Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22023-03-01falseNo description of principal activity2 06505712 2023-03-01 2024-02-28 06505712 2022-03-01 2023-02-28 06505712 2024-02-28 06505712 2023-02-28 06505712 c:Director3 2023-03-01 2024-02-28 06505712 d:CurrentFinancialInstruments 2024-02-28 06505712 d:CurrentFinancialInstruments 2023-02-28 06505712 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 06505712 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06505712 d:ShareCapital 2024-02-28 06505712 d:ShareCapital 2023-02-28 06505712 d:RetainedEarningsAccumulatedLosses 2024-02-28 06505712 d:RetainedEarningsAccumulatedLosses 2023-02-28 06505712 c:FRS102 2023-03-01 2024-02-28 06505712 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 06505712 c:FullAccounts 2023-03-01 2024-02-28 06505712 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 06505712 6 2023-03-01 2024-02-28 06505712 e:PoundSterling 2023-03-01 2024-02-28 iso4217:GBP xbrli:pure

Registered number: 06505712


 







WHO NEEDS SHOPS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

 
WHO NEEDS SHOPS LIMITED
REGISTERED NUMBER: 06505712

BALANCE SHEET
AS AT 28 FEBRUARY 2024

2024
2024
2023
2023
                                                                       Note
£
£
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Debtors: amounts falling due within one year
 5 
604,891
374,890

Cash at bank and in hand
  
9,990
18,898

  
614,881
393,788

Creditors: amounts falling due within one year
 6 
(450,049)
(273,510)

Net current assets
  
 
 
164,832
 
 
120,278

  

Net assets
  
164,932
120,378


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
164,930
120,376

  
164,932
120,378


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2024.




R Payne
Director
Page 1

 
WHO NEEDS SHOPS LIMITED
REGISTERED NUMBER: 06505712
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2024


The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
WHO NEEDS SHOPS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

Who Needs Shops Limited ("the Company") is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 3

 
WHO NEEDS SHOPS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Taxation

Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 March 2023
100



At 28 February 2024
100




Page 4

 
WHO NEEDS SHOPS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

5.


Debtors

2024
2023
£
£


Other debtors
604,891
374,890



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
430,353
200,451

Corporation tax
4,560
-

VAT
12,012
409

Other creditors
100
70,130

Accruals and deferred income
3,024
2,520

450,049
273,510


 
Page 5