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Registered Number: 14430714


 

 

 

RUGBY AFRICAN SHOP LTD


Abridged Accounts
 


Period of accounts

Start date: 19 October 2022

End date: 31 October 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
MCN ACCOUNTANTS LTD
31 October 2023



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

MCN ACCOUNTANTS LTD

14
Dragons Way
BARNET
EN5 2FL
29 September 2024
1
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 18,900 
18,900 
Current assets    
Debtors 9,758 
Cash at bank and in hand 514 
10,272 
Creditors: amount falling due within one year (31,116)
Net current assets (20,844)
 
Total assets less current liabilities (1,944)
Net assets (1,944)
 

Capital and reserves
   
Called up share capital 4 100 
Profit and loss account (2,044)
Shareholders' funds (1,944)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 September 2024 and were signed by:


-------------------------------
MR FRANK OLUWATOSIN OYEDEJI
Director
2
General Information
Rugby African Shop Ltd is a private company, limited by shares, registered in , registration number 14430714, registration address 154 Railway Terrace, Rugby, Warwickshire, CV21 3HN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Reducing Balance
Motor Vehicles 10% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 19 October 2022    
Additions 11,000    10,000    21,000 
Disposals    
At 31 October 2023 11,000    10,000    21,000 
Depreciation
At 19 October 2022    
Charge for period 1,100    1,000    2,100 
On disposals    
At 31 October 2023 1,100    1,000    2,100 
Net book values
Closing balance as at 31 October 2023 9,900    9,000    18,900 
Opening balance as at 19 October 2022    


4.

Share Capital

Allotted, called up and fully paid
2023
£
100 Class A shares of £1.00 each 100 
100 

5.

Advances and Credits



Youlend & Iwocca
The Business borrowed the sum of £14985.00 at the beginning of the financial year from Youlend, out which it has repaid 5899 with interests till date. Closing balance as at the 31.10.2023 is £9086. The Business also borrowed the sum of £6104.61 from Iwocca, out of which it has repaid £550 with interests till date. Closing balance as at the 31.10.2023 is £5554.61. Total Loan amount owed by the business to both Youlend & Iwocca is £14,640.61

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Youlend & Iwocca14,641 14,641 
014641000014641
3