Poundsavers Scotland Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC354591 (Scotland)

Unaudited Financial Statements for the Year Ended 30 April 2018

for

Poundsavers Scotland Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Ahmad

K Ahmad

SECRETARY:

N Ahmad

REGISTERED OFFICE:

41 Nicolson Street

Edinburgh

EH8 9BE

REGISTERED NUMBER:

SC354591 (Scotland)

ACCOUNTANTS:

Ahmad & Nabi Mcmullan Accountants

95-107 Lancefield Street

Glasgow

G3 8HZ

FIXED ASSETS

Intangible assets

4

35,000

35,000

Tangible assets

5

3,326

2,435

38,326

37,435

CURRENT ASSETS

Stocks

199,150

189,375

Cash at bank and in hand

132,271

87,082

331,421

276,457

CREDITORS

Amounts falling due within one year

6

73,567

82,061

NET CURRENT ASSETS

257,854

194,396

TOTAL ASSETS LESS CURRENT LIABILITIES

296,180

231,831

CREDITORS

Amounts falling due after more than one year

7

182,386

185,651

NET ASSETS

113,794

46,180

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

113,674

46,060

SHAREHOLDERS' FUNDS

113,794

46,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 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 Board of Directors on 16 January 2019 and were signed on its behalf by:

K Ahmad - Director

1.	STATUTORY INFORMATION

Poundsavers Scotland 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of nil 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.

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

Motor vehicles

-

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 year 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 year 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 year was 8 (2017 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

35,000

NET BOOK VALUE

At 30 April 2018

35,000

At 30 April 2017

35,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 May 2017

15,000

4,360

19,360

Additions

2,000

-

2,000

At 30 April 2018

17,000

4,360

21,360

DEPRECIATION

At 1 May 2017

13,541

3,384

16,925

Charge for year

865

244

1,109

At 30 April 2018

14,406

3,628

18,034

NET BOOK VALUE

At 30 April 2018

2,594

732

3,326

At 30 April 2017

1,459

976

2,435

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

30,157

33,064

Tax

21,975

22,671

VAT

5,535

9,809

Accrued expenses

15,900

16,517

73,567

82,061

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Directors loan account

182,386

185,651