Company Registration No. 07878818 (England and Wales)
POUND BAZAAR LIMITED
Unaudited accounts
for the year ended 31 December 2024
POUND BAZAAR LIMITED
Unaudited accounts
Contents
POUND BAZAAR LIMITED
Company Information
for the year ended 31 December 2024
Director
Mr Zekeria Sharifi
Company Number
07878818 (England and Wales)
Registered Office
131-132 HIGH STREET
STOURBRIDGE
WEST MIDLANDS
DY8 1DT
UK
POUND BAZAAR LIMITED
Statement of financial position
as at 31 December 2024
Tangible assets
31,237
25,291
Inventories
465,000
423,550
Cash at bank and in hand
1,090
33,167
Creditors: amounts falling due within one year
(91,973)
(119,634)
Net current assets
374,117
337,083
Total assets less current liabilities
405,354
362,374
Creditors: amounts falling due after more than one year
(524,127)
(499,215)
Net liabilities
(118,773)
(136,841)
Called up share capital
100
100
Profit and loss account
(118,873)
(136,941)
Shareholders' funds
(118,773)
(136,841)
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 February 2025 and were signed on its behalf by
Mr Zekeria Sharifi
Director
Company Registration No. 07878818
POUND BAZAAR LIMITED
Notes to the Accounts
for the year ended 31 December 2024
POUND BAZAAR LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07878818. The registered office is 131-132 HIGH STREET, STOURBRIDGE, WEST MIDLANDS, DY8 1DT, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance method
Fixtures & fittings
20% reducing balance method
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
POUND BAZAAR LIMITED
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2024
28,000
17,175
45,175
At 31 December 2024
28,000
31,914
59,914
At 1 January 2024
12,250
7,634
19,884
Charge for the year
3,937
4,856
8,793
At 31 December 2024
16,187
12,490
28,677
At 31 December 2024
11,813
19,424
31,237
At 31 December 2023
15,750
9,541
25,291
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
12,385
9,547
Obligations under finance leases and hire purchase contracts
5,210
5,210
Trade creditors
35,757
32,445
Taxes and social security
23,621
12,808
Other creditors
15,000
50,624
Loans from directors
-
9,000
6
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
16,104
20,961
Other creditors
462,000
466,392
Loans from directors
46,023
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 5 (2023: 5).