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Registered Number: 14006955


 

 

 

GREAT VALUE STORE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Director Abdul Hamid HAMIDI
Registered Number 14006955
Registered Office 8 Queensway
London
W2 3RX
Accountants Navab and Co. Accountants Ltd
GROUND FLOOR, 143-145 THE BROADWAY
WEST EALING
LONDON
W13 9BE
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 March 2024.
Principal activities
Principal activity of the company during the financial year was of Other retail sale in non-specialised stores
Director
The director who served the company throughout the year was as follows:
Abdul Hamid HAMIDI
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Abdul Hamid HAMIDI
Director

Date approved: 02 September 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . 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.
Navab and Co. Accountants Ltd
31 March 2024



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

Navab and Co. Accountants Ltd

GROUND FLOOR, 143-145 THE BROADWAY
WEST EALING
LONDON
W13 9BE
02 September 2024
3
 
 
Notes
 
2024
£
  2023
£
Turnover 38,137    119,088 
Cost of sales (19,821)   (59,695)
Gross profit 18,316    59,393 
Administrative expenses (17,671)   (56,622)
Operating profit 645    2,771 
Profit/(Loss) on ordinary activities before taxation 645    2,771 
Tax on profit on ordinary activities (123)   (526)
Profit/(Loss) for the financial year 522    2,245 
 
4
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3 8,901    13,114 
Cash at bank and in hand 5,692    13,458 
14,593    26,572 
Creditors: amount falling due within one year 4 (123)   (526)
Net current assets 14,470    26,046 
 
Total assets less current liabilities 14,470    26,046 
Creditors: amount falling due after more than one year 5 (11,603)   (23,701)
Net assets 2,867    2,345 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 2,767    2,245 
Shareholders' funds 2,867    2,345 
 


For the year ended 31 March 2024 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 year 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 financial statements were approved by the director on 02 September 2024 and were signed by:


-------------------------------
Abdul Hamid HAMIDI
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
Profit for the year 2,245  2,245 
Total comprehensive income for the year 2,245  2,245 
Shares issued 100  100 
Total investments by and distributions to owners 100  100 
At 31 March 2023 100  2,245  2,345 
At 01 April 2023 100  2,245  2,345 
Profit for the year 522  522 
Total comprehensive income for the year 522  522 
Total investments by and distributions to owners
At 31 March 2024 100  2,767  2,867 
6
General Information
Great Value Store Ltd is a private company, limited by shares, registered in , registration number 14006955, registration address 8 Queensway, London, W2 3RX.

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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 year was 1 (2023 : 1).
3.

Stocks

2024
£
  2023
£
Raw Materials 8,901    13,114 
8,901    13,114 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 123    526 
123    526 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Trade Creditors 11,603    16,201 
Other loans   7,500 
11,603    23,701 

7