Company registration number 05771870 (England and Wales)
SPECSELLERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
SPECSELLERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SPECSELLERS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,269
906
Current assets
Stocks
1,800
1,550
Debtors
4
35,126
31,243
Cash at bank and in hand
12,746
6,634
49,672
39,427
Creditors: amounts falling due within one year
5
(13,334)
(7,754)
Net current assets
36,338
31,673
Total assets less current liabilities
38,607
32,579
Provisions for liabilities
(431)
(172)
Net assets
38,176
32,407
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
38,076
32,307
Total equity
38,176
32,407

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 28 January 2025
Mr I C White
Director
Company registration number 05771870 (England and Wales)
SPECSELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Specsellers Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Waterside Court, St.Helens, Merseyside, England, WA9 1UA. The principal place of business is 34 Raleigh Close, Old Hall, Warrington, Cheshire, WA5 9QS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SPECSELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 May 2023
5,822
2,874
8,696
Additions
-
0
1,499
1,499
At 30 April 2024
5,822
4,373
10,195
Depreciation and impairment
At 1 May 2023
4,916
2,874
7,790
Depreciation charged in the year
136
-
0
136
At 30 April 2024
5,052
2,874
7,926
Carrying amount
At 30 April 2024
770
1,499
2,269
At 30 April 2023
906
-
0
906
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
12,128
7,995
Other debtors
22,998
23,248
35,126
31,243
SPECSELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
994
1,071
Corporation tax
8,413
4,191
Other creditors
3,927
2,492
13,334
7,754
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