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REGISTERED NUMBER: 04656632 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

BARGAIN BOX (WEST WALES) LIMITED

BARGAIN BOX (WEST WALES) LIMITED (REGISTERED NUMBER: 04656632)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BARGAIN BOX (WEST WALES) LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: Mr P A Marsden
Mrs S J Marsden





SECRETARY:





REGISTERED OFFICE: 8 High Street
Narberth
Pembrokeshire
SA67 7AR





REGISTERED NUMBER: 04656632 (England and Wales)





ACCOUNTANTS: L M Griffiths & Co Limited
Chartered Certified Accountants
1&2 Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1SB

BARGAIN BOX (WEST WALES) LIMITED (REGISTERED NUMBER: 04656632)

STATEMENT OF FINANCIAL POSITION
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 124,292 111,523
124,292 111,523

CURRENT ASSETS
Inventory 120,000 105,000
Debtors 6 244,421 243,962
Cash at bank and in hand 243,433 149,214
607,854 498,176
CREDITORS
Amounts falling due within one year 7 (199,652 ) (113,176 )
NET CURRENT ASSETS 408,202 385,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

532,494

496,523

PROVISIONS FOR LIABILITIES (20,970 ) (13,484 )
NET ASSETS 511,524 483,039

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 511,424 482,939
SHAREHOLDERS' FUNDS 511,524 483,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BARGAIN BOX (WEST WALES) LIMITED (REGISTERED NUMBER: 04656632)

STATEMENT OF FINANCIAL POSITION - continued
29 February 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 Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





Mrs S J Marsden - Director


BARGAIN BOX (WEST WALES) LIMITED (REGISTERED NUMBER: 04656632)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Bargain Box (West Wales) 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.

The directors are not aware of any material uncertainties in making their assessment of going concern. As a result the going concern basis of accounting has been adopted.

The presentation currency is £ sterling.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

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.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Inventory
Inventory are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


BARGAIN BOX (WEST WALES) LIMITED (REGISTERED NUMBER: 04656632)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Income recognition
The company's turnover represents the retail sale of goods. The company recognises revenue at point of sale.

Business review
The company continues to run successful retail shops. The directors are not aware of any reason why this should not continue. As a result they have adopted the going concern basis of accounting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 70,000
AMORTISATION
At 1 March 2023
and 29 February 2024 70,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

BARGAIN BOX (WEST WALES) LIMITED (REGISTERED NUMBER: 04656632)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Property Plant and and
Improvements machinery fittings
£    £    £   
COST
At 1 March 2023 38,175 87,112 43,057
Additions - - -
At 29 February 2024 38,175 87,112 43,057
DEPRECIATION
At 1 March 2023 - 70,933 36,575
Charge for year - 2,432 973
At 29 February 2024 - 73,365 37,548
NET BOOK VALUE
At 29 February 2024 38,175 13,747 5,509
At 28 February 2023 38,175 16,179 6,482

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 101,565 28,404 298,313
Additions 37,750 1,057 38,807
At 29 February 2024 139,315 29,461 337,120
DEPRECIATION
At 1 March 2023 53,122 26,160 186,790
Charge for year 21,549 1,084 26,038
At 29 February 2024 74,671 27,244 212,828
NET BOOK VALUE
At 29 February 2024 64,644 2,217 124,292
At 28 February 2023 48,443 2,244 111,523

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 403
Other debtors 244,421 243,559
244,421 243,962

BARGAIN BOX (WEST WALES) LIMITED (REGISTERED NUMBER: 04656632)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 132,836 47,133
Taxation and social security 59,516 60,520
Other creditors 7,300 5,523
199,652 113,176

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mrs S J Marsden and Mr P A Marsden
Balance outstanding at start of year (837 ) (164 )
Amounts advanced 76,953 47,631
Amounts repaid (77,624 ) (48,304 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,508 ) (837 )