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Company Registration No. SC724242 (Scotland)
DECENTSTORE LTD Unaudited accounts for the year ended 29 February 2024
DECENTSTORE LTD Unaudited accounts Contents
Page
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DECENTSTORE LTD Company Information for the year ended 29 February 2024
Director
Waqas Akram
Company Number
SC724242 (Scotland)
Registered Office
1UP 22C Sandeman Street Dundee DD3 7NN United Kingdom
Accountants
AMS Accounting Services Ltd Chartered Certified Accountants 7 Callanish Crescent Newton Mearns Glasgow United Kingdom G77 5WT
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DECENTSTORE LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,953 
- 
Current assets
Inventories
3,765 
4,087 
Debtors
8,442 
- 
Cash at bank and in hand
17,740 
1,469 
29,947 
5,556 
Creditors: amounts falling due within one year
(28,734)
(6,811)
Net current assets/(liabilities)
1,213 
(1,255)
Net assets/(liabilities)
5,166 
(1,255)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
5,165 
(1,256)
Shareholders' funds
5,166 
(1,255)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2024 and were signed on its behalf by
Waqas Akram Director Company Registration No. SC724242
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DECENTSTORE LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
DECENTSTORE LTD is a private company, limited by shares, registered in Scotland, registration number SC724242. The registered office is 1UP 22C , Sandeman Street, Dundee, DD3 7NN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ 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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
15% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 balance sheet date.
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DECENTSTORE LTD Notes to the Accounts for the year ended 29 February 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
- 
- 
- 
- 
Additions
1,500 
1,350 
1,800 
4,650 
At 29 February 2024
1,500 
1,350 
1,800 
4,650 
Depreciation
Charge for the year
225 
202 
270 
697 
At 29 February 2024
225 
202 
270 
697 
Net book value
At 29 February 2024
1,275 
1,148 
1,530 
3,953 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,173 
- 
Other debtors
4,269 
- 
8,442 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
10,638 
1,850 
Taxes and social security
284 
- 
Other creditors
2,850 
- 
Loans from directors
14,167 
4,961 
Accruals
795 
- 
28,734 
6,811 
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DECENTSTORE LTD Notes to the Accounts for the year ended 29 February 2024
7
Transactions with related parties
The company owes Mr Waqas Akram, a director, an amount of £14,167 (2023: 4,961) as at the balance sheet date. There is no interest on this loan and no fixed date for repayment.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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