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Company Registration No. SC653744 (Scotland)
Orzel Store Limited Unaudited accounts for the year ended 29 February 2024
Orzel Store Limited Unaudited accounts Contents
Page
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Orzel Store Limited Company Information for the year ended 29 February 2024
Directors
G Agnew C Agnew
Company Number
SC653744 (Scotland)
Registered Office
18 Mosshead Road Bearsden Glasgow G61 3HN
Accountants
Assenti & Noble Ltd 18 Mosshead Road Bearsden Glasgow G61 3HN
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Orzel Store Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,909 
2,448 
Current assets
Inventories
27,419 
17,160 
Debtors
9,555 
5,345 
Cash at bank and in hand
2,185 
1,997 
39,159 
24,502 
Creditors: amounts falling due within one year
(59,653)
(43,539)
Net current liabilities
(20,494)
(19,037)
Net liabilities
(18,585)
(16,589)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(18,685)
(16,689)
Shareholders' funds
(18,585)
(16,589)
For the year ending 29 February 2024 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by
G Agnew Director Company Registration No. SC653744
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Orzel Store Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Orzel Store Limited is a private company, limited by shares, registered in Scotland, registration number SC653744. The registered office is 18 Mosshead Road, Bearsden, Glasgow, G61 3HN.
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 the value, net of VAT and discounts, of goods provided to customers.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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:
Fixtures & fittings
20% straight line
Going concern
The balance sheet shows that the company has an excess of liabilities over assets. The accounts have been prepared on a going concern basis assuming the continuing support of the company's directors.
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Orzel Store Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2023
3,135 
Additions
110 
At 29 February 2024
3,245 
Depreciation
At 1 March 2023
687 
Charge for the year
649 
At 29 February 2024
1,336 
Net book value
At 29 February 2024
1,909 
At 28 February 2023
2,448 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,791 
- 
Accrued income and prepayments
7,764 
5,345 
9,555 
5,345 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
3,096 
3,144 
Other creditors
4,804 
5,109 
Loans from directors
50,753 
34,486 
Accruals
1,000 
800 
59,653 
43,539 
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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