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Registration number: 14547296

Bargain Clearance Centre Ltd

Unaudited Filleted Abridged Financial Statements

for the Period from 19 December 2022 to 31 December 2023

 

Bargain Clearance Centre Ltd

Contents

Abridged Balance Sheet

1

Statement of Changes in Equity

2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Bargain Clearance Centre Ltd

(Registration number: 14547296)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

Creditors: Amounts falling due within one year

100

Capital and reserves

 

Called up share capital

100

Shareholders' funds

 

100

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................

Mr Lee Taylor

Director

 

Bargain Clearance Centre Ltd

Statement of Changes in Equity for the Period from 19 December 2022 to 31 December 2023

Share capital
£

Total
£

New share capital subscribed

100

100

At 31 December 2023

100

100

 

Bargain Clearance Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 19 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
c/o McManus Hall Chartered Accountants
C11 Marquis Court
Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0RU

These financial statements were authorised for issue by the Board on 18 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Bargain Clearance Centre Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 19 December 2022 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 5.

4

Debtors

Debtors includes £Nil due after more than one year.