Registered number
08162527
Black Pearl Shop Limited
Filleted Accounts
31 August 2024
Black Pearl Shop Limited
Registered number: 08162527
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 18,004 21,064
Current assets
Stocks 125,126 130,542
Debtors 4 128,310 62,182
Cash at bank and in hand 379,203 306,434
632,639 499,158
Creditors: amounts falling due within one year 5 (143,661) (123,524)
Net current assets 488,978 375,634
Total assets less current liabilities 506,982 396,698
Creditors: amounts falling due after more than one year 6 (6,644) (16,580)
Net assets 500,338 380,118
Capital and reserves
Called up share capital 100 100
Profit and loss account 500,238 380,018
Shareholders' funds 500,338 380,118
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.
Roussos Karageorgis
Director
Approved by the board on 19 February 2025
Black Pearl Shop Limited
Notes to the Accounts
for the year ended 31 August 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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings over 50 years
Leasehold land and buildings straight line over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2023 57,370 17,664 75,034
At 31 August 2024 57,370 17,664 75,034
Depreciation
At 1 September 2023 39,243 14,727 53,970
Charge for the year 2,472 588 3,060
At 31 August 2024 41,715 15,315 57,030
Net book value
At 31 August 2024 15,655 2,349 18,004
At 31 August 2023 18,127 2,937 21,064
4 Debtors 2024 2023
£ £
Trade debtors 6,854 -
Luck & Light Shop 112,706 13,432
Prepayments - 40,000
Other debtors 8,750 8,750
128,310 62,182
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,735 10,735
Trade creditors 3,088 1,356
Taxation and social security costs 125,586 96,368
PAYE control 4,958
Wages control - (104)
MK Directors loan account 1,416 6,679
RK Directors loan account 1,636 2,332
Accruals 1,200 1,200
143,661 123,524
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,644 16,580
7 Other information
Black Pearl Shop Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 Kensington Gardens
Brighton
East Sussex
BN1 4AL
Black Pearl Shop Limited 08162527 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts July 2024 Roussos Karageorgis No description of principal activity 08162527 2022-09-01 2023-08-31 08162527 core:WithinOneYear 2023-08-31 08162527 core:AfterOneYear 2023-08-31 08162527 core:ShareCapital 2023-08-31 08162527 core:RetainedEarningsAccumulatedLosses 2023-08-31 08162527 2023-09-01 2024-08-31 08162527 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08162527 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 08162527 bus:Director40 2023-09-01 2024-08-31 08162527 core:LandBuildings 2023-09-01 2024-08-31 08162527 core:PlantMachinery 2023-09-01 2024-08-31 08162527 countries:England 2023-09-01 2024-08-31 08162527 bus:FRS102 2023-09-01 2024-08-31 08162527 bus:FilletedAccounts 2023-09-01 2024-08-31 08162527 2024-08-31 08162527 core:WithinOneYear 2024-08-31 08162527 core:AfterOneYear 2024-08-31 08162527 core:ShareCapital 2024-08-31 08162527 core:RetainedEarningsAccumulatedLosses 2024-08-31 08162527 core:LandBuildings 2024-08-31 08162527 core:PlantMachinery 2024-08-31 08162527 2023-08-31 08162527 core:LandBuildings 2023-08-31 08162527 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure