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Company Registration No. 11124565 (England and Wales)
SHIPLEY DISCOUNT STORE LIMITED Unaudited accounts for the year ended 31 December 2023
SHIPLEY DISCOUNT STORE LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,403 
1,753 
Current assets
Inventories
8,275 
7,260 
Debtors
25,000 
25,000 
Cash at bank and in hand
16,728 
28,347 
50,003 
60,607 
Creditors: amounts falling due within one year
(21,322)
(23,406)
Net current assets
28,681 
37,201 
Total assets less current liabilities
30,084 
38,954 
Creditors: amounts falling due after more than one year
(23,550)
(33,390)
Provisions for liabilities
Deferred tax
(36)
(52)
Net assets
6,498 
5,512 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
6,398 
5,412 
Shareholders' funds
6,498 
5,512 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 February 2024 and were signed on its behalf by
Sajid Droz Director Company Registration No. 11124565
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SHIPLEY DISCOUNT STORE LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
SHIPLEY DISCOUNT STORE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11124565. The registered office is 5A WELLCROFT, RICHARDSON AVENUE, SHIPLEY, WEST YORKSHIRE, BD18 3QH, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Fixtures & fittings
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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SHIPLEY DISCOUNT STORE LIMITED Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
5,350 
At 31 December 2023
5,350 
Depreciation
At 1 January 2023
3,597 
Charge for the year
350 
At 31 December 2023
3,947 
Net book value
At 31 December 2023
1,403 
At 31 December 2022
1,753 
5
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
36 
52 
2023 
2022 
£ 
£ 
Provision at start of year
52 
74 
Credited to the profit and loss account
(16)
(22)
Provision at end of year
36 
52 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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