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REGISTERED NUMBER: 11500193 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LO COST CONVENIENCE LIMITED

LO COST CONVENIENCE LIMITED (REGISTERED NUMBER: 11500193)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LO COST CONVENIENCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: S Bains





SECRETARY:





REGISTERED OFFICE: 30 Stafford Road
Cannock
Staffordshire
WS11 4AG





REGISTERED NUMBER: 11500193 (England and Wales)





ACCOUNTANTS: SPS Accounting Ltd
1st Floor
44 Queen Street
Wolverhampton
West Midlands
WV1 3BJ

LO COST CONVENIENCE LIMITED (REGISTERED NUMBER: 11500193)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 49,999 49,999
Tangible assets 5 6,835 8,184
56,834 58,183

CURRENT ASSETS
Stocks 64,470 58,950
Debtors 6 3,000 3,000
Cash at bank and in hand 7,231 5,243
74,701 67,193
CREDITORS
Amounts falling due within one year 7 85,763 83,953
NET CURRENT LIABILITIES (11,062 ) (16,760 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,772

41,423

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 45,672 41,323
SHAREHOLDERS' FUNDS 45,772 41,423

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 May 2025 and were signed by:




S Bains - Director


LO COST CONVENIENCE LIMITED (REGISTERED NUMBER: 11500193)

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

1. STATUTORY INFORMATION

Lo Cost Convenience Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of nil years.

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 etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 49,999
NET BOOK VALUE
At 31 August 2024 49,999
At 31 August 2023 49,999

LO COST CONVENIENCE LIMITED (REGISTERED NUMBER: 11500193)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 1 19,318 19,319
DEPRECIATION
At 1 September 2023 - 11,135 11,135
Charge for year - 1,349 1,349
At 31 August 2024 - 12,484 12,484
NET BOOK VALUE
At 31 August 2024 1 6,834 6,835
At 31 August 2023 1 8,183 8,184

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,000 3,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 16,942 12,362
Taxation and social security 7,963 21,414
Other creditors 60,858 50,177
85,763 83,953