5 false false false false false false false false false false true false false true false true true No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 11535642 2023-09-01 2024-08-31 11535642 2024-08-31 11535642 2023-08-31 11535642 2022-09-01 2023-08-31 11535642 2023-08-31 11535642 2022-08-31 11535642 core:FurnitureFittings 2023-09-01 2024-08-31 11535642 core:MotorVehicles 2023-09-01 2024-08-31 11535642 bus:Director1 2023-09-01 2024-08-31 11535642 core:FurnitureFittings 2023-08-31 11535642 core:MotorVehicles 2023-08-31 11535642 core:FurnitureFittings 2024-08-31 11535642 core:MotorVehicles 2024-08-31 11535642 core:WithinOneYear 2024-08-31 11535642 core:WithinOneYear 2023-08-31 11535642 core:ShareCapital 2024-08-31 11535642 core:ShareCapital 2023-08-31 11535642 core:RetainedEarningsAccumulatedLosses 2024-08-31 11535642 core:RetainedEarningsAccumulatedLosses 2023-08-31 11535642 core:FurnitureFittings 2023-08-31 11535642 core:MotorVehicles 2023-08-31 11535642 bus:SmallEntities 2023-09-01 2024-08-31 11535642 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 11535642 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 11535642 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11535642 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 11535642
GENERAL SUPERSTORE LTD
Filleted Unaudited Financial Statements
31 August 2024
GENERAL SUPERSTORE LTD
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
2,301
1,875
Current assets
Stocks
78,670
75,355
Debtors
6
8,650
5,827
Cash at bank and in hand
4,728
9,137
--------
--------
92,048
90,319
Creditors: amounts falling due within one year
7
27,084
31,579
--------
--------
Net current assets
64,964
58,740
--------
--------
Total assets less current liabilities
67,265
60,615
--------
--------
Net assets
67,265
60,615
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
67,165
60,515
--------
--------
Shareholders funds
67,265
60,615
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GENERAL SUPERSTORE LTD
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 16 May 2025 , and are signed on behalf of the board by:
Mr H PATEL
Director
Company registration number: 11535642
GENERAL SUPERSTORE LTD
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 NEW BROADWAY, HILLINGDON, UB10 0LL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
All assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 September 2023
1,986
1,200
3,186
Additions
1,000
1,000
-------
-------
-------
At 31 August 2024
2,986
1,200
4,186
-------
-------
-------
Depreciation
At 1 September 2023
504
807
1,311
Charge for the year
496
78
574
-------
-------
-------
At 31 August 2024
1,000
885
1,885
-------
-------
-------
Carrying amount
At 31 August 2024
1,986
315
2,301
-------
-------
-------
At 31 August 2023
1,482
393
1,875
-------
-------
-------
6. Debtors
2024
2023
£
£
Other debtors
8,650
5,827
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
13,171
11,774
Social security and other taxes
2,067
7,827
Other creditors
11,846
11,978
--------
--------
27,084
31,579
--------
--------
8. Directors' advances, credits and guarantees
Directors loan account relates to directors current account.
9. Related party transactions
The company was under the control of Mr H PATEL throughout the current year. Mr H PATEL is the managing director and 100% shareholder.