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The Buy Back Shop Limited

Financial Statements for the Year Ended 31 March 2024






The Buy Back Shop Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S P Johns





REGISTERED OFFICE: 72 Holton Road
Barry
Vale of Glamorgan
CF63 4HE





REGISTERED NUMBER: 11352070 (England and Wales)





ACCOUNTANTS: BPU Limited
The Counting House
Pound Field
Llantwit Major
Vale of Glamorgan
CF61 1DL

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
The Buy Back Shop Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Buy Back Shop Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Buy Back Shop Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Buy Back Shop Limited and state those matters that we have agreed to state to the director of The Buy Back Shop Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Buy Back Shop Limited and its director for our work or for this report.

It is your duty to ensure that The Buy Back Shop Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Buy Back Shop Limited. You consider that The Buy Back Shop Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Buy Back Shop Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited


6 November 2024

The Buy Back Shop Limited (Registered number: 11352070)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,606 2,007

CURRENT ASSETS
Stocks 4,477 5,333
Debtors 5 288 1,936
Cash at bank and in hand 4,398 2,434
9,163 9,703
CREDITORS
Amounts falling due within one year 6 32,623 22,138
NET CURRENT LIABILITIES (23,460 ) (12,435 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(21,854

)

(10,428

)

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (21,864 ) (10,438 )
SHAREHOLDERS' FUNDS (21,854 ) (10,428 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Buy Back Shop Limited (Registered number: 11352070)

Balance Sheet - continued
31 March 2024


The 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.

The financial statements were approved by the director and authorised for issue on 6 November 2024 and were signed by:





S P Johns - Director


The Buy Back Shop Limited (Registered number: 11352070)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

The Buy Back Shop Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents value of income from the retail sale of secondhand goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

The Buy Back Shop Limited (Registered number: 11352070)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 6,000
DEPRECIATION
At 1 April 2023 3,993
Charge for year 401
At 31 March 2024 4,394
NET BOOK VALUE
At 31 March 2024 1,606
At 31 March 2023 2,007

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 288 -
Other debtors & prepayments - 1,936
288 1,936

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 360 -
Taxes & social security costs 560 146
Other creditors & accruals 31,703 21,992
32,623 22,138

The company meets its day to day working capital requirements with the support of the directors. The directors will continue to support the company as necessary.