Registered number
SC706681
BIN KHALID ONLINE LTD
Filleted Accounts
31 August 2024
BIN KHALID ONLINE LTD
Registered number: SC706681
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets - -
Tangible assets 3 4,582 675
Investments - -
4,582 675
Current assets
Stocks 19,560 11,633
Debtors 4 29,725 187,295
Investments held as current assets - -
Cash at bank and in hand 22,384 9,106
71,669 208,034
Creditors: amounts falling due within one year 5 (66,941) (201,200)
Net current assets 4,728 6,834
Total assets less current liabilities 9,310 7,509
Creditors: amounts falling due after more than one year - -
Provisions for liabilities - -
Net assets 9,310 7,509
Capital and reserves
Called up share capital 100 100
Share premium - -
Revaluation reserve - -
Profit and loss account 9,210 7,409
Shareholder's funds 9,310 7,509
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
WASEEM KHALID
Director
Approved by the board on 9 September 2024
BIN KHALID ONLINE LTD
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at 10% reducing balance basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Fixtures & fittings Equipment Total
£ £ £
Cost
At 1 September 2023 - 833 833
Additions 2,411 2,005 4,416
Surplus on revaluation - - -
Disposals - - -
At 31 August 2024 2,411 2,838 5,249
Depreciation
At 1 September 2023 - 158 158
Charge for the year 241 268 509
Surplus on revaluation - - -
On disposals - - -
At 31 August 2024 241 426 667
Net book value
At 31 August 2024 2,170 2,412 4,582
At 31 August 2023 - 675 675
4 Debtors 2024 2023
£ £
Trade debtors - 171,294
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other debtors 29,725 16,001
29,725 187,295
5 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares 5,647 16,927
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors 50,830 181,376
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Taxation and social security costs 3,845 2,897
Other creditors 6,619 -
66,941 201,200
6 Off-balance sheet arrangements
None.
7 Other information
BIN KHALID ONLINE LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
345 VICTORIA ROAD
GLASGOW
G42 7SA
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