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Company registration number: 11100830
GET STOCKED LTD
31 December 2023
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
GET STOCKED LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
GET STOCKED LTD
DIRECTORS AND OTHER INFORMATION
Director Miss A M Benbow
Company number 11100830
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address Little Broniarth
Pentre Beirdd
Welshpool
Powys
SY21 9DJ
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
GET STOCKED LTD
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GET STOCKED LTD
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 financial statements of Get Stocked Ltd for the year ended 31 December 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Get Stocked Ltd, as a body, in accordance with the terms of our engagement letter dated 24 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Get Stocked Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Get Stocked Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Get Stocked Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Get Stocked Ltd. You consider that Get Stocked Ltd 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 financial statements of Get Stocked Ltd. 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 financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
7 September 2024
GET STOCKED LTD
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 1,409 1,757
_______ _______
1,409 1,757
Current assets
Debtors 6 3,645 3,643
Cash at bank and in hand 54,014 51,250
_______ _______
57,659 54,893
Creditors: amounts falling due
within one year 7 ( 4,665) ( 4,344)
_______ _______
Net current assets 52,994 50,549
_______ _______
Total assets less current liabilities 54,403 52,306
Provisions for liabilities ( 268) ( 334)
_______ _______
Net assets 54,135 51,972
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 54,134 51,971
_______ _______
Shareholder funds 54,135 51,972
_______ _______
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Miss A M Benbow
Director
Company registration number: 11100830
GET STOCKED LTD
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 DECEMBER 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 1 51,000 51,001
Profit for the year 10,971 10,971
_______ _______ _______
Total comprehensive income for the year - 10,971 10,971
Dividends paid and payable ( 10,000) ( 10,000)
_______ _______ _______
Total investments by and distributions to owners - ( 10,000) ( 10,000)
_______ _______ _______
At 31 December 2022 and 1 January 2023 1 51,971 51,972
Profit for the year 11,133 11,133
_______ _______ _______
Total comprehensive income for the year - 11,133 11,133
Dividends paid and payable ( 8,970) ( 8,970)
_______ _______ _______
Total investments by and distributions to owners - ( 8,970) ( 8,970)
_______ _______ _______
At 31 December 2023 1 54,134 54,135
_______ _______ _______
GET STOCKED LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 2,220 2,220
Disposals ( 100) ( 100)
_______ _______
At 31 December 2023 2,120 2,120
_______ _______
Depreciation
At 1 January 2023 462 462
Charge for the year 249 249
_______ _______
At 31 December 2023 711 711
_______ _______
Carrying amount
At 31 December 2023 1,409 1,409
_______ _______
At 31 December 2022 1,758 1,758
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 3,645 3,643
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 2,723 2,346
Social security and other taxes - 18
Other creditors 1,942 1,980
_______ _______
4,665 4,344
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Miss A M Benbow ( 246) 112 ( 134)
_______ _______ _______
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Miss A M Benbow ( 312) 67 (245)
_______ _______ _______