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REGISTERED NUMBER: SC227065 (Scotland)

















POUNDSAVER STORES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






POUNDSAVER STORES LIMITED (REGISTERED NUMBER: SC227065)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


POUNDSAVER STORES LIMITED (REGISTERED NUMBER: SC227065)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,256
Investment property 5 250,000 160,000
250,000 161,256

CURRENT ASSETS
Debtors 6 40,072 34,042

CREDITORS
Amounts falling due within one year 7 18,165 21,542
NET CURRENT ASSETS 21,907 12,500
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,907

173,756

PROVISIONS FOR LIABILITIES 17,100 -
NET ASSETS 254,807 173,756

CAPITAL AND RESERVES
Called up share capital 8 4 4
Revaluation reserve 9 120,371 47,471
Retained earnings 9 134,432 126,281
SHAREHOLDERS' FUNDS 254,807 173,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

POUNDSAVER STORES LIMITED (REGISTERED NUMBER: SC227065)

BALANCE SHEET - continued
31 JANUARY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:




Mrs A K Punia - Director



Mrs S K Punia - Director


POUNDSAVER STORES LIMITED (REGISTERED NUMBER: SC227065)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Poundsaver Stores Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC227065

Registered office: 31-33 Scotts Street
Annan
Dumfriesshire
DG12 6JE

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with SSAP 19 no depreciation is provided in respect of the investment property. This represents a departure from the Companies Act 2006 requirements to provide for the systematic annual depreciation of assets. However this property is held for investment rather than consumption, and the director considers that the adoption of the above policy is necessary to give a true and fair view.

POUNDSAVER STORES LIMITED (REGISTERED NUMBER: SC227065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 NIL (2023 - NIL).

POUNDSAVER STORES LIMITED (REGISTERED NUMBER: SC227065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2023 5,462
Additions (5,462 )
At 31 January 2024 -
DEPRECIATION
At 1 February 2023 4,206
Eliminated on disposal (4,206 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 1,256

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 160,000
Revaluations 90,000
At 31 January 2024 250,000
NET BOOK VALUE
At 31 January 2024 250,000
At 31 January 2023 160,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2014 47,471
Valuation in 2024 90,000
Cost 112,529
250,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 112,529 112,529

The investment property was revalued by the directors on an open market basis on the 31 January 2024.

POUNDSAVER STORES LIMITED (REGISTERED NUMBER: SC227065)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 40,072 34,042

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 4,778
Tax 13,207 11,806
Other creditors and accruals 4,958 4,958
18,165 21,542

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 126,281 47,471 173,752
Profit for the year 81,051 81,051
Deferred tax 17,100 (17,100 ) -
Surplus on revaluation (90,000 ) 90,000 -
At 31 January 2024 134,432 120,371 254,803