REGISTERED NUMBER: 04222087 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

DAVES DISCOUNT (STORES) LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Sumerjit Kaur Sanghera

Palminder Singh

SECRETARY:

Palminder Singh

REGISTERED OFFICE:

1st Floor

Dudley House

Stone Street

DUDLEY

West Midlands

DY1 1NS

REGISTERED NUMBER:

04222087 (England and Wales)

ACCOUNTANTS:

E R Grove & Co Limited

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Daves Discount (Stores) Ltd for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Daves Discount (Stores) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Daves Discount (Stores) Ltd and state those matters that we have agreed to state to the Board of Directors of Daves Discount (Stores) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Daves Discount (Stores) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Daves Discount (Stores) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Daves Discount (Stores) Ltd. You consider that Daves Discount (Stores) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Daves Discount (Stores) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

E R Grove & Co Limited

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

22 December 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

207,664

114,535

Investments

6

15,000

15,000

222,664

129,535

CURRENT ASSETS

Stocks

1,894,265

1,874,265

Debtors

7

469,903

610,204

Cash at bank and in hand

46,567

63,575

2,410,735

2,548,044

CREDITORS

Amounts falling due within one year

8

2,657,923

2,726,177

NET CURRENT LIABILITIES

(247,188

)

(178,133

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,524

)

(48,598

)

PROVISIONS FOR LIABILITIES

28,208

6,988

NET LIABILITIES

(52,732

)

(55,586

)

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Share premium

200,000

200,000

Retained earnings

(302,732

)

(305,586

)

SHAREHOLDERS' FUNDS

(52,732

)

(55,586

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

Palminder Singh - Director

1.	STATUTORY INFORMATION

Daves Discount (Stores) Ltd 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 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

in accordance with the property

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2024 - 53 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

177,000

AMORTISATION

At 1 April 2024

and 31 March 2025

177,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

116,331

309,908

98,058

345,764

870,061

Additions

-

90,000

27,500

-

117,500

Disposals

-

-

(35,308

)

-

(35,308

)

At 31 March 2025

116,331

399,908

90,250

345,764

952,253

DEPRECIATION

At 1 April 2024

116,331

237,014

59,824

342,357

755,526

Charge for year

-

10,897

7,795

1,137

19,829

Eliminated on disposal

-

-

(30,766

)

-

(30,766

)

At 31 March 2025

116,331

247,911

36,853

343,494

744,589

NET BOOK VALUE

At 31 March 2025

-

151,997

53,397

2,270

207,664

At 31 March 2024

-

72,894

38,234

3,407

114,535

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

15,000

NET BOOK VALUE

At 31 March 2025

15,000

At 31 March 2024

15,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

25,156

124,091

Other debtors

444,747

486,113

469,903

610,204

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

169,257

204,079

Trade creditors

428,793

481,458

Taxation and social security

170,357

177,241

Other creditors

1,889,516

1,863,399

2,657,923

2,726,177

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

86,800

105,520

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

169,257

204,079

The bank loans and overdraft are secured by a debenture dated 27 August 2018 over the company's trade and assets.

11.	RELATED PARTY DISCLOSURES

2025

2024

£

£

Amounts due to associated companies

(1,920,307

)

(1,992,425

)

Associated companies are companies under common control with the directors. None of the above balances are held under normal commercial terms and bear no interest.