PATEL RETAIL LIMITED

Company Registration Number:
SC740544 (Scotland)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 01 September 2023

End date: 31 August 2024

PATEL RETAIL LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2024

Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

PATEL RETAIL LIMITED

Company Information

for the Period Ended 31 August 2024




Director: RIMABEN RITESHKUMAR PATEL
RITESHKUMAR PATEL
Registered office: 26
Hillcrest
Bo'Ness
GB-SCT
EH51 9HT
Company Registration Number: SC740544 (Scotland)

PATEL RETAIL LIMITED

Directors' Report Period Ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Principal Activities

The company's principal activity during the period was that of licensed grocers.

Directors

The directors shown below have held office during the whole of the period from 01 September 2023 to 31 August 2024
RIMABEN RITESHKUMAR PATEL

The director(s) shown below resigned during the period
RITESHKUMAR PATEL
29 July 2024

This report was approved by the board of directors on 20 September 2024
And Signed On Behalf Of The Board By:

Name: RIMABEN RITESHKUMAR PATEL
Status: Director

PATEL RETAIL LIMITED

Balance sheet

As at 31 August 2024


Notes

2024
£
13 months to
31 Aug 2023
£
Fixed assets
Tangible assets: 4 26,912 11,938
Total fixed assets: 26,912 11,938
Current assets
Stocks: 36,150 34,350
Debtors: 5 11,041 6,955
Cash at bank and in hand: 1,298 6,532
Total current assets: 48,489 47,837
Creditors: amounts falling due within one year: 6 ( 42,223 ) ( 58,119 )
Net current assets (liabilities): 6,266 ( 10,282 )
Total assets less current liabilities: 33,178 1,656
Creditors: amounts falling due after more than one year: 7 ( 27,755 )
Total net assets (liabilities): 5,423 1,656

The notes form part of these financial statements

PATEL RETAIL LIMITED

Balance sheet continued

As at 31 August 2024


Notes

2024
£
13 months to
31 Aug 2023
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 5,422 1,655
Shareholders funds: 5,423 1,656

For the year ending 31 August 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 20 September 2024
And Signed On Behalf Of The Board By:

Name: RIMABEN RITESHKUMAR PATEL
Status: Director

The notes form part of these financial statements

PATEL RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

PATEL RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees


    2024
    13 months to
    31 Aug 2023
    Average number of employees during the period 2 1

PATEL RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 3. Off balance sheet disclosure

    No

PATEL RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Tangible assets

Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £
At 01 September 2023 11,050 2,214 - 13,264
Additions - 639 16,707 17,346
Disposals - - - -
Revaluations - - - -
Transfers - - - -
At 31 August 2024 11,050 2,853 16,707 30,610
Depreciation
At 01 September 2023 1,105 221 - 1,326
Charge for year 995 263 1,114 2,372
On disposals - - - -
Other adjustments - - - -
At 31 August 2024 2,100 484 1,114 3,698
Net book value
At 31 August 2024 8,950 2,369 15,593 26,912
At 31 August 2023 9,945 1,993 - 11,938

PATEL RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Debtors


2024
£
13 months to
31 Aug 2023
£
Prepayments and accrued income 3,767 6,955
Other debtors 7,274
Total 11,041 6,955

PATEL RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

6.Creditors: amounts falling due within one year note


2024
£
13 months to
31 Aug 2023
£
Trade creditors 7,661 16,430
Taxation and social security 2,561 699
Accruals and deferred income 570
Other creditors 32,001 40,420
Total 42,223 58,119

PATEL RETAIL LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

7.Creditors: amounts falling due after more than one year


2024
£
13 months to
31 Aug 2023
£
Bank loans and overdrafts 4,572
Other creditors 23,183
Total 27,755