2023-06-022024-06-302024-06-30false14911318AC RETAIL 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AC RETAIL LTD

Registered Number
14911318
(England and Wales)

Unaudited Financial Statements for the Period ended
30 June 2024

AC RETAIL LTD
Company Information
for the period from 2 June 2023 to 30 June 2024

Director

Kulwant Singh Cheema

Registered Address

86-90 Paul Street
London
EC2A 4NE

Registered Number

14911318 (England and Wales)
AC RETAIL LTD
Statement of Financial Position
30 June 2024

Notes

2024

£

£

Current assets
Debtors443,084
Cash at bank and on hand1,890
44,974
Creditors amounts falling due within one year5(40,736)
Net current assets (liabilities)4,238
Total assets less current liabilities4,238
Net assets4,238
Capital and reserves
Called up share capital1,000
Profit and loss account3,238
Shareholders' funds4,238
The financial statements were approved and authorised for issue by the Director on 2 June 2025, and are signed on its behalf by:
Kulwant Singh Cheema
Director
Registered Company No. 14911318
AC RETAIL LTD
Notes to the Financial Statements
for the period ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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). The company was incorporated on 02.06.2023 and commenced its trading on same day.
Turnover policy
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.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year1
3.Stocks
4.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables6,089
Other debtors36,995
Total43,084
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables692
Bank borrowings and overdrafts1,714
Taxation and social security760
Other creditors37,570
Total40,736