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COMPANY REGISTRATION NUMBER: 13860495
BACK OF THE SHOP LTD
Filleted Unaudited Financial Statements
31 March 2024
BACK OF THE SHOP LTD
Statement of Financial Position
31 March 2024
31 Mar 24
31 Jan 23
Note
£
£
Fixed assets
Investments
4
400
400
Current assets
Debtors
5
208,000
Cash at bank and in hand
2,110,566
765,000
------------
---------
2,110,566
973,000
Creditors: amounts falling due within one year
6
4,230
900
------------
---------
Net current assets
2,106,336
972,100
------------
---------
Total assets less current liabilities
2,106,736
972,500
------------
---------
Net assets
2,106,736
972,500
------------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,106,636
972,400
------------
---------
Shareholders funds
2,106,736
972,500
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the Period ending 31 March 2024 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 financial statements for the Period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BACK OF THE SHOP LTD
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
Shahriyar Mohit Zadeh
Nima Ghodrati
Director
Director
Company registration number: 13860495
BACK OF THE SHOP LTD
Notes to the Financial Statements
Period from 1 February 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Videk House, Kingsbury Works, Kingsbury Road, England, NW9 8RW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
Shares in group undertakings
£
Cost
At 1 February 2023 and 31 March 2024
400
----
Impairment
At 1 February 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
400
----
At 31 January 2023
400
----
5. Debtors
31 Mar 24
31 Jan 23
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
208,000
----
---------
6. Creditors: amounts falling due within one year
31 Mar 24
31 Jan 23
£
£
Corporation tax
2,730
Other creditors
1,500
900
-------
----
4,230
900
-------
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