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REGISTERED NUMBER: SC715935 (Scotland)















Unaudited Financial Statements For The Year Ended 30 November 2023

for

Village Convenience Ltd

Village Convenience Ltd (Registered number: SC715935)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Village Convenience Ltd

Company Information
For The Year Ended 30 November 2023







DIRECTOR: MRS S Mahmood





REGISTERED OFFICE: 10 Glenfarquhar Crescent
Auchenblae
AB30 1WX





REGISTERED NUMBER: SC715935 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan
95-107 Lancefield Street
Glasgow
Lanarkshire
G3 8HZ

Village Convenience Ltd (Registered number: SC715935)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,000 20,000
Tangible assets 5 51,417 23,453
71,417 43,453

CURRENT ASSETS
Stocks 75,550 20,525
Debtors 6 49,580 -
Cash at bank and in hand 4,011 35,330
129,141 55,855
CREDITORS
Amounts falling due within one year 7 197,881 77,692
NET CURRENT LIABILITIES (68,740 ) (21,837 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,677

21,616

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,577 21,516
SHAREHOLDERS' FUNDS 2,677 21,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 21 November 2024 and were signed by:



MRS S Mahmood - Director


Village Convenience Ltd (Registered number: SC715935)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Village Convenience Ltd is a private company, limited by shares , registered in Scotland. 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 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 0, is being amortised evenly over its estimated useful life of nil 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.

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

Stocks
Stocks 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Village Convenience Ltd (Registered number: SC715935)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 20,000
NET BOOK VALUE
At 30 November 2023 20,000
At 30 November 2022 20,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 30,000
Additions 40,818
At 30 November 2023 70,818
DEPRECIATION
At 1 December 2022 6,547
Charge for year 12,854
At 30 November 2023 19,401
NET BOOK VALUE
At 30 November 2023 51,417
At 30 November 2022 23,453

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 45,000 -
Other debtors 4,580 -
49,580 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 25,215 32,886
Taxation and social security 460 3,187
Other creditors 172,206 41,619
197,881 77,692