IRIS Accounts Production v24.2.0.383 08394584 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh083945842023-02-28083945842024-02-29083945842023-03-012024-02-29083945842022-02-28083945842022-03-012023-02-28083945842023-02-2808394584ns15:EnglandWales2023-03-012024-02-2908394584ns14:PoundSterling2023-03-012024-02-2908394584ns10:Director12023-03-012024-02-2908394584ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2908394584ns10:SmallEntities2023-03-012024-02-2908394584ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2908394584ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2908394584ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2908394584ns10:FullAccounts2023-03-012024-02-2908394584ns10:OrdinaryShareClass12023-03-012024-02-2908394584ns10:Director22023-03-012024-02-2908394584ns10:RegisteredOffice2023-03-012024-02-2908394584ns5:CurrentFinancialInstruments2024-02-2908394584ns5:CurrentFinancialInstruments2023-02-2808394584ns5:Non-currentFinancialInstruments2024-02-2908394584ns5:Non-currentFinancialInstruments2023-02-2808394584ns5:ShareCapital2024-02-2908394584ns5:ShareCapital2023-02-2808394584ns5:RetainedEarningsAccumulatedLosses2024-02-2908394584ns5:RetainedEarningsAccumulatedLosses2023-02-2808394584ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-03-012024-02-2908394584ns5:FurnitureFittings2023-03-012024-02-2908394584ns5:ComputerEquipment2023-03-012024-02-2908394584ns5:LandBuildings2023-02-2808394584ns5:LeaseholdImprovements2023-02-2808394584ns5:PlantMachinery2023-02-2808394584ns5:LandBuildings2023-03-012024-02-2908394584ns5:LeaseholdImprovements2023-03-012024-02-2908394584ns5:PlantMachinery2023-03-012024-02-2908394584ns5:LandBuildings2024-02-2908394584ns5:LeaseholdImprovements2024-02-2908394584ns5:PlantMachinery2024-02-2908394584ns5:LandBuildings2023-02-2808394584ns5:LeaseholdImprovements2023-02-2808394584ns5:PlantMachinery2023-02-2808394584ns5:FurnitureFittings2023-02-2808394584ns5:MotorVehicles2023-02-2808394584ns5:ComputerEquipment2023-02-2808394584ns5:MotorVehicles2023-03-012024-02-2908394584ns5:FurnitureFittings2024-02-2908394584ns5:MotorVehicles2024-02-2908394584ns5:ComputerEquipment2024-02-2908394584ns5:FurnitureFittings2023-02-2808394584ns5:MotorVehicles2023-02-2808394584ns5:ComputerEquipment2023-02-2808394584ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2908394584ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2808394584ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-02-2908394584ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-02-2808394584ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-02-2908394584ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-2808394584ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2908394584ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2808394584ns5:Secured2024-02-2908394584ns5:Secured2023-02-2808394584ns5:DeferredTaxation2023-02-2808394584ns5:DeferredTaxation2023-03-012024-02-2908394584ns5:DeferredTaxation2024-02-2908394584ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 08394584 (England and Wales)





























Unaudited Financial Statements for the Year Ended 29 February 2024

for

Allsorts Accessories Ltd

Allsorts Accessories Ltd (Registered number: 08394584)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allsorts Accessories Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Miss Lisa May Conway
Mr Andrew Robert Joseph Payton



REGISTERED OFFICE: Resource House
Kay Street
Bury
Lancashire
BL9 6BU



REGISTERED NUMBER: 08394584 (England and Wales)



ACCOUNTANTS: DonnellyBentley Limited
Chartered Accountants
Hazlemere
70 Chorley New Road
Bolton
Lancashire
BL1 4BY



BANKERS: National Westminster Bank Plc

Allsorts Accessories Ltd (Registered number: 08394584)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 199,170 164,117

CURRENT ASSETS
Stocks 5 8,500 19,500
Debtors 6 1,073 2,243
Cash at bank and in hand 61,771 12,465
71,344 34,208
CREDITORS
Amounts falling due within one year 7 (58,289 ) (59,085 )
NET CURRENT ASSETS/(LIABILITIES) 13,055 (24,877 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,225

139,240

CREDITORS
Amounts falling due after more than one
year

8

(87,560

)

(86,881

)

PROVISIONS FOR LIABILITIES 10 (9,917 ) (779 )
NET ASSETS 114,748 51,580

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 114,746 51,578
SHAREHOLDERS' FUNDS 114,748 51,580

Allsorts Accessories Ltd (Registered number: 08394584)

Balance Sheet - continued
29 February 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





Mr Andrew Robert Joseph Payton - Director


Allsorts Accessories Ltd (Registered number: 08394584)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks 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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 9 ) .

Allsorts Accessories Ltd (Registered number: 08394584)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 March 2023 166,374 - -
Additions - 17,120 3,450
At 29 February 2024 166,374 17,120 3,450
DEPRECIATION
At 1 March 2023 5,371 - -
Charge for year 1,499 103 460
At 29 February 2024 6,870 103 460
NET BOOK VALUE
At 29 February 2024 159,504 17,017 2,990
At 28 February 2023 161,003 - -

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 7,827 - 4,558 178,759
Additions - 17,974 1,202 39,746
At 29 February 2024 7,827 17,974 5,760 218,505
DEPRECIATION
At 1 March 2023 5,033 - 4,238 14,642
Charge for year 699 1,348 584 4,693
At 29 February 2024 5,732 1,348 4,822 19,335
NET BOOK VALUE
At 29 February 2024 2,095 16,626 938 199,170
At 28 February 2023 2,794 - 320 164,117

5. STOCKS
2024 2023
£    £   
Stocks 8,500 19,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,073 750
Directors' current accounts - 1,493
1,073 2,243

Allsorts Accessories Ltd (Registered number: 08394584)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,511 12,967
Trade creditors 29 1,299
Corporation tax 32,092 20,625
Social security and other taxes 366 1,663
Wages Control 145 145
VAT 9,287 6,019
Other creditors 252 7,661
Directors' current accounts 8,460 7,613
Accrued expenses 1,147 1,093
58,289 59,085

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 14,077 12,967
Bank loans - 2-5 years 42,231 38,901
Bank loans more 5 yr by instal 31,252 35,013
87,560 86,881

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 31,252 35,013

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 94,071 99,848

The bank loan is secured on the land and buildings.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,917 779

Deferred
tax
£   
Balance at 1 March 2023 779
Provided during year 9,138
Balance at 29 February 2024 9,917

Allsorts Accessories Ltd (Registered number: 08394584)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2