2023-03-012024-02-292024-02-29false11851956ABBOT'S SHOES 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ABBOT'S SHOES LTD

(formerly ABBOT'S PLACE LTD)

Registered Number
11851956
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

ABBOT'S SHOES LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

LUCK, Adam Henry

Registered Address

Unit 2 40 Coldharbour Lane
Harpenden
AL5 4UN

Registered Number

11851956 (England and Wales)
ABBOT'S SHOES LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-537
Tangible assets47,8797,637
7,8798,174
Current assets
Stocks5119,083136,601
Debtors18,35114,812
Cash at bank and on hand18,88117,613
156,315169,026
Creditors amounts falling due within one year6(67,106)(108,398)
Net current assets (liabilities)89,20960,628
Total assets less current liabilities97,08868,802
Net assets97,08868,802
Capital and reserves
Called up share capital11
Profit and loss account97,08768,801
Shareholders' funds97,08868,802
The financial statements were approved and authorised for issue by the Director on 18 November 2024, and are signed on its behalf by:
LUCK, Adam Henry
Director
Registered Company No. 11851956
ABBOT'S SHOES LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Computer software is being amortised evenly over its estimated useful life of 3 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 232,0832,083
At 29 February 242,0832,083
Amortisation and impairment
At 01 March 231,5461,546
Charge for year537537
At 29 February 242,0832,083
Net book value
At 29 February 24--
At 28 February 23537537
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 March 2311,51611,516
Additions3,4893,489
At 29 February 2415,00515,005
Depreciation and impairment
At 01 March 233,8793,879
Charge for year3,2473,247
At 29 February 247,1267,126
Net book value
At 29 February 247,8797,879
At 28 February 237,6377,637
5.Stocks

2024

2023

££
Finished goods119,083136,601
Total119,083136,601
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables24,75840,495
Bank borrowings and overdrafts31,06857,712
Taxation and social security10,3309,206
Other creditors950985
Total67,106108,398
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.