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SHOP "N" SAVE (BELLSHILL) LIMITED

Registered Number
SC383496
(Scotland)

Unaudited Financial Statements for the Year ended
30 April 2024

SHOP "N" SAVE (BELLSHILL) LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

AKHTAR, Munir
AKHTAR, Naseem
AKHTAR, Zubair

Registered Address

4d Auchingramont Road
Hamilton
ML3 6JT

Place of Business

70-72 Mansfield Road

Bellshill

ML4 3AQ


Registered Number

SC383496 (Scotland)
SHOP "N" SAVE (BELLSHILL) LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3511,532
Tangible assets4163,279160,936
163,284172,468
Current assets
Stocks5137,41299,643
Current asset investments62,8502,850
Cash at bank and on hand2,0322,638
142,294105,131
Creditors amounts falling due within one year7(257,716)(256,247)
Net current assets (liabilities)(115,422)(151,116)
Total assets less current liabilities47,86221,352
Creditors amounts falling due after one year8(11,494)(20,892)
Net assets36,368460
Capital and reserves
Called up share capital1212
Profit and loss account36,356448
Shareholders' funds36,368460
The financial statements were approved and authorised for issue by the Board of Directors on 26 September 2024, and are signed on its behalf by:
AKHTAR, Munir
Director
AKHTAR, Naseem
Director
AKHTAR, Zubair
Director

Registered Company No. SC383496
SHOP "N" SAVE (BELLSHILL) LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings15
Vehicles25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year2117
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 May 23633,300633,300
At 30 April 24633,300633,300
Amortisation and impairment
At 01 May 23621,768621,768
Charge for year11,52711,527
At 30 April 24633,295633,295
Net book value
At 30 April 2455
At 30 April 2311,53211,532
4.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 May 23160,9271,400117,097279,424
Additions--3,4303,430
At 30 April 24160,9271,400120,527282,854
Depreciation and impairment
At 01 May 23-1,399117,089118,488
Charge for year--1,0871,087
At 30 April 24-1,399118,176119,575
Net book value
At 30 April 24160,92712,351163,279
At 30 April 23160,92718160,936
5.Stocks

2024

2023

££
Other stocks137,41299,643
Total137,41299,643
6.Current asset investments
Investments in shares are included at fair value.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,38226,551
Bank borrowings and overdrafts23,21721,582
Amounts owed to related parties27,55612,626
Taxation and social security173,536173,258
Other creditors19,24919,249
Accrued liabilities and deferred income2,7762,981
Total257,716256,247
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts11,49420,892
Total11,49420,892
9.Related party transactions
During the year, the company received an interest free loan from the directors amounting to £27,556 (2023: £12,626).