Registered number
SC544923
Singh Store (Scotland) Ltd
Filleted Accounts
31 March 2024
Singh Store (Scotland) Ltd
Registered number: SC544923
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 19,819 22,021
Current assets
Stocks 79,313 73,389
Debtors 4 3,073 3,571
Cash at bank and in hand 8,967 7,596
91,353 84,556
Creditors: amounts falling due within one year 5 (30,988) (28,182)
Net current assets 60,365 56,374
Total assets less current liabilities 80,184 78,395
Creditors: amounts falling due after more than one year 6 (88,997) (101,792)
Net assets / (liabilities) (8,813) (23,397)
Capital and reserves
Called up share capital 100 100
Profit and loss account (8,913) (23,497)
Shareholder's funds (8,813) (23,397)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ravinder Singh
Director
Approved by the board on 27 November 2024
Singh Store (Scotland) Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicle 10% reducing bases
Fixtures, fittings, tools and equipment 10% reducing bases
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Fixture and fittings etc Motor vehicle Total
£ £ £
Cost
At 1 April 2023 10,880 17,404 28,284
At 31 March 2024 10,880 17,404 28,284
Depreciation
At 1 April 2023 4,523 1,740 6,263
Charge for the year 636 1,566 2,202
At 31 March 2024 5,159 3,306 8,465
Net book value
At 31 March 2024 5,721 14,098 19,819
At 31 March 2023 6,357 15,664 22,021
4 Debtors 2024 2023
£ £
Trade debtors - 94
HP Interest 3,073 3,477
3,073 3,571
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 19,059 19,617
Taxation and social security costs 7,120 6,413
Other creditors 4,809 2,152
30,988 28,182
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,383 31,383
Toyota Finance 20,498 23,192
Director's loan account 47,116 47,217
88,997 101,792
Singh Store (Scotland) Ltd SC544923 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr Ravinder Singh No description of principal activity SC544923 2022-04-01 2023-03-31 SC544923 core:WithinOneYear 2023-03-31 SC544923 core:AfterOneYear 2023-03-31 SC544923 core:ShareCapital 2023-03-31 SC544923 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC544923 2023-04-01 2024-03-31 SC544923 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC544923 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC544923 bus:Director40 2023-04-01 2024-03-31 SC544923 1 2023-04-01 2024-03-31 SC544923 2 2023-04-01 2024-03-31 SC544923 core:PlantMachinery 2023-04-01 2024-03-31 SC544923 core:Vehicles 2023-04-01 2024-03-31 SC544923 bus:FRS102 2023-04-01 2024-03-31 SC544923 bus:FilletedAccounts 2023-04-01 2024-03-31 SC544923 2024-03-31 SC544923 core:WithinOneYear 2024-03-31 SC544923 core:AfterOneYear 2024-03-31 SC544923 core:ShareCapital 2024-03-31 SC544923 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC544923 core:PlantMachinery 2024-03-31 SC544923 core:Vehicles 2024-03-31 SC544923 2023-03-31 SC544923 core:PlantMachinery 2023-03-31 SC544923 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure