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Company Registration No. 06998679 (England and Wales)
Great Witley Shop Limited Unaudited accounts for the year ended 31 December 2023
Great Witley Shop Limited Unaudited accounts Contents
Page
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Great Witley Shop Limited Company Information for the year ended 31 December 2023
Director
Mrs S C Lickman
Secretary
Mr M H Lickman
Company Number
06998679 (England and Wales)
Registered Office
The Retreat, 70 Structon's Heath Great Witley Worcestershire WR6 6JA
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Great Witley Shop Limited Accountants' report
Accountants' report to the director of Great Witley Shop Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Great Witley Shop Limited for the year ended 31 December 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Great Witley Shop Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Great Witley Shop Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Great Witley Shop Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Great Witley Shop Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Great Witley Shop Limited. You consider that Great Witley Shop Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Great Witley Shop Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
10 September 2024
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Great Witley Shop Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,826 
2,437 
Current assets
Inventories
18,357 
18,644 
Debtors
1,734 
1,179 
Cash at bank and in hand
212,111 
185,370 
232,202 
205,193 
Creditors: amounts falling due within one year
(16,369)
(16,511)
Net current assets
215,833 
188,682 
Total assets less current liabilities
217,659 
191,119 
Provisions for liabilities
Deferred tax
(348)
(464)
Net assets
217,311 
190,655 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
217,309 
190,653 
Shareholders' funds
217,311 
190,655 
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 her 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 10 September 2024 and were signed on its behalf by
Mrs S C Lickman Director Company Registration No. 06998679
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Great Witley Shop Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Great Witley Shop Limited is a private company, limited by shares, registered in England and Wales, registration number 06998679. The registered office is The Retreat, 70 Structon's Heath, Great Witley, Worcestershire, WR6 6JA.
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 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.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.
Intangible fixed assets
Intangible fixed assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery
10% on cost
Fixtures & 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 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.
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Great Witley Shop Limited Notes to the Accounts for the year ended 31 December 2023
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 and that they 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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs
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.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 January 2023
25,000 
At 31 December 2023
25,000 
Amortisation
At 1 January 2023
25,000 
At 31 December 2023
25,000 
Net book value
At 31 December 2023
- 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
37,989 
At 31 December 2023
37,989 
Depreciation
At 1 January 2023
35,552 
Charge for the year
611 
At 31 December 2023
36,163 
Net book value
At 31 December 2023
1,826 
At 31 December 2022
2,437 
6
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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