15,782 25,648
Creditors
Amounts falling due within one year 6 9,249 16,387
Net current assets 6,533 9,261
Total assets less current liabilities 8,810 12,048

Creditors
Amounts falling due after more than one year 7 (6,178 ) (9,154 )

Provisions for liabilities 9 (433 ) (529 )
Net assets 2,199 2,365

Capital and reserves
Called up share capital 10 2,000 2,000
Retained earnings 199 365
Shareholders' funds 2,199 2,365

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.

ACCESSORY DEPOT (SALISBURY) LTD (REGISTERED NUMBER: 07850610)

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 23 August 2024 and were signed on its behalf by:





Mr A Luckett - Director


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
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
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Website development - 25% on cost
Computer equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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 2 (2022 - 2 ) .

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 1,153 2,841 4,442 8,436
Additions - - 336 336
Disposals - (156 ) - (156 )
At 30 November 2023 1,153 2,685 4,778 8,616
Depreciation
At 1 December 2022 1,153 1,415 3,081 5,649
Charge for year - 334 424 758
Eliminated on disposal - (68 ) - (68 )
At 30 November 2023 1,153 1,681 3,505 6,339
Net book value
At 30 November 2023 - 1,004 1,273 2,277
At 30 November 2022 - 1,426 1,361 2,787

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 2,475 2,419

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 2,999 2,936
Tax 70 284
Other creditors - 819
Directors' current accounts 5,471 11,618
Accruals and deferred income 709 730
9,249 16,387

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 2,999 2,999
Bank loans - 2-5 years 3,179 6,155
6,178 9,154

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 10,800 10,800
Between one and five years 37,800 43,200
In more than five years - 5,400
48,600 59,400

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 433 529

Deferred
tax
£   
Balance at 1 December 2022 529
Provided during year (96 )
Balance at 30 November 2023 433

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary A £1 1,000 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.