Varma Retailers Ltd - Filleted accounts

Registered number

SC394370

Varma Retailers Ltd

Filleted Accounts

28 February 2026

Varma Retailers Ltd
Registered number:		SC394370
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Intangible assets	3		1,800			2,400
Tangible assets	4		1,205			1,506
			3,005			3,906

Current assets
Stocks		20,768			23,240
Debtors	5	49,488			-
Cash at bank and in hand		17,258			75,229
		87,514			98,469

Creditors: amounts falling due within one year	6	(38,798)			(31,317)

Net current assets			48,716			67,152

Total assets less current liabilities			51,721			71,058

Creditors: amounts falling due after more than one year	7		(51,271)			(15,870)



Net assets			450			55,188

Capital and reserves
Called up share capital			100			100
Profit and loss account			350			55,088

Shareholder's funds			450			55,188

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 member has 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.


Vijay Varma
Director
Approved by the board on 1 May 2026

Varma Retailers Ltd
Notes to the Accounts
for the year ended 28 February 2026


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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Motor vehicles			20% reducing balance
	Fixtures, fittings, tools and equipment			20% reducing balance

	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					2		2


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 March 2025							6,000
	At 28 February 2026							6,000

	Amortisation
	At 1 March 2025							3,600
	Provided during the year							600
	At 28 February 2026							4,200

	Net book value
	At 28 February 2026							1,800
	At 28 February 2025							2,400


4	Tangible fixed assets
								Motor vehicles
£
	Cost
	At 1 March 2025							16,500
	At 28 February 2026							16,500

	Depreciation
	At 1 March 2025							14,994
	Charge for the year							301
	At 28 February 2026							15,295

	Net book value
	At 28 February 2026							1,205
	At 28 February 2025							1,506


5	Debtors					2026		2025
£							£

	Other debtors					49,488		-


6	Creditors: amounts falling due within one year					2026		2025
£							£

	Accrued expenses					1,000		300
	Other taxes and social security costs					37,798		31,017
						38,798		31,317


7	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					51,271		15,870


8	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Vijay Varma
	Director loan	-		37,000		-		37,000

		-		37,000		-		37,000

9	Controlling party

	The director, Vijay Varma and his wife held a 100% beneficial interest in the share capital of the company.


10	Other information

	Varma Retailers Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	652 Old Edinburgh Road
	Uddingston
	Glasgow
	G71 6HF