The Famous Sheffield Shop Limited - Accounts to registrar (filleted) - small 23.1

REGISTERED NUMBER: 10662177 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

THE FAMOUS SHEFFIELD SHOP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms J A Summers

C D Daley

REGISTERED OFFICE:

475 Ecclesall Road

SHEFFIELD

S11 8PP

REGISTERED NUMBER:

10662177 (England and Wales)

ACCOUNTANTS:

Hollis and Co Limited

Chartered Accountants

35 Wilkinson Street

Sheffield

South Yorkshire

S10 2GB

FIXED ASSETS

Intangible assets

4

12,367

15,732

Tangible assets

5

3,120

3,514

15,487

19,246

CURRENT ASSETS

Stocks

49,735

47,524

Debtors

6

2,925

902

Cash at bank and in hand

91,878

68,933

144,538

117,359

CREDITORS

Amounts falling due within one year

7

24,978

24,800

NET CURRENT ASSETS

119,560

92,559

TOTAL ASSETS LESS CURRENT LIABILITIES

135,047

111,805

CAPITAL AND RESERVES

Called up share capital

30,002

30,002

Retained earnings

105,045

81,803

SHAREHOLDERS' FUNDS

135,047

111,805

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 23 May 2023 and were signed on its behalf by:

Ms J A Summers - Director

1.	STATUTORY INFORMATION

The Famous Sheffield Shop Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 2017, is being amortised evenly over its estimated useful life of ten 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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Plant and machinery etc

-

15% 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.

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 6 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

30,002

1,095

31,097

AMORTISATION

At 1 April 2022

15,000

365

15,365

Charge for year

3,000

365

3,365

At 31 March 2023

18,000

730

18,730

NET BOOK VALUE

At 31 March 2023

12,002

365

12,367

At 31 March 2022

15,002

730

15,732

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

6,888

Additions

157

At 31 March 2023

7,045

DEPRECIATION

At 1 April 2022

3,374

Charge for year

551

At 31 March 2023

3,925

NET BOOK VALUE

At 31 March 2023

3,120

At 31 March 2022

3,514

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

2,925

902

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

8,197

9,927

Taxation and social security

13,852

9,530

Other creditors

2,929

5,343

24,978

24,800