Registered number
SC648792
Pram Shop Kirkcaldy Ltd
Filleted Accounts
31 December 2023
Pram Shop Kirkcaldy Ltd
Registered number: SC648792
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,387 1,768
Current assets
Stocks 69,398 46,425
Cash at bank and in hand 11,637 14,148
81,035 60,573
Creditors: amounts falling due within one year 4 (12,768) (4,321)
Net current assets 68,267 56,252
Total assets less current liabilities 69,654 58,020
Creditors: amounts falling due after more than one year 5 (26,888) (32,949)
Provisions for liabilities (264) (336)
Net assets 42,502 24,735
Capital and reserves
Called up share capital 100 100
Profit and loss account 42,402 24,635
Shareholders' funds 42,502 24,735
The director is 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 director acknowledges his 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.
V Blankenstein
Director
Approved by the board on 30 August 2024
Pram Shop Kirkcaldy Ltd
Notes to the Accounts
for the year ended 31 December 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 is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Motor Vehicles 25% by Reducing Balance
Plant and Machinery 15% by 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current 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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 918 2,292 3,210
At 31 December 2023 918 2,292 3,210
Depreciation
At 1 January 2023 305 1,137 1,442
Charge for the year 92 289 381
At 31 December 2023 397 1,426 1,823
Net book value
At 31 December 2023 521 866 1,387
At 31 December 2022 613 1,155 1,768
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 2,648
Wages Control Account - (1,350)
Trade creditors 13,384 10,261
Taxation and social security costs (938) 1,142
Other creditors 322 (8,380)
12,768 4,321
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,388 33,449
Family Loans (500) (500)
26,888 32,949
6 Other information
Pram Shop Kirkcaldy Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
No.1 Victoria Road
Kirkcaldy
Fife
KY1 1DT
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