Local Bargains Ltd

Local Bargains Ltd
Statement of Financial Position
As at 31 January 2026

	Notes	2026 £
Fixed assets
Intangible fixed assets	4	8,885
Tangible fixed assets	5	1,525
		10,410
Current assets
Stocks	6	8,121
Debtors	7	1,270
Cash at bank and in hand		2,508
		11,899
Creditors: amount falling due within one year	8	(10,540)
Net current assets		1,359

Total assets less current liabilities		11,769
Creditors: amount falling due after more than one year	9	(18,542)
Net assets		(6,773)

Capital and reserves
Called up share capital	10	1
Profit and loss account		(6,774)
Shareholders' funds		(6,773)

For the period ended 31 January 2026 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 accounts for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 to the Registrar of Companies.

The financial statements were approved by the board of directors on 23 October 2026 and were signed on its behalf by:

-------------------------------
Mohammad Zameer Noori
Director

Local Bargains Ltd
Notes to the Financial Statements
For the Period 24 January 2025 to 31 January 2026

General Information

Local Bargains Ltd is a private company, limited by shares, registered in England and Wales, registration number 16206585, registration address 16b Front Street West, Bedlington, Northumberland, NE22 5UB.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings

15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

Staff Costs

	2026 £
Wages and salaries	4,274
	4,274

Average number of employees during the period	Number
Administration	1
Sales	1
	2

3.	Average number of employees Average number of employees during the period was 2.

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 24 January 2025	-	-
Additions	8,885	8,885
Disposals	-	-
At 31 January 2026	8,885	8,885
Amortisation
At 24 January 2025	-	-
Charge for period	-	-
On disposals	-	-
At 31 January 2026	-	-
Net book values
At 31 January 2026	8,885	8,885
At 23 January 2025	-	-

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Total
	£	£
At 24 January 2025	-	-
Additions	1,525	1,525
Disposals	-	-
At 31 January 2026	1,525	1,525
Depreciation
At 24 January 2025	-	-
Charge for period	-	-
On disposals	-	-
At 31 January 2026	-	-
Net book values
Closing balance as at 31 January 2026	1,525	1,525
Opening balance as at 24 January 2025	-	-

Stocks

	2026 £
Stocks	8,121
	8,121

Debtors: amounts falling due within one year

	2026 £
VAT	1,270
	1,270

Creditors: amount falling due within one year

	2026 £
PAYE & Social Security	1
Accrued Expenses	1,540
Other Creditors	6,899
Wages & Salaries Control Account	2,100
	10,540

Creditors: amount falling due after more than one year

	2026 £
Directors' Loan Accounts	18,542
	18,542

10.

Share Capital

Allotted, called up and fully paid	2026 £
1 Class A share of £1.00 each	1
	1