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REGISTERED NUMBER: SC485684 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Penny Black Glasgow Limited

Penny Black Glasgow Limited (Registered number: SC485684)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Penny Black Glasgow Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: R Marwaha
R Marwaha
J Marwaha





REGISTERED OFFICE: 721 - 723 Great Western Road
Glasgow
G12 8QX





REGISTERED NUMBER: SC485684 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Penny Black Glasgow Limited (Registered number: SC485684)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 115,566 126,917

CURRENT ASSETS
Stocks 5 25,363 55,286
Debtors 6 86,453 68,093
Cash at bank 3,001 4,470
114,817 127,849
CREDITORS
Amounts falling due within one year 7 99,992 96,275
NET CURRENT ASSETS 14,825 31,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,391

158,491

CREDITORS
Amounts falling due after more than one
year

8

93,756

115,423
NET ASSETS 36,635 43,068

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 36,535 42,968
SHAREHOLDERS' FUNDS 36,635 43,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

Penny Black Glasgow Limited (Registered number: SC485684)

Balance Sheet - continued
30 September 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2024 and were signed on its behalf by:





R Marwaha - Director


Penny Black Glasgow Limited (Registered number: SC485684)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Penny Black Glasgow Limited is a private company, limited by shares , registered in Scotland. 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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 8 (2022 - 15 ) .

Penny Black Glasgow Limited (Registered number: SC485684)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
Property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 9,802 11,939 228,422 7,747 257,910
Additions - - 860 - 860
At 30 September 2023 9,802 11,939 229,282 7,747 258,770
DEPRECIATION
At 1 October 2022 - 8,288 119,607 3,098 130,993
Charge for year - 547 10,967 697 12,211
At 30 September 2023 - 8,835 130,574 3,795 143,204
NET BOOK VALUE
At 30 September 2023 9,802 3,104 98,708 3,952 115,566
At 30 September 2022 9,802 3,651 108,815 4,649 126,917

5. STOCKS
30.9.23 30.9.22
£    £   
Stocks 25,363 55,286

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 4,281 4,406
Associated Companies 82,172 63,687
86,453 68,093

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 54,636 50,027
Tax 4,796 9,815
Social security and other taxes 2,300 838
VAT 8,239 10,288
Directors' current accounts 3,485 -
Accrued expenses 26,536 25,307
99,992 96,275

Penny Black Glasgow Limited (Registered number: SC485684)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Other loans - 1-2 years 37,500 46,667
Loans 56,256 68,756
93,756 115,423

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary shares 1 100 100