Registered number
SC372158
KASHMIR STORE LIMITED
Filleted Accounts
31 March 2024
KASHMIR STORE LIMITED
Registered number: SC372158
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 4 20,000 20,000
Tangible assets 5 77,102 53,054
97,102 73,054
Current assets
Stocks 17,480 34,350
Debtors 6 7,448 4,411
Cash at bank and in hand 41,812 20,531
66,740 59,292
Creditors: amounts falling due within one year 7 (71,350) (39,064)
Net current (liabilities)/assets (4,610) 20,228
Total assets less current liabilities 92,492 93,282
Creditors: amounts falling due after more than one year 8 (35,484) (42,394)
Provisions for liabilities - -
Net assets 57,008 50,888
Capital and reserves
Called up share capital 100 100
Share premium - -
Profit and loss account 56,908 50,788
Shareholders' funds 57,008 50,888
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Abdul Wahid
Director
Approved by the board on 2 December 2024
KASHMIR STORE LIMITED
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.
Intangible fixed assets
Intangible fixed assets are measured at cost.
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 at 10% reducing balance.
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 18
4 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 20,000
Additions -
Disposals -
At 31 March 2024 20,000
Amortisation
At 1 April 2023 -
Provided during the year -
On disposals -
At 31 March 2024 -
Net book value
At 31 March 2024 20,000
At 31 March 2023 20,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Fixtures & Fittings Motor vehicles Total
£ £ £
Cost
At 1 April 2023 70,233 20,691 90,924
Additions 32,615 - 32,615
Surplus on revaluation - - -
Disposals - - -
At 31 March 2024 102,848 20,691 123,539
Depreciation
At 1 April 2023 29,396 8,474 37,870
Charge for the year 7,345 1,222 8,567
Surplus on revaluation - - -
On disposals - - -
At 31 March 2024 36,741 9,696 46,437
Net book value
At 31 March 2024 66,107 10,995 77,102
At 31 March 2023 40,837 12,217 53,054
6 Debtors 2024 2023
£ £
Trade debtors - -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Deferred tax asset - -
Other debtors 7,448 4,411
7,448 4,411
Amounts due after more than one year included above - -
7 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors 6,649 7,535
Accruals 27,929 4,972
Taxation and social security costs 19,038 8,652
Other creditors 17,734 17,905
71,350 39,064
8 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans 35,484 42,394
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
35,484 42,394
9 Other information
KASHMIR STORE LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
162 DARNLEY STREET
GLASGOW
G41 2LL
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