EXOTIC SUPERSTORE 2 LIMITED - Filleted accounts

Registered number

05432117

EXOTIC SUPERSTORE 2 LIMITED

Filleted Accounts

31 December 2024

EXOTIC SUPERSTORE 2 LIMITED
Registered number:		05432117
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		220,140			196,378

Current assets
Stocks		177,552			232,674
Debtors	4	550,274			494,333
Cash at bank and in hand		100,511			168,545
		828,337			895,552

Creditors: amounts falling due within one year	5	(699,100)			(782,447)

Net current assets			129,237			113,105

Total assets less current liabilities			349,377			309,483

Creditors: amounts falling due after more than one year	6		(146,504)			(89,683)



Net assets			202,873			219,800

Capital and reserves
Called up share capital			100			100
Profit and loss account			202,773			219,700

Shareholders' funds			202,873			219,800

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Approved by the board on 1 November 2025



Mr Harjinder S Bal
Director

EXOTIC SUPERSTORE 2 LIMITED
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	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).

	Turnover
	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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings			over the lease term
	Plant and machinery			10% on a reducing balance method
	Fixtures, fittings, tools and equipment			10% on a reducing balance method

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recog


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					37		34


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	143,085		479,397		34,140		656,622
	Additions	-		44,024		12,990		57,014
	Disposals	-		-		(7,995)		(7,995)
	At 31 December 2024	143,085		523,421		39,135		705,641

	Depreciation
	At 1 January 2024	119,006		327,344		13,894		460,244
	Charge for the year	10,320		19,608		3,324		33,252
	On disposals	-		-		(7,995)		(7,995)
	At 31 December 2024	129,326		346,952		9,223		485,501

	Net book value
	At 31 December 2024	13,759		176,469		29,912		220,140
	At 31 December 2023	24,079		152,053		20,246		196,378


4	Debtors					2024		2023
£							£

	Trade debtors					5,880		200
	Other debtors and prepayments					544,394		494,133
						550,274		494,333


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					12,103		-
	Trade creditors					569,859		597,980
	Corporation tax					39,017		59,625
	Other taxes and social security costs					13,335		12,464
	Other creditors and accruals					64,786		112,378
						699,100		782,447


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Other creditors					146,504		89,683


7	Other information

	EXOTIC SUPERSTORE 2 LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	Southgate Office Village
	286b Chase Road
	Southgate
	London
	N14 6HF