Shopsmart (Waterloo) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC497746 (Scotland)

Unaudited Financial Statements

For The Period 1 March 2016 to 31 August 2017

for

Shopsmart (Waterloo) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Ahmed

REGISTERED OFFICE:

31 Waterloo Street

Glasgow

G2 6BZ

REGISTERED NUMBER:

SC497746 (Scotland)

ACCOUNTANTS:

Ahmad & Nabi Mcmullan

95-107 Lancefield Street

Glasgow

Lanarkshire

G3 8HZ

FIXED ASSETS

Tangible assets

4

606

808

CURRENT ASSETS

Stocks

47,500

20,125

Debtors

5

6,197

3,311

Cash at bank and in hand

7,347

9,655

61,044

33,091

CREDITORS

Amounts falling due within one year

6

49,886

33,583

NET CURRENT ASSETS/(LIABILITIES)

11,158

(492

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,764

316

CREDITORS

Amounts falling due after more than one year

7

57,266

9,114

NET LIABILITIES

(45,502

)

(8,798

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(45,602

)

(8,898

)

SHAREHOLDERS' FUNDS

(45,502

)

(8,798

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 24 November 2017 and were signed by:

J Ahmed - Director

1.	STATUTORY INFORMATION

Shopsmart (Waterloo) Ltd is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% 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 period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2016

and 31 August 2017

1,155

DEPRECIATION

At 1 March 2016

347

Charge for period

202

At 31 August 2017

549

NET BOOK VALUE

At 31 August 2017

606

At 29 February 2016

808

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

29.2.16

£

£

Loan to DS Convenience Ltd

6,197

3,277

VAT

-

34

6,197

3,311

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

29.2.16

£

£

Trade creditors

45,605

31,999

VAT

234

-

Accrued expenses

4,047

1,584

49,886

33,583

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.17

29.2.16

£

£

Director's loan acc

57,266

9,114